EIN Presswire: BP Energy Press Releases http://www.einpresswire.com/?nfcode=PRW---1 Constantly updated news and information about ein presswire. Synthetic Genomics Inc. Purchases 81 Acre Site in South California Desert for Scale up and Testing of Innovative Algae Strains http://www.einpresswire.com/article/803787-synthetic-genomics-inc-purchases-81-acre-site-in-south-california-desert-for-scale-up-and-testing-of-innovative-algae-strains http://www.einpresswire.com/article/803787-synthetic-genomics-inc-purchases-81-acre-site-in-south-california-desert-for-scale-up-and-testing-of-innovative-algae-strains Thu, 24 May 2012 19:48:58 +0000 <div class="xn-newslines"> <h1 class="xn-hedline">Synthetic Genomics Inc. Purchases 81 Acre Site in South California Desert for Scale up and Testing of Innovative Algae Strains</h1> <h2 class="xn-hedline">Company will use the Imperial Valley facility to scale up production of algae products including food and nutritional products</h2> <h2 class="xn-hedline">SGI will also test microbial fuel cell technology for purification of water from algae processing</h2> <p class="xn-distributor">PR Newswire</p> </div> <div class="xn-content"> <p><span class="xn-location">LA JOLLA, Calif.</span>, <span class="xn-chron">May 24, 2012</span> /PRNewswire/ -- Synthetic Genomics Inc. (SGI), a privately held company commercializing and developing genomic-driven solutions to solve a range of global challenges, today announced they have purchased an 81 acre site for scale up and testing of newly identified and engineered algal strains. The company will use the site, located in the Imperial Valley near the Salton Sea, to test algal strains isolated by SGI or developed through SGI&#39;s proprietary synthetic genomic technologies, and to develop integrated processes for low cost manufacture of various algal products, including food, flavorings, and nutritional products. Results from SGI&#39;s new facility will inform the design of future commercial production facilities.</p> <p>This large site, chosen for its optimal desert environment of little rainfall and plentiful sunshine, has 42 open ponds ranging in size from 100 to 240,000 gallons. The company is also designing and building a range of new closed photobioreactors to test and scale up engineered strains of algae. The site is currently being renovated, with algae production beginning within the next 60 days. </p> <p>&#34;The Imperial Valley facility is an important step forward for SGI as we will now be able to scale up production of the algae strains that we have isolated, developed and engineered,&#34; said <span class="xn-person">J. Craig Venter</span>, Ph.D., Founder and CEO, SGI. &#34;Over the last year SGI has been making steady progress in identifying and modifying a variety of strains capable of producing a broad range of products for all of our algae programs including our food and nutritional products program. The new facility will help us test these strains and production processes in a larger and more real world setting.&#34;</p> <p>SGI is also testing new microbial fuel cell technology to purify and recycle water from the algae processing. </p> <p><b>About Synthetic Genomics Inc.</b><br/>SGI, a privately held company founded in 2005, is dedicated to developing and commercializing genomic-driven solutions to address a wide range of global challenges. The company is focused on several key research and business programs including: developing algae biofuels in alliance with Exxon Mobil Research and Engineering Company, microbial-enhanced hydrocarbon recovery and conversion through an agreement with BP, new and improved food and nutritional products, and clean water technologies. SGI is also involved in synthetically derived vaccine development through Synthetic Genomic Vaccines Inc. (SGVI), a company co-founded with the J. Craig Venter Institute; and to developing sustainable crops and agricultural products through Agradis Inc., a company co-founded with Plenus S.A. de C.V. For more information go to: <a href="http://www.syntheticgenomics.com/" target="_blank">www.syntheticgenomics.com</a>.</p> <p><b><u>SGI Media Contact</u></b><u>: </u></p> <p><span class="xn-person">Heather Kowalski</span>, <a href="mailto:hkowalski@syntheticgenomics.com" target="_blank">hkowalski@syntheticgenomics.com</a>; 858-361-0466</p> <p>SOURCE Synthetic Genomics Inc.</p> </div> <img alt="" src="http://rt.prnewswire.com/rt.gif?NewsItemId=PH13704&amp;Transmission_Id=201205241548PR_NEWS_USPR_____PH13704&amp;DateId=20120524" style="border:0px; width:1px; height:1px;"/> The Oil & Gas Pipelines Market Analysis 2012-2022 http://www.einpresswire.com/article/802779-the-oil-gas-pipelines-market-analysis-2012-2022 http://www.einpresswire.com/article/802779-the-oil-gas-pipelines-market-analysis-2012-2022 Thu, 24 May 2012 10:47:26 +0000 <div class="xn-newslines"> <h1 class="xn-hedline">The Oil &amp; Gas Pipelines Market Analysis 2012-2022</h1> <p class="xn-distributor">PR Newswire</p> </div> <div class="xn-content"> <p><span class="xn-location">NEW YORK</span>, <span class="xn-chron">May 24, 2012</span> /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:</p> <p><b><a href="http://www.reportlinker.com/p0802473/The-Oil--Gas-Pipelines-Market-Analysis-2012-2022.html#utm_source=prnewswire&amp;utm_medium=pr&amp;utm_campaign=Logistics_and_Freight" target="_blank">The Oil &amp; Gas Pipelines Market Analysis 2012-2022</a></b></p> <p>http://www.reportlinker.com/p0802473/The-Oil--Gas-Pipelines-Market-Analysis-2012-2022.html#utm_source=prnewswire&amp;utm_medium=pr&amp;utm_campaign=Logistics_and_Freight</p> <p><b>Report Details</b></p> <p>Oil and gas pipelines are an essential part of hydrocarbon transportation and distribution. The market is constantly evolving and advancing, from making construction times quicker to increasing pipeline capacity. Pipelines are part of a necessary infrastructure required to ensure the smooth operation of the energy industry. No other transportation method has the ability to move comparable amounts of oil or gas. This unique selling point has allowed the pipelines industry to grow over the previous century and this is set to continue for the foreseeable future. Visiongain calculates that global expenditure on oil and gas pipelines in 2012 will total <span class="xn-money">$60.29bn</span>. </p> <p>Though the pipelines industry will be faced with the restraints of a weak global economy, political instability in certain parts of the world and the expansion of LNG infrastructure, the oil and gas pipelines market is likely to provide substantial opportunities for potential investors. This report offers an examination of the oil and gas market over the next decade, providing detailed market forecasts for each of the national markets and offering in-depth analysis of the opportunities and challenges facing companies in the oil and gas pipelines market throughout the world.</p> <p>The report also describes the most important technological changes within the oil and gas pipelines industry and assesses their importance for the growth of the market over the long-term. The various drivers and restraints of the market are evaluated in order to provide readers with specific insights into the future direction of the oil and gas pipelines market. </p> <p><b>Unique Selling Points</b></p> <p>• Global oil &amp; gas pipelines market forecasts and analysis for 2012-2022.• 202 tables, charts and graphs quantifying, analysing and forecasting the oil &amp; gas pipelines market from 2012-2022.• Analysis and forecasts informed by consultation with industry expert opinion, including a full transcript of an interview with Det Norske Veritas (DNV).• National market forecasts and analysis for the 30 leading national oil &amp; gas pipeline markets along with the market for the rest of the world.• Profiles of the 32 leading companies within the oil and gas pipelines market.• SWOT analysis of the strengths, weaknesses, opportunities and threats facing the oil and gas pipelines market over the next ten years.• Examination of the emerging technologies in the oil and gas pipelines market. </p> <p><b>Methodology</b></p> <p>This report has been compiled by combining information obtained from a very wide and rich mixture of primary and secondary research sources, producing a broad industry overview. Visiongain sought opinions from leading figures in the oil and gas pipelines market to underpin the analysis of market drivers and restraints. The study draws on a diverse range of official corporate and governmental announcements, media reports, policy documents, industry statements and expert opinion as a basis for discussing and predicting developments in the oil and gas pipelines market between 2012 and 2022. </p> <p>Visiongain considers that this methodology results in an accurate, objective mixture of analyses and forecasts.