Successful Farmins & Farmouts describes in detail all the information an oil and gas professional needs to complete a successful farmout or farmin of projects ranging from early exploration opportunities through to mature producing fields. The book includes a detailed checklist for data room managers and attendees, as well as a description of common pitfalls for both potential buyers and sellers. Key elements of the crucial Joint Operating Agreement, central to a successful farmin/farmout, are discussed with recommendations on how to draft an efficient and robust contract. A review of the economics of farmouts & farmins includes a method to determine the optimal risked percentage, with worked examples, at which to farmout or farmin to a petroleum opportunity.