KWK » Topics » Contractual Obligations.

These excerpts taken from the KWK 10-K filed Mar 3, 2009.
Contractual Obligations.
 
Information regarding our contractual and scheduled interest obligations, at December 31, 2008, is set forth in the following table.
 
                                 
    Transportation
    Drilling Rig
    Operating
    Purchase
 
    Contracts(1)     Contracts(2)     Leases(3)     Obligations(4)  
          (In thousands)        
 
2009
  $ 8,768     $ 45,620     $ 3,612     $ 13,800  
2010
    21,087       19,689       2,122       -  
2011
    33,406       6,241       1,263       -  
2012
    45,747       -       478       -  
2013
    47,473       -       9       -  
Thereafter
    242,535       -       -       -  
                                 
Total
  $   399,016     $   71,550     $     7,484     $   13,800  
                                 
 
 
(1) Under contracts with various pipeline companies, the Company is obligated to transport minimum daily gas volumes, as calculated on a monthly basis, or pay for any deficiencies at a specified reservation fee rate. The production committed to the pipelines is expected to meet, or exceed, the daily volumes required under the contracts.
 
(2) The Company leases drilling rigs from third parties for use in our development and exploration programs. The outstanding drilling rig contracts require payment of a specified day rate ranging from $20,000 to $23,200 for the entire lease term regardless of our utilization of the drilling rigs.
 
(3) The Company leases office buildings and other property under operating leases. Our operating lease obligations include $0.6 million of future lease payments to a company that is owned by members of the Darden family. Rent expense for operating leases with terms exceeding one month was $5.0 million in 2008, $5.2 million in 2007 and $3.5 million in 2006.
 
(4) At December 31, 2008, KGS was under contract to purchase goods and services for completion of the Corvette Plant and for compressors. Total remaining cash obligations for these goods and services were $13.8 million, including $1.2 million recognized during 2008. KGS placed the Corvette Plant into service during the first quarter of 2009.
 
Contractual Obligations.
 
Information regarding our contractual and scheduled interest obligations, at December 31, 2008, is set forth in the following table.
 
                                 
    Transportation
    Drilling Rig
    Operating
    Purchase
 
    Contracts(1)     Contracts(2)     Leases(3)     Obligations(4)  
          (In thousands)        
 
2009
  $ 8,768     $ 45,620     $ 3,612     $ 13,800  
2010
    21,087       19,689       2,122       -  
2011
    33,406       6,241       1,263       -  
2012
    45,747       -       478       -  
2013
    47,473       -       9       -  
Thereafter
    242,535       -       -       -  
                                 
Total
  $   399,016     $   71,550     $     7,484     $   13,800  
                                 
 
 
(1) Under contracts with various pipeline companies, the Company is obligated to transport minimum daily gas volumes, as calculated on a monthly basis, or pay for any deficiencies at a specified reservation fee rate. The production committed to the pipelines is expected to meet, or exceed, the daily volumes required under the contracts.
 
(2) The Company leases drilling rigs from third parties for use in our development and exploration programs. The outstanding drilling rig contracts require payment of a specified day rate ranging from $20,000 to $23,200 for the entire lease term regardless of our utilization of the drilling rigs.
 
(3) The Company leases office buildings and other property under operating leases. Our operating lease obligations include $0.6 million of future lease payments to a company that is owned by members of the Darden family. Rent expense for operating leases with terms exceeding one month was $5.0 million in 2008, $5.2 million in 2007 and $3.5 million in 2006.
 
(4) At December 31, 2008, KGS was under contract to purchase goods and services for completion of the Corvette Plant and for compressors. Total remaining cash obligations for these goods and services were $13.8 million, including $1.2 million recognized during 2008. KGS placed the Corvette Plant into service during the first quarter of 2009.
 
Contractual Obligations.
 
Information regarding our contractual and scheduled interest obligations, at December 31, 2008, is set forth in the following table.
 