</p> <b>Why you should buy The Oil &amp; Gas Pipelines Market Analysis 2012-2022 <p /></b>• You will gain an understanding of the oil &amp; gas pipelines market and learn how it will evolve over the next decade, with detailed global forecasts from 2012 to 2022. <p>• The forecasts and analysis are underpinned by expert consultation. A transcript of an original interview is included within the report with expert insight from:</p> <p>- Det Norske Veritas (DNV), Head of communications for <span class="xn-location">Europe</span> and North Africa, <span class="xn-person">Per Wiggo Richardsen</span></p> <p>• You will be able to study 202 tables, charts and graphs quantifying the oil and gas pipelines market in detail over the period 2012-2022.</p> <p>• You will receive national sales forecasts for the 30 leading national oil &amp; gas pipelines markets along with the market for the rest of the world for 2012-2022, and gain insight into the specific market drivers and restraints in each of the following national markets:</p> <p>- Algeria</p> <p>- Argentina</p> <p>- Australia</p> <p>- Brazil</p> <p>- Canada</p> <p>- China</p> <p>- France</p> <p>- Germany</p> <p>- India</p> <p>- Indonesia</p> <p>- Iran</p> <p>- Iraq</p> <p>- Italy</p> <p>- Kazakhstan</p> <p>- Libya</p> <p>- Malaysia</p> <p>- Mexico</p> <p>- Nigeria</p> <p>- Norway</p> <p>- Pakistan</p> <p>- Poland</p> <p>- Rest of the World</p> <p>- Russia</p> <p>- Saudi Arabia</p> <p>- Spain</p> <p>- Turkmenistan</p> <p>- UAE</p> <p>- UK</p> <p>- Ukraine</p> <p>- US</p> <p>- Venezuela</p> <p>• You will receive profiles of 32 of the leading companies within the oil and gas pipelines marketplace.</p> <p>• You will receive a SWOT analysis for strengths, weaknesses, opportunities and threats to the oil and gas pipelines market from 2012 onwards.</p> <b>What is the structure of the report? <p /></b>Chapter 2 is an introduction to the oil and gas pipelines market <p>Chapter 3 offers an overview of the oil and gas pipelines market, with the specific drivers and restraints analysed in detail and visiongain&#39;s exclusive forecast from 2012-2022</p> <p>Chapter 4 analyses the 30 leading national oil and gas pipelines markets plus the rest of the world: Detailed market forecasting and analysis is provided for each nation, including information on oil and gas pipelines projects and recent developments.</p> <p>Chapter 5 provides an extensive SWOT analysis, discussing the main strengths, weaknesses, opportunities and threats to the oil and gas pipelines market over the coming decade.</p> <p>Chapter 6 describes emerging technologies within the oil and gas pipelines market which will gain increasing importance during the following decade.</p> <p>Chapter 7 offers expert opinion from a leading specialist involved in the oil and gas pipelines market</p> <p>Chapter 8 lays out profiles of 32 of the leading companies within the oil and gas pipelines market from around the world</p> <p>Chapter 9 is a summary of the report, outlining the main conclusions of the analyses.</p> <p>Chapter 10 is a glossary of acronyms used in the report</p> <b>You can order this report today <p /></b>Anybody with an interest in the oil &amp; gas pipelines market should gain valuable information and insight from this new study by visiongain, which analyses one of the most important elements of the oil &amp; gas industry. The oil &amp; gas pipelines market offers substantial business and investment opportunities and is set to become an increasingly important component of the energy sector in several key regions. <p>This visiongain energy report will be valuable both to those already involved in oil &amp; gas pipelines and those wishing to enter the market in the future. Gain an understanding of how to tap into the potential of this market by ordering The Oil &amp; Gas Pipelines Market Analysis 2012-2022 </p> <p>Visiongain is a trading partner with the US Federal Government</p> <p>CCR Ref number: KD4R6 </p> <b>Table of Contents <p /></b>1. Executive Summary <p>1.1 The Oil &amp; Gas Pipelines Market Overview</p> <p>1.2 Drivers and Restraints in the Oil &amp; Gas Pipelines Market</p> <p>1.2.1 Drivers in the Oil &amp; Gas Pipelines Market</p> <p>1.2.2 Restraints in the Oil &amp; Gas Pipelines Market</p> <p>1.3 Emerging Economies and the Oil &amp; Gas Pipelines Market</p> <p>1.4 Highlights of the Report</p> <p>1.5 Benefits of the Report</p> <p>1.6 Methodology of the Report</p> <p>1.7 The Global Oil &amp; Gas Pipelines Market Forecast 2012-2022</p> <p>1.8 The Fastest Growing Oil &amp; Gas Pipeline Markets</p> <p>2. Introduction to the Oil &amp; Gas Pipelines Market2.1 Pipeline Types2.2 The Components of a Pipeline2.3 Pipeline Construction2.4 Construction of Land Pipelines2.5 Construction of Subsea Pipelines2.6 Pipeline Operation2.7 Leak Detection  </p> <p>3. The Global Oil &amp; Gas Pipelines Market</p> <p>3.1 The Global Oil &amp; Gas Pipelines Market Forecast 2012-2022</p> <p>3.2 Drivers and Restraints of the Oil &amp; Gas Pipelines Market</p> <p>3.3 Drivers</p> <p>3.3.1 Oil Prices</p> <p>3.3.2 Oil Supply</p> <p>3.3.3 Oil Demand</p> <p>3.3.4 Oil Speculation</p> <p>3.3.5 The Dollar Effect</p> <p>3.3.6 Unconventional Oil and Gas</p> <p>3.3.7 Strong Natural Gas Demand</p> <p>3.3.8 Growth from Emerging Countries</p> <p>3.4 Restraints </p> <p>3.4.1 Liquefied Natural Gas (LNG)</p> <p>3.4.2 Slow Economic Growth</p> <p>3.4.3 Political Instability</p> <p>3.4.4 Environmental Concern</p> <p>4. The Leading National Oil &amp; Gas Pipelines Markets4.1 The US Oil &amp; Gas Pipelines Market Forecast 2012-20224.1.1 US Oil &amp; Gas Pipeline Projects4.2 The Russian Oil &amp; Gas Pipelines Market Forecast 2012-20224.2.1 Russian Oil &amp; Gas Pipeline Projects4.3 The Canadian Oil &amp; Gas Pipelines Market Forecast 2012-20224.3.1 Canadian Oil &amp; Gas Pipeline Projects4.4 The Brazilian Oil &amp; Gas Pipelines Market Forecast 2012-20224.4.1 Brazilian Oil &amp; Gas Pipeline Projects4.5 The Chinese Oil &amp; Gas Pipelines Market Forecast 2012-20224.5.1 Chinese Oil &amp; Gas Pipeline Projects4.6 The Indian Oil &amp; Gas Pipelines Market Forecast 2012-20224.6.1 Indian Oil &amp; Gas Pipeline Projects 4.7 The German Oil &amp; Gas Pipelines Market Forecast 2012-20224.7.1 German Oil &amp; Gas Pipeline Projects4.8 The Saudi Arabian Oil &amp; Gas Pipeline Market Forecast 2012-20224.8.1 Saudi Arabia Oil &amp; Gas Pipeline Projects4.9 The French Oil &amp; Gas Pipelines Market Forecast 2012-20224.10 The UAE Oil &amp; Gas Pipeline Market Forecast 2012-20224.10.1 UAE Oil &amp; Gas Pipeline Projects4.11 The Mexican Oil &amp; Gas Pipelines Market Forecast 2012-2022 4.11.1 Mexican Oil &amp; Gas Pipeline Projects4.12 The Kazakh Oil &amp; Gas Pipelines Market Forecast 2012-20224.12.1 Kazakh Oil &amp; Gas Pipeline Projects4.13 The Iranian Oil &amp; Gas Pipeline Market Forecast 2012-20224.13.1 Iranian Oil &amp; Gas Pipeline Projects4.14 The Ukrainian Oil &amp; Gas Pipeline Market Forecast 2012-20224.14.1 Ukrainian Oil &amp; Gas Pipeline Projects 4.15 The Iraqi Oil &amp; Gas Pipeline Market Forecast 2012-20224.15.1 Iraqi Oil &amp; Gas Pipeline Projects4.16 The Venezuelan Oil &amp; Gas Pipelines Market Forecast 2012-20224.16.1 Venezuelan Oil &amp; Gas Pipeline Projects4.17 The Malaysian Oil &amp; Gas Pipeline Market Forecast 2012-20224.17.1 Malaysian Oil &amp; Gas Pipeline Projects4.18 The Spanish Oil &amp; Gas Pipelines Market Forecast 2012-20224.18.1 Spanish Oil &amp; Gas Pipeline Projects 4.19 The Indonesian Oil &amp; Gas Pipelines Market Forecast 2012-20224.19.1 Indonesian Oil &amp; Gas Pipeline Projects 4.20 The Argentinean Oil &amp; Gas Pipelines Market Forecast 2012-20224.20.1 Argentinean Oil &amp; Gas Pipeline Projects 4.21 The Norwegian Oil and Gas Pipelines Market Forecast 2012-20224.21.1 Norwegian Oil &amp; Gas Pipeline Projects4.22 The Algerian Oil &amp; Gas Pipelines Market Forecast 2012-20224.22.1 Algerian Oil &amp; Gas Pipeline Projects4.23 The Australian Oil &amp; Gas Pipelines Market Forecast 2012-20224.23.1 Australian Oil &amp; Gas Pipelines Projects4.24 The Polish Oil &amp; Gas Pipeline Market Forecast 2012-20224.24.1 Polish Oil &amp; Gas Pipeline Projects4.25 The Italian Oil &amp; Gas Pipeline Market Forecast 2012-20224.25.1 Italian Oil &amp; Gas Pipeline Projects4.26 The UK Oil &amp; Gas Pipeline Market Forecast 2012-20224.26.1 UK Oil &amp; Gas Pipeline Projects4.27 The Nigerian Oil &amp; Gas Pipelines Market Forecast 2012-20224.27.1 Nigerian Oil &amp; Gas Pipeline Projects4.28 The Turkmen Oil &amp; Gas Pipeline Market Forecast 2012-20224.28.1 Turkmen Oil &amp; Gas Pipeline Projects4.29 The Libyan Oil &amp; Gas Pipelines Market Forecast 2012-20224.30 The Pakistani Oil &amp; Gas Pipeline Market Forecast 2012-20224.30.1 Pakistani Oil &amp; Gas Pipeline Projects4.31 The Rest of the World Oil &amp; Gas Pipelines Market Forecast 2012-20224.31.1 Aleksandrovac-Novi Pazar Gas Pipeline4.31.2 Bulgarian-Turkish Natural Gas Pipeline4.31.3 Nabucco Pipeline4.31.4 Nam Con Son 2 Gas Pipeline Project- Vietnam4.31.5 PNG LNG Project -Papua New Guinea4.31.6 Slovak-Hungarian Gas Pipeline Interconnector Project4.31.7 The Mozambique to Gauteng Pipeline - Mozambique to South Africa </p> <p>5. SWOT Analysis of the Oil &amp; Gas Pipelines Market 2012-2022</p> <p>5.1 Strengths</p> <p>5.1.1 Cost Effective Way of Transport</p> <p>5.1.2 High Oil Prices</p> <p>5.1.3 