LGCY » Topics » Assumptions/Approach Used:

These excerpts taken from the LGCY 10-K filed Mar 6, 2009.
Assumptions/Approach Used: Units-of-production method to deplete our oil and natural gas properties — The quantity of reserves could significantly impact our depletion expense. Any reduction in proved reserves without a corresponding reduction in capitalized costs will increase the depletion rate.

     

Assumptions/Approach Used: Units-of-production method to deplete our oil and natural gas properties — The quantity of reserves could significantly impact our depletion expense. Any reduction in proved reserves without a corresponding reduction in capitalized costs will increase the depletion rate.

     

Assumptions/Approach Used: Units-of-production method to deplete our oil and natural gas properties — The quantity of reserves could significantly impact our depletion expense. Any reduction in proved reserves without a corresponding reduction in capitalized costs will increase the depletion rate.

     

Assumptions/Approach Used: Estimating the future asset removal costs is difficult and requires management to make estimates and judgments because most of the removal obligations are many years in the future and contracts and regulations often have vague descriptions of what constitutes removal. Asset removal technologies and costs are constantly changing, as are regulatory, political, environmental, safety and public relations considerations. Inherent in the estimate of the present value calculation of our AROs are numerous assumptions and judgments including the ultimate settlement amounts, inflation factors, credit-adjusted-risk-free rates, timing of settlement, and changes in the legal, regulatory, environmental and political environments.

     

Assumptions/Approach Used: Estimating the future asset removal costs is difficult and requires management to make estimates and judgments because most of the removal obligations are many years in the future and contracts and regulations often have vague descriptions of what constitutes removal. Asset removal technologies and costs are constantly changing, as are regulatory, political, environmental, safety and public relations considerations. Inherent in the estimate of the present value calculation of our AROs are numerous assumptions and judgments including the ultimate settlement amounts, inflation factors, credit-adjusted-risk-free rates, timing of settlement, and changes in the legal, regulatory, environmental and political environments.

     

Assumptions/Approach Used: Estimating the future asset removal costs is difficult and requires management to make estimates and judgments because most of the removal obligations are many years in the future and contracts and regulations often have vague descriptions of what constitutes removal. Asset removal technologies and costs are constantly changing, as are regulatory, political, environmental, safety and public relations considerations. Inherent in the estimate of the present value calculation of our AROs are numerous assumptions and judgments including the ultimate settlement amounts, inflation factors, credit-adjusted-risk-free rates, timing of settlement, and changes in the legal, regulatory, environmental and political environments.

     

Assumptions/Approach Used: Units-of-production method to deplete our oil and natural gas properties
— The quantity of reserves could significantly impact our depletion expense. Any
reduction in proved reserves without a corresponding reduction in capitalized
costs will increase the depletion rate.


     

Assumptions/Approach Used: Units-of-production method to deplete our oil and natural gas properties
— The quantity of reserves could significantly impact our depletion expense. Any
reduction in proved reserves without a corresponding reduction in capitalized
costs will increase the depletion rate.


     

Assumptions/Approach Used: Units-of-production method to deplete our oil and natural gas properties
— The quantity of reserves could significantly impact our depletion expense. Any
reduction in proved reserves without a corresponding reduction in capitalized
costs will increase the depletion rate.


     

Assumptions/Approach Used: Units-of-production method to deplete our oil and natural gas properties
— The quantity of reserves could significantly impact our depletion expense. Any
reduction in proved reserves without a corresponding reduction in capitalized
costs will increase the depletion rate.


     

Assumptions/Approach Used: Estimating
the future asset removal costs is difficult and requires management to make
estimates and judgments because most of the removal obligations are many years
in the future and contracts and regulations often have vague descriptions of
what constitutes removal. Asset removal technologies and costs are constantly
changing, as are regulatory, political, environmental, safety and public
relations considerations. Inherent in the estimate of the present value
calculation of our AROs are numerous assumptions and judgments including the
ultimate settlement amounts, inflation factors, credit-adjusted-risk-free rates,
timing of settlement, and changes in the legal, regulatory, environmental and
political environments.


     

Assumptions/Approach Used: Estimating
the future asset removal costs is difficult and requires management to make
estimates and judgments because most of the removal obligations are many years
in the future and contracts and regulations often have vague descriptions of
what constitutes removal. Asset removal technologies and costs are constantly
changing, as are regulatory, political, environmental, safety and public
relations considerations. Inherent in the estimate of the present value
calculation of our AROs are numerous assumptions and judgments including the
ultimate settlement amounts, inflation factors, credit-adjusted-risk-free rates,
timing of settlement, and changes in the legal, regulatory, environmental and
political environments.


     

Assumptions/Approach Used: Estimating
the future asset removal costs is difficult and requires management to make
estimates and judgments because most of the removal obligations are many years
in the future and contracts and regulations often have vague descriptions of
what constitutes removal. Asset removal technologies and costs are constantly
changing, as are regulatory, political, environmental, safety and public
relations considerations. Inherent in the estimate of the present value
calculation of our AROs are numerous assumptions and judgments including the
ultimate settlement amounts, inflation factors, credit-adjusted-risk-free rates,
timing of settlement, and changes in the legal, regulatory, environmental and
political environments.


     

Assumptions/Approach Used: Estimating
the future asset removal costs is difficult and requires management to make
estimates and judgments because most of the removal obligations are many years
in the future and contracts and regulations often have vague descriptions of
what constitutes removal. Asset removal technologies and costs are constantly
changing, as are regulatory, political, environmental, safety and public
relations considerations. Inherent in the estimate of the present value
calculation of our AROs are numerous assumptions and judgments including the
ultimate settlement amounts, inflation factors, credit-adjusted-risk-free rates,
timing of settlement, and changes in the legal, regulatory, environmental and
political environments.


     

EXCERPTS ON THIS PAGE:

10-K (14 sections)
Mar 6, 2009
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