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Wildcat Drilling

   Also found in: Encyclopedia 0.01 sec.
Wildcat Drilling
The practice of drilling for oil in an area with no proven reserves. That is, the wildcatter has no idea if the venture will yield a significant amount of oil. This is extremely high risk but has the potential for large profits if the wildcatter strikes "black gold." See also: Exploratory Oil and Gas Partnership.


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If you get your hands on some good acreage there and promote, wildcat drilling has the potential to be very profitable.
In 1983 Limex of Germany began wildcat drilling at the field, operating as a contractor.
Plus, years of unregulated wildcat drilling dating back to the mid-1800s resulted in an unknown number of wells that were never properly sealed.
 
 
 
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