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COG » Topics » We may not be insured against all of the operating risks to which we are exposed.

These excerpts taken from the COG 10-K filed Feb 27, 2009.

We may not be insured against all of the operating risks to which we are exposed.

We maintain insurance against some, but not all, of these risks and losses. We do not carry business interruption insurance. In addition, pollution and environmental risks generally are not fully insurable. The occurrence of an event not fully covered by insurance could have a material adverse effect on our financial position and results of operations.

We may not be insured against all of the operating risks to which we are exposed.

STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%">We maintain insurance against some, but not all, of these risks and losses. We do not carry business interruption insurance. In addition, pollution and
environmental risks generally are not fully insurable. The occurrence of an event not fully covered by insurance could have a material adverse effect on our financial position and results of operations.

STYLE="margin-top:18px;margin-bottom:0px">We have limited control over the activities on properties we do not operate.

FACE="Times New Roman" SIZE="2">Other companies operate some of the properties in which we have an interest. Non-operated wells represented approximately 15% of our total owned gross wells, or approximately 4.8% of our owned net wells, as of
December 31, 2008. We have limited ability to influence or control the operation or future development of these non-operated properties or the amount of capital expenditures that we are required to fund with respect to them. The failure of an
operator of our wells to adequately perform operations, an operator’s breach of the applicable agreements or an operator’s failure to act in ways that are in our best interest could reduce our production and revenues. Our dependence on the
operator and other working interest owners for these projects and our limited ability to influence or control the operation and future development of these properties could materially adversely affect the realization of our targeted returns on
capital in drilling or acquisition activities and lead to unexpected future costs.

This excerpt taken from the COG 10-K filed Feb 27, 2008.

We may not be insured against all of the operating risks to which we are exposed.

We maintain insurance against some, but not all, of these risks and losses. We do not carry business interruption insurance. In addition, pollution and environmental risks generally are not fully insurable. The occurrence of an event not fully covered by insurance could have a material adverse effect on our financial position and results of operations.

 

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Index to Financial Statements

EXCERPTS ON THIS PAGE:

10-K (2 sections)
Feb 27, 2009
10-K
Feb 27, 2008

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