Wildcat Drilling


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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.
References in periodicals archive ?
Chairman of Rathlin Energy UK, David Montagu-Smith, said: "This is a high risk operation, we call this a wildcat drilling operation.
In 1983 INOC started wildcat drilling in the field, with Limex of Germany operating as a drilling contractor.
At that, this August development drilling made up 9,773 m and exploration drilling 302 m and wildcat drilling 170 m.