development drilling program

development drilling program definition - finance
A program for drilling for oil or natural gas only in areas where known reserves exist. Investors or companies undertaking a development drilling program are more likely to find oil or gas, and thus make a profit, than those conducting an explora-tory drilling program, which is risky and may result in a loss.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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