SEC PV10 definition
SEC PV10 means the standardized measure of future net cash flows discounted at 10%, determined in all material respects in accordance with the rules and regulations of the SEC, including the assumption of the continuation of existing economic conditions and estimated by applying period-end gas and condensate prices, adjusted for future price changes as allowed by contract, to estimated future production of period-end proved reserves.
SEC PV10 means the pre tax future net cash flows from proved oil and gas reserves of the Company and its Subsidiaries at June 30, 1998, computed using a discount factor of ten percent, as determined in accordance with the rules, regulations and guidelines of the United States Securities and Exchange Commission and reported in the reserve report dated as of such date prepared in accordance with Section 6.11 of the Purchase Agreement.
Examples of SEC PV10 in a sentence
The Company and its Restricted Subsidiaries will not allow the ratio of their SEC PV-10 to Consolidated Leverage to be less than 1.4 to 1.0 as of the last day of each fiscal year and shall certify their compliance with this Section 4.22 in the Officers’ Certificate delivered to the Trustee in accordance with Section 4.04(a) hereof following the completion of each fiscal year.