Page
|
||
ARTICLE
I DEFINITIONS AND ACCOUNTING MATTERS
|
1
|
|
Section
1.01
|
Terms
Defined Above
|
1
|
Section
1.02
|
Certain
Defined Terms
|
2
|
Section
1.03
|
Types
of Loans and Borrowings
|
21
|
Section
1.04
|
Terms
Generally
|
21
|
Section
1.05
|
Accounting
Terms and Determinations; GAAP
|
22
|
ARTICLE
II THE CREDITS
|
22
|
|
Section
2.01
|
Commitments
|
22
|
Section
2.02
|
Loans
and Borrowings
|
22
|
Section
2.03
|
Requests
for Borrowings
|
23
|
Section
2.04
|
Interest
Elections
|
24
|
Section
2.05
|
Funding
of Borrowings
|
26
|
Section
2.06
|
Termination,
Reduction and Increase of Aggregate Commitment
|
26
|
Section
2.07
|
Borrowing
Base
|
28
|
Section
2.08
|
Letters
of Credit
|
31
|
Section
2.09
|
Swingline
Loans
|
36
|
ARTICLE
III PAYMENTS OF PRINCIPAL AND INTEREST; PREPAYMENTS;
FEES
|
37
|
|
Section
3.01
|
Repayment
of Loans
|
37
|
Section
3.02
|
Interest
|
37
|
Section
3.03
|
Alternate
Rate of Interest
|
38
|
Section
3.04
|
Prepayments.
|
39
|
Section
3.05
|
Fees
|
41
|
ARTICLE
IV PAYMENTS; PRO RATA TREATMENT; SHARING OF
SET-OFFS.
|
42
|
|
Section
4.01
|
Payments
Generally; Pro Rata Treatment; Sharing of Set-offs
|
42
|
Section
4.02
|
Presumption
of Payment by the Borrower
|
43
|
Section
4.03
|
Certain
Deductions by the Administrative Agent
|
43
|
Section
4.04
|
Disposition
of Proceeds
|
43
|
ARTICLE
V INCREASED COSTS; BREAK FUNDING PAYMENTS; TAXES;
ILLEGALITY
|
44
|
|
Section
5.01
|
Increased
Costs
|
44
|
Section
5.02
|
Break
Funding Payments
|
45
|
Section
5.03
|
Taxes
|
45
|
Section
5.04
|
Designation
of Different Lending Office
|
46
|
Section
5.05
|
Illegality
|
47
|
Section
5.06
|
Replacement
of Lenders
|
47
|
ARTICLE VI CONDITIONS PRECEDENT | 48 |
Section
6.01
|
Effective
Date
|
48
|
Section
6.02
|
Each
Credit Event
|
50
|
ARTICLE
VII REPRESENTATIONS AND WARRANTIES
|
51
|
|
Section
7.01
|
Organization;
Powers
|
51
|
Section
7.02
|
Authority;
Enforceability
|
51
|
Section
7.03
|
Approvals;
No Conflicts
|
51
|
Section
7.04
|
Financial
Condition; No Material Adverse Change
|
52
|
Section
7.05
|
Litigation
|
52
|
Section
7.06
|
Environmental
Matters
|
52
|
Section
7.07
|
Compliance
with the Laws and Agreements; No Defaults
|
53
|
Section
7.08
|
Investment
Company Act
|
54
|
Section
7.09
|
Public
Utility Holding Company Act
|
54
|
Section
7.10
|
Taxes
|
54
|
Section
7.11
|
ERISA
|
54
|
Section
7.12
|
Disclosure;
No Material Misstatements
|
55
|
Section
7.13
|
Insurance
|
56
|
Section
7.14
|
Restriction
on Liens
|
56
|
Section
7.15
|
Subsidiaries
|
56
|
Section
7.16
|
Location
of Business and Offices
|
56
|
Section
7.17
|
Properties;
Titles, Etc
|
57
|
Section
7.18
|
Maintenance
of Properties
|
58
|
Section
7.19
|
Gas
Imbalances, Prepayments
|
58
|
Section
7.20
|
Marketing
of Production
|
58
|
Section
7.21
|
Swap
Agreements
|
58
|
Section
7.22
|
Use
of Loans and Letters of Credit
|
59
|
Section
7.23
|
Solvency
|
59
|
Section
7.24
|
Material
Agreements
|
59
|
ARTICLE
VIII AFFIRMATIVE COVENANTS
|
59
|
|
Section
8.01
|
Financial
Statements; Ratings Change; Other Information
|
60
|
Section
8.02
|
Notices
of Material Events
|
62
|
Section
8.03
|
Existence;
Conduct of Business
|
62
|
Section
8.04
|
Payment
of Obligations
|
63
|
Section
8.05
|
Performance
of Obligations under Loan Documents
|
63
|
Section
8.06
|
Operation
and Maintenance of Properties
|
63
|
Section
8.07
|
Insurance
|
64
|
Section
8.08
|
Books
and Records; Inspection Rights
|
64
|
Section
8.09
|
Compliance
with Laws
|
64
|
Section
8.10
|
Environmental
Matters
|
64
|
Section
8.11
|
Further
Assurances
|
65
|
Section
8.12
|
Reserve
Reports
|
66
|
Section
8.13
|
Title
Information
|
67
|
Section
8.14
|
Additional
Collateral; Additional Guarantors
|
67
|
Section
8.15
|
ERISA
Compliance
|
68
|
Section
8.16
|
Performance
of Material Agreements
|
69
|
ARTICLE IX NEGATIVE COVENANTS |
69
|
|
Section
9.01
|
Financial
Covenants
|
69
|
Section
9.02
|
Debt
|
69
|
Section
9.03
|
Liens
|
71
|
Section
9.04
|
Dividends,
Distributions and Redemptions
|
71
|
Section
9.05
|
Investments,
Loans and Advances
|
72
|
Section
9.06
|
Designation
of Material Subsidiaries
|
73
|
Section
9.07
|
Nature
of Business; International Operations
|
73
|
Section
9.08
|
Proceeds
of Notes
|
73
|
Section
9.09
|
ERISA
Compliance
|
74
|
Section
9.10
|
Sale
or Discount of Receivables
|
75
|
Section
9.11
|
Mergers,
Etc
|
75
|
Section
9.12
|
Sale
of Properties
|
75
|
Section
9.13
|
Environmental
Matters
|
76
|
Section
9.14
|
Transactions
with Affiliates
|
76
|
Section
9.15
|
Subsidiaries
|
76
|
Section
9.16
|
Negative
Pledge Agreements; Dividend Restrictions
|
76
|
Section
9.17
|
Gas
Imbalances, Take-or-Pay or Other Prepayments
|
76
|
Section
9.18
|
Swap
Agreements
|
77
|
Section
9.19
|
Preservation
of Material Agreements
|
77
|
Section
9.20
|
Release
of Liens
|
77
|
ARTICLE
X EVENTS OF DEFAULT; REMEDIES
|
78
|
|
Section
10.01
|
Events
of Default
|
78
|
Section
10.02
|
Remedies
|
80
|
ARTICLE
XI THE ADMINISTRATIVE AGENT
|
80
|
|
Section
11.01
|
Appointment;
Powers
|
80
|
Section
11.02
|
Duties
and Obligations of Administrative Agent
|
81
|
Section
11.03
|
Action
by Administrative Agent
|
81
|
Section
11.04
|
Reliance
by Administrative Agent
|
82
|
Section
11.05
|
Subagents
|
82
|
Section
11.06
|
Resignation
or Removal of Administrative Agent
|
82
|
Section
11.07
|
Administrative
Agent as Lenders
|
83
|
Section
11.08
|
No
Reliance
|
83
|
Section
11.09
|
Authority
of Administrative Agent to Release Collateral and Liens
|
84
|
Section
11.10
|
Syndication
Agent and Co-Documentation Agents
|
84
|
Section
11.11
|
Administrative
Agent May File Proofs of Claim
|
84
|
ARTICLE
XII MISCELLANEOUS
|
85
|
|
Section
12.01
|
Notices
|
85
|
Section
12.02
|
Waivers;
Amendments
|
86
|
Section
12.03
|
Expenses,
Indemnity; Damage Waiver.
|
87
|
Section
12.04
|
Successors
and Assigns
|
90
|
Section
12.05
|
Survival;
Revival; Reinstatement
|
93
|
Section
12.06
|
Counterparts;
Integration; Effectiveness
|
93
|
Section
12.07
|
Severability
|
94
|
Section
12.08
|
Right
of Setoff
|
94
|
Section
12.09
|
GOVERNING
LAW; JURISDICTION; CONSENT TO SERVICE OF PROCESS
|
94
|
Section
12.10
|
Headings
|
96
|
Section
12.11
|
Confidentiality
|
96
|
Section
12.12
|
Interest
Rate Limitation
|
97
|
Section
12.13
|
EXCULPATION
PROVISIONS
|
98
|
Section
12.14
|
Existing
Credit Agreement
|
98
|
Section
12.15
|
Collateral
Matters; Swap Agreements
|
99
|
Section
12.16
|
No
Third Party Beneficiaries
|
100
|
Section
12.17
|
USA
Patriot Act Notice
|
100
|
Borrowing
Base Utilization Grid
|
||||
Borrowing
Base Utilization Percentage
|
<25%
|
³25%
<50%
|
³50%
<75%
|
³75%
|
Eurodollar
Loans
|
2.000%
|
2.250%
|
2.500%
|
2.750%
|
ABR
Loans or Swingline Loans
|
1.000%
|
1.250%
|
1.500%
|
1.750%
|
Commitment
Fee Rate
|
0.500%
|
0.500%
|
0.500%
|
0.500%
|
BORROWER:
|
ST.
MARY LAND & EXPLORATION COMPANY
|
Name
of Lender
|
Applicable
Percentage
|
Commitment
|
Bank
of America, N.A.
|
13.27434% |
$90,000,000
|
Comerica
Bank
|
11.06195% |
$75,000,000
|
Compass
Bank
|
11.06195% |
$75,000,000
|
JPMorgan
Chase Bank, N.A.
|
11.06195% |
$75,000,000
|
U.S.
Bank National Association
|
9.58702% |
$65,000,000
|
Wachovia
Bank, National Association
|
8.14897% |
$55,250,000
|
Wells
Fargo Bank, N.A.
|
8.14897% |
$55,250,000
|
Bank
of Scotland plc
|
6.45280% |
$43,750,000
|
Royal
Bank of Canada
|
6.45280% |
$43,750,000
|
Key
Bank National Association
|
5.89971% |
$40,000,000
|
Bank
of Oklahoma, N.A.
|
3.68732% |
$25,000,000
|
Capital
One, National Association
|
3.68732% |
$25,000,000
|
Barclays
Bank PLC
|
1.47493% |
$10,000,000
|
TOTAL
|
100.00% |
$678,000,000
|
1.
|
LC#
SM234314W, issued in the amount of $1,280,000, in favor of Hund, Krier,
Wilkerson & Wright, P.C., with an expiry date of
3/24/10
|
|
ST.
