Definition of Dry hole:
A dry hole is a business venture that ends up being a loss. The buzz word "dry hole" was originally used in oil exploration to describe a well where no significant reserves of oil were found. This term is now often used to describe any fruitless commercial initiative.
Newer businesses often run at a net loss for the first few years (while acquiring one-time expenses such as equipment and buildings) before becoming profitable; however, these are not usually referred to as dry holes. A dry hole is typically thought never to be able to produce a profit.
Exploratory or development well that is sealed-off after drilling because it does not produce gas/oil in economically viable quantities.
A well drilled for oil or gas but yielding none.
How to use Dry hole in a sentence?
- This is a Texas oilman who seemed to drill nothing but dry holes.
Meaning of Dry hole & Dry hole Definition