                                 
    Transportation
    Drilling Rig
    Operating
    Purchase
 
    Contracts(1)     Contracts(2)     Leases(3)     Obligations(4)  
          (In thousands)        
 
2009
  $ 8,768     $ 45,620     $ 3,612     $ 13,800  
2010
    21,087       19,689       2,122       -  
2011
    33,406       6,241       1,263       -  
2012
    45,747       -       478       -  
2013
    47,473       -       9       -  
Thereafter
    242,535       -       -       -  
                                 
Total
  $   399,016     $   71,550     $     7,484     $   13,800  
                                 
 
 
(1) Under contracts with various pipeline companies, the Company is obligated to transport minimum daily gas volumes, as calculated on a monthly basis, or pay for any deficiencies at a specified reservation fee rate. The production committed to the pipelines is expected to meet, or exceed, the daily volumes required under the contracts.
 
(2) The Company leases drilling rigs from third parties for use in our development and exploration programs. The outstanding drilling rig contracts require payment of a specified day rate ranging from $20,000 to $23,200 for the entire lease term regardless of our utilization of the drilling rigs.
 
(3) The Company leases office buildings and other property under operating leases. Our operating lease obligations include $0.6 million of future lease payments to a company that is owned by members of the Darden family. Rent expense for operating leases with terms exceeding one month was $5.0 million in 2008, $5.2 million in 2007 and $3.5 million in 2006.
 
(4) At December 31, 2008, KGS was under contract to purchase goods and services for completion of the Corvette Plant and for compressors. Total remaining cash obligations for these goods and services were $13.8 million, including $1.2 million recognized during 2008. KGS placed the Corvette Plant into service during the first quarter of 2009.
 
Contractual
Obligations.



 



Information regarding our contractual and scheduled interest
obligations, at December 31, 2008, is set forth in the
following table.


 
















































































































































































































































                                 

 

 

Transportation



 

 

Drilling Rig



 

 

Operating



 

 

Purchase



 

 

 

Contracts(1)


 

 

Contracts(2)


 

 

Leases(3)


 

 

Obligations(4)


 

 

 

 

 

 

(In thousands)

 

 

 

 
 


2009


 

$

8,768

 

 

$

45,620

 

 

$

3,612

 

 

$

13,800

 


2010


 

 

21,087

 

 

 

19,689

 

 

 

2,122

 

 

 

-

 


2011


 

 

33,406

 

 

 

6,241

 

 

 

1,263

 

 

 

-

 


2012


 

 

45,747

 

 

 

-

 

 

 

478

 

 

 

-

 


2013


 

 

47,473

 

 

 

-

 

 

 

9

 

 

 

-

 


Thereafter


 

 

242,535

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Total


 

$

  399,016

 

 

$

  71,550

 

 

$

    7,484

 

 

$

  13,800

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 






 


 
















































(1)

Under contracts with various pipeline companies, the Company is
obligated to transport minimum daily gas volumes, as calculated
on a monthly basis, or pay for any deficiencies at a specified
reservation fee rate. The production committed to the pipelines
is expected to meet, or exceed, the daily volumes required under
the contracts.
 

(2)

The Company leases drilling rigs from third parties for use in
our development and exploration programs. The outstanding
drilling rig contracts require payment of a specified day rate
ranging from $20,000 to $23,200 for the entire lease term
regardless of our utilization of the drilling rigs.
 

(3)

The Company leases office buildings and other property under
operating leases. Our operating lease obligations include
$0.6 million of future lease payments to a company that is
owned by members of the Darden family. Rent expense for
operating leases with terms exceeding one month was
$5.0 million in 2008, $5.2 million in 2007 and
$3.5 million in 2006.
 

(4)

At December 31, 2008, KGS was under contract to purchase
goods and services for completion of the Corvette Plant and for
compressors. Total remaining cash obligations for these goods
and services were $13.8 million, including
$1.2 million recognized during 2008. KGS placed the
Corvette Plant into service during the first quarter of 2009.


 




Contractual
Obligations.



 



Information regarding our contractual and scheduled interest
obligations, at December 31, 2008, is set forth in the
following table.


