developmental oil and gas partnership

(redirected from Developmental Drilling Programs)

Developmental Oil and Gas Partnership

A lower-risk oil and gas limited partnership. The general partner uses the investment money from the limited partners to drill in a proven oil or gas field, and not in an unproven field. This gives the limited partners a good chance at a steady return, but little hope for sudden profit. The typical partnership unit for a limited partner costs $5,000, and the limited partner risks no more than this investment.

developmental oil and gas partnership

References in periodicals archive ?
the "Company") (NASDAQ:CWEI) today provided a review of its ongoing developmental drilling programs in the Permian Basin and Austin Chalk (Trend), two of its core oil-producing areas, for 2009 and its outlook for 2010.
These economic improvements, coupled with strategic actions by the Company to create drilling efficiencies and control drilling and completion costs, allowed the Company to resume and even escalate its developmental drilling program.
NASDAQ:CWEI) today provided an update on its ongoing developmental drilling programs in the Permian Basin and Austin Chalk, two of its core oil-producing areas.
President said, "I am very encouraged with the results of our developmental drilling programs in the Permian Basin and the Austin Chalk areas.
Net proceeds will be used to continue developmental drilling programs in Woodson County, Kansas.
Hemi and Wilshire will expand its working relationship, when due diligence is completed, to pursue strategic acquisitions of oil and gas producing properties and implement expansion of ongoing developmental drilling programs.
The Company will initiate developmental drilling programs to drill new wells on these leases and, if successful, will add oil and gas reserves to the acquired property.
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