Strip Prices means, as of the last day of the Issuer’s most recently ended fiscal quarter prior to any date of determination, the forward month prices for the most comparable Hydrocarbon commodity applicable to such future production month for a five year period (or such shorter period if forward month prices are not quoted for a reasonably comparable Hydrocarbon commodity for the full five year period), with such prices held constant thereafter based on the last quoted forward month price of such period, as such prices are (i) quoted on the NYMEX (or its successor) as of the date of determination and (ii) as adjusted in good faith by management for energy content, quality and basis differentials; provided that with respect to estimated future production for which prices are defined, within the meaning of SEC guidelines, by contractual arrangements excluding escalations based upon future conditions, then such contract prices shall be applied to future production subject to such arrangements.
Strip Prices means, as of any date of determination, the forward month prices for the most comparable Hydrocarbon commodity applicable to such future production month for a five year period (or such shorter period if forward month prices are not quoted for a reasonably comparable Hydrocarbon commodity for the full five year period), with such prices held constant thereafter based on the last quoted forward month price of such period, as such prices are (i) quoted on the NYMEX (or its successor) as of the Company’s most recently completed fiscal year, the Company’s most recently completed fiscal quarter, or the ACNTA Calculation Date, as applicable, and (ii) as adjusted in good faith by management for energy content, quality and basis differentials; provided that, with respect to estimated future production for which prices are defined, within the meaning of SEC guidelines, by contractual arrangements (excluding escalations based upon future conditions), then such contract prices shall be applied to future production subject to such arrangements.
Strip Prices means, as of any date of determination, the average of each twelve month’s forward monthly prices for the most comparable hydrocarbon commodity applicable over a three year period from such date of determination, with such prices held constant thereafter based on the third year’s average monthly prices, as such prices are (a) quoted on the New York Mercantile Exchange (or its successor) as of the calculation date and (b) adjusted for energy content, quality and basis differentials; provided with respect to estimated future production for which prices are defined, within the meaning of SEC guidelines, by contractual arrangements excluding escalations based upon future conditions, then such contract prices are applied to future production subject to such arrangements.
Examples of Strip Prices in a sentence
Capital expenditures are from company sources 2002 '03 '04 '05 '06 '07 '08 Equity 30.74 35.2 43.8 54.8 87 104 117 Debt Debt / Cap Ratio 0.39 Debt Ratio Impact NYMEX Strip Prices '03 '04 '05 '06 '07 '08 Debt 17.8 15 13 19 8 0 Equity $B Balance sheet debt $B 2002 '03 '04 '05 '06 '07 '08 Debt / Cap Ratio 39 33.6 25.5 19.2 18 7 0 Debt to capital ratio % Based on 2006 & 2007 NYMEX Strip prices Equity includes minority interest.
Year End Proved Reserves Target Year End and Strip Pricing on 12/31/08 $44.60/$5.71 292 $52.88/$6.10 449 $68.21/$7.26 636 -204 MMBOE revision due to price 277 72% PD 28% PUD 15 H-Ville 20 Friesian 54 H-Ville 375 24 Friesian 105 H-Ville 400 24 Friesian 162 H-Ville 450 CAGR 30% NYMEX oil and gas Strip Prices used are illustrated above the respective years and assumes recent historical average differentials of 15%.
Royalty Owner will also have the right to liquidate and determine, in good faith and in a commercially reasonable manner, Royalty Owner’s future damages reasonably to be expected from the loss of future sales of Production Payment Hydrocarbons to Working Interest Owner at the NYMEX Strip Prices from time to time in effect and the replacement of such sales to Working Interest Owner at such NYMEX Strip Prices with sales to other purchasers at prices then available or reasonably expected to be available.
Assumes initial net debt @ closing of $29B Discretionary Cash Flow NYMEX Strip Prices $ Billion 2006 2007 Net Income 20.2 19.2 Cash Flow from Operations 28.8 28.6 Capital Expenditures & other (17.2) (15.4) Net Cash Flow 11.6 13.2 Note: Capital expenditures and other includes LUK, share purchases, and loans to affiliates.
Recent Trading Prices $ 20.00 $ 22.00 Based on Range of Strip Prices for YTD 1997 Comparable Security Analysis $ 21.20 $ 24.00 Based on Market Yields of 7.50% to 8.50% Tender Offer Analysis $ 22.75 $ 26.00 Based on Spread to 30 year treasury of 50 to 150bp Discounted Cash Flow $ 21.00 $ 23.50 Based on Discount Rates of 7.50% to 8.50% RANGE OF VALUE: $ 20.00 $ 26.00 -------------------------------------------------------------------------------- [LIBRA INVESTMENTS, INC.