MARY LAND & EXPLORATION COMPANY
|
1.
|
Reaffirmation
Agreement dated as of April 10, 2008, by the Borrower in favor of the
Administrative Agent.
|
2.
|
Reaffirmation
Agreement dated as of even date herewith, by the Borrower in favor of the
Administrative Agent.
|
3.
|
First
Supplement and Amendment to Deed of Trust, Mortgage, Line of Credit
Mortgage, Assignment, Security Agreement, Fixture Filing and Financing
Statement dated effective as of January 27, 2003, from St. Mary Land &
Exploration Company, et al.
|
Jurisdiction
|
File
No.
|
Book/Page
|
Date
Filed
|
Cameron
Parish, LA
|
279314
|
MB275
|
01-31-03
|
Claiborne
Parish, LA
|
406861
|
445/39
|
02-03-03
|
Iberia
Parish, LA
|
03-1414
|
MB-A928
|
02-03-03
|
Lincoln
Parish, LA
|
F44323
|
MB804/490
|
02-04-03
|
Pointe
Coupee Parish, LA
|
MB324/No.
005
|
02-03-03
|
|
St.
Mary Parish, LA
|
255274
|
MB939/427
|
01-31-03
|
Union
Parish, LA
|
2003-00312605
|
548/15
|
01-31-03
|
Vermilion
Parish, LA
|
20301199
|
01-31-03
|
|
Richland
County, MT
|
516267
|
B178/584-624
|
01-31-03
|
Roosevelt
County, MT
|
361851
|
604/142
|
02-03-03
|
Sheridan
County, MT
|
459000
|
604/1307
|
01-31-03
|
Eddy
County, NM
|
0301183
|
489/1185
|
01-31-03
|
Lea
County, NM
|
33257
|
1202/609
|
02-03-03
|
Billings
County, ND
|
119317
|
093/393
|
02-04-03
|
Bottineau
County, ND
|
359181
|
295/83
|
02-04-03
|
McKenzie
County, ND
|
344188
|
02-04-03
|
|
Williams
County, ND
|
604707
|
02-05-03
|
|
Beaver
County, OK
|
1-2003-000419
|
1094/492-519
|
02-04-03
|
Beckham
County, OK
|
1-2003-000917
|
1763/414
|
02-03-03
|
Caddo
County, OK
|
030894
|
2430/161
|
2-03-03
|
Canadian
County, OK
|
2003003218
|
2680/51-79
|
2-03-03
|
Coal
County, OK
|
14750
|
616/313-356
|
01-31-03
|
Jurisdiction
|
File
No.
|
Book/Page
|
Date
Filed
|
Comanche
County, OK
|
2003002051
|
3982/264-292
|
01-31-03
|
Custer
County, OK
|
1-2003-000660
|
1192/496-538
|
02-03-03
|
Grady
County, OK
|
1680
|
3456/472
|
02/03/03
|
Roger
Mills County, OK
|
1-2003-000430
|
1700/66
|
02-03-03
|
Washita
County, OK
|
526
|
955/504-870
|
02-03-03
|
Brazoria
County, TX
|
03
006331
|
01-31-03
|
|
Coke
County, TX
|
007140
|
161/288
|
02-03-03
|
Henderson
County, TX
|
0001833
|
2264/001
|
01-31-03
|
Jefferson
County, TX
|
2003003623
|
01-31-03
|
|
Limestone
County, TX
|
030551
|
1103/829
|
02-03-03
|
Nueces
County, TX
|
2003004978
|
24
|
01-31-03
|
Red
River County, TX
|
22402
|
530/734
|
01-31-03
|
Runnels
County, TX
|
215
|
217/174
|
02-04-03
|
Shelby
County, TX
|
2003-490
|
955/228
|
01-31-03
|
Ward
County, TX
|
196
|
735/430-453
|
1-31-03
|
Uintah
County Recorder, UT
|
2003000753
|
825/763/788
|
01-31-03
|
Carbon
County, WY
|
0902115
|
1032/0060
|
02-04-03
|
4.
|
Second
Supplement and Amendment to Deed of Trust, Mortgage, Line of Credit
Mortgage, Assignment, Security Agreement, Fixture Filing and Financing
Statement dated effective as of April 16, 2003, from St. Mary Land &
Exploration Company, et al.
|
Jurisdiction
|
File/Entry
No.
|
Book/Page
|
Date
Filed
|
Cameron
Parish, LA
|
280347
|
278
|
4/25/03
|
Claiborne
Parish, LA
|
407719
|
452/35
|
4-23-03
|
Pointe
Coupee Parish,
|
328/104
|
4-23-03
|
|
St.
Mary Parish, LA
|
256,817
|
949/140
|
4-23-03
|
Vermilion
Parish, LA
|
20305083
|
4-29-03
|
|
Eddy
County, NM
|
503/0917
|
5-08-03
|
|
Lea
County, NM
|
37323
|
1220/841
|
4-28-03
|
Bottineau
County, ND
|
359989
|
298/24
|
5-05-03
|
Jurisdiction
|
File/Entry
No.
|
Book/Page
|
Date
Filed
|
Beckham
County, OK
|
1-2003-004011
|
1772/286
|
4-25-03
|
Caddo
County, OK
|
033653
|
2440/481-514
|
4-29-03
|
Coal
County, OK
|
15617
|
619/74-129
|
4-28-03
|
Custer
County, OK
|
1-2003-002720
|
1202/345-373
|
5-01-03
|
Grady
County, OK
|
6012
|
3483-150
|
4-23-03
|
Roger
Mills County, OK
|
2003-001893
|
1708/217-245
|
4-25-03
|
Washita
County, OK
|
2132
|
960/895-939
|
4-25-03
|
Brazoria
County, TX
|
03024211
|
4-24-03
|
|
Shelby
County, TX
|
2003-1818
|
B-960-699-726
|
4-24-03
|
Carbon
County, WY
|
0903151
|
B-1036/P-0061
|
4-25-03
|
5.
|
Deed
of Trust, Mortgage, Line of Credit Mortgage, Assignment, Security
Agreement, Fixture Filing and Financing Statement dated effective as of
January 27, 2003, from St. Mary Land & Exploration Company, et al,
covering the Burlington Properties.
|
Jurisdiction
|
File
No.
|
Book/Page
|
Date
Filed
|
Richland
County, MT
|
516268
|
B178/625-694
|
01-31-03
|
Roosevelt
County, MT
|
361852
|
604/143
|
02-03-03
|
Rosebud
County, MT
|
0093439
|
103MG/573-628
|
02-04-03
|
Sheridan
County, MT
|
459001
|
604/1351
|
01-31-03
|
Wibaux
County, MT
|
0100404
|
31/394
|
02-03-03
|
Billings
County, ND
|
119318
|
093/419
|
02-04-03
|
Bowman
County, ND
|
158041
|
02-03-03
|
|
Burke
County, ND
|
202024
|
174/41
|
02-04-03
|
Divide
County, ND
|
224437
|
218M/224
|
02-03-03
|
Dunn
County, ND
|
3007810
|
B137/1
|
02-04-03
|
Golden
Valley County, ND
|
89737
|
02-04-03
|
|
McKenzie
County, ND
|
344189
|
02-04-03
|
|
Stark
County, ND
|
3021953
|
02-03-03
|
6.
|
UCC-1
Financing Statement naming NPC, Inc., as Debtor, and Wachovia Bank,
National Association, as Secured
Party.
|
Jurisdiction
|
File
No.
|
Book/Page
|
Date
Filed
|
Colorado
Secretary of State
|
20032011718
C
|
01-31-03
|
7.
|
First
Supplement and Amendment to Deed of Trust, Mortgage, Line of Credit
Mortgage, Assignment, Security Agreement, Fixture Filing and Financing
Statement dated effective as of April 16, 2003, from St. Mary Land &
Exploration Company, et al.
|
Jurisdiction
|
File
No.
|
Book/Page
|
Date
Filed
|
Richland
County, MT
|
518181
|
180/307-350
|
4-25-03
|
Roosevelt
County, MT
|
362400
|
604/207
|
4-25-03
|
Sheridan
County, MT
|
459308
|
605/766
|
4-24-03
|
Billings
County, ND
|
119518
|
94/115
|
4-25-03
|
Bowman
County, ND
|
158346
|
4-24-03
|
|
Divide
County, ND
|
224847
|
219M/146
|
5-27-03
|
Dunn
County, ND
|
3008107
|
138/1
of 25
|
4-29-03
|
McKenzie
County, ND
|
344998
|
5-02-03
|
|
Stark
County, ND
|
3023766
|
/1
of 23
|
4-30-03
|
8.
|
Deed
of Trust, Mortgage, Line of Credit Mortgage, Assignment, Security
Agreement, Fixture Filing and Financing Statement dated effective as of
April 16, 2003, from St. Mary Land & Exploration Company, et
al.
|
Jurisdiction
|
File
No.
|
Book/Page
|
Date
Filed
|
Bienville
Parish, LA
|
20031493
|
371/21
|
4-23-03
|
LaSalle
Parish, LA
|
188236
|
262/292,
279/452
|
4-25-03
|
Carbon
County, MT
|
306896
|
4-24-03
|
|
Glacier
County, MT
|
252494
|
69/283
|
4-24-03
|
Powder
River County, MT
|
128180
|
69/0546
|
4-24-03
|
Stillwater
County, MT
|
312063
|
4-24-03
|
|
Toole
County, MT
|
348946
|
66/741
|
4-24-03
|
Jurisdiction
|
File
No.
|
Book/Page
|
Date
Filed
|
Ward
County, ND
|
2817213
|
Pgs
1-54
|
4-25-03
|
Williams
County, ND
|
605875
|
1-56
|
4-29-03
|
Renville
County, ND
|
178019
|
171/293
|
4-25-03
|
Dewey
County, OK
|
001261
|
1191/94
|
4-24-03
|
Stephens
County, OK
|
000272
|
2820/272
|
5-07-03
|
Schleicher
County, TX
|
080705
|
434/682
|
5-05-03
|
Galveston
County, TX
|
2003025934
|
###-##-####
|
4-23-03
|
Campbell
County, WY
|
815203
|
1862/418-531
|
4-25-03
|
Converse
County, WY
|
892472
|
1219/800
|
5-08-03
|
Crook
County, WY
|
561879
|
405/536-591
|
4-25-03
|
Fremont
County, WY
|
2003-1242358
|
6-24-03
|
|
Hot
Spring County, WY
|
449338
|
100/703-757
|
4-30-03
|
Johnson
County, WY
|
013622
|
295/325-379
|
4-25-03
|
Lincoln
County, WY
|
889463
|
518/747
|
4-24-03
|
Natrona
County, WY
|
0715663
|
1-61
|
5-06-03
|
Niobrara
County, WY
|
380587
|
413/0354
|
4-24-03
|
Sweetwater
County, WY
|
1385265
|
0973/1730
|
5-02-03
|
Sublette
County, WY
|
296777
|
100/83
|
4-25-03
|
Uinta
County, WY
|
113005
|
795/417-468
|
4-24-03
|
Washakie
County, WY
|
499528
|
93/769-820
|
4-24-03
|
Weston
County, WY
|
659277
|
263/985
|
4-25-03
|
9.
