Naming a piece of land is often a powerful declaration of ownership and destiny. By assigning a name to the location of his treaty with Abimelech, Abraham establishes a historical and legal milestone. The covenant effectively removes the area from Philistine control, transferring ownership directly into Abraham's hands [מלבי"ם]. Furthermore, his ability to name the site, and the fact that the name endured, serves as a clear sign for the future, foreshadowing the ultimate inheritance of the entire land [רד"ק].
The chosen name carries a dual meaning, commemorating both the seven sheep Abraham presented to the Philistine king and the mutual oath they swore to one another [רד"ק, ביאור שטיינזלץ]. Linking the name specifically to this oath was a deliberate and necessary choice. Had the location been named solely after the livestock, there remained a risk that the Philistines might one day steal the well and simply rename it. The formal oath provided lasting legal validity and protection against future theft [העמק דבר].
This oath was also crucial for finalizing the transaction itself. From a legal standpoint, purchasing a well that will only produce water in the future is akin to acquiring something that does not yet exist. Such a transaction normally lacks binding authority. It was only through the power of the sworn oath that the acquisition was fully completed, which is why the location's name highlights the oath above all else [פרדס יוסף]. Despite the practical benefits of this treaty, the very act of forging a partnership with a foreign king raises a significant difficulty. Entering into a covenant with Abimelech is surprising, as it seemingly violates the restriction against providing aid to those who worship idols [חזקוני].
Interestingly, the name was assigned to the broader location rather than the specific well. Commentators offer a few explanations for this distinction. It is possible that during the agreement, the two men were not actually standing next to the well, but were merely discussing it from a distance [ביאור יש"ר]. Alternatively, the area may have already possessed an older name, with the new title simply being added to it [מלבי"ם]. Another perspective suggests that during Abraham's lifetime, only the surrounding region bore this name, while the city itself was officially named much later by his son, Isaac [חזקוני].
The conclusion of this encounter highlights the unique meeting between the current ruler of the territory and Abraham, who represents its future sovereignty. This moment marks the first official recognition of the nation that would eventually emerge from Abraham. The name given to the site was intended to immortalize this historic occasion for all future generations, serving as a permanent reminder to his descendants of the binding oath their father swore [רש"ר הירש].