Natural Gas Pipelines</p> <p>5.1.4 Unconventional Oil &amp; Gas</p> <p>5.2 Weaknesses</p> <p>5.2.1 Easily Damaged </p> <p>5.2.2 Complex Monitoring Process</p> <p>5.2.3 Poor Economics in Subsea Environments</p> <p>5.2.4 Economic Problems with Cross Border Pipelines</p> <p>5.2.5 Pipeline Capacity and Utilisation Rate</p> <p>5.3 Opportunities</p> <p>5.3.1 Technological Advances </p> <p>5.3.2 Upgrading Infrastructure </p> <p>5.3.3 Pipeline Maintenance Contracts </p> <p>5.3.4 New Oil and Gas Field Discoveries</p> <p>5.3.5 Emerging Non-OECD Economies</p> <p>5.4 Threats</p> <p>5.4.1 LNG Development</p> <p>5.4.2 Natural Gas Low Price Scenario</p> <p>6. New Technology and Techniques Transforming the Oil &amp; Gas Pipelines Market6.1 Geographic Information Systems6.2 Deckhand Pipe Handling System6.3 Vacuum Lifter6.4 Leak Detection6.5 Coating6.6 Heat Wraps6.7 Pressure Isolation6.8 Multiple Pig Launching System </p> <p>7. Expert Opinion</p> <p>7.1 Det Norske Veritas Ltd (DNV)</p> <p>7.1.1 DNV&#39;s Role in the Pipelines Industry</p> <p>7.1.2 Offshore Pipelines</p> <p>7.1.3 Regions Experiencing Expansion within the Oil &amp; Gas Pipelines Market </p> <p>7.1.4 New Technological Developments in the Industry</p> <p>7.1.5 Oil &amp; Gas Pipelines Market and Slow Economic Growth</p> <p>8. Leading Companies in the Oil &amp; Gas Pipelines Market8.1 Leading NOCs Involved in the Oil &amp; Gas Pipelines Market8.1.1 Abu Dhabi National Oil Company (ANDOC)8.1.2 Gazprom8.1.3 National Iranian Oil Company8.1.4 Nigerian National Petroleum Corporation (NNPC)8.1.5 Petroleos de Venezuela S.A. (PDVSA)8.1.6 Petróleos Mexicanos (Pemex)8.1.7 Petronas8.1.8 Saudi Aramco8.1.9 Sonatrach8.2 Leading International Oil and Gas Companies Involved in the Oil &amp; Gas Pipelines Market8.2.1 BP8.2.2 Chevron Corporation8.2.3 ConocoPhillips 8.2.4 Eni S.P.A.8.2.5 ExxonMobil8.2.6 Lukoil8.2.7 <span class="xn-person">Royal Dutch</span> Shell8.2.8 Total S.A.8.3 Leading Oil and Gas Pipeline Construction and Service Companies8.3.1 Atlas Pipeline Partners L.P. 8.3.2 Bechtel 8.3.3 CrossTex Energy8.3.4 Eagle Rock Energy Partners 8.3.5 El Paso Pipeline Partners L.P8.3.6 Enbridge Energy Partners8.3.7 Energy Transfer 8.3.8 Enterprise Product Partners L.P8.3.9 Kinder Morgan Energy Partners L.P.<span class="xn-chron">8.3.10</span> NuStar Energy L.P.<span class="xn-chron">8.3.11</span> ONEOK Partners L.P.<span class="xn-chron">8.3.12</span> Plains All American Pipelines L.P.<span class="xn-chron">8.3.13</span> Spectra Energy8.3.14 Targa Resources8.3.15 Technip  </p> <p>9. Conclusions</p> <p>9.1 The Global Oil &amp; Gas Pipelines Market 2012-2022</p> <p>9.2 The Fastest Growing Oil &amp; Gas Pipelines Markets</p> <p>9.3 Oil &amp; Gas Pipelines Market Outlook</p> <p>9.4 Summary of the Oil &amp; Gas Pipeline Market</p> <p>10. Glossary  </p> <p><b>List of Tables</b></p> <p>Table 3.1 Global Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 3.2 Global Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 3.3 Leading National Oil &amp; Gas Pipelines Markets Forecast 2012-2022 ($bn, AGR %)Table 3.4 Leading 30 National Markets Pipeline Total by Length and Category (km)Table 3.5 Drivers and Restraints of the Global Oil &amp; Gas Pipelines MarketTable 4.1 US Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.2 US Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.3 US Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.4 Russian Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank,% Share, CAGR %, Cumulative)Table 4.5 Russian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.6 Russian Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.7 Canadian Oil &amp; Gas Pipeline Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.8 Canadian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.9 Canadian Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.10 Brazilian Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.11 Brazilian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.12 Brazilian Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.13 Chinese Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.14 Chinese Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.15 Chinese Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.16 Indian Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.17 Indian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.18 Indian Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.19 German Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.20 German Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.21 German Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.22 Saudi Arabian Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.23 Saudi Arabian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.24 Saudi Arabian Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.25 French Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.26 French Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.27 French Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.28 UAE Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.29 UAE Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.30 UAE Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.31 Mexican Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.32 Mexican Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.33 Mexican Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.34 Kazakh Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.35 Kazakh Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.36 Kazakh Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.37 Iranian Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.38 Iranian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.39 Iranian Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.40 Ukrainian Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.41 Ukrainian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.42 Ukrainian Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.43 Iraqi Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.44 Iraqi Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.45 Iraqi Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.46 Venezuelan Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.47 Venezuelan Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.48 Venezuelan Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.49 Malaysian Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.50 Malaysian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.51 Malaysian Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.52 Spanish Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.53 Spanish Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.54 Spanish Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.55 Indonesian Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.56 Indonesian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.57 Indonesian Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.58 Argentinean Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.59 Argentinean Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.60 Argentinean Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.61 Norwegian Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.62 Norwegian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.63 Norwegian Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.64 Algerian Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.65 Algerian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.66 Algerian Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.67 Australian Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.68 Australian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.69 Australian Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.70 Polish Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.71 Polish Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.72 Polish Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.73 Italian Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.74 Italian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.75 Italian Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.76 UK Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.77 UK Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.78 UK Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.79 Nigerian Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.80 Nigerian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.81 Nigerian Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.82 Turkmen Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.83 Turkmen Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.84 Turkmen Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.85 Libyan Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.86 Libyan Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.87 Libyan Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.88 Pakistani Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.89 Pakistani Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.90 Pakistani Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 4.91 RoW Oil &amp; Gas Pipelines Market Forecast Summary 2012, 2017 