|
Deed
of Trust, Mortgage, Line of Credit Mortgage, Assignment, Security
Agreement, Fixture Filing and Financing Statement dated effective as of
April 16, 2003, from St. Mary Land & Exploration Company, et
al.
|
Jurisdiction
|
File
No.
|
Book/Page
|
Date
Filed
|
Cheyenne
County, CO
|
2003-221982
|
1-51
|
4-25-03
|
Moffat
County, CO
|
2003L-1925
|
1
of 60
|
4-24-03
|
Harding
County, SD
|
03-327
|
103
O &G/79-129
|
4-29-03
|
Nye
County, NV
|
561302
|
4-24-03
|
10.
|
Deed
of Trust, Mortgage, Line of Credit Mortgage, Assignment, Security
Agreement, Fixture Filing and Financing Statement dated effective as of
May 4, 2004, from St. Mary Land & Exploration Company, et
al.
|
Jurisdiction
|
File/Entry
No.
|
Book/Page
|
Date
Filed
|
Sheridan
County, MT
|
460961
|
608/800
|
5-17-04
|
McKenzie
County, ND
|
348516
|
5-14-04
|
|
Beckham
County, OK
|
I-2004-004556
|
1811/653
|
5-14-04
|
Shelby
County, TX
|
2004-2675
|
B-989/P-1
|
5-13-04
|
11.
|
Deed
of Trust, Mortgage, Line of Credit Mortgage Assignment, Security
Agreement, Fixture Filing and Financing Statement dated effective as of
April 7, 2005 from St. Mary Land & Exploration Company to Wachovia
Bank, National Association, as Administrative
Agent.
|
Jurisdiction
|
File/Entry
No.
|
Book/Page
|
Date
Filed
|
Bossier
Parish, LA
|
831932
|
1472
|
04-18-05
|
Caddo
Parish, LA
|
1970675
|
04-19-05
|
|
Desoto
Parish, LA
|
616921
|
319/1
|
04-14-05
|
Morehouse
Parish, LA
|
193172
|
582/183
|
04-18-05
|
Natchitoches
Parish, LA
|
M280911
228839
|
768/261
590/547
|
04-15-05
|
Webster
Parish, LA
|
477794
|
602/772
|
04-15-05
|
Richland
County, MT
|
529711
|
192/318-371
|
04-18-05
|
McKenzie
County, ND
|
356243
|
04-25-05
|
|
Mountrail
County, ND
|
315745
|
717/505
|
4-14-05
|
Alfalfa
County, OK
|
031160
|
581/734-782
|
04-15-05
|
Beckham
County, OK
|
I-2005-003117
|
1843/675-747
|
04-15-05
|
Blaine
County, OK
|
1640
|
913/470-517
|
04-14-05
|
Carter
County, OK
|
2005-004091
|
4285/68-141
|
04-14-05
|
Coal
County, OK
|
027249
|
652/494-558
|
04-22-05
|
Ellis
County, OK
|
I-A-009471
|
706/347-394
|
04-18-05
|
Jurisdiction
|
File/Entry
No.
|
Book/Page
|
Date
Filed
|
Garfield
County, OK
|
4125
|
1752/927
|
04-15-05
|
Grady
County, OK
|
I-2005-005326
|
3720/91-141
|
04-15-05
|
Grant
County, OK
|
608
|
562/192
|
04-14-05
|
Haskell
County, OK
|
301537
|
681/101-157
|
04-14-05
|
Hughes
County, OK
|
003075
|
1027/1-49
|
04-14-05
|
Latimer
County, OK
|
I-2005-035223
|
653/178-228
|
04-14-05
|
LeFlore
County, OK
|
3842
|
1552/446-491
|
04-14-05
|
Logan
County, OK
|
3536
|
1851/45-92
|
04-14-05
|
Murray
County, OK
|
I-2005-001180
|
767/1-48
|
04-14-05
|
Pittsburg
County, OK
|
133088
|
1372/379-475
|
04-19-05
|
Roger
Mills, OK
|
I-2005-003179
|
1789/349
|
5-12-05
|
Seminole
County, OK
|
2563
|
2697/200-247
|
04-14-05
|
Washita
County, OK
|
I-2005-002861
|
1009/597-644
|
04-15-05
|
Cass
County, TX
|
37589
|
04-14-05
|
|
Gregg
County, TX
|
200507947
|
04-14-05
|
|
Houston
County, TX
|
051641
|
04-14-05
|
|
Marion
County, TX
|
1250
|
697/334-381
|
04-14-05
|
Panola
County, TX
|
100387
|
1262/467-514
|
04-14-05
|
Rusk
County, TX
|
10774
|
254B/432-480
|
04-14-05
|
Smith
County, TX
|
2005-R0017684
|
7765/818-866
|
04-14-05
|
Sutton
County, TX
|
051971
|
337/352-399
|
04-14-05
|
Wheeler
County, TX
|
15347
|
535/583-630
|
04-19-05
|
Albany
County, WY
|
2005-2399
|
04-14-05
|
|
Park
County, WY
|
2005-2693
|
04-18-05
|
12.
|
Supplement
and Amendment to Deed of Trust, Mortgage, Line of Credit Mortgage,
Assignment, Security Agreement, Fixture Filing and Financing Statement
dated effective as of April 7, 2005, from St. Mary Land & Exploration
Company, et al.
|
Jurisdiction
|
File/Entry
No.
|
Book/Page
|
Date
Filed
|
Bienville
Parish, LA
|
20051586
|
4-14-05
|
Jurisdiction
|
File/Entry
No.
|
Book/Page
|
Date
Filed
|
Claiborne
Parish, LA
|
415336
|
502/128
|
4-14-05
|
Lincoln
Parish, LA
|
063713
|
875/179
|
4-15-05
|
Union
Parish, LA
|
2005-00326133
|
597/91
|
4-18-05
|
Billings
County, ND
|
124015
|
6-27-05
|
|
Bottineau
County, ND
|
365951
|
4-25-05
|
|
Bowman
County, ND
|
161240
|
4-26-05
|
|
Burke
County, ND
|
206034
|
178/309
|
4-25-05
|
Divide
County, ND
|
230283
|
232M/638
|
5-6-05
|
Dunn
County, ND
|
3013067
|
B-147/P-43
|
6-24-05
|
Golden
Valley County, ND
|
92123
|
4-25-05
|
|
Stark
County, ND
|
3037098
|
4-25-05
|
|
Williams
County, ND
|
623256
|
4-19-05
|
|
Canadian
County, OK
|
20058762
|
3049/641-665
|
4-18-05
|
Sweetwater
County, WY
|
1439819
|
1025/559-78
|
4-19-05
|
13.
|
Deed
of Trust, Mortgage, Line of Credit Mortgage Assignment, Security
Agreement, Fixture Filing and Financing Statement dated effective as of
February 20, 2007, from St. Mary Land & Exploration Company, et
al.
|
Jurisdiction
|
File
No.
|
Book/Page
|
Date
Filed
|
Upton
County, TX
|
00140457
|
782/61-120
|
2-26-07
|
Midland
County, TX
|
4234
|
OR/02818/71
|
2-23-07
|
14.
|
Deed
of Trust, Mortgage, Line of Credit Mortgage Assignment, Security
Agreement, Fixture Filing and Financing Statement dated effective as of
February 1, 2008, from St. Mary Land & Exploration
Company
|
Jurisdiction
|
File
No.
|
Book/Page
|
Date
Filed
|
Dimmit
County, TX
|
9830
|
345/665
|
4/23/08
|
Webb
County, TX
|
995989
|
2540/142
|
3/4/08
|
15.
|
UCC
Financing Statement with St. Mary Land & Exploration Company as debtor
and Wachovia Bank, National Association, as Administrative Agent, as
secured party, with respect to item 15
above
|
Jurisdiction
|
File
No.
|
Book/Page
|
Date
Filed
|
Secretary
of State of Delaware
|
2008
0765394
|
3/3/08
|
16.
|
Supplement
and Amendment to Deed of Trust, Mortgage, Line of Credit Mortgage,
Assignment, Security Agreement, Fixture Filing and Financing Statement
dated effective as of April 14, 2009, from St. Mary Land & Exploration
Company
|
Jurisdiction
|
File
No.
|
Book/Page
|
Date
Filed
|
Cheyenne
County, CO
|
|||
Moffat
County, CO
|
|||
Bienville
Parish, LA
|
|||
Bossier
Parish, LA
|
|||
Caddo
Parish, LA
|
|||
Cameron
Parish, LA
|
|||
Claiborne
Parish, LA
|
|||
Desoto
Parish, LA
|
|||
Iberia
Parish, LA
|
|||
LaSalle
Parish, LA
|
|||
Lincoln
Parish, LA
|
|||
Morehouse
Parish, LA
|
|||
Natchitoches
Parish, LA
|
|||
Pointe
Coupee Parish, LA
|
|||
St.
