Wildcat Drilling

Also found in: Encyclopedia.

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.

Canada,United Kingdom : RATHLIN ENERGY embarks upon wildcat drilling operation in EAST YORKSHIRE

In 1983 INOC started wildcat drilling in the field, with Limex of Germany operating as a drilling contractor.

IRAQ - The Main Central Fields

At that, this August development drilling made up 9,773 m and exploration drilling 302 m and wildcat drilling 170 m.