 
















































































































































































































































                                 

 

 

Transportation



 

 

Drilling Rig



 

 

Operating



 

 

Purchase



 

 

 

Contracts(1)


 

 

Contracts(2)


 

 

Leases(3)


 

 

Obligations(4)


 

 

 

 

 

 

(In thousands)

 

 

 

 
 


2009


 

$

8,768

 

 

$

45,620

 

 

$

3,612

 

 

$

13,800

 


2010


 

 

21,087

 

 

 

19,689

 

 

 

2,122

 

 

 

-

 


2011


 

 

33,406

 

 

 

6,241

 

 

 

1,263

 

 

 

-

 


2012


 

 

45,747

 

 

 

-

 

 

 

478

 

 

 

-

 


2013


 

 

47,473

 

 

 

-

 

 

 

9

 

 

 

-

 


Thereafter


 

 

242,535

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Total


 

$

  399,016

 

 

$

  71,550

 

 

$

    7,484

 

 

$

  13,800

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 






 


 
















































(1)

Under contracts with various pipeline companies, the Company is
obligated to transport minimum daily gas volumes, as calculated
on a monthly basis, or pay for any deficiencies at a specified
reservation fee rate. The production committed to the pipelines
is expected to meet, or exceed, the daily volumes required under
the contracts.
 

(2)

The Company leases drilling rigs from third parties for use in
our development and exploration programs. The outstanding
drilling rig contracts require payment of a specified day rate
ranging from $20,000 to $23,200 for the entire lease term
regardless of our utilization of the drilling rigs.
 

(3)

The Company leases office buildings and other property under
operating leases. Our operating lease obligations include
$0.6 million of future lease payments to a company that is
owned by members of the Darden family. Rent expense for
operating leases with terms exceeding one month was
$5.0 million in 2008, $5.2 million in 2007 and
$3.5 million in 2006.
 

(4)

At December 31, 2008, KGS was under contract to purchase
goods and services for completion of the Corvette Plant and for
compressors. Total remaining cash obligations for these goods
and services were $13.8 million, including
$1.2 million recognized during 2008. KGS placed the
Corvette Plant into service during the first quarter of 2009.


 




Contractual
Obligations.



 



Information regarding our contractual and scheduled interest
obligations, at December 31, 2008, is set forth in the
following table.


 
















































































































































































































































                                 

 

 

Transportation



 

 

Drilling Rig



 

 

Operating



 

 

Purchase



 

 

 

Contracts(1)


 

 

Contracts(2)


 

 

Leases(3)


 

 

Obligations(4)


 

 

 

 

 

 

(In thousands)

 

 

 

 
 


2009


 

$

8,768

 

 

$

45,620

 

 

$

3,612

 

 

$

13,800

 


2010


 

 

21,087

 

 

 

19,689

 

 

 

2,122

 

 

 

-

 


2011


 

 

33,406

 

 

 

6,241

 

 

 

1,263

 

 

 

-

 


2012


 

 

45,747

 

 

 

-

 

 

 

478

 

 

 

-

 


2013


 

 

47,473

 

 

 

-

 

 

 

9

 

 

 

-

 


Thereafter


 

 

242,535

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Total


 

$

  399,016

 

 

$

  71,550

 

 

$

    7,484

 

 

$

  13,800

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 






 


 
















































(1)

Under contracts with various pipeline companies, the Company is
obligated to transport minimum daily gas volumes, as calculated
on a monthly basis, or pay for any deficiencies at a specified
reservation fee rate. The production committed to the pipelines
is expected to meet, or exceed, the daily volumes required under
the contracts.
 

(2)

The Company leases drilling rigs from third parties for use in
our development and exploration programs. The outstanding
drilling rig contracts require payment of a specified day rate
ranging from $20,000 to $23,200 for the entire lease term
regardless of our utilization of the drilling rigs.
 

(3)

The Company leases office buildings and other property under
operating leases. Our operating lease obligations include
$0.6 million of future lease payments to a company that is
owned by members of the Darden family. Rent expense for
operating leases with terms exceeding one month was
$5.0 million in 2008, $5.2 million in 2007 and
$3.5 million in 2006.
 

(4)

At December 31, 2008, KGS was under contract to purchase
goods and services for completion of the Corvette Plant and for
compressors. Total remaining cash obligations for these goods
and services were $13.8 million, including
$1.2 million recognized during 2008. KGS placed the
Corvette Plant into service during the first quarter of 2009.


 




EXCERPTS ON THIS PAGE:

10-K (6 sections)
Mar 3, 2009
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