Sales Volumes and PricesThe following table displays Pacific Coast Energy Company LP’s (“PCEC”) underlying sales volumes and average prices for the month of September 2012.
|Sales Volumes||Average Price|
|Developed Properties (a)||106,691||$||101.56|
|Remaining Properties (b)||8,298||$||101.69|
|(a) Crude oil sales represented 97% of sales volumes.|
|(b) Crude oil sales represented 100% of sales volumes.|
- 80% of the net profits from the sale of oil and natural gas production from the Developed Properties.
- 7.5% of the proceeds (free of any production or development costs but bearing the proportionate share of production and property taxes and post-production costs) attributable to the sale of all oil and natural gas production from the Remaining Properties located on PCEC’s Orcutt properties, or
- 25% of the net profits from the sale of oil and natural gas production from all of the Remaining Properties.