Mary Parish, LA
|
|||
Union
Parish, LA
|
|||
Vermilion
Parish, LA
|
|||
Webster
Parish, LA
|
|||
Carbon
County, MT
|
|||
Glacier
County, MT
|
|||
Powder
River County, MT
|
Richland
County, MT
|
|||
Roosevelt
County, MT
|
|||
Rosebud
County, MT
|
|||
Sheridan
County, MT
|
|||
Stillwater
County, MT
|
|||
Toole
County, MT
|
|||
Wibaux
County, MT
|
|||
Eddy
County, NM
|
|||
Lea
County, NM
|
|||
Billings
County, ND
|
|||
Bottineau
County, ND
|
|||
Bowman
County, ND
|
|||
Burke
County, ND
|
|||
Divide
County, ND
|
|||
Dunn
County, ND
|
|||
Golden
Valley County, ND
|
|||
McKenzie
County, ND
|
|||
Mountrail
County, ND
|
|||
Renville
County, ND
|
|||
Stark
County, ND
|
|||
Ward
County, ND
|
|||
Williams
County, ND
|
|||
Nye
County, NV
|
|||
Alfalfa
County, OK
|
|||
Beaver
County, OK
|
|||
Beckham
County, OK
|
|||
Blaine
County, OK
|
|||
Caddo
County, OK
|
|||
Canadian
County, OK
|
|||
Carter
County, OK
|
|||
Coal
County, OK
|
Comanche
County, Ok
|
|||
Custer
County, OK
|
|||
Dewey
County, OK
|
|||
Ellis
County, OK
|
|||
Garfield
County, OK
|
|||
Grady
County, OK
|
|||
Grant
County, OK
|
|||
Haskell
County, OK
|
|||
Hughes
County, OK
|
|||
Latimer
County, OK
|
|||
LeFlore
County, OK
|
|||
Logan
County, OK
|
|||
Murray
County, OK
|
|||
Pittsburg
County, OK
|
|||
Roger
Mills County, OK
|
|||
Seminole
County, OK
|
|||
Stephens
County, OK
|
|||
Washita
County, OK
|
|||
Harding
County, SD
|
|||
Brazoria
County, TX
|
|||
Cass
County, TX
|
|||
Coke
County, TX
|
|||
Dimmit
County, TX
|
|||
Galveston
County, TX
|
|||
Gregg
County, TX
|
|||
Henderson
County, TX
|
|||
Houston
County, TX
|
|||
Jefferson
County, TX
|
|||
Limestone
County, TX
|
|||
Marion
County, TX
|
|||
Midland
County, TX
|
Nueces
County, TX
|
|||
Panola
County, TX
|
|||
Red
River County, TX
|
|||
Runnels
County, TX
|
|||
Rusk
County, TX
|
|||
Schleicher
County, TX
|
|||
Shelby
County, TX
|
|||
Smith
County, TX
|
|||
Sutton
County, TX
|
|||
Upton
County, TX
|
|||
Ward
County, TX
|
|||
Webb
County, TX
|
|||
Wheeler
County, TX
|
|||
Uintah
County, UT
|
|||
Albany
County, WY
|
|||
Campbell
County, WY
|
|||
Carbon
County, WY
|
|||
Converse
County, WY
|
|||
Crook
County, WY
|
|||
Fremont
County, WY
|
|||
Hot
Springs County, WY
|
|||
Johnson
County, WY
|
|||
Lincoln
County, WY
|
|||
Natrona
County, WY
|
|||
Niobrara
County, WY
|
|||
Park
County, WY
|
|||
Sweetwater
County, WY
|
|||
Sublette
County, WY
|
|||
Uinta
County, WY
|
|||
Washakie
County, WY
|
|||
Weston
County, WY
|
17.
|
UCC
Financing Statement with St. Mary Land & Exploration Company as debtor
and Wachovia Bank, National Association, as Administrative Agent, as
secured party, with respect to item 16
above
|
Jurisdiction
|
File
No.
|
Book/Page
|
Date
Filed
|
Secretary
of State of Delaware
|
Facility
|
Principal
Amount Assigned
|
Percentage
Assigned of Facility/Commitment (set forth, to at least 8 decimals, as a
percentage of the Facility and the aggregate Commitments of all Lenders
thereunder)
|
Commitment
Assigned:
|
$
|
%
|
Loans:
|
||
St.
Mary Land & Exploration Company
|
Wachovia
Bank, National Association, as Administrative
Agent,
|
|
ST.
MARY LAND & EXPLORATION COMPANY
|
Material Subsidiaries
|
Jurisdiction of
Organization
|
Organizational Identification
Number
|
Principal Place of Business
and Chief Executive Office
|
Owner
|
Percentage Owned
|
None.
|
|||||
Non-Material Subsidiaries
|
|||||
Belring
GP LLC
|
Delaware
|
Borrower
|
100%
|
||
Box
Church Gas Gathering LLC
|
Colorado
|
Borrower
|
58.6754%
|
||
Energy
Leasing, Inc.
|
Oklahoma
|
Borrower
|
100%
|
||
Four
Winds Marketing LLC
|
Colorado
|
Borrower
|
100%
|
||
Hilltop
Investments
|
Colorado
|
Borrower
|
50%
|
||
SMT
Texas LLC
|
Colorado
|
Borrower
|
100%
|
||
St.
Mary Land & Exploration Acquisition, LLC
|
Delaware
|
Borrower
|
100%
|
||
St.
Mary Energy Louisiana LLC
|
Delaware
|
Borrower
|
100%
|
||
St.
Mary Land East Texas L.P.
|
Texas
|
SMT
Texas LLC
Borrower
|
99%
1%
|
||
Sycamore
Gas System
|
Oklahoma
|
Borrower
|
3.11%
|
||
Trinity
River Services LTD
|
Texas
|
Borrower
|
21%
|
||
Parish
Ventures
|
Colorado
|
Borrower
|
50%
|
St.
Mary Land & Exploration Company
|
|||||||||
Hedges
"In-Place"
|
|||||||||
As
of March 30, 2009
|
|||||||||
CounterParty
|
Contract
Date
|
Contract #
|
Price Index
|
Area
|
Contract
Start
|
Contract
End
|
Monthly
Volumes
|
Remaining
Yearly
Volumes
|
%
of
Hedges
|
Fixed
Price
|
Estimated
Market
Price
|
MtM
Value
at 3/30/09
|
|||
GAS
SWAPS
|
|||||||||||||||
BNP
Paribas
|
02/29/08
|
172761
|
IF
CIG
|
Rockies
|
01/01/09
|
12/31/09
|
50,000
|
450,000
|
$7.03
|
$2.87
|
1,873,700
|
||||
BNP
Paribas
|
05/05/08
|
180277
|
IF
HSC
|
Arklatex
|
06/01/08
|
02/28/11
|
43,333
|
390,000
|
$9.96
|
$3.95
|
2,342,816
|
||||
93,333
|
840,000
|
5.30%
|
|||||||||||||
Comerica
|
07/30/07
|
ESWP253
|
IF
HSC
|
Gulf
Coast
|
01/01/09
|
12/31/09
|
100,000
|
900,000
|
$8.19
|
$3.97
|
3,800,902
|
||||
100,000
|
900,000
|
5.67%
|
|||||||||||||
J
Aron & Co
|
07/30/07
|
737564622
|
IF
HSC
|
Gulf
Coast
|
01/01/09
|
12/31/09
|
110,000
|
990,000
|
$8.25
|
$3.97
|
4,235,760
|
||||
J
Aron & Co
|
05/19/06
|
886126894
|
IF
PEPL
|
MidCon
|
01/01/09
|
06/30/09
|
140,000
|
420,000
|
$6.98
|
$2.67
|
1,809,467
|
||||
J
Aron & Co
|
06/15/06
|
886819898
|
IF
CIG
|
Rockies
|
01/01/09
|
06/30/09
|
110,000
|
330,000
|
$6.28
|
$2.39
|
1,285,034
|
||||
J
Aron & Co
|
12/22/06
|
892369629
|
IF
NGPL
|
MidCon
|
01/01/09
|
12/31/09
|
34,444
|
310,000
|
$6.85
|
$3.32
|
1,095,497
|
||||
J
Aron & Co
|
03/03/08
|
904120535
|
IF
HSC
|
ArkLaTex
|
04/01/08
|
12/31/09
|
53,333
|
480,000
|
$8.75
|
$3.99
|
2,282,908
|
||||
447,777
|
2,530,000
|
15.95%
|
|||||||||||||
JPMorgan
|
05/19/06
|
2594706
|
IF
PEPL
|
MidCon
|
01/01/09
|
06/30/09
|
180,000
|
540,000
|
$7.24
|
$2.68
|
2,464,935
|
||||
JPMorgan
|
06/20/06
|
2715473
|
IF
CIG
|
Rockies
|
01/01/09
|
07/31/09
|
150,000
|
600,000
|
$7.48
|
$2.47
|
3,006,479
|
||||
JPMorgan
|
11/01/06
|
4430129
|
IF
El Paso Permian
|
Permian
|
01/01/09
|
12/31/09
|
100,000
|
900,000
|
$6.86
|
$3.32
|
3,183,623
|
||||
JPMorgan
|
01/09/07
|
4962486
|
IF
ANR OK
|
MidCon
|
01/01/09
|
12/31/09
|
34,444
|
310,000
|
$7.16
|
$3.34
|
1,183,538
|
||||
JPMorgan
|
07/30/07
|
9673554
|
IF
HSC
|
Gulf
Coast
|
01/01/09
|
12/31/09
|
160,000
|
1,440,000
|
$8.27
|
$3.97
|
6,196,195
|
||||
JPMorgan |
02/26/08
|
13531195
|
IF
ANR OK
|
MidCon
|
01/01/09 | 06/30/09 | 150,000 | 450,000 | $7.60 | $2.79 | 2,164,591 |
CounterParty
|
Contract
Date
|
Contract #
|
Price Index
|
Area
|
Contract
Start
|
Contract
End
|
Monthly
Volumes
|
Remaining
Yearly
Volumes
|
%
of
Hedges
|
Fixed
Price
|
Estimated
Market
Price
|
MtM
Value
at 3/30/09
|
|||
774,444
|
4,240,000
|
26.73%
|
|||||||||||||
