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These excerpts taken from the DVN 10-K filed Feb 27, 2009. Production
Sharing Contracts
Some of our international licenses are governed by production
sharing contracts (“PSCs”) between the concessionaires
and the granting government agency. PSCs are contracts that
define and regulate the framework for investments, revenue
sharing, and taxation of mineral interests in foreign countries.
Unlike most domestic leases, PSCs have defined production terms
and time limits of generally 30 years. PSCs also generally
contain sliding scale revenue sharing provisions. As a result,
at either higher production rates or higher cumulative rates of
return, PSCs generally allow the government agency to retain
higher fractions of revenue.
Production
Sharing Contracts
Some of our international licenses are governed by production
sharing contracts (“PSCs”) between the concessionaires
and the granting government agency. PSCs are contracts that
define and regulate the framework for investments, revenue
sharing, and taxation of mineral interests in foreign countries.
Unlike most domestic leases, PSCs have defined production terms
and time limits of generally 30 years. PSCs also generally
contain sliding scale revenue sharing provisions. As a result,
at either higher production rates or higher cumulative rates of
return, PSCs generally allow the government agency to retain
higher fractions of revenue.
Production Sharing Contracts Some of our international licenses are governed by production sharing contracts (“PSCs”) between the concessionaires and the granting government agency. PSCs are contracts that define and regulate the framework for investments, revenue sharing, and taxation of mineral interests in foreign countries. Unlike most domestic leases, PSCs have defined production terms and time limits of generally 30 years. PSCs also generally contain sliding scale revenue sharing provisions. As a result, at either higher production rates or higher cumulative rates of return, PSCs generally allow the government agency to retain higher fractions of revenue. Production Sharing Contracts Some of our international licenses are governed by production sharing contracts (“PSCs”) between the concessionaires and the granting government agency. PSCs are contracts that define and regulate the framework for investments, revenue sharing, and taxation of mineral interests in foreign countries. Unlike most domestic leases, PSCs have defined production terms and time limits of generally 30 years. PSCs also generally contain sliding scale revenue sharing provisions. As a result, at either higher production rates or higher cumulative rates of return, PSCs generally allow the government agency to retain higher fractions of revenue. These excerpts taken from the DVN 10-K filed Jun 9, 2008. Production
Sharing Contracts
Many of our international licenses are governed by production
sharing contracts (“PSCs”) between the concessionaires
and the granting government agency. PSCs are contracts that
define and regulate the framework for investments, revenue
sharing, and taxation of mineral interests in foreign countries.
Unlike most domestic leases, PSCs have defined production terms
and time limits of generally 30 years. PSCs also generally
contain sliding scale revenue sharing provisions. As a result,
at either higher production rates or higher cumulative rates of
return, PSCs generally allow the government agency to retain
higher fractions of revenue.
Production Sharing Contracts Many of our international licenses are governed by production sharing contracts (“PSCs”) between the concessionaires and the granting government agency. PSCs are contracts that define and regulate the framework for investments, revenue sharing, and taxation of mineral interests in foreign countries. Unlike most domestic leases, PSCs have defined production terms and time limits of generally 30 years. PSCs also generally contain sliding scale revenue sharing provisions. As a result, at either higher production rates or higher cumulative rates of return, PSCs generally allow the government agency to retain higher fractions of revenue. These excerpts taken from the DVN 10-K filed Feb 28, 2008. Production
Sharing Contracts
Many of our international licenses are governed by production
sharing contracts (“PSCs”) between the concessionaires
and the granting government agency. PSCs are contracts that
define and regulate the framework for investments, revenue
sharing, and taxation of mineral interests in foreign countries.
Unlike most domestic leases, PSCs have defined production terms
and time limits of generally 30 years. PSCs also generally
contain sliding scale revenue sharing provisions. As a result,
at either higher production rates or higher cumulative rates of
return, PSCs generally allow the government agency to retain
higher fractions of revenue.
Production Sharing Contracts Many of our international licenses are governed by production sharing contracts (“PSCs”) between the concessionaires and the granting government agency. PSCs are contracts that define and regulate the framework for investments, revenue sharing, and taxation of mineral interests in foreign countries. Unlike most domestic leases, PSCs have defined production terms and time limits of generally 30 years. PSCs also generally contain sliding scale revenue sharing provisions. As a result, at either higher production rates or higher cumulative rates of return, PSCs generally allow the government agency to retain higher fractions of revenue. This excerpt taken from the DVN 10-K filed Feb 28, 2007. Production
Sharing Contracts
Many of our international licenses are governed by Production
Sharing Contracts (“PSCs”) between the concessionaires
and the granting government agency. PSCs are contracts that
define and regulate the framework for investments, revenue
sharing, and taxation of mineral interests in foreign countries.
Unlike most domestic leases, PSCs have defined production terms
and time limits of generally 30 years. PSCs also generally
contain sliding scale revenue sharing provisions. As a result,
at either higher production rates or higher cumulative rates of
return, PSCs generally allow the government partner to retain
higher fractions of revenue.
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