More Definitions of Strip Prices
Strip Prices means, as of any date of determination, the forward month prices as of the last Business Day of the fiscal year or fiscal quarter of Holdings immediately preceding such date of determination for the most comparable hydrocarbon commodity applicable to such future production month for a five-year period (or such shorter period if forward month prices are not quoted for a reasonably comparable hydrocarbon commodity for the full five year period), with such price held flat for each subsequent year based on the average forward month price for each of the twelve months in such fifth year, as such prices are (a) quoted on the NYMEX (or its successor) as of the date of determination and (b) adjusted, in good faith by the Borrower, for any basis differential as of the date of determination, without future escalation; provided that with respect to estimated future production for which prices are defined, within the meaning of SEC guidelines, by contractual arrangements excluding escalations based upon future conditions, then such contract prices shall be applied to future production subject to such arrangements.
Strip Prices means, as of any date of determination with respect to any month prior to and including December 2026 (a) for crude oil, the closing settlement price for the CL Light, Sweet Crude Oil futures contract for each month and (b) for natural gas, the closing settlement price for the XX Xxxxx Hub Natural Gas futures contract for such month, in each case as published by New York Mercantile Exchange (NYMEX) on such date. For any month after December 2026, Strip Prices for such month will be equal to the relevant published contract price for December 2026, escalated at a rate equal to 1.5% per annum.
Strip Prices means, as of any date of determination, the forward month prices for the most comparable Hydrocarbon commodity applicable to such future production month for a five year period (or such shorter period if forward month prices are not quoted for a reasonably comparable Hydrocarbon commodity for the full five year period), with such prices held constant thereafter based on the last quoted forward month price of such period, as such prices are (i) quoted on the NYMEX (or its successor) as of the calculation date (as defined in the definition of Modified ACNTA) and (ii) as adjusted in good faith by management for energy content, quality and basis differentials; provided that with respect to estimated future production for which prices are defined, within the meaning of SEC guidelines, by contractual arrangements excluding escalations based upon future conditions, then such contract prices shall be applied to future production subject to such arrangements.
Strip Prices means, as of any Pricing Date, (x) the actual price for each month from the related Reserve Date to the Pricing Date, if the Pricing Date is after the Reserve Date, and (y) the forward price for each month after such date to and including the last month for which such prices are available (such month, the “Series End”; as of the Initial Closing Date, the month that is ten years after the current month) (a) for crude oil, the closing settlement price for the CL Light, Sweet Crude Oil futures contract for each such month and (b) for natural gas, the closing settlement price for the XX Xxxxx Hub Natural Gas futures contract for each such month, in each case as published by New York Mercantile Exchange (NYMEX) on such date. For any month after the Series End, Strip Prices for such month will be equal to the relevant published contract price for the Series End, escalated at a rate equal to 1.5% per annum.
Strip Prices means, as of any date of determination, the forward month prices for the most comparable Hydrocarbon commodity applicable to such future production month for a five year period (or such shorter period if forward month prices are not quoted for a reasonably comparable Hydrocarbon commodity for the full specified period), with such prices held constant thereafter based on the last quoted forward month price of such period, as such prices are (i) quoted on the NYMEX (or its successor), and (ii) as adjusted in good faith by the Issuer’s management for energy content, quality and basis differentials; provided that, with respect to estimated future production for which prices are defined, within the meaning of SEC guidelines, by contractual arrangements (excluding escalations based upon future conditions), then such contract prices shall be applied to future production subject to such arrangements.
Strip Prices means, as of any date of determination, the forward month prices for the most comparable Hydrocarbon commodity applicable to such future production month for a five-year period (or such shorter period if forward month prices are not quoted for a reasonably comparable Hydrocarbon commodity for the full five year period), with such prices held constant thereafter based on the last quoted forward month price of such period, as such prices are (1) quoted on the NYMEX (or its successor) as of the Issuers’ most recently completed fiscal year, the Issuers’ most recently completed fiscal quarter, or the Calculation Date and (2) as adjusted in good faith by management for energy content, quality and basis differentials; provided that, with respect to estimated future production for which prices are defined, within the meaning of SEC guidelines, by contractual arrangements (excluding escalations based upon future conditions), then such contract prices shall be applied to future production subject to such arrangements.
Strip Prices means, as of any date of determination with respect to any month before and including ten years thereafter (or the last date for which there is such a contract, if earlier) (a) for crude oil, the closing settlement price for the CL Light, Sweet Crude Oil futures contract for each month and (b) for natural gas, the closing settlement price for the XX Xxxxx Hub Natural Gas futures contract for such month, in each case as published by New York Mercantile Exchange (NYMEX) on such date. For any month more than ten years (or the last date for which there is a relevant contract, if earlier) after the date of determination, Strip Prices for such month will be equal to the relevant published contract price for the month ten years after the date of determination, escalated at a rate equal to 1.5% per annum.