1. n. [Drilling]

The company that serves as the overall manager and decision-maker of a drilling project. Generally, but not always, the operator will have the largest financial stake in the project. At the successful completion of logging the target zones, the decision to complete or plug and abandon generally has partner input and potential override clauses. As far as the drilling contractor and service companies are concerned, the designated operator is paying for the entire operation, and the operator is responsible for recouping some of that expense from the partners.

See related terms: drilling contractor,  plug and abandon

2. n. [Oil and Gas Business]

The owner of the right to drill or produce a well, or the entity contractually charged with drilling of a test well and production of subsequent wells.

Alternate Form: operator