Examples of Entrada Field in a sentence
Following the acquisition of BP’s interest in the Entrada Field in April 2007, our focus shifted to ensuring our ability to fund our development plan for the property.
The decline in net income for the year ended December 31, 2007, when compared to 2006, is primarily attributable to an increase in interest expense associated with the financing of the company’s acquisition of BP’s interest in the Entrada Field, lower 2007 oil production at the Medusa Field after the completion of remedial work on the Medusa A-1 well in late 2006 restored production at a lower rate, and an increase in the depletion, depreciation and amortization rate.
The proceeds of the Loans shall be used for (a) the acquisition of the Entrada Field and related expenses, (b) exploration and development of Oil and Gas Properties in the Entrada Field acquired, and (c) general corporate purposes.
This is a decrease of 208.8 Bcfe from year-end 2007 and is attributable to the sale of a working interest in the Entrada Field (45%), the previously announced suspension of operations at the Entrada Field in November 2008 (47%) and 2008 production and other changes (8%).
The Reserve Report due 30 days prior to April 1 of each year shall be for reserves attributable to the Borrower and its Subsidiaries’ proved Oil and Gas Properties in the Entrada Field or otherwise constituting Collateral as of the previous January 1 and be prepared by Hxxxxxxxxx & Co., Inc.
This represents an increase of 81% from 2006 year-end proved reserves of 145.6 Bcfe, which is primarily attributable to the company’s acquisition of BP Exploration and Production Company’s (BP) working interest in the Entrada Field in April 2007.