and 2022 ($bn, Rank, % Share, CAGR %, Cumulative)Table 4.92 RoW Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn, AGR %)Table 4.93 RoW Oil &amp; Gas Pipelines Market Forecast CAGR (%) 2012-2022, 2012-2017, and 2017-2022Table 5.1 SWOT Analysis of the Oil &amp; Gas Pipelines Market 2012-2022 </p> <p><b>List of Figures</b></p> <p>Figure 1.1 The 10 Fastest Growing National Oil &amp; Gas Pipelines Market Forecasts 2012-2022 ($bn)Figure 3.1 Global Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 3.2 Leading National Oil &amp; Gas Pipeline Market Share Forecast 2012 (%)Figure 3.3 Leading National Oil &amp; Gas Pipeline Market Share Forecast 2017 (%)Figure 3.4 Leading National Oil &amp; Gas Pipeline Market Share Forecast 2022 (%)Figure 3.5 Leading 10 Nations with the Largest Total Oil and Gas Pipeline Length (km)Figure 3.6 Leading 10 Nations with the Largest Total Gas Pipeline Length (km)Figure 3.7 Leading 10 Nations with the Largest Total Oil Pipeline Length (km)Figure 3.8 Average Oil Prices 1990-2012 ($/barrel)Figure 3.9 BRIC Nation&#39;s GDP per Capita ($, current prices) 1992-2012Figure 4.1 US Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.2 US Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.3 US Pipeline Length by Type 2010 (%)Figure 4.4 Russian Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.5 Russian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.6 Russian Pipeline Length by Type 2010 (%)Figure 4.7 Canadian Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.8 Canadian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.9 Canadian Pipelines Length by Type 2010 (%)Figure 4.10 Brazilian Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.11 Brazilian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.12 Brazilian Pipeline Length by Type 2010 (%)Figure 4.13 Chinese Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.14 Chinese Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.15 Chinese Pipeline Length by Type 2010 (%)Figure 4.16 Indian Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.17 Indian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.18 Indian Pipeline Length by Type 2010 (%)Figure 4.19 German Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.20 German Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.21 German Pipeline Length by Type 2010 (%)Figure 4.22 Saudi Arabian Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.23 Saudi Arabian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.24 Saudi Arabian Pipeline Length by Type 2010 (%)Figure 4.25 French Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.26 French Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.27 French Pipeline Length by Type 2010 (%)Figure 4.28 UAE Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.29 UAE Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.30 UAE Pipeline Length by Type 2010 (%)Figure 4.31 Mexican Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.32 Mexican Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.33 Mexican Pipeline Length by Type 2010 (%)Figure 4.34 Kazakh Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.35 Kazakh Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.36 Kazakh Pipeline Length by Type 2010 (%)Figure 4.37 Iranian Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.38 Iranian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.39 Iranian Pipeline Length by Type 2010 (%)Figure 4.40 Ukrainian Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.41 Ukrainian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.42 Ukrainian Pipeline Length by Type 2010 (%)Figure 4.43 Iraqi Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.44 Iraqi Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.45 Iraqi Pipeline Length by Type 2010 (%)Figure 4.46 Venezuelan Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.47 Venezuelan Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.48 Venezuelan Pipeline Length by Type 2010 (%)Figure 4.49 Malaysian Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.50 Malaysian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.51 Malaysian Pipeline Length by Type 2010 (%)Figure 4.52 Spanish Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.53 Spanish Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.54 Spanish Pipeline Length by Type 2010 (%)Figure 4.55 Indonesian Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.56 Indonesian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.57 Indonesian Pipeline Length by Type 2010 (%)Figure 4.58 Argentinean Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.59 Argentinean Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.60 Argentinean Pipeline Length by Type 2010 (%)Figure 4.61 Norwegian Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.62 Norwegian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.63 Norwegian Pipeline Length by Type 2010 (%)Figure 4.64 Algerian Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.65 Algerian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.66 Algerian Pipeline Length by Type 2010 (%)Figure 4.67 Australian Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.68 Australian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.69 Australian Pipeline Length by Type 2010 (%)Figure 4.70 Polish Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.71 Polish Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.72 Polish Pipeline Length by Type 2010 (%)Figure 4.73 Italian Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.74 Italian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.75 Italian Pipeline Length by Type 2010 (%)Figure 4.76 UK Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.77 UK Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.78 UK Pipeline Length by Type 2010 (%)Figure 4.79 Nigerian Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.80 Nigerian Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.81 Nigerian Pipeline Length by Type 2010 (%)Figure 4.82 Turkmen Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.83 Turkmen Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.84 Turkmen Pipeline Length by Type 2010 (%)Figure 4.85 Libyan Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.86 Libyan Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.87 Libyan Pipeline Length by Type 2010 (%)Figure 4.88 Pakistani Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.89 Pakistani Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 4.90 Pakistani Pipeline Length by Type 2010 (%)Figure 4.91 RoW Oil &amp; Gas Pipelines Market Share Forecast 2012, 2017 and 2022 (% Share)Figure 4.92 RoW Oil &amp; Gas Pipelines Market Forecast 2012-2022 ($bn)Figure 5.1 Onshore Pipeline, Offshore Pipeline, LNG Cost per km ($/MMBtu)  </p> <b>Companies Listed <p /></b>Abu Dhabi Company for Onshore Oil Operations (ADCO) <p>Abu Dhabi Gas Industries (GASCO)</p> <p>Abu Dhabi Marine Operating Company (ADMA-OPCO)</p> <p>Abu Dhabi National Drilling Company (NOC)</p> <p>Abu Dhabi National Oil Company (ADNOC)</p> <p>ACIL Tasman</p> <p>ADCOP</p> <p>Allseas </p> <p>Anadarko</p> <p>Anver Corporation</p> <p>Arab Petroleum Pipeline Company</p> <p>Arrow Energy</p> <p>Atlas Pipeline Partners L.P.</p> <p>Australian Gas Light Company (AGL)</p> <p>BASF</p> <p>Bayou Companies LLC</p> <p>Beach Energy</p> <p>Bechtel </p> <p>Belleli Energy</p> <p>BG Group</p> <p>Bison Pipeline LLC</p> <p>Boskalis Westminster</p> <p>Botas </p> <p>BP </p> <p>BP Pipeline-North America</p> <p>BP Products North America Inc</p> <p>Bredero Shaw Ltd</p> <p>Britoil </p> <p>Bulgarian Energy Holding </p> <p>Caspian Pipeline Consortium (CPC)</p> <p>Cassa depositi e prestiti Bank</p> <p>Caterpillar</p> <p>Cespa </p> <p>Chevron</p> <p>Chevron Pipe Line Company</p> <p>China National Oil and Gas Exploration and Development Corporation (CNODC)</p> <p>China National Petroleum Corporation (CNPC)</p> <p>China Petroleum Engineering &amp; Construction (CPEC)</p> <p>Colombian Empresa Colombiana de Petróleos (Ecopetrol)</p> <p>Companhia de Desenvolvimento de Petroleo de Mozambique</p> <p>ConocoPhillips</p> <p>ConocoPhillips Pipe Company (CPPC)</p> <p>Consolidated Contractors Company</p> <p>Consortium Supercemento-ILKA </p> <p>Converteam Group SAS</p> <p>CrossTex Energy</p> <p>DCP Midstream</p> <p>Det Norske Veritas (DNV)</p> <p>DMGP Servicios de Integridad</p> <p>Dodsal Group </p> <p>DOF Subsea</p> <p>Dow Chemical Corporation</p> <p>Druzhba Pipeline Company</p> <p>E.ON</p> <p>E.ON UK</p> <p>Eagle Rock Energy Partners </p> <p>EDF</p> <p>Edison</p> <p>EGL Group</p> <p>Egyptian General Petroleum Corporation (EGPC) </p> <p>El Paso Corporation</p> <p>El Paso Pipeline Corporation</p> <p>El Paso Pipeline Partners L.P</p> <p>Elba Express Company, L.L.C.</p> <p>Elecnor</p> <p>Enbridge Energy Partners</p> <p>Enbridge Inc.</p> <p>Enbridge Pipelines L.L.C</p> <p>Endesa </p> <p>Enel </p> <p>Energía Argentina Sociedad Anónima (ENARSA)</p> <p>Energy Transfer </p> <p>Eni</p> <p>Eni Gas Transport Deutschland SpA</p> <p>Eni Gas Transport GmbH</p> <p>Eni Gas Transport International</p> <p>Enterprise Products Partners L.P.