From MHR report - HUH?
Is that a typo? Henry Hub prices look suspicious too
Under Securities and Exchange Commission guidelines, the commodity prices used in the December 31, 2014 and December 31, 2013 proved reserve estimates were based on the 12-month unweighted arithmetic average of the first day of the month prices for the period January 1, 2014 through December 1, 2014, and for the period January 1, 2013 through December 1, 2013, respectively, adjusted by lease for transportation fees and regional price differentials. For crude oil volumes, the average West Texas Intermediate posted price of $94.99 per barrel used to calculate PV-10 at December 31, 2014 was down 2% from the average price of $96.78 per barrel used to calculate PV-10 at December 31, 2013. For natural gas volumes, the average Henry Hub spot price of $4.31 per million British thermal units ("MMBTU") used to calculate PV-10 at December 31, 2014 was up 17% from the average price of $3.67 per MMBTU used to calculate PV-10 at December 31, 2013. All prices were held constant throughout the estimated economic life of the properties. |
