The present value of the estimated future net cash flows from the 2012 estimated proved reserves (before income taxes and using a 10% discount rate (PV-10)), was approximately $1.5 billion. The present value was determined using the 12 month 2012 average price received. The aggregate price used for all future reserves was $91.57 per barrel of oil, $30.57 per barrel of NGLs, and $2.58 per thousand cubic feet (Mcf) of natural gas. Unit’s 2012 year-end proved reserves were independently audited by Ryder Scott Company, L.P. Their audit covered properties which accounted for 82% of the discounted future net cash flow (PV-10). See below for the reconciliation of PV-10 to the standardized measure of discounted future net cash flows as defined by GAAP.2012 Production Information and 2013 Production Guidance
Unit Corporation Announces 2012 Reserve Growth Of 29%, Production Replacement Of 337% And 2013 Guidance
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