</p> <p>Epic Energy </p> <p>EQT Corporation</p> <p>Equitrans</p> <p>Esso Highlands Limited</p> <p>EUPEC PipeCoatings S.A</p> <p>Euroframe </p> <p>EUROPIPE</p> <p>ExxonMobil</p> <p>ExxonMobil Pipeline Company</p> <p>Fermaca</p> <p>Flowserve</p> <p>Fluor</p> <p>Fluxys G</p> <p>GAIL (<span class="xn-location">India</span>) Limited</p> <p>Gas Company </p> <p>Gasoducto Cruz del Sur Consortium </p> <p>Gassco AS </p> <p>Gassled </p> <p>Gazprom</p> <p>Gaz-System</p> <p>GDF Suez</p> <p>Gigajovle International (Pty) Ltd.</p> <p>GL</p> <p>Global Infrastructure Partners (GIP)</p> <p>Groupe Genoyer </p> <p>Gujarat State Petroleum Corporation (GSPC) </p> <p>Halliburton</p> <p>Hera </p> <p>Husky Oil China</p> <p>Iberdrola </p> <p>IFAO</p> <p>Imperial Oil </p> <p>Indian Oil Corporation (IOC)</p> <p>Industrial-Nanotech Inc</p> <p>InnerArmor</p> <p>Inpex</p> <p>Insituform</p> <p>Interoil</p> <p>Jindal Group</p> <p>KasTransOil (KTO)</p> <p>KaziMunaiGas (KMG)</p> <p>KaziTransGas</p> <p><span class="xn-person">Kinder Morgan</span></p> <p>Kinder Morgan Energy Partners L.P.</p> <p>Korea Gas Corporation </p> <p>L&amp;T Hydrocarbon&#39;s Upstream Business Group</p> <p>La Valley Industries</p> <p>Larsen &amp; Toubro (L&amp;T)</p> <p>Liquefied Natural Gas (LNG) Ltd </p> <p>LukArco</p> <p>Lukoil </p> <p>Magistralni Naftoprovody Druzhba</p> <p>Marathon Oil</p> <p>Marin Matteknik</p> <p>McConnell Dowell </p> <p>McDermott International</p> <p>Mitsui Group</p> <p>MOL </p> <p>Murphy Oil </p> <p>Myanmar Oil and Gas Enterprise (MOGE)</p> <p>N.V. Gasunie</p> <p>Naftogaz</p> <p>National Grid</p> <p>National Iranian Oil Company</p> <p>National Oil Company (NOC)</p> <p>National Petroleum Construction Company (NPCC)</p> <p>Natural Gas Pipeline Company of America</p> <p>Nautronix</p> <p>Net4Gas</p> <p>Nigerian National Petroleum Corporation (NNPC)</p> <p>Nord Stream AG</p> <p>NuStar Energy L.P.</p> <p>Occidental Petroleum Corporation</p> <p>Oil and Gas Development Company Ltd (OGDCL)</p> <p>Oil and Natural Gas Corporation Ltd (ONGC)</p> <p>Oil India Ltd</p> <p>OMK</p> <p>OMV </p> <p>ONEOK Partners L.P.</p> <p>Pacific Gas and Electric (PG&amp;E)</p> <p>Panhandle Energy</p> <p>Pembina Pipeline Corporation</p> <p>Penspen</p> <p>Pertamina Gas</p> <p>Pertomina PT </p> <p>Perusahaan Gas Negara (PGN).</p> <p>Perusahaan Listrik Negara </p> <p>PeterGaz</p> <p>Petrobras</p> <p>PetroChina</p> <p>Petrofrac</p> <p>Petroleam Nasional Berhad (Petronas)</p> <p>Petroleos de Venezuela S.A. (PDVSA)</p> <p>Petroleos Mexicanos (PEMEX)</p> <p>Petroleum Equipment Assembly and Metal Structure (PUC MS)</p> <p>Petroleus de <span class="xn-location">Mozambique</span> ( Petromac)</p> <p>Petroline</p> <p>Petroterminal de <span class="xn-location">Panama</span> (PTP)</p> <p>Petrovietnam Construction (PVC) </p> <p>Petrovietnam Gas Corporation (PV Gas)</p> <p>PGNiG</p> <p>Pipeline Machinery International</p> <p>Pipelines and Products Marketing Company Limited (PPMCL)</p> <p>PipeSak Inc</p> <p>Pivdenni Magistralni Naftoprovody</p> <p>Plains All American Pipelines L.P</p> <p>Powerblanket</p> <p>Provident Energy Ltd</p> <p>Prydniprovski Magistralni Naftoprovody</p> <p>Prydniprovsky Main Pipeline Company</p> <p>PTT Public Company</p> <p>PTTEP International</p> <p><span class="xn-person">Punj Lloyd</span></p> <p>QinetiQ</p> <p>Ramboll UK Limited</p> <p>Reliance Industries</p> <p>Repsol </p> <p>Rolls-Royce plc</p> <p>Rosneft </p> <p><span class="xn-person">Royal Dutch Shell</span> (Shell)</p> <p>Ruhrgaz </p> <p>RWE </p> <p>Saipem</p> <p>Salzgitter Mannesmann International</p> <p>Santos </p> <p>Saudi Aramco</p> <p>SeaFlex Ltd</p> <p>Seirmax</p> <p>Senex Energy</p> <p>Shell Chemicals</p> <p>Shell Oil Company</p> <p>Shell Pipeline Company LP</p> <p>Sino Turkmenistan Gas Pipe Corporation</p> <p>Sinopec</p> <p>Skalica </p> <p>Snam Rete Gas </p> <p>Socotherm SPA</p> <p>Sonatrach </p> <p>South Australian Gas Company</p> <p>South Oil Company of Iraq (SOC)</p> <p>Southern LNG Company, L.L.C</p> <p>Southern Natural Gas Company, L.L.C</p> <p>Southern Union Company</p> <p>Spectra Energy</p> <p>Srbijagas </p> <p>Statoil</p> <p>Sub-One Technology</p> <p>Subsea 7</p> <p>Sumitomo Corporation</p> <p>Suncor Energy </p> <p>Surat Gladstone Pipeline Pty Ltd </p> <p>SURF Subsea Inc</p> <p>T.D. Williamson UK </p> <p>Takreer </p> <p>Talisman Energy </p> <p>Tarahumara Pipeline</p> <p>Targa Resources</p> <p>TC Pipelines LP</p> <p>Technip </p> <p>Tengizchevroil (TCO)</p> <p>Texas Intrastate Pipeline Group</p> <p>The Royal Bank of Scotland</p> <p>TIGF</p> <p>Total S.A.</p> <p>Trans Adriatic Pipeline AG</p> <p>TransCanada Corporation</p> <p>Transgaz </p> <p>Transneft</p> <p>Transpetro</p> <p>Transportadora de Gas del Norte (TGN)</p> <p>Transportadora de Gas del Sur (TGS)</p> <p>Ukrtransgaz</p> <p>Ukrtransnafta</p> <p>Valero Energy</p> <p>Vico </p> <p>Wintershall Holding</p> <p>WOESA Consortium (Pty) Ltd.</p> <p><span class="xn-person">Worley Parsons</span></p> <p>Wyoming Interstate Company, L.L.C</p> <b>Government Agencies and Other Organisations Mentioned in This Report <p /></b>Abu Dhabi Water and Electricity Authority <p>Algerian Gas and Electricity Regulatory Commission</p> <p>Association of South East Asian Nations (ASEAN)</p> <p>Canadian Energy Pipeline Association (CEPA)</p> <p>Canadian Standards Association (CSA)</p> <p>Cedigaz</p> <p>Central Intelligence Agency CIA</p> <p>Electricity Trust of South Australia </p> <p>Energy Information Administration (EIA)</p> <p>European Energy Programme for Recovery</p> <p>European Union (EU)</p> <p>Federal Energy Regulatory Commission (FERC)</p> <p>Federal Minister of Natural Resources</p> <p>Federal Ministry of Mines and Power</p> <p>Federa</p> <p><b>To order </b><b>this report:<a href="http://www.reportlinker.com/ci02330/Logistics-and-Freight.html#utm_source=prnewswire&amp;utm_medium=pr&amp;utm_campaign=Logistics_and_Freight" target="_blank">Logistics and Freight Industry</a>: </b><a href="http://www.reportlinker.com/p0802473/The-Oil--Gas-Pipelines-Market-Analysis-2012-2022.html#utm_source=prnewswire&amp;utm_medium=pr&amp;utm_campaign=Logistics_and_Freight" target="_blank">The Oil &amp; Gas Pipelines Market Analysis 2012-2022</a></p> <p>More  <a href="http://www.reportlinker.com/" target="_blank">Market Research Report</a></p> <p>Check our  <a href="http://www.reportlinker.com/news/" target="_blank">Industry Analysis and Insights</a></p> <p>Nicolas Bombourg<br/>Reportlinker<br/>Email: <a href="mailto:nicolasbombourg@reportlinker.com">nicolasbombourg@reportlinker.com</a><br/>US: (805)652-2626<br/>Intl: +1 805-652-2626</p> <p> </p> <p>SOURCE Reportlinker</p> </div> <img alt="" src="http://rt.prnewswire.com/rt.gif?NewsItemId=SP13285&amp;Transmission_Id=201205240647PR_NEWS_USPR_____SP13285&amp;DateId=20120524" style="border:0px; width:1px; height:1px;"/> The 20 Leading Companies in Shale Gas 2012: Competitive Landscape Analysis http://www.einpresswire.com/article/801075-the-20-leading-companies-in-shale-gas-2012-competitive-landscape-analysis http://www.einpresswire.com/article/801075-the-20-leading-companies-in-shale-gas-2012-competitive-landscape-analysis Wed, 23 May 2012 10:15:50 +0000 <div class="xn-newslines"> <h1 class="xn-hedline">The 20 Leading Companies in Shale Gas 2012: Competitive Landscape Analysis</h1> <p class="xn-distributor">PR Newswire</p> </div> <div class="xn-content"> <p><span class="xn-location">NEW YORK</span>, <span class="xn-chron">May 23, 2012</span> /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:</p> <p><b><a href="http://www.reportlinker.com/p0801505/The-20-Leading-Companies-in-Shale-Gas-2012-Competitive-Landscape-Analysis.html#utm_source=prnewswire&amp;utm_medium=pr&amp;utm_campaign=Oil_and_Gas_energy" target="_blank">The 20 Leading Companies in Shale Gas 2012: Competitive Landscape Analysis</a></b></p> <p>http://www.reportlinker.com/p0801505/The-20-Leading-Companies-in-Shale-Gas-2012-Competitive-Landscape-Analysis.html#utm_source=prnewswire&amp;utm_medium=pr&amp;utm_campaign=Oil_and_Gas_energy</p> <p><b>Report Details</b></p> <p>Over the last five years, shale gas has become a major new source of natural gas supply to theUS market, the largest gas market in the world. Over this time, both gas production and capital investment into shale development have grown considerably, bring this market once dominated by small private companies into the global spotlight. </p> <p>Currently the North American gas market is seeing a period of substantial oversupply as booming production coupled with unmatched demand leave a glut of gas on the market. As constraints in the natural gas market become increasingly restrictive, competitive positioning becomes ever more vital for further business development.