Going Concern Value. Stanxxx xxxiewed the going concern value calculation prepared for each partnership by Pioneer USA. Such going concern value was based upon the estimated net cash flow from sale of the reserves during a 10-year operating period less partnership level general and administrative expenses equal to 3% of revenues except for certain partnerships where 2% was utilized consistent with 1998 and 1999 expense levels. Such cash flows plus the residual value from the sale of the remaining reserves at the end of the operating period were discounted to present value at a discount rate of 12.5%. Stanxxx xxxerved that the going concern value of each partnership ranged from % to % less than the merger values.
Appears in 25 contracts
Samples: Agreement and Plan of Merger (Pioneer Natural Resources Usa Inc), Agreement and Plan of Merger (Pioneer Natural Resources Usa Inc), Agreement and Plan of Merger (Pioneer Natural Resources Usa Inc)
