Production and Hedging Reports Clause Samples
The 'Production and Hedging Reports' clause requires parties to regularly provide detailed information about their production levels and hedging activities. Typically, this involves submitting periodic reports that outline quantities produced, sales volumes, and any financial instruments or contracts used to hedge against price fluctuations. By mandating transparency in these areas, the clause ensures that all parties have up-to-date information for monitoring compliance, managing risk, and making informed business decisions.
Production and Hedging Reports. As soon as available and in any event within 45 days after the end of each quarter, commencing with the quarter ending June 30, 2010, a report certified by a Responsible Officer of the Borrower in form and substance satisfactory to the Administrative Agent prepared by the Borrower (i) covering each of the Oil and Gas Properties of the Borrower and its Subsidiaries and detailing on a quarterly basis (A) the production, revenue, and price information and associated operating expenses for each such quarter, (B) any changes to any producing reservoir, production equipment, or producing well during each such quarter, which changes could reasonably be expected to cause a Material Adverse Change, and (C) any sales of the Borrower’s or any Subsidiaries’ Oil and Gas Properties during each such quarter, (ii) setting forth a true and complete list of all Hedge Contracts of the Borrower and its Subsidiaries and detailing the material terms thereof (including the type, term, effective date, termination date and notional amounts or volumes), the net ▇▇▇▇ to market value thereof, all credit support agreements relating thereto (including any margin required or supplied), and the counterparty to each such agreement, and (iii) certifying the Borrower’s compliance with Section 5.12 hereof;
Production and Hedging Reports. (a) Attached hereto as Schedule II is a true and complete list of the lease operating statements for the ▇▇▇▇▇ for each month for the periods covered by this certificate (detailed on a monthly basis).
(b) Attached hereto as Schedule III is a true and complete list of any changes to any producing reservoir, production equipment, or producing well for the periods covered by this certificate, which changes could reasonably be expected to cause a Material Adverse Change.
(c) Attached hereto as Schedule IV is a true and complete list of any sales of the Borrower’s or any Subsidiaries’ Oil and Gas Properties to which Proven Reserves are attributable during each month for the periods covered by this certificate (detailed on a monthly basis for the periods covered by this certificate).
Production and Hedging Reports. As soon as available and in any event within 45 days after the end of each quarter, commencing with the quarter ending June 30, 2010, a report certified by a Responsible Officer of the Borrower in form and substance satisfactory to the Administrative Agent prepared by the Borrower (i) covering each of the Oil and Gas Properties of the Borrower and its Subsidiaries and detailing on a quarterly basis (A) the production, revenue, and price information and associated operating expenses for each such quarter, (B) any changes to any producing reservoir, production equipment, or producing well during each such quarter, which changes could reasonably be expected to cause a Material Adverse Change, and (C) any sales of the Borrower’s or any Subsidiaries’ Oil and Gas Properties during each such quarter, (ii) setting forth a true and complete list of all Hedge
Production and Hedging Reports. The Administrative Agent shall have received a report containing the information required by Section 5.2(d) for the quarter ended June 30, 2014.
Production and Hedging Reports. Concurrently with any delivery of financial statements under clause (a) or (b) of this Section 5.01, (i) production and operating reports (the same to include information as to volumes produced and sold and the amount received by the Credit Parties) in respect of the Oil and Gas Properties of the Credit Parties, and (ii) a certificate of a Financial Officer of Holdings in form and substance reasonably satisfactory to the Administrative Agent setting forth as of a recent date, a true and complete list of all Hedging Agreements of Holdings and each Subsidiary, the material terms thereof (including the type, term, effective date, termination date and notional amounts or volumes), any new credit support agreements relating thereto (other than Credit Documents), any margin required or supplied under any credit support document, and the counterparty to each such agreement; provided, that unless and until Holdings makes such reports and information provided under this Section 5.01(i) publicly available, such information and reports shall be considered MNPI and, absent the consent of such Lender, shall not be delivered to any Public Lender.
Production and Hedging Reports. (a) Attached hereto as Schedule II is a true and complete list of the lease operating statements for the Wells, aggregated for each region, for each month for the periods covered by this certificate (detailed on a monthly basis).
(b) Attached hereto as Schedule III is a true and complete list of any changes to any producing reservoir, production equipment, or producing well for the periods covered by this certificate, which changes could reasonably be expected to cause a Material Adverse Change.
(c) Attached hereto as Schedule IV is a true and complete list of any sales of the Borrower’s or any Subsidiaries’ Oil and Gas Properties to which Proven Reserves are attributable during each month for the periods covered by this certificate (detailed on a monthly basis for the periods covered by this certificate), excluding sales that, individually or in the aggregate, are less than $500,000 for the quarterly period covered by this certificate.
(d) Attached hereto as Schedule V is a true and complete list of all Hedging Arrangements of the Credit Parties and detailing the material terms thereof (including the type, effective date, and notional amounts or volumes on a monthly basis, for the periods covered by this certificate).
(e) Attached hereto as Schedule VI is a true and complete list of all credit support agreements (other than any Credit Documents) relating to the Hedging Arrangements of the Credit Parties (including any margin required or supplied) and the counterparty to each such agreement; provided that, such required listing of any credit support agreements shall, in no event, be construed as permitting such credit supports which are not permitted under the terms of the Credit Agreement. 18 Other than in an Unrestricted Subsidiary. 19 By the Credit Parties.
(f) Attached hereto as Schedule VII are calculations showing that the Credit Parties [are] [are not] in compliance with the negative covenant provided in Section 6.15(b) of the Credit Agreement:20
(i) In no event has the aggregate notional volume of all Hedging Arrangements in respect of commodities for a particular month exceeded 100% of the actual production for each of crude oil, natural gas and natural gas liquids, calculated separately, in the previous calendar month. 20 For purposes of determining compliance under Section 6.15 (b), basis differential Hedging Arrangements shall not be included in Hedging Arrangements so long as the volumes of such basis differential Hedging Arrangements are not ...
Production and Hedging Reports. As soon as available and in any event within 45 days after the end of each calendar month, commencing with June 30, 2006, a report certified by a Responsible Officer of the Borrower in form and
(i) covering each of the Oil and Gas Properties of the Borrower and its Subsidiaries (including the ▇▇▇▇▇▇▇ Shale Properties) and detailing on a monthly basis (A) the production, revenue, and price information and associated operating expenses for each such month, (B) any changes to any producing reservoir, production equipment, or producing well during each such month, which changes could cause a Material Adverse Change, and (C) any sales of the Borrower’s or any Subsidiaries’ Oil and Gas Properties during each such month, (ii) setting forth a true and complete list of all Hedge Contracts of the Borrower and its Subsidiaries and detailing the material terms thereof (including the type, term, effective date, termination date and notional amounts or volumes), the net ▇▇▇▇ to market value thereof, all credit support agreements relating thereto (including any margin required or supplied), and the counterparty to each such agreement, and (iii) certifying the Borrower’s compliance with Section 5.12 hereof.
(g) Section 6.18 of the Credit Agreement is hereby deleted in its entirety and replaced with the following: