Vested Interest.

When you have a vested interest in something, you have a real and official right to it. In the context of retirement planning, a vested interest is an employee’s right to keep their retirement benefits even if they leave their job before retirement. Vesting occurs when an employee meets a certain service requirement, usually five … Read more

Development Well.

A development well is a well that is drilled specifically for the purpose of producing oil or gas, as opposed to an exploration well, which is drilled in an attempt to find a new oil or gas reserve. Development wells are typically drilled once the location of a new oil or gas reserve has been … Read more