Key
Bank
|
07/30/07
|
183268
|
IF
HSC
|
Gulf
Coast
|
01/01/08
|
07/31/09
|
72,500
|
290,000
|
$7.98
|
$3.66
|
1,252,909
|
||||
Key
Bank
|
08/10/07
|
184037
|
IF
PEPL
|
MidCon
|
01/01/08
|
08/31/09
|
180,000
|
900,000
|
$7.33
|
$2.96
|
3,935,840
|
||||
252,500
|
1,190,000
|
7.50%
|
|||||||||||||
Wachovia
|
03/07/07
|
N151732
|
IF
HSC
|
Gulf
|
03/01/09
|
12/31/09
|
77,778
|
700,000
|
$7.47
|
$3.94
|
2,467,893
|
||||
77,778
|
700,000
|
4.41%
|
|||||||||||||
Wells
Fargo
|
07/31/07
|
207849
|
IF
HSC
|
Gulf
Coast
|
08/01/09
|
12/31/09
|
100,000
|
500,000
|
$8.35
|
$4.22
|
2,065,789
|
||||
Wells
Fargo
|
02/20/08
|
314016
|
IF
HSC
|
MidCon
|
01/01/09
|
12/31/09
|
256,667
|
2,310,000
|
$8.32
|
$3.93
|
10,135,271
|
||||
Wells
Fargo
|
03/17/08
|
323740
|
NYMEX
HH
|
Gulf
Coast
|
01/01/09
|
12/31/09
|
110,000
|
880,000
|
$8.71
|
$3.81
|
4,308,809
|
||||
Wells
Fargo
|
03/25/09
|
500075
|
NYMEX
HH
|
07/01/09
|
12/31/09
|
75,000
|
450,000
|
$5.28
|
$5.28
|
0
|
*
|
||||
Wells
Fargo
|
03/25/09
|
500061
|
IF
CENTERPOINT
|
07/01/09
|
12/31/09
|
220,000
|
1,320,000
|
$4.15
|
$4.15
|
0
|
*
|
||||
761,667
|
5,460,000
|
34.43%
|
|||||||||||||
Total
GAS SWAPS - 2009
|
1,762,222
|
15,860,000
|
100.00%
|
$7.01
|
$4.01
|
61,091,956
|
|||||||||
BNP
Paribas
|
05/05/08
|
180277
|
IF
HSC
|
Arklatex
|
06/01/08
|
02/28/11
|
30,000
|
360,000
|
$9.61
|
$5.51
|
1,474,916
|
||||
30,000
|
360,000
|
2.23%
|
|||||||||||||
Comerica
|
07/30/07
|
ESWP253
|
IF
HSC
|
Gulf
Coast
|
01/01/10
|
08/31/10
|
100,000
|
800,000
|
$8.16
|
$5.36
|
2,240,283
|
||||
100,000
|
800,000
|
4.95%
|
|||||||||||||
J
Aron & Co
|
07/30/07
|
737564622
|
IF
HSC
|
Gulf
Coast
|
01/01/10
|
04/30/10
|
110,000
|
440,000
|
$8.67
|
$5.26
|
1,500,320
|
||||
J
Aron & Co
|
12/22/06
|
892369629
|
IF
NGPL
|
MidCon
|
01/01/10
|
02/28/10
|
30,000
|
60,000
|
$7.60
|
$5.00
|
155,877
|
||||
140,000
|
500,000
|
3.09%
|
|||||||||||||
JPMorgan
|
11/01/06
|
4430129
|
IF
El Paso Permian
|
Permian
|
01/01/10
|
12/31/10
|
90,833
|
1,090,000
|
$6.79
|
$5.10
|
1,839,603
|
||||
JPMorgan
|
01/09/07
|
4962486
|
IF
ANR OK
|
MidCon
|
01/01/10
|
02/28/10
|
30,000
|
60,000
|
$7.98
|
$5.04
|
175,964
|
||||
JPMorgan
|
07/30/07
|
9673554
|
IF
HSC
|
Gulf
Coast
|
01/01/10
|
08/31/10
|
160,000
|
1,280,000
|
$8.23
|
$5.36
|
3,675,958
|
||||
280,833
|
2,430,000
|
15.03%
|
|||||||||||||
CounterParty
|
Contract
Date
|
Contract#
|
Price
Index
|
Area
|
Contract
Start
|
Contract
End
|
Monthly
Volumes
|
Remaining
Yearly
Volumes
|
%
of
Hedges
|
Fixed
Price
|
Estimated
Market
Price
|
MtM
Value
at 3/30/09
|
|||
Key
Bank
|
03/25/09
|
231621
|
IF
NGPL
|
MidCon
|
01/01/10
|
12/31/11
|
77,500
|
930,000
|
$5.37
|
$5.37
|
0
|
*
|
|||
77,500
|
930,000
|
5.75%
|
|||||||||||||
Wachovia
|
03/07/07
|
N151732
|
IF
HSC
|
Gulf
|
01/01/10
|
02/28/10
|
70,000
|
140,000
|
$8.37
|
$5.25
|
435,783
|
||||
70,000
|
140,000
|
0.87%
|
|||||||||||||
Wells
Fargo
|
07/31/07
|
207849
|
IF
HSC
|
Gulf
Coast
|
01/01/10
|
08/31/10
|
100,000
|
800,000
|
$8.12
|
$5.36
|
2,208,719
|
||||
Wells
Fargo
|
02/20/08
|
314016
|
IF
HSC
|
MidCon
|
01/01/10
|
12/31/10
|
188,333
|
2,260,000
|
$8.42
|
$5.48
|
6,658,711
|
||||
Wells
Fargo
|
03/17/08
|
323740
|
NYMEX
HH
|
Gulf
Coast
|
01/01/10
|
12/31/10
|
120,000
|
1,440,000
|
$8.66
|
$5.88
|
4,005,819
|
||||
Wells
Fargo
|
03/25/09
|
500075
|
NYMEX
HH
|
01/01/10
|
12/31/10
|
192,500
|
2,310,000
|
$6.18
|
$6.18
|
0
|
*
|
||||
Wells
Fargo
|
03/25/09
|
500061
|
IF
CENTERPOINT
|
01/01/10
|
12/31/10
|
350,000
|
4,200,000
|
$5.32
|
$5.32
|
0
|
*
|
||||
950,833
|
11,010,000
|
68.09%
|
|||||||||||||
Total
GAS SWAPS - 2010
|
1,347,500
|
16,170,000
|
100.00%
|
$4.75
|
$3.24
|
24,371,953
|
|||||||||
BNP
Paribas
|
05/05/08
|
180277
|
IF
HSC
|
Arklatex
|
06/01/08
|
02/28/11
|
20,000
|
40,000
|
$9.98
|
$6.49
|
139,634
|
||||
20,000
|
40,000
|
0.70%
|
|||||||||||||
JPMorgan
|
11/01/06
|
4430129
|
IF
El Paso Permian
|
Permian
|
01/01/11
|
10/31/11
|
88,000
|
880,000
|
$6.34
|
$5.64
|
612,332
|
||||
88,000
|
880,000
|
15.41%
|
|||||||||||||
Key
Bank
|
03/25/09
|
231621
|
IF
NGPL
|
MidCon
|
01/01/11
|
12/31/11
|
40,000
|
480,000
|
$5.98
|
$5.98
|
0
|
*
|
|||
40,000
|
480,000
|
8.41%
|
|||||||||||||
Wells
Fargo
|
02/20/08
|
314016
|
IF
HSC
|
MidCon
|
01/01/11
|
12/31/11
|
160,000
|
320,000
|
$8.89
|
$6.46
|
775,023
|
||||
Wells
Fargo
|
03/25/09
|
500075
|
NYMEX
HH
|
01/01/11
|
12/31/11
|
177,500
|
2,130,000
|
$6.72
|
$6.72
|
0
|
*
|
||||
Wells
Fargo
|
03/25/09
|
500061
|
IF
CENTERPOINT
|
01/01/11
|
12/31/11
|
155,000
|
1,860,000
|
$5.96
|
$5.96
|
0
|
*
|
||||
492,500
|
4,310,000
|
75.48%
|
|||||||||||||
Total
GAS SWAPS - 2011
|
475,833
|
5,710,000
|
100.00%
|
$2.05
|
$1.78
|
1,526,989
|
|||||||||
CounterParty
|
Contract
Date
|
Contract
#
|
Price
Index
|
Area
|
Contract
Start
|
Contract
End
|
Monthly
Volumes
|
Remaining
Yearly
Volumes
|
%
of
Hedges
|
Fixed
Price
|
Estimated
Market
Price
|
MtM
Value
at 3/30/09
|
|||
GAS
COLLARS
|
|||||||||||||||
BNP
Paribas
|
10/12/05
|
93594
(FLOOR)
|
PEPL
|
MidCon
|
01/01/09
|
12/31/09
|
152,778
|
1,375,000
|
$5.30
|
$2.12
|
2,916,051
|
||||
BNP
Paribas
|
10/12/05
|
93594
(CAP)
|
PEPL
|
MidCon
|
01/01/09
|
12/31/09
|
(152,778)
|
(1,375,000)
|
$9.20
|
($0.01)
|
(12,416)
|
||||
152,778
|
1,375,000
|
20.18%
|
|||||||||||||
Comerica
|
10/13/05
|
ECAP0220
(FLOOR)
|
PEPL
|
MidCon
|
01/01/09
|
12/31/09
|
155,000
|
1,395,000
|
$5.300
|
$2.12
|
2,961,322
|
||||
Comerica
|
10/13/05
|
ECAP0220
(CAP)
|
PEPL
|
MidCon
|
01/01/09
|
12/31/09
|
(155,000)
|
(1,395,000)
|
$9.390
|
($0.01)
|
(11,175)
|
||||
155,000
|
1,395,000
|
20.47%
|
|||||||||||||
JP
Morgan
|
10/10/05
|
1568646
(FLOOR)
|
CIG
|
Rockies
|
01/01/09
|
12/31/09
|
200,000
|
1,800,000
|
$4.75
|
$1.99
|
3,577,286
|
||||
JP
Morgan
|
10/10/05
|
1568646
(CAP)
|
CIG
|
Rockies
|
01/01/09
|
12/31/09
|
(200,000)
|
(1,800,000)
|
$8.82
|
($0.01)
|
(10,358)
|
||||
JP
Morgan
|
10/12/05
|
1589334
(FLOOR)
|
NYMEX
HH
|
Gulf
Coast
|
01/01/09
|
12/31/09
|
30,000
|
240,000
|
$6.00
|
$2.14
|
513,946
|
||||
JP
Morgan
|
10/12/05
|
1589334
(CAP)
|
NYMEX
HH
|
Gulf
Coast
|
01/01/09
|
12/31/09
|
(30,000)
|
(240,000)
|
$10.35
|
($0.02)
|
(5,092)
|
||||
230,000
|
2,040,000
|
29.93%
|
|||||||||||||
Wachovia
|
10/11/05
|
1258100
(FLOOR)
|
PEPL
|
MidCon
|
01/01/09
|
12/31/09
|
152,778
|
1,375,000
|
$5.300
|
$2.12
|
2,916,051
|
||||
Wachovia
|
10/11/05
|
1258100
(CAP)
|
PEPL
|
MidCon
|
01/01/09
|
12/31/09
|
(152,778)
|
(1,375,000)
|
$9.170
|
($0.01)
|
(12,641)
|
||||
152,778
|
1,375,000
|
20.18%
|
|||||||||||||
Wells
Fargo
|
10/12/05
|
COP2506
(FLOOR)
|
HSC
|
Arklatex
|
01/01/09
|
12/31/09
|
70,000
|
630,000
|
$5.570
|
$1.78
|
1,122,403
|
||||
Wells
Fargo
|
10/12/05
|
COP2506
(CAP)
|
HSC
|
