Assumes the Mid Point of Guidance Range Sample Clauses


Assumes the mid-point of guidance range. Forest’s guidance for 2014 remains subject to the cautionary statements and limitations contained in Forest’s December 2, 2013, press release under the caption “2014 Guidance” as well as those stated below under the caption “Forward-Looking Statements.” DERIVATIVE INSTRUMENTS As of February 25, 2014, Forest had natural gas and oil derivatives in place for 2014 and 2015 covering the aggregate average daily volumes and weighted average prices shown below: Natural gas swaps: Contract volumes (Bbtu/d) 70.0 20.0 Weighted average price (per MMBtu) $ 4.38 $ 4.20 Natural gas collars: Contract volumes (Bbtu/d) - 4.9 Ceiling price (per MMBtu) $ - $ 5.31 Floor price (per MMBtu) $ - $ 4.50 Oil swaps: Contract volumes (MBbls/d) 3.5 - Weighted average price (per Bbl) $ 95.34 $ - In connection with entering into certain 2014 oil swaps with premium hedged prices, Forest sold oil puts that gave the counterparties the option to put 2,000 Bbls/d to Forest at a weighted average price of $70.00 per Bbl on a monthly basis during 2014. In connection with the execution of certain commodity swaps shown in the table above, Forest sold swaption instruments to counterparties in exchange for Forest receiving premium hedged prices on the swaps. The table below sets forth the outstanding swaptions as of February 25, 2014: