PV10 definition

PV10 means the present worth of future net income, discounted to present value at the simple interest rate of ten percent (10%) per year.

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PV10 means estimated future net revenue, discounted at a rate of 10% per annum, after income Taxes and with no price or cost escalation or de-escalation in accordance with guidelines promulgated by the SEC, using the Administrative Agent’s price deck.

PV10 means, in respect of the Proved Developed Producing Reserves of the Partnership’s and its Subsidiaries’ oil and gas properties, the net present value of future cash flows (discounted at 10% per annum) as reasonably calculated in good faith by the Partnership, and, if requested by the Record Holders of the Series A Required Voting Percentage, certified in writing by an authorized officer of the Partnership to the Record Holders as true and correct, but provided that each calculation of such expected future cash flow shall be made in accordance with the then existing standards of the Society of Petroleum Engineers, provided, further, that in any event (a) appropriate deductions shall be made for severance and ad valorem taxes, and for operating, gathering, transportation and marketing costs required for the production and sale of such reserves, (b) the pricing assumptions used in determining PV10 for any particular reserves shall be based upon the Strip Price and (c) the cash-flows derived from the pricing assumptions set forth in clause (b) above shall be further adjusted to account for the historical basis differential.

Examples of PV10 in a sentence

Furthermore, any properties described in such notice shall be excluded from the determination of PV-10 and Total PDP PV-10 for any other purpose of calculation under the Loan Documents unless the applicable title defect is cured to the reasonable satisfaction of the Administrative Agent.
The Administrative Agent may send a notice to the Borrower and the Lenders that the then outstanding Borrowing Base shall be reduced by an amount as determined by the Required Lenders to cause the Borrower to be in compliance with the requirement to provide acceptable title information on 80% of the PV10 of the Proven Reserves of the Borrower and its Subsidiaries shown on the most recently delivered Engineering Report.
This report shall be reasonably satisfactory to Administrative Agent, shall be prepared using PV10 Pricing, shall take into account any “over-produced” status under gas balancing arrangements, and shall contain information and analysis consistent in form and scope in all material respects to that contained in the Initial Engineering Report.
If the Oil and Gas Properties being substituted have a value in excess of 10% of the PV-10 Value of the Borrowing Base Properties at such time, the Borrowing Base shall be redetermined prior to the date of such substitution in accordance with the procedures set forth in subsection 4.9 which would have applied had a Borrower Redetermination Notice or a Lender Redetermination Notice been delivered.
The Borrower shall, and shall cause each Subsidiary to, grant to the Administrative Agent an Acceptable Security Interest in all personal Property of the Borrower or any Subsidiary now owned or hereafter acquired, and shall, and shall cause each Subsidiary to, grant to the Administrative Agent an Acceptable Security Interest in at least 90% of the PV-10 of the Proven Reserves of the Borrower and its Subsidiaries based on its most recently delivered Engineering Report.

More Definitions of PV10

PV10 means the present value of estimated future net revenues to be generated from the production of proved reserves and discounted using an annual discount rate of 10%;

PV10 means, in respect of either of the Proved Developed Producing Reserves or the Proved Reserves of any Note Party’s Oil and Gas Properties, as applicable, the present value of future cash flows (discounted at ten percent (10%) per annum) calculated by the Lead Investor in its sole and reasonable judgment (including using the price curve and costs determined in accordance with the definition of Reserve Report) after having reviewed the information from the most recent Reserve Report delivered by the Issuer pursuant to Section 6.1(p) and taking into account all other factors which the Lead Investor reasonably deems material.

PV10 means, in respect of the Proved Developed Producing Reserves of any Credit Parties’ Oil and Gas Interests set forth in the most recently delivered Reserve Report, the present value of future cash flows (discounted at ten percent (10%) per annum)

PV10 means, as of any date of determination for any Person or group of Persons, the present value of estimated future revenues less severance and ad valorem taxes, operating, gathering, transportation and marketing expenses and capital expenditures from the production of Proved Reserves on such Person’s or such group’s Oil and Gas Properties as set forth in the most recent Reserve Report delivered pursuant hereto, calculated in accordance with the SEC guidelines and using the Five-Year Strip Price for crude oil (WTI ▇▇▇▇▇▇▇) and natural gas (▇▇▇▇▇ Hub), quoted on the New York Mercantile Exchange (or its successor) on such date of determination, adjusted for any basis differential, quality and gravity, using prices and costs as of the date of estimation without future escalation, without giving effect to non-property related expenses such as general and administrative expenses, debt service, future income tax expense and depreciation, depletion and amortization, and discounted using an annual discount rate of 10%. PV10 shall be adjusted to give effect to the Swap Agreements with Approved Counterparties then in effect.

PV10 means, with respect to any proved reserves expected to be produced from any Oil and Gas Properties, the net present value, discounted at 10% per annum, of the future net revenues expected to accrue to the Borrower’s and its Domestic Subsidiaries’ collective interests in such reserves during the remaining expected economic lives of such reserves, calculated in accordance with pricing assumptions reflected in the most recent Reserve Report.

PV10 or “NPV10” means, unless otherwise stated, the net present value of future net revenue, after deductions for operating and capital expenses, production taxes but before corporate income tax and corporate overheads, using a real, pre-tax discount rate of 10%

PV10 means, in respect of the Proved Reserves of any Issuer’s or any Guarantor’s Oil and Gas Properties, the net present value of future cash flows (discounted at a rate of ten percent per annum) on a pre-income tax basis calculated by the Company based on the information from the most recent Reserve Report that is available and taking into account all other factors which are reasonably deemed by the Company to be material, but provided that each calculation of such expected future cash flow shall be made in accordance with the then existing standards of the Society of Petroleum Engineers, provided that in any event (i) reasonable adjustments as determined in good faith by management shall be made for management’s projections of (a) operating, gathering, transportation and marketing costs required for the production and sale of such reserves, (b) capital expenditures required to maintain and develop such reserves and (c) basis differentials, (ii) reasonable adjustments as determined in good faith by management shall be made for the acquisition and sale of reserves since the date of such Reserve Report (with such adjustments being based on the Strip Price as of March 15 or September 15, as applicable, or a date that is mutually agreed by the Company and the Majority Holders) and (iii) the pricing assumptions used in determining PV10 for any particular reserves shall be based upon the Strip Price as of March 15 or September 15, as applicable, or a date that is mutually agreed by the Company and the Majority Holders; provided that, for purposes of calculating PV10 for purposes of the Proved Reserves Coverage Ratio for all purposes hereunder, no more than 40% of such amount may be attributable to Proved Reserves described in the applicable Reserve Report other than Proved Developed Producing Reserves. PV10 shall be adjusted to give effect to Hedging Contracts as in effect on the date of determination.