Management's Discussion and Analysis of Financial Condition and Results of Operations. Such costs include field personnel compensation, salt water disposal, utilities, maintenance, repairs and servicing expenses related to the Partnership's oil and natural gas properties, along with the gathering and processing contract in effect for the extraction, transportation and treatment of natural gas. As a result of the depressed commodity prices caused by the economic conditions and anticipated reduced production discussed below, in conjunction with having no current additional capital resources other than cash flow from operations, the Partnership may not be able to timely meet its obligations to Whiting as they come due. (2020) Format: eBook $34.99. Téléchargez gratuitement La Presse+, votre application d’information francophone conçue spécifiquement pour les tablettes numériques. Costs of acquiring proved properties are depleted using the unit-of-production method on a field basis based on total estimated proved developed and undeveloped reserves. Production taxes as a percentage of revenue may fluctuate dependent upon the ratio of sales of natural gas and NGL to total sales. Certain statements within this report may constitute forward-looking statements.
Debt" in Part I, Item 1 of this Form 10-Q for further discussion); (ii) reaching an agreement with Whiting to resolve the Partnership's obligations to Whiting; (iii) securing additional capital; (iv) an increase in demand for oil and natural gas as the global economy recovers from the effects of the COVID-19 pandemic and the existing oversupply of oil in the United States; and (v) an increase in oil and natural gas market prices, which will improve the Partnership's cash flow generated from operations. Such factors include, but are not limited to, those described under "Risk Factors" in the Partnership's Annual Report on Form 10-K for the year ended December 31, 2019, those described under "Part II. Also, because reduced demand and excess supply have strained storage facilities, operators may not be able to sell produced oil and natural gas at an economical price point, especially during the second quarter of 2020. On December 18, 2015, the Partnership completed its first purchase ("Acquisition No. Montréal, Québec Russia did not participate in production cuts coordinated by the Organization of the Petroleum Exporting Countries ("OPEC"), which led to Saudi Arabia lowering crude oil prices and both countries substantially increasing daily output of crude oil. The Partnership's ability to continue as a going concern is dependent on several factors including, but not limited to, (i) its lender group providing waivers to certain covenants and the Partnership's ability to comply with other obligations under its loan agreement (see "Note 4. The Partnership anticipates these curtailments and shut-ins will continue as long as producing is uneconomical. Revenues for the sale of natural gas were $1.0 million, which resulted in a realized price of $3.50 per Mcf. La plus grande salle de rédaction du Québec vous offre une couverture riche et diversifiée de l'actualité à toute heure de la journée.Download La Presse +, your French-language information application designed specifically for digital tablets, for free. 333-197476) was declared effective by the SEC. Due to these severe negative impacts to the global oil and gas industry, Whiting suspended its Sanish field drilling program during the second quarter of 2020. They include, but are not limited to, any statement that may predict, forecast, indicate or imply future results, performance, achievements or events. 59 talking about this. These measures include significant restrictions on travel, forced quarantines, stay-at-home requirements and the closure of businesses in many industries, creating extreme volatility in capital markets and the global economy. Téléchargez la toute dernière version dès maintenant pour profiter des modifications apportées :Facile à comprendre et agréable à lire le matin avec un bon lattéJ'aime cette app car c'est amusant car je m'amuse en regardant cette app amusante.Et moi qui avait des réticences à passer du papier à la version électronique ! the easing of COVID-19 and the return to pre-existing conditions following the ultimate recovery therefrom; The Partnership was formed to acquire and develop oil and gas properties located onshore in the United States. DD&A of capitalized drilling and development costs of producing oil, natural gas and NGL properties are computed using the unit-of-production method on a field basis based on total estimated proved developed oil, natural gas and NGL reserves.
that the Partnership's development of its oil and gas properties may not be successful or that the Partnership's operations on such properties may not be successful; For the three months ended March 31, 2019, revenues for oil, natural gas and NGL sales were $10.1 million. Save up to 90% on eBook purchases.JavaScript is currently disabled, this site works much better if you Subsequent to the Partnership's election to participate in Whiting's drilling program, several factors, described in "Current Price Environment" below, have had a significant adverse impact on the Partnership's business and its financial condition. The general partner is Energy 11 GP, LLC (the "General Partner"). For the three months ended March 31, 2020, revenues for oil, natural gas and NGL sales were $11.1 million. Apress source code now available on GitHub. On January 11, 2017, the Partnership closed on its second purchase ("Acquisition No. 2020 2019 2018 2017.