Arklatex
|
01/01/09
|
12/31/09
|
(70,000)
|
(630,000)
|
$9.490
|
($0.02)
|
(10,939)
|
||||
70,000
|
630,000
|
9.24%
|
|||||||||||||
Total
GAS COLLARS - 2009
|
757,222
|
6,815,000
|
100.00%
|
13,944,438
|
|||||||||||
Comerica
|
10/12/05
|
ECAP0222
(FLOOR)
|
PEPL
|
MidCon
|
01/01/10
|
12/31/10
|
100,000
|
1,200,000
|
$5.31
|
$1.07
|
1,285,152
|
||||
Comerica
|
10/12/05
|
ECAP0222
(CAP)
|
PEPL
|
MidCon
|
01/01/10
|
12/31/10
|
(100,000)
|
(1,200,000)
|
$7.60
|
($0.28)
|
(336,610)
|
CounterParty
|
Contract
Date
|
Contract #
|
Price Index
|
Area
|
Contract
Start
|
Contract
End
|
Monthly
Volumes
|
Remaining
Yearly
Volumes
|
%
of
Hedges
|
Fixed
Price
|
Estimated
Market
Price
|
MtM
Value
at 3/30/09
|
|||
Comerica
|
10/12/05
|
ECAP0221
(FLOOR)
|
NYMEX
HH
|
Gulf
Coast
|
01/01/10
|
12/31/10
|
20,000
|
240,000
|
$6.00
|
$1.11
|
266,363
|
||||
Comerica
|
10/12/05
|
ECAP0221
(CAP)
|
NYMEX
HH
|
Gulf
Coast
|
01/01/10
|
12/31/10
|
(20,000)
|
(240,000)
|
$8.38
|
($0.39)
|
(93,571)
|
||||
120,000
|
1,440,000
|
18.40%
|
|||||||||||||
JP
Morgan
|
10/10/05
|
1568647
(FLOOR)
|
CIG
|
Rockies
|
01/01/10
|
12/31/10
|
170,000
|
2,040,000
|
$4.85
|
$0.98
|
2,002,445
|
||||
JP
Morgan
|
10/10/05
|
1568647
(CAP)
|
CIG
|
Rockies
|
01/01/10
|
12/31/10
|
(170,000)
|
(2,040,000)
|
$7.08
|
($0.26)
|
(526,554)
|
||||
JP
Morgan
|
10/13/05
|
1591124
(FLOOR)
|
PEPL
|
MidCon
|
01/01/10
|
12/31/10
|
160,000
|
1,920,000
|
$5.31
|
$1.07
|
2,056,243
|
||||
JP
Morgan
|
10/13/05
|
1591124
(CAP)
|
PEPL
|
MidCon
|
01/01/10
|
12/31/10
|
(160,000)
|
(1,920,000)
|
$7.69
|
($0.27)
|
(519,657)
|
||||
330,000
|
3,960,000
|
50.61%
|
|||||||||||||
Wachovia
|
10/12/05
|
1266587
(FLOOR)
|
HSC
|
Arklatex
|
01/01/10
|
12/31/10
|
50,000
|
600,000
|
$5.570
|
$1.02
|
613,125
|
||||
Wachovia
|
10/12/05
|
1266587
(CAP)
|
HSC
|
Arklatex
|
01/01/10
|
12/31/10
|
(50,000)
|
(600,000)
|
$7.880
|
($0.36)
|
(216,546)
|
||||
50,000
|
600,000
|
7.67%
|
|||||||||||||
Wells
Fargo
|
10/11/05
|
COP2507
(FLOOR)
|
PEPL
|
MidCon
|
01/01/10
|
12/31/10
|
152,083
|
1,825,000
|
$5.300
|
$1.06
|
1,942,878
|
||||
Wells
Fargo
|
10/11/05
|
COP2507
(CAP)
|
PEPL
|
MidCon
|
01/01/10
|
12/31/10
|
(152,083)
|
(1,825,000)
|
$7.540
|
($0.29)
|
(524,993)
|
||||
152,083
|
1,825,000
|
23.32%
|
|||||||||||||
Total
GAS COLLARS - 2010
|
652,083
|
7,825,000
|
100.00%
|
5,948,275
|
|||||||||||
BNP
|
10/10/05
|
93595
(FLOOR)
|
CIG
|
Rockies
|
01/01/11
|
12/31/11
|
150,000
|
1,800,000
|
$5.00
|
$0.79
|
1,422,019
|
||||
BNP
|
10/10/05
|
93595
(CAP)
|
CIG
|
Rockies
|
01/01/11
|
12/31/11
|
(150,000)
|
(1,800,000)
|
$6.32
|
($0.74)
|
(1,323,435)
|
||||
150,000
|
1,800,000
|
27.17%
|
|||||||||||||
Comerica
|
10/12/05
|
ECAP0223
(FLOOR)
|
NYMEX
HH
|
Gulf
Coast
|
01/01/11
|
12/31/11
|
10,000
|
120,000
|
$6.00
|
$0.91
|
109,040
|
||||
Comerica
|
10/12/05
|
ECAP0223
(CAP)
|
NYMEX
HH
|
Gulf
Coast
|
01/01/11
|
12/31/11
|
(10,000)
|
(120,000)
|
$7.25
|
($1.00)
|
(119,409)
|
||||
10,000
|
120,000
|
1.81%
|
|||||||||||||
CounterParty
|
Contract
Date
|
Contract #
|
Price Index
|
Area
|
Contract
Start
|
Contract
End
|
Monthly
Volumes
|
Remaining
Yearly
Volumes
|
%
of
Hedges
|
Fixed
Price
|
Estimated
Market
Price
|
MtM
Value
at 3/30/09
|
|||
JP
Morgan
|
10/13/05
|
1591128
(FLOOR)
|
PEPL
|
MidCon
|
01/01/11
|
12/31/11
|
200,000
|
2,400,000
|
$5.31
|
$0.83
|
1,983,604
|
||||
JP
Morgan
|
10/13/05
|
1591128
(CAP)
|
PEPL
|
MidCon
|
01/01/11
|
12/31/11
|
(200,000)
|
(2,400,000)
|
$6.58
|
($0.82)
|
(1,959,506)
|
||||
JP
Morgan
|
10/12/05
|
1589331
(FLOOR)
|
HSC
|
Arklatex
|
01/01/11
|
12/31/11
|
40,000
|
480,000
|
$5.57
|
$0.80
|
385,466
|
||||
JP
Morgan
|
10/12/05
|
1589331
(CAP)
|
HSC
|
Arklatex
|
01/01/11
|
12/31/11
|
(40,000)
|
(480,000)
|
$6.77
|
($0.98)
|
(468,773)
|
||||
240,000
|
2,880,000
|
43.47%
|
|||||||||||||
Wachovia
|
10/11/05
|
1258101
(FLOOR)
|
PEPL
|
MidCon
|
01/01/11
|
12/31/11
|
152,083
|
1,825,000
|
$5.30
|
$0.82
|
1,499,868
|
||||
Wachovia
|
10/112005
|
1258101
(CAP)
|
PEPL
|
MidCon
|
01/01/11
|
12/31/11
|
(152,083)
|
(1,825,000)
|
$6.42
|
($0.86)
|
(1,568,252)
|
||||
152,083
|
1,825,000
|
27.55%
|
|||||||||||||
Total
GAS COLLARS - 2011
|
552,083
|
6,625,000
|
100.00%
|
(39,378)
|
|||||||||||
Oil
SWAPS
|
|||||||||||||||
BNP
Paribas
|
10/12/06
|
118518
|
NYMEX
|
Permian
|
01/01/09
|
09/30/09
|
1,000
|
6,045
|
$66.38
|
$53.24
|
79,449
|
||||
BNP
Paribas
|
10/26/06
|
119702
|
NYMEX
|
Permian
|
01/01/09
|
12/31/09
|
20,000
|
180,909
|
$67.35
|
$55.52
|
2,139,505
|
||||
BNP
Paribas
|
12/21/06
|
124753
|
NYMEX
|
Permian
|
01/01/09
|
12/31/09
|
2,000
|
18,091
|
$68.06
|
$55.45
|
228,040
|
||||
BNP
Paribas
|
10/27/06
|
119812
|
NYMEX
|
Permian
|
01/01/09
|
12/31/09
|
10,000
|
90,455
|
$67.56
|
$55.48
|
1,093,072
|
||||
33,000
|
295,500
|
25.36%
|
|||||||||||||
Comerica
|
8/3/2006
|
ESWP237
|
NYMEX
|
Permian
|
01/01/09
|
09/30/09
|
2,000
|
12,091
|
$74.49
|
$51.94
|
272,658
|
||||
Comerica
|
11/6/2006
|
ESWP247
|
NYMEX
|
Permian
|
01/01/09
|
12/31/09
|
18,000
|
162,818
|
$67.25
|
$55.53
|
1,908,570
|
||||
Comerica
|
3/5/2008
|
ESWP273
|
NYMEX
|
Permian
|
04/01/08
|
12/31/09
|
17,667
|
159,727
|
$97.13
|
$53.13
|
7,028,286
|
||||
37,667
|
334,636
|
28.72%
|
|||||||||||||
J
Aron & Co
|
09/25/06
|
889669056
|
NYMEX
|
Permian
|
01/01/09
|
09/30/09
|
2,000
|
12,091
|
$65.03
|
$53.42
|
140,400
|
||||
2,000
|
12,091
|
1.04%
|
|||||||||||||
JPMorgan
|
10/27/2006
|
4389629
|
NYMEX
|
Permian
|
01/01/09
|
12/31/09
|
8,000
|
72,364
|
$67.76
|
$55.46
|
890,140
|
||||
JPMorgan
|
10/27/06
|
14481873
|
NYMEX
|
Permian
|
01/01/09
|
12/31/09
|
23,000
|
208,045
|
$67.52
|
$55.49
|
2,502,366
|
||||
8,000
|
280,409
|
24.07%
|
|||||||||||||
CounterParty
|
Contract
Date
|
Contract
#
|
Price Index
|
Area
|
Contract
Start
|
Contract
End
|
Monthly
Volumes
|
Remaining
Yearly
Volumes
|
%
of
Hedges
|
Fixed
Price
|
Estimated
Market
Price
|
MtM
Value
at 3/30/09
|
|||
Key
Bank
|
10/27/2006
|
168462
|
NYMEX
|
Permian
|
01/01/09
|
12/31/09
|
10,000
|
90,455
|
$67.47
|
$55.49
|
1,083,707
|
||||
10,000
|
90,455
|
7.76%
|
|||||||||||||
Wachovia
|
10/27/2006
|
1618348
|
NYMEX
|
Permian
|
01/01/09
|
12/31/09
|
13,000
|
117,773
|
$67.47
|
$54.52
|
1,524,642
|
||||
Wachovia
|
6/21/2007
|
N220968
|
NYMEX
|
Permian
|
01/01/09
|
07/31/09
|
4,000
|
16,182
|
$72.04
|
$49.42
|
365,958
|
||||
17,000
|
133,955
|
11.50%
|
|||||||||||||
Wells
Fargo
|
10/27/06
|
137532
|
NYMEX
|
Permian
|
01/01/09
|
12/31/09
|
2,000
|
18,091
|
$67.64
|
$55.47
|
220,086
|
||||
2,000
|
18,091
|
1.55%
|
|||||||||||||
Total
OIL SWAPS - 2009
|
97,095
|
1,165,137
|
100.00%
|
$71.64
|
$54.92
|
19,476,879
|
|||||||||
BNP
Paribas
|
10/26/06
|
119702
|
NYMEX
|
Permian
|
01/01/10
|
12/31/10
|
20,000
|
240,000
