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Developmental Drilling Program Meaning & Definition

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Definition of Developmental Drilling Program

Developmental Drilling Program is an oil or gas program that drills for new wells in areas of proven reserves.

Applying "Developmental Drilling Program" to Securities Exams:

When exploring for oil and gas, drilling new wells in areas where proven reserves exist has a higher likelihood of producing oil or gas than drilling in areas where there are no proven reserves. These are known as developmental drilling programs or step out wells.

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