exploratory oil and gas partnership
Exploratory Oil and Gas Partnership
A higher-risk oil and gas limited partnership. The general partner uses the investment money from the limited partners to drill in an unproven oil or gas field, and not in a proven field. This gives the limited partners the possibility of high profit if a large amount of oil or gas is discovered, but there is a chance that nothing will be found and the limited partners will lose their investments. The typical partnership unit for a limited partner costs $5000, and the limited partner risks no more than this investment.