|
$66.57
|
$64.69
|
450,943
|
||||
BNP
Paribas
|
12/21/06
|
124753
|
NYMEX
|
Permian
|
01/01/10
|
12/31/10
|
2,000
|
24,000
|
$67.54
|
$64.71
|
68,009
|
||||
BNP
Paribas
|
10/27/06
|
119812
|
NYMEX
|
Permian
|
01/01/10
|
12/31/10
|
10,000
|
120,000
|
$66.85
|
$64.69
|
258,888
|
||||
32,000
|
384,000
|
30.99%
|
|||||||||||||
Comerica
|
11/6/2006
|
ESWP247
|
NYMEX
|
Permian
|
01/01/10
|
12/31/10
|
18,000
|
216,000
|
$66.24
|
$64.68
|
336,727
|
||||
18,000
|
216,000
|
17.43%
|
|||||||||||||
JPMorgan
|
10/27/2006
|
4389629
|
NYMEX
|
Permian
|
01/01/10
|
12/31/10
|
5,000
|
60,000
|
$66.57
|
$64.69
|
112,909
|
||||
JPMorgan
|
10/27/06
|
14481873
|
NYMEX
|
Permian
|
01/01/10
|
12/31/10
|
23,000
|
276,000
|
$66.42
|
$64.69
|
478,620
|
||||
28,000
|
336,000
|
27.12%
|
|||||||||||||
Key
Bank
|
10/27/2006
|
168462
|
NYMEX
|
Permian
|
01/01/10
|
12/31/10
|
10,000
|
120,000
|
$66.35
|
$64.68
|
199,938
|
||||
10,000
|
120,000
|
9.69%
|
|||||||||||||
Wachovia
|
10/27/2006
|
1618348
|
NYMEX
|
Permian
|
01/01/10
|
12/31/10
|
14,250
|
171,000
|
$66.33
|
$64.64
|
288,303
|
||||
14,250
|
171,000
|
13.80%
|
|||||||||||||
Wells
Fargo
|
10/27/06
|
137532
|
NYMEX
|
Permian
|
01/01/10
|
12/31/10
|
1,000
|
12,000
|
$66.56
|
$64.69
|
22,453
|
||||
1,000
|
12,000
|
0.97%
|
|||||||||||||
CounterParty
|
Contract
Date
|
Contract#
|
Price Index
|
Area
|
Contract
Start
|
Contract
End
|
Monthly
Volumes
|
Remaining
Yearly
Volumes
|
%
of
Hedges
|
Fixed
Price
|
Estimated
Market
Price
|
MtM
Value
at 3/30/09
|
|||
Total
OIL SWAPS - 2010
|
137,667
|
1,239,000
|
100.00%
|
$66.47
|
$64.68
|
2,216,790
|
|||||||||
BNP
Paribas
|
10/26/06
|
119702
|
NYMEX
|
Permian
|
01/01/11
|
11/30/11
|
20,000
|
220,000
|
$65.47
|
$69.13
|
(804,611)
|
||||
BNP
Paribas
|
12/21/06
|
124753
|
NYMEX
|
Permian
|
01/01/11
|
01/31/11
|
2,000
|
2,000
|
$67.21
|
$67.68
|
(931)
|
||||
BNP
Paribas
|
10/27/06
|
119812
|
NYMEX
|
Permian
|
01/01/11
|
11/30/11
|
10,000
|
110,000
|
$65.98
|
$69.14
|
(347,513)
|
||||
32,000
|
332,000
|
32.17%
|
|||||||||||||
Comerica
|
11/6/2006
|
ESWP247
|
NYMEX
|
Permian
|
01/01/11
|
11/30/11
|
18,000
|
198,000
|
$65.02
|
$69.11
|
(809,540)
|
||||
18,000
|
198,000
|
19.19%
|
|||||||||||||
JPMorgan
|
10/27/2006
|
4389629
|
NYMEX
|
Permian
|
01/01/11
|
11/30/11
|
4,000
|
44,000
|
$65.33
|
$69.12
|
(166,650)
|
||||
JPMorgan
|
10/27/06
|
14481873
|
NYMEX
|
Permian
|
01/01/11
|
11/30/11
|
23,000
|
253,000
|
$65.28
|
$69.11
|
(969,874)
|
||||
27,000
|
297,000
|
28.78%
|
|||||||||||||
Key
Bank
|
10/27/2006
|
168462
|
NYMEX
|
Permian
|
01/01/11
|
11/30/11
|
10,000
|
110,000
|
$65.20
|
$69.11
|
(430,148)
|
||||
10,000
|
110,000
|
10.66%
|
|||||||||||||
Wachovia
|
10/27/2006
|
1618348
|
NYMEX
|
Permian
|
01/01/11
|
10/30/11
|
8,400
|
84,000
|
$65.42
|
$68.50
|
(259,091)
|
||||
8,400
|
84,000
|
8.14%
|
|||||||||||||
Wells
Fargo
|
10/27/06
|
137532
|
NYMEX
|
Permian
|
01/01/11
|
11/30/11
|
1,000
|
11,000
|
$65.33
|
$69.12
|
(41,730)
|
||||
1,000
|
11,000
|
1.07%
|
|||||||||||||
Total
OIL SWAPS - 2011
|
86,000
|
1,032,000
|
100.00%
|
$65.35
|
$69.07
|
(3,830,088)
|
|||||||||
Oil
COLLARS
|
|||||||||||||||
BNP
Paribas
|
10/12/05
|
93578
(FLOOR)
|
NYMEX
|
Williston
|
01/01/09
|
12/31/09
|
15,300
|
138,205
|
$50.00
|
$3.59
|
496,334
|
||||
BNP
Paribas
|
10/12/05
|
93578
(CAP)
|
NYMEX
|
Williston
|
01/01/09
|
12/31/09
|
(15,300)
|
(138,205)
|
$69.15
|
($3.03)
|
(418,926)
|
||||
15,300
|
138,205
|
11.96%
|
|||||||||||||
Comerica
|
10/11/05
|
ECAP0208
(FLOOR)
|
NYMEX
|
Williston
|
01/01/09
|
12/31/09
|
15,300
|
138,205
|
$50.00
|
$3.59
|
496,334
|
CounterParty
|
Contract
Date
|
Contract#
|
Price Index
|
Area
|
Contract
Start
|
Contract
End
|
Monthly
Volumes
|
Remaining
Yearly
Volumes
|
%
of
Hedges
|
Fixed
Price
|
Estimated
Market
Price
|
MtM
Value
at 3/30/09
|
|||
Comerica
|
10/11/05
|
ECAP0208
(CAP)
|
NYMEX
|
Williston
|
01/01/09
|
12/31/09
|
(15,300)
|
(138,205)
|
$67.65
|
($3.37)
|
(465,974)
|
||||
Comerica
|
10/13/05
|
ECAP0209
(FLOOR)
|
NYMEX
|
Williston
|
01/01/09
|
12/31/09
|
5,500
|
49,750
|
$50.00
|
$3.59
|
178,367
|
||||
Comerica
|
10/13/05
|
ECAP0209
(CAP)
|
NYMEX
|
Williston
|
01/01/09
|
12/31/09
|
(5,500)
|
(49,750)
|
$67.350
|
($3.44)
|
(171,064)
|
||||
20,800
|
187,955
|
16.27%
|
|||||||||||||
JP
Morgan
|
10/10/05
|
1567755/56
(FLOOR)
|
NYMEX
|
Williston
|
01/01/09
|
12/31/09
|
45,900
|
414,614
|
$50.00
|
$3.59
|
1,489,005
|
||||
JP
Morgan
|
10/10/05
|
1567755/56
(CAP)
|
NYMEX
|
Williston
|
01/01/09
|
12/31/09
|
(45,900)
|
(414,614)
|
$65.75
|
($3.85)
|
(1,596,342)
|
||||
45,900
|
414,614
|
35.89%
|
|||||||||||||
RBC
|
10/12/05
|
26597
(FLOOR)
|
NYMEX
|
Williston
|
01/01/09
|
12/31/09
|
15,300
|
138,205
|
$50.00
|
$3.59
|
496,334
|
||||
RBC
|
10/12/05
|
26597
(CAP)
|
NYMEX
|
Williston
|
01/01/09
|
12/31/09
|
(15,300)
|
(138,205)
|
$69.10
|
($3.04)
|
(420,394)
|
||||
15,300
|
138,205
|
11.96%
|
|||||||||||||
Wachovia
|
10/11/05
|
1258089
(FLOOR)
|
NYMEX
|
Williston
|
01/01/09
|
12/31/09
|
15,300
|
138,205
|
$50.00
|
$3.59
|
496,334
|
||||
Wachovia
|
10/11/05
|
1258089
(CAP)
|
NYMEX
|
Williston
|
01/01/09
|
12/31/09
|
(15,300)
|
(138,205)
|
$68.00
|
($3.29)
|
(454,551)
|
||||
15,300
|
138,205
|
11.96%
|
|||||||||||||
Wells
Fargo
|
10/11/05
|
COP2497
(FLOOR)
|
NYMEX
|
Williston
|
01/01/09
|
12/31/09
|
15,300
|
138,205
|
$50.00
|
$3.59
|
496,334
|
||||
Wells
Fargo
|
10/11/05
|
COP2497
(CAP)
|
NYMEX
|
Williston
|
01/01/09
|
12/31/09
|
(15,300)
|
(138,205)
|
$67.35
|
($3.44)
|
(475,959)
|
||||
15,300
|
138,205
|
11.96%
|
|||||||||||||
Total
OIL Collars - 2009
|
96,282
|
1,155,389
|
100.00%
|
145,832
|
|||||||||||
BNP
Paribas
|
10/12/05
|
93579
(FLOOR)
|
NYMEX
|
Williston
|
01/01/10
|
12/31/10
|
15,208
|
182,500
|
$50.00
|
$4.46
|
814,106
|
||||
BNP
Paribas
|
10/12/05
|
93579
(CAP)
|
NYMEX
|
Williston
|
01/01/10
|
12/31/10
|
(15,208)
|
(182,500)
|
$67.00
|
($9.40)
|
(1,714,801)
|
||||
15,208
|
182,500
|
13.35%
|
|||||||||||||
Comerica
|
10/11/05
|
ECAP0210
(FLOOR)
|
NYMEX
|
Williston
|
01/01/10
|
12/31/10
|
15,208
|
182,500
|
$50.00
|
$4.46
|
814,106
|
||||
Comerica
|
10/11/05
|
ECAP0210
(CAP)
|
NYMEX
|
Williston
|
01/01/10
|
12/31/10
|
(15,208)
|
(182,500)
|
$65.50
|
($10.02)
|
(1,829,427)
|
CounterParty
|
Contract
Date
|
Contract#
|
Price Index
|
Area
|
Contract
Start
|
Contract
End
|
Monthly
Volumes
|
Remaining
Yearly
Volumes
|
%
of
Hedges
|
Fixed
Price
|
Estimated
Market
Price
|
MtM
Value
at 3/30/09
|
|||
Comerica
|
10/13/05
|
ECAP0211
(FLOOR)
|
NYMEX
|
Williston
|
01/01/10
|
12/31/10
|
7,500
|
90,000
|
$50.00
|
$4.46
|
401,446
|
||||
Comerica
|
10/13/05
|
ECAP0211
(CAP)
|
NYMEX
|
Williston
|
01/01/10
|
12/31/10
|
(7,500)
|
(90,000)
|
$65.15
|
($10.17)
|
(914,937)
|
||||
22,708
|
272,500
|
19.93%
|
|||||||||||||
JP
Morgan
|
10/10/05
|
1568315/16
(FLOOR)
|
NYMEX
|
Williston
|
01/01/10
|
12/31/10
|
30,417
|
365,000
|
$50.00
|
$4.46
|
1,628,213
|
||||
JP
Morgan
|
10/10/05
|
1568315/16
(CAP)
|
NYMEX
|
Williston
|
01/01/10
|
12/31/10
|
(30,417)
|
(365,000)
|
$62.95
|
($11.19)
|
(4,084,654)
|
||||
30,417
|
365,000
|
26.69%
|
|||||||||||||
RBC
|
10/11/05
|
26595
(FLOOR)
|
NYMEX
|
Williston
|
01/01/10
|
12/31/10
|
15,208
|
182,500
|
$50.00
|
$4.46
|
814,106
|
||||
RBC
|
10/11/05
|
26595
(CAP)
|
NYMEX
|
Williston
|
01/01/10
|
12/31/10
|
(15,208)
|
(182,500)
|
$65.70
|
($9.94)
|
(1,813,678)
|
||||
15,208
|
182,500
|
13.35%
|
|||||||||||||
Wachovia
|
10/10/05
|
1258090
(FLOOR)
|
NYMEX
|
Williston
|
01/01/10
|
12/31/10
|
15,208
|
182,500
|
$50.00
|
$4.46
|
814,106
|
||||
Wachovia
|
10/10/05
|
1258090
(CAP)
|
NYMEX
|
Williston
|
01/01/10
|
12/31/10
|
(15,208)
|
(182,500)
|
$64.00
|
($10.70)
|
(1,951,937)
|
||||
15,208
|
182,500
|
13.35%
|
|||||||||||||
Wells
Fargo
|
10/11/05
|
COP2498
(FLOOR)
|
NYMEX
|
Williston
|
01/01/10
|
12/31/10
|
15,208
|
182,500
|
$50.00
|
$4.46
|
814,106
|
||||
Wells
Fargo
|
10/11/05
|
COP2498
(CAP)
|
NYMEX
|
Williston
|
01/01/10
|
12/31/10
|
(15,208)
|
(182,500)
|
$66.15
|
($9.75)
|
(1,778,775)
|
||||
15,208
|
182,500
|
13.35%
|
|||||||||||||
Total
OIL Collars - 2010
|
113,958
|
1,367,500
|
100.00%
|
(7,988,020)
|
|||||||||||
BNP
Paribas
|
10/13/05
|
93580
(FLOOR)
|
NYMEX
|
Williston
|
01/01/11
|
12/31/11
|
11,750
|
141,000
|
$50.00
|
$4.92
|
693,039
|
||||
BNP
Paribas
|
10/13/05
|
93580
(CAP)
|
NYMEX
|
Williston
|
01/01/11
|
12/31/11
|
(11,750)
|
(141,000)
|
$64.25
|
($15.15)
|
(2,135,800)
|
||||
11,750
|
141,000
|
11.41%
|
|||||||||||||
Comerica
|
10/11/05
|
ECAP0212
(FLOOR)
|
NYMEX
|
Williston
|
01/01/11
|
12/31/11
|
15,208
|
182,500
|
$50.00
|
$4.92
|
897,224
|
||||
Comerica
|
10/11/05
|
ECAP0212
(CAP)
|
NYMEX
|
Williston
|
01/01/11
|
12/31/11
|
(15,208)
|
(182,500)
|
$64.60
|
($14.97)
|
(2,732,773)
|
CounterParty
|
Contract
Date
|
Contract#
|
Price Index
|
Area
|
Contract
Start
|
Contract
End
|
Monthly
Volumes
|
Remaining
Yearly
Volumes
|
%
of
Hedges
|
Fixed
Price
|
Estimated
Market
Price
|
MtM
Value
at 3/30/09
|
|||
15,208
|
182,500
|
14.77%
|
|||||||||||||
JP
Morgan
|
10/10/05
|
1568321/29
(FLOOR)
|
NYMEX
|
Williston
|
01/01/11
|
12/31/11
|
30,417
|
365,000
|
$50.00
|
$4.92
|
1,794,450
|
||||
JP
Morgan
|
10/10/05
|
1568321/29
(CAP)
|
NYMEX
|
Williston
|
01/01/11
|
12/31/11
|
(30,417)
|
(365,000)
|
$62.05
|
($16.33)
|
(5,960,475)
|
||||
30,417
|
365,000
|
29.53%
|
|||||||||||||
RBC
|
10/11/05
|
26594
(FLOOR)
|
NYMEX
|
Williston
|
01/01/11
|
12/31/11
|
15,208
|
182,500
|
$50.00
|
$4.92
|
897,224
|
||||
RBC
|
10/11/05
|
26594
(CAP)
|
NYMEX
|
Williston
|
01/01/11
|
12/31/11
|
(15,208)
|
(182,500)
|
$64.75
|
($14.90)
|
(2,718,644)
|
||||
15,208
|
182,500
|
14.77%
|
|||||||||||||
Wachovia
|
10/10/05
|
1258091
(FLOOR)
|
NYMEX
|
Williston
|
01/01/11
|
12/31/11
|
15,208
|
182,500
|
$50.00
|
$4.92
|
897,224
|
||||
Wachovia
|
10/10/05
|
1258091
(CAP)
|
NYMEX
|
Williston
|
01/01/11
|
12/31/11
|
(15,208)
|
(182,500)
|
$63.10
|
($15.76)
|
(2,876,698)
|
||||
15,208
|
182,500
|
14.77%
|
|||||||||||||
Wells
Fargo
|
10/11/05
|
COP2499
(FLOOR)
|
NYMEX
|
Williston
|
01/01/11
|
12/31/11
|
15,208
|
182,500
|
$50.00
|
$4.92
|
897,224
|
||||
Wells
Fargo
|
10/11/05
|
COP2499
(CAP)
|
NYMEX
|
Williston
|
01/01/11
|
12/31/11
|
(15,208)
|
(182,500)
|
$65.25
|
($14.64)
|
(2,671,791)
|
||||
15,208
|
182,500
|
14.77%
|
|||||||||||||
Total
OIL Collars - 2011
|
103,000
|
1,236,000
|
100.00%
|
(13,019,796)
|
|||||||||||
Natural
Gas Liquid Swaps
|
|||||||||||||||
J
Aron & Co
|
11/08/06
|
891043169
|
OPIS
|
Permian
|
01/01/09
|
10/31/09
|
1,166,262
|
8,201,455
|
$0.86
|
$0.66
|
1,612,103
|
||||
J
Aron & Co
|
09/17/07
|
900695221
|
OPIS
|
Gulf
Coast
|
01/01/09
|
08/31/09
|
1,795,706
|
9,036,457
|
$0.97
|
$0.52
|
4,052,435
|
||||
J
Aron & Co
|
02/21/08
|
903761699
|
OPIS
|
ArkLaTex
|
03/01/09
|
12/31/09
|
38,647
|
349,071
|
$1.13
|
$0.51
|
217,947
|
||||
1,758,698
|
17,586,983
|
75.58%
|
|||||||||||||
JP
Morgan
|
05/05/08
|
15095291
|
OPIS
|
ArkLaTex
|
03/01/09
|
02/28/10
|
629,074
|
5,681,957
|
$1.25
|
$0.50
|
4,252,004
|
||||
629,074
|
5,681,957
|
24.42%
|
|||||||||||||
NGL
Swaps - 2009
|
1,939,078
|
23,268,940
|
100.00%
|
$0.57
|
10,134,489
|
||||||||||
CounterParty
|
Contract
Date
|
Contract#
|
Price Index
|
Area
|
Contract
Start
|
Contract
End
|
Monthly
Volumes
|
Remaining
Yearly
Volumes
|
%
of
Hedges
|
Fixed
Price
|
Estimated
Market
Price
|
MtM
Value
at 3/30/09
|
|||
J
Aron & Co
|
02/21/08
|
903761394
|
OPIS
|
ArkLaTex
|
03/01/10
|
12/31/10
|
27,400
|
274,000
|
$1.08
|
$0.64
|
120,270
|
||||
J
Aron & Co
|
02/21/08
|
903761699
|
OPIS
|
ArkLaTex
|
01/01/10
|
02/28/10
|
31,443
|
62,885
|
$1.13
|
$0.61
|
32,830
|
||||
33,689
|
336,885
|
5.74%
|
|||||||||||||
JP
Morgan
|
05/05/08
|
15095291
|
OPIS
|
ArkLaTex
|
03/01/09
|
02/28/10
|
512,015
|
1,024,029
|
$1.25
|
$0.61
|
651,092
|
||||
512,015
|
1,024,029
|
17.45%
|
|||||||||||||
JP
Morgan
|
05/05/08
|
15095392
|
OPIS
|
ArkLaTex
|
03/01/10
|
02/28/11
|
450,748
|
4,507,479
|
$1.17
|
$0.64
|
2,410,365
|
||||
450,748
|
4,507,479
|
76.81%
|
|||||||||||||
NGL
Swaps - 2010
|
489,033
|
5,868,393
|
100.00%
|
$0.63
|
3,214,557
|
||||||||||
J
Aron & Co
|
02/21/08
|
903761394
|
OPIS
|
ArkLaTex
|
01/01/11
|
02/28/11
|
23,703
|
47,405
|
$1.080
|
$0.69
|
18,639
|
||||
23,703
|
47,405
|
5.75%
|
|||||||||||||
JP
Morgan
|
05/05/08
|
15095392
|
OPIS
|
ArkLaTex
|
03/01/10
|
02/28/11
|
388,791
|
777,582
|
$1.17
|
$0.68
|
379,561
|
||||
388,791
|
777,582
|
94.25%
|
|||||||||||||
NGL
Swaps - 2011
|
68,749
|
824,987
|
100.00%
|
$0.68
|
398,200
|
||||||||||
Total
Net Asset/(Liability) for Gas, Oil, & Natural Gas Liquid
Hedges
|
$117,593,076.00
|
||||||||||||||
*
|
Trade
recently entered into. MTM value estimated to be $0.00 as of
03/25/09.
|
||||||||||||||
Forward
curve was similar on 03/30/2009.
|
|||||||||||||||
1.
|
Senior
Convertible Notes indenture, in the aggregate principal amount of
$287,500,000, due on or about April 1,
2027.
|
2.
|
And
the agreements set forth on the exhibit list to the Company’s Form 10-K
for the year ended December 31, 2008, as material contracts included as
exhibits 10.1 through 10.38.
|
1.
|
50%
general partnership interest in Hilltop Investments holding approximately
41 acres of undeveloped land in Jefferson County at C-470 and
Quincy.
|
2.
|
Residual
net profits interest in land located in Grand Junction, Colorado if
reclaimed by gravel operator and sold as lots in Mid-America Business
Park, a rail served industrial
park.
|