</p> <p>This report examines the positioning of the major players in the market by creating a market share analysis of the 20 largest companies by capital expenditure on shale gas in 2011. The leading companies are compared by market share, shale plays, shale gas acreage, proportion of their business focused on shale gas, and the expected change in expenditure from 2011 to 2012. A forecast for 2012 expenditure on shale gas development is also made, introducing new players to the top spending group as the better positioned companies show their advantages. A SWOT analysis of each of the companies is also included, providing a short to mid term outlook for each of the leading 20 companies. </p> <p>The major producing shale plays are also analysed in terms of break even cost, initial production rates and liquids showing. This analysis is then used to calculate the prospects of each company depending on where they operate and the extent of their acreage.</p> <p>This information is provided at a critical time in the brief history of shale gas as record low natural gas prices in North America put pressure on the economical development of resources. The report provides an unbiased and clear indication of which companies are in the most advantageous position going forward. </p> <p><b>Unique Selling Points</b></p> <p>• A competitive analysis of the leading twenty shale gas companies, comparing and ranking capital expenditure and acreage positioning• Market share data and analysis of the top 20 shale gas companies based on capital expenditure on shale gas development in 2011 and expected expenditure for 2012• Capital expenditure and operational data verified through direct consultation with the leading companies• Data and analysis of shale gas acreage positions of the top 20 shale gas companies• A SWOT analysis illustrating the strengths, weaknesses, opportunities and threats to each of the leading 20 shale gas companies• 104 tables, charts and graphs analysing and comparing each of the leading companies and their position in the shale gas market• An indication of how much of the top 20 companies&#39; business is focused on the shale gas industry• Analysis of which companies are likely to increase, decrease or maintain spending over the next year• A comprehensive overview of the most important trends in the shale gas market, shaping the decisions of the major companies• A PEST analysis of the shale gas market, covering the critical political, economical, social and technological issues influencing companies in the shale gas market• A comparison of the major North American shale plays by break even cost, initial production rates and liquids content </p> <p><b>Methodology</b></p> <p>This report has been compiled by combining information obtained from a wide and rich mixture of primary and secondary research sources, producing a broad industry overview. Visiongain directly contacted the top companies in the shale gas market, liaising to confirm capital expenditure data and operational information in order to underpin market share calculations and analysis. The study also draws on a broad and diverse range of official corporate announcements and presentations, media reports, policy documents, industry statements and consultation as a basis for calculating the market share and analysing the direction of the shale gas market in 2012. </p> <p>Visiongain considers that this methodology results in an accurate, objective mixture of data collection and analysis.</p> <b>Why you should buy The 20 Leading Companies in Shale Gas 2012: Competitive Landscape Analysis <p /></b>• You will be able to directly compare the largest companies operating in the shale gas industry and develop an idea of who is more competitively placed going forward <p>• You will be provided with market share data based on capital expenditure on shale gas development in 2011 as well as a forecast for expected expenditure in 2012, introducing new companies to the leading spenders</p> <p>• You can study the size of the acreage each of the leading companies holds and in which shale plays they are operating</p> <p>• You can read a SWOT analysis illustrating the strengths, weaknesses, opportunities and threats of the leading 20 shale gas companies</p> <p>• You are provided with 104 tables, charts and graphs analysing and comparing each of the leading companies and their position in the shale gas market</p> <p>• You will receive analysis of which companies are likely to increase, decrease or maintain spending over the next year with a short term outlook</p> <p>• You will understand the most important trends in the shale gas market and see how they are shaping the decisions of the major companies</p> <p>• You will find a PEST analysis of the shale gas market, covering the critical political, economical, social and technological issues influencing the future of the companies in the shale gas market</p> <p>• You can directly compare the most important aspects of the major North American shale plays, seeing which plays offer the best returns</p> <b>What is the structure of the report? <p /></b>Chapter 1 provides an executive summary of the report, concisely outlining the current state of the shale gas market, the scope of the report and the methodology. <p>Chapter 2 offers an introduction to the shale gas market by giving an overview of global shale resources, comparing the performance of major shale plays in North America and outlining the most pressing trends currently affecting the industry.</p> <p>Chapter 3 provides a competitive analysis of the top twenty companies by capital expenditure, market share, acreage, the importance of shale gas to the company and the types of company dominating the market.</p> <p>Chapter 4 analyses the top twenty shale gas companies in 2011 providing a capital expenditure market share for each company, as well as a forecast for 2012. Information on acreage and operations is included, as well as a SWOT analysis for each company. There is also analysis and market share forecasts for new major companies increasing their investment in the shale gas market in 2012.</p> <p>Chapter 5 offers a PEST analysis of the shale gas market analysis the critical political, economical, social and technological issues affecting the market.</p> <p>Chapter 6 provides a clear and succinct conclusion to the report summarising the major attributes required for a company to succeed in the shale gas market, offering insight into which companies are likely show the best performance.</p> <p>Chapter 7 is a glossary of terms and abbreviations used in the report.</p> <b>You can order this report today <p /></b>Anybody with an interest in the shale gas market should gain valuable information and insight from this new study by visiongain, which analyses one of the most exciting new elements of the gas industry. The shale gas market offers substantial business and investment opportunities and is set to become an increasingly important component of the energy sector in several key regions. <p>This visiongain energy report will be valuable both to those already involved in shale gas market and those wishing to enter the market in the future. Gain an understanding of how to tap into the potential of this market by ordering The 20 Leading Companies in Shale Gas 2012: Competitive Landscape Analysis </p> <p>Visiongain is a trading partner with the US Federal Government</p> <p>CCR Ref number: KD4R6  </p> <b>Table of Contents <p /></b>1. Executive Summary <p>1.1 The Shale Gas Market Overview</p> <p>1.2 Highlights of this Report </p> <p>1.3 The Scope of this Report</p> <p>1.4 Methodology</p> <p>1.5 The Leading Twenty Shale Gas Companies 2011</p> <p>2. Introduction to the Shale Gas Market2.1 Global Shale Gas Resources2.2 A Comparison of the Major North American Shale Gas Plays2.3 Trends in the Shale Gas Sector 2011-20122.3.1 Increasing Influence of Large Multi-National Companies2.3.2 Greater Operational Efficiency2.3.3 Increasing Shift of Capex to Unconventional Liquid Plays 2.3.4 High Oil Price and Low Gas Price </p> <p>3. Competitor Positioning in the Global Shale Gas Market</p> <p>3.1 The Leading Twenty Companies&#39; Market Share in the Global Shale Gas Market 2011 and 2012 Forecast</p> <p>3.2 The Change of Investment in the Shale Gas Market from 2011 to 2012</p> <p>3.3 Shale Gas Operations as a Percentage of Total Capital Expenditure</p> <p>3.4 Top Twenty Shale Gas Company North American Shale Gas Acreage Comparison</p> <p>3.5 Regional Shale Gas Investment Emphasis </p> <p>4. The Leading Twenty Companies in the Shale Gas Market4.1 Anadarko Petroleum Corporation4.1.1 Overview &amp; Shale Gas Operations4.1.2 SWOT Analysis4.1.3 Future Outlook4.2 BHP Billiton4.2.1 Overview &amp; Shale Gas Operations4.2.2 SWOT Analysis4.2.3 Future Outlook4.3 Chesapeake Energy Corporation4.3.1 Overview &amp; Shale Gas Operations4.3.2 SWOT Analysis4.3.3 Future Outlook4.4 Chevron Corporation4.4.1 Overview &amp; Shale Gas Operations4.4.2 SWOT Analysis4.4.3 Future Outlook4.5 CONSOL Energy Inc.4.5.1 Overview &amp; Shale Gas Operations4.5.2 SWOT Analysis4.5.3 Future Outlook4.6 Devon Energy Corporation4.6.1 Overview &amp; Shale Gas Operations4.6.2 SWOT Analysis4.6.3 Future Outlook4.7 Encana Corporation4.7.1 Overview &amp; Shale Gas Operations4.7.2 SWOT Analysis4.7.3 Future Outlook4.8 EOG Resources, Inc.4.8.1 Overview &amp; Shale Gas Operations4.8.2 SWOT Analysis4.8.3 Future Outlook4.9 EQT Corporation4.9.1 Overview &amp; Shale Gas Operations4.9.2 SWOT Analysis4.9.3 Future Outlook4.10 Exco Resources, Inc.4.10.1 Overview &amp; Shale Gas Operations4.10.2 SWOT Analysis4.10.3 Future Outlook4.11 ExxonMobil Corporation4.11.1 Overview &amp; Shale Gas Operations4.11.2 SWOT Analysis4.11.3 Future Outlook4.12 Marathon Oil Corporation4.12.1 Overview &amp; Shale Gas Operations4.12.2 SWOT Analysis4.12.3 Future Outlook4.13 Range Resources Corporation4.13.1 Overview &amp; Shale Gas Operations4.13.2 SWOT Analysis4.13.3 Future Outlook4.14 Reliance Industries Limited (RIL)4.14.1 Overview &amp; Shale Gas Operations4.14.2 SWOT Analysis4.14.3 Future Outlook4.15 <span class="xn-person">Royal Dutch</span> Shell4.15.1 Overview &amp; Shale Gas Operations4.15.2 SWOT Analysis4.15.3 Future Outlook4.16 Seneca Resources Corporation4.16.1 Overview &amp; Shale Gas Operations4.16.2 SWOT Analysis4.16.3 Future Outlook4.17 SM Energy Company4.17.1 Overview &amp; Shale Gas Operations4.17.2 SWOT Analysis4.17.3 Future Outlook4.18 Southwestern Energy Company4.18.1 Overview &amp; Shale Gas Operations4.18.2 SWOT Analysis4.18.3 Future Outlook4.19 Statoil4.19.1 Overview &amp; Shale Gas Operations4.19.2 SWOT Analysis4.19.3 Future Outlook4.20 Talisman Energy Inc.4.20.1 Overview &amp; Shale Gas Operations4.20.2 SWOT Analysis4.20.3 Future Outlook4.21 Other Shale Gas Companies Forecast to be more Prominent in 2012 </p> <p>5. PEST Analysis of the Shale Gas Market</p> <p>5.1 Political Factors Influencing the Shale Gas Market</p> <p>5.1.1 Energy Independence</p> <p>5.1.2 Reduction of Carbon Dioxide Emissions</p> <p>5.1.3 Moratoriums on Hydraulic Fracturing</p> <p>5.2 Economic Factors Influencing the Shale Gas Market</p> <p>5.2.1 Low US Gas Price</p> <p>5.2.2 Contractual and Leasing Obligations</p> <p>5.2.3 Job Creation and Taxes</p> <p>5.2.4 Reserve Replacement Strategy</p> <p>5.3 Social Factors Influencing the Shale Gas Market</p> <p>5.3.1 Public Opposition</p> <p>5.3.2 Water Resource Use</p> <p>5.4 Technological Factors Influencing the Shale Gas Market</p> <p>5.4.1 Innovation to Tackle New Shale Formations </p> <p>5.4.2 Improving Operational Efficiency</p> <p>5.4.3 Improved Computer and Simulation Technology</p> <p>6. Conclusions6.1 The Shale Gas Market Overview6.2 The Best Positioned Companies in the Shale Gas Market 6.3 Concluding Observations </p> <p>7. Glossary</p> <b>List of Tables <p /></b>Table 1.1 The Leading Twenty Companies in the Shale Gas Market 2011 (Rank, Capex $m, Market Share %) <p>Table 2.1 A Comparison of Major North American Shale Plays by Area (sq. miles), Depth (ft), Thickness (ft), EUR (bcf/well), and Recoverable Resources (tcf)</p> <p>Table 3.1 The Leading Twenty Shale Gas Companies in the Shale Gas Market 2011 (Rank, Capex $m, Market Share %)</p> <p>Table 3.2 Companies Increasing, Maintaining and Decreasing Expenditure on Shale Gas from 2011 to 2012</p> <p>Table 3.3 North American Net Shale Gas Acreage Position of the Leading Twenty Shale Gas Companies (Rank, Acres)</p> <p>Table 4.1 Anadarko Overview (Capex $m, % Budget on Shale Gas, Market Share 2011 %, Market Rank 2011, Market Share Forecast 2012 %)</p> <p>Table 4.2 Anadarko Shale Gas Acreage 2011 (Acres)</p> <p>Table 4.3 SWOT Analysis of Anadarko </p> <p>Table 4.4 BHP Billiton Overview (Capex $m, % Budget on Shale Gas, Market Share 2011 %, Market Rank 2011, Market Share Forecast 2012 %)</p> <p>Table 4.5 BHP Billiton Shale Gas Acreage 2011 (Acres)</p> <p>Table 4.6 SWOT Analysis of BHP Billiton</p> <p>Table 4.7 Chesapeake Overview (Capex $m, % Budget on Shale Gas, Market Share 2011 %, Market Rank 2011, Market Share Forecast 2012 %)</p> <p>Table 4.8 Chesapeake Shale Gas Acreage 2012 (Acres)</p> <p>Table 4.9 SWOT Analysis of Chesapeake</p> <p>Table 4.10 Chevron Overview (Capex $m, % Budget on Shale Gas, Market Share 2011 %, Market Rank 2011, Market Share Forecast 2012 %)</p> <p>Table 4.11 Chevron North American Shale Gas Acreage 2011 (Acres)</p> <p>Table 4.12 SWOT Analysis of Chevron</p> <p>Table 4.13 CONSOL Overview (Capex $m, % Budget on Shale Gas, Market Share 2011 %, Market Rank 2011, Market Share Forecast 2012 %)</p> <p>Table 4.14 CONSOL Shale Gas Acreage 2011 (Acres)</p> <p>Table 4.15 SWOT Analysis of CONSOL</p> <p>Table 4.16 Devon Overview (Capex $m, % Budget on Shale Gas, Market Share 2011 %, Market Rank 2011, Market Share Forecast 2012 %)</p> <p>Table 4.17 Devon Shale Gas Acreage 2012 (Acres)</p> <p>Table 4.18 SWOT Analysis of Devon</p> <p>Table 4.19 Encana Overview (Capex $m, % Budget on Shale Gas, Market Share 2011 %, Market Rank 2011, Market Share Forecast 2012 %)</p> <p>Table 4.20 Encana Shale Gas Acreage 2011 (Acres)</p> <p>Table 4.21 SWOT Analysis of Encana</p> <p>Table 4.22 EOG Resources Overview (Capex $m, % Budget on Shale Gas, Market Share 2011 %, Market Rank 2011, Market Share Forecast 2012 %)</p> <p>Table 4.23 EOG Resources Shale Gas Acreage 2011 (Acres)</p> <p>Table 4.24 SWOT Analysis of EOG Resources</p> <p>Table 4.25 EQT Corporation Overview (Capex $m, % Budget on Shale Gas, Market Share 2011 %, Market Rank 2011, Market Share Forecast 2012 %)</p> <p>Table 4.26 EQT Corporation Shale Gas Acreage 2011 (Acres)</p> <p>Table 4.27 SWOT Analysis of EQT Corporation</p> <p>Table 4.28 Exco Resources Overview (Capex $m, % Budget on Shale Gas, Market Share 2011 %, Market Rank 2011, Market Share Forecast 2012 %)</p> <p>Table 4.29 Exco Resources Shale Gas Acreage 2011 (Acres)</p> <p>Table 4.30 SWOT Analysis of Exco Resources</p> <p>Table 4.31 ExxonMobil Overview (Capex $m, % Budget on Shale Gas, Market Share 2011 %, Market Rank 2011, Market Share Forecast 2012 %)</p> <p>Table 4.32 ExxonMobil North American Shale Gas Acreage 2011 (Acres)</p> <p>Table 4.33 SWOT Analysis of ExxonMobil</p> <p>Table 4.34 Marathon Oil Overview (Capex $m, % Budget on Shale Gas, Market Share 2011 %, Market Rank 2011, Market Share Forecast 2012 %)</p> <p>Table 4.35 Marathon Oil Shale Gas Acreage 2011 (Acres)</p> <p>Table 4.36 SWOT Analysis of Marathon Oil</p> <p>Table 4.37 Range Resources Overview (Capex $m, % Budget on Shale Gas, Market Share 2011 %, Market Rank 2011, Market Share Forecast 2012 %)</p> <p>Table 4.38 Range Resources Shale Gas Acreage 2011 (Acres)</p> <p>Table 4.39 SWOT Analysis of Range Resources</p> <p>Table 4.40 Reliance Industries Overview (Capex $m, % Budget on Shale Gas, Market Share 2011 %, Market Rank 2011, Market Share Forecast 2012 %)</p> <p>Table 4.41 Reliance Industries Shale Gas Acreage 2011 (Acres)</p> <p>Table 4.42 SWOT Analysis of Reliance Industries</p> <p>Table 4.43 Royal Dutch Shell Overview (Capex $m, % Budget on Shale Gas, Market Share 2011 %, Market Rank 2011, Market Share Forecast 2012 %)</p> <p>Table 4.44 Royal Dutch Shell North American Shale Gas Acreage 2012 (Acres)</p> <p>Table 4.45 SWOT Analysis of <span class="xn-person">Royal Dutch Shell</span></p> <p>Table 4.46 Seneca Resources Overview (Capex $m, % Budget on Shale Gas, Market Share 2011 %, Market Rank 2011, Market Share Forecast 2012 %)</p> <p>Table 4.47 Seneca Resources Shale Gas Acreage 2011 (Acres)</p> <p>Table 4.48 SWOT Analysis of Seneca Resources</p> <p>Table 4.49 SM Energy Overview (Capex $m, % Budget on Shale Gas, Market Share 2011 %, Market Rank 2011, Market Share Forecast 2012 %)</p> <p>Table 4.50 SM Energy Shale Gas Acreage 2011 (Acres)</p> <p>Table 4.51 SWOT Analysis of SM Energy</p> <p>Table 4.52 Southwestern Energy Overview (Capex $m, % Budget on Shale Gas, Market Share 2011 %, Market Rank 2011, Market Share Forecast 2012 %)</p> <p>Table 4.53 Southwestern Energy Shale Gas Acreage 2011 (Acres)</p> <p>Table 4.54 SWOT Analysis of Southwestern Energy</p> <p>Table 4.55 Statoil Overview (Capex $m, % Budget on Shale Gas, Market Share 2011 %, Market Rank 2011, Market Share Forecast 2012 %)</p> <p>Table 4.56 Statoil Shale Gas Acreage 2011 (Acres)</p> <p>Table 4.57 SWOT Analysis of Statoil</p> <p>Table 4.58 Talisman Overview (Capex $m, % Budget on Shale Gas, Market Share 2011 %, Market Rank 2011, Market Share Forecast 2012 %)</p> <p>Table 4.59 Talisman Shale Gas Acreage 2011 (Acres)</p> <p>Table 4.60 SWOT Analysis of Talisman</p> <p>Table 5.1 PEST Analysis of the Shale Gas Market </p> <b>List of Figures <p /></b>Figure 2.1 Technically Recoverable Global Shale Gas Resource Estimates by Region (tcf) <p>Figure 2.2 North American Shale Plays (As of <span class="xn-chron">May 2011</span>)</p> <p>Figure 2.3 North American Shale Gas Production Forecast by Play 2010-2040 (tcf)</p> <p>Figure 2.4 Initial Production of Major US and Canadian Shale Plays (Mcf/d)</p> <p>Figure 2.5 Average Break Even Cost of Various Major Shale Plays ($/MMBtu)</p> <p>Figure 2.6 Percentage of US based Land Rigs Used for Gas or Oil, and Oil-to-Gas Price Ratio 2000-2011 (% Share)</p> <p>Figure 2.7 Historical and Forecast Natural Gas Price 2011-2013 ($/MMBtu)</p> <p>Figure 3.1 The Leading Twenty Shale Gas Companies in the Shale Gas Market 2011 (% Share)</p> <p>Figure 3.2 The Leading 25 Shale Gas Companies in the Shale Gas Market Share Forecast 2012 (%)</p> <p>Figure 3.3 Expected Percentage Change of Leading Company Spending on Shale Gas from 2011 to 2012 (%)</p> <p>Figure 3.4 Percent of Leading Company Total Business Operations in Shale Gas 2011 (%)</p> <p>Figure 3.5 Regional Distribution of Shale Gas Investment 2011 (%)</p> <p>Figure 4.1 Anadarko Shale Gas Market Share 2011 &amp; Market Share Forecast 2012 (%)</p> <p>Figure 4.2 BHP Billiton Shale Gas Market Share 2011 &amp; Market Share Forecast 2012 (%)</p> <p>Figure 4.3 Chesapeake Shale Gas Market Share 2011 &amp; Market Share Forecast 2012 (%)</p> <p>Figure 4.4 Chevron Shale Gas Market Share 2011 &amp; Market Share Forecast 2012 (%)</p> <p>Figure 4.5 CONSOL Shale Gas Market Share 2011 &amp; Market Share Forecast 2012 (%)</p> <p>Figure 4.6 Devon Shale Gas Market Share 2011 &amp; Market Share Forecast 2012 (%)</p> <p>Figure 4.7 Encana Shale Gas Market Share 2011 &amp; Market Share Forecast 2012 (%)</p> <p>Figure 4.8 EOG Resources Shale Gas Market Share 2011 &amp; Market Share Forecast 2012 (%)</p> <p>Figure 4.9 EQT Corporation Shale Gas Market Share 2011 &amp; Market Share Forecast 2012 (%)</p> <p>Figure 4.10 Exco Resources Shale Gas Market Share 2011 &amp; Market Share Forecast 2012 (%)</p> <p>Figure 4.11 ExxonMobil Shale Gas Market Share 2011 &amp; Market Share Forecast 2012 (%)</p> <p>Figure 4.12 Marathon Oil Shale Gas Market Share 2011 &amp; Market Share Forecast 2012 (%)</p> <p>Figure 4.13 Range Resources Shale Gas Market Share 2011 &amp; Market Share Forecast 2012 (%)</p> <p>Figure 4.14 Reliance Industries Shale Gas Market Share 2011 &amp; Market Share Forecast 2012 (%)</p> <p>Figure 4.15 Royal Dutch Shell Shale Gas Market Share 2011 &amp; Market Share Forecast 2012 (%)</p> <p>Figure 4.16 Seneca Resources Shale Gas Market Share 2011 &amp; Market Share Forecast 2012 (%)</p> <p>Figure 4.17 SM Energy Shale Gas Market Share 2011 &amp; Market Share Forecast 2012 (%)</p> <p>Figure 4.18 Southwestern Energy Shale Gas Market Share 2011 &amp; Market Share Forecast 2012 (%)</p> <p>Figure 4.19 Statoil Shale Gas Market Share 2011 &amp; Market Share Forecast 2012 (%)</p> <p>Figure 4.20 Talisman Shale Gas Market Share 2011 &amp; Market Share Forecast 2012 (%)</p> <p>Figure 4.21 Apache Shale Gas Market Share Forecast 2012 (%)</p> <p>Figure 4.22 Hess Shale Gas Market Share Forecast 2012 (%)</p> <p>Figure 4.23 Noble Shale Gas Market Share Forecast 2012 (%)</p> <p>Figure 4.24 Sinopec Shale Gas Market Share Forecast 2012 (%)</p> <p>Figure 4.25 Total Shale Gas Market Share Forecast 2012 (%)</p> <p>Figure 5.1 2011 Spot Natural Gas Prices in North America ($/MMBtu) </p> <b>Companies Listed <p /></b>Advanced Resources International (ARI) <p>Anadarko Petroleum Corporation</p> <p>Apache Corporation</p> <p>Atlas Energy</p> <p>Baker Hughes</p> <p>Beach Energy</p> <p>BG Group</p> <p>BHP Billiton</p> <p>BP</p> <p>Cabot Oil &amp; Gas Corporation</p> <p>Carrizo Oil &amp; Gas</p> <p>Chesapeake Energy Corporation</p> <p>Chesapeake Midstream Partners</p> <p>Chevron Corporation</p> <p>China National Offshore Oil Corporation Limited (CNOOC)</p> <p>China National Petroleum Corporation (CNPC)</p> <p>ConocoPhillips</p> <p>CONSOL Energy Inc.</p> <p>Cordillera Energy Partners</p> <p>Devon Energy Corporation</p> <p>Dominion Resources</p> <p>East Resources</p> <p>Encana Corporation</p> <p>EnerVest</p> <p>EOG Resources, Inc.</p> <p>EQT Corporation</p> <p>Exco Resources, Inc.</p> <p>ExxonMobil Corporation</p> <p>Hess Corporation</p> <p>Hilcorp Resources</p> <p>Korea Gas Corporation (Kogas)</p> <p>Korea National Oil Company (KNOC)</p> <p>Lewis Energy</p> <p>Marathon Oil Corporation</p> <p>Mitsubishi</p> <p>Mitsui</p> <p>Naftogaz</p> <p>National Fuel Gas Company</p> <p>Nexen</p> <p>Noble Energy</p> <p>PetroChina</p> <p>Petrohawk</p> <p>PGNiG</p> <p>Pioneer Natural Resources</p> <p>Plains Exploration &amp; Production Company</p> <p>Range Resources Corporation</p> <p>Reliance Industries Limited (RIL)</p> <p><span class="xn-person">Royal Dutch Shell</span> (Shell)</p> <p>San Leon Energy</p> <p>Sasol</p> <p>Seneca Resources </p> <p>Sinopec Group</p> <p>SM Energy</p> <p>Southwestern Energy Company</p> <p>Statoil</p> <p>Talisman Energy Inc.</p> <p>TGGT Holdings LLC</p> <p>Total SA</p> <p>Ultra Petroleum</p> <p>XTO Energy</p> <b>Government Agencies and Other Organisations Mentioned in This Report <p /></b>American Association of Petroleum Geologists (AAPG) <p>Australia Securities Exchange</p> <p>Bombay Stock Exchange</p> <p>Commonwealth of Independent States (CIS)</p> <p>Energy Information Administration (EIA)</p> <p>Johannesburg Stock Exchange</p> <p>London Stock Exchange</p> <p>National Stock Exchange of India</p> <p>New York Stock Exchange</p> <p>Oslo Stock Exchange</p> <p>Toronto Stock Exchange</p> <p>US Department of Energy (DOE) </p> <p><b>To order this report:<a href="http://www.reportlinker.com/ci01331/Oil-and-Gas-energy.html#utm_source=prnewswire&amp;utm_medium=pr&amp;utm_campaign=Oil_and_Gas_energy" target="_blank">Oil and Gas energy Industry</a>: </b><a href="http://www.reportlinker.com/p0801505/The-20-Leading-Companies-in-Shale-Gas-2012-Competitive-Landscape-Analysis.html#utm_source=prnewswire&amp;utm_medium=pr&amp;utm_campaign=Oil_and_Gas_energy" target="_blank">The 20 Leading Companies in Shale Gas 2012: Competitive Landscape Analysis</a></p> <p>More  <a href="http://www.reportlinker.com/" target="_blank">Market Research Report</a></p> <p>Check our  <a href="http://www.reportlinker.com/news/" target="_blank">Industry Analysis and Insights</a></p> <p>Nicolas Bombourg<br/>Reportlinker<br/>Email: <a href="mailto:nicolasbombourg@reportlinker.com">nicolasbombourg@reportlinker.com</a><br/>US: (805)652-2626<br/>Intl: +1 805-652-2626</p> <p>SOURCE Reportlinker</p> </div> <img alt="" src="http://rt.prnewswire.com/rt.gif?NewsItemId=SP12430&amp;Transmission_Id=201205230615PR_NEWS_USPR_____SP12430&amp;DateId=20120523" style="border:0px; width:1px; height:1px;"/> Legal Talk Network Releases Sensei Enterprises' Digital Detectives Podcast: "The BP Oil Spill Case and Large Volume E-Discovery" http://www.einpresswire.com/article/798427-legal-talk-network-releases-sensei-enterprises-digital-detectives-podcast-the-bp-oil-spill-case-and-large-volume-e-discovery http://www.einpresswire.com/article/798427-legal-talk-network-releases-sensei-enterprises-digital-detectives-podcast-the-bp-oil-spill-case-and-large-volume-e-discovery Mon, 21 May 2012 14:00:25 +0000 <div class="xn-newslines"> <h1 class="xn-hedline">Legal Talk Network Releases Sensei Enterprises&#39; Digital Detectives Podcast: &quot;The BP Oil Spill Case and Large Volume E-Discovery&quot;</h1> <p class="xn-distributor">PR Newswire</p> </div> <div class="xn-content"> <p /> <p /> <p /> <p><span class="xn-location">FAIRFAX, Va.</span>, <span class="xn-chron">May 21, 2012</span> /PRNewswire/ -- Legal Talk Network has released the latest edition of Sensei Enterprises&#39; <i>Digital Detectives </i>podcast, entitled &#34;The BP Oil Spill Case and Large Volume E-Discovery.&#34;  Podcasters Sharon D. Nelson, Esq. and <span class="xn-person">John W. Simek</span>, Sensei&#39;s President and Vice President, welcome Joe Mulenex, the Regional Technical Director for Avansic, who assisted the discovery team for the Plaintiffs Steering Committee in the BP Oil Spill case.</p> <p>Mr. Mulenex talks about the sheer volume of data in the case, the importance of project management in handling large amounts of data, the challenges of such cases and his favorite takeaway from the experience.</p> <p>Ms. Nelson commented, &#34;We all watched the BP oil spill story online and on TV but you never heard much about the electronic discovery aspect of the case – we were thrilled to have the opportunity to interview Joe and get an insider&#39;s view of what it is like to deal with ESI in a mega-case like this one.&#34; </p> <p>You can listen to the podcast at: <a href="http://legaltalknetwork.com/podcasts/digital-detectives/2012/05/the-bp-oil-spill-case-and-large-volume-e-discovery/" target="_blank">http://legaltalknetwork.com/podcasts/digital-detectives/2012/05/the-bp-oil-spill-case-and-large-volume-e-discovery/</a> </p> <p><b>ABOUT SENSEI ENTERPRISES, INC. </b></p> <p>Sensei Enterprises, Inc. is a nationally known digital forensics, security and information technology company. Based in <span class="xn-location">Fairfax, Virginia</span>, Sensei combines legal expertise with high-level technical certifications to serve the technology needs of the legal and corporate communities. Sensei&#39;s principals are the co-authors of <i>The Electronic Evidence and E-Discovery Handbook </i>(2006, ABA) and speak and present on electronic evidence, information security and legal technology throughout the country. To learn more, please visit <a href="http://www.senseient.com/" target="_blank">www.senseient.com</a>. </p> <p>For more information about this release, call <span class="xn-person">Sharon D. Nelson, Esq.</span> at 703-359-0700.</p> <p>SOURCE Sensei Enterprises, Inc.</p> </div> <img alt="" src="http://rt.prnewswire.com/rt.gif?NewsItemId=PH10670&amp;Transmission_Id=201205211000PR_NEWS_USPR_____PH10670&amp;DateId=20120521" style="border:0px; width:1px; height:1px;"/> BP and Sempra U.S. Gas & Power Announce Plans to Jointly Develop Hawaii Wind Farm http://www.einpresswire.com/article/796533-bp-and-sempra-u-s-gas-power-announce-plans-to-jointly-develop-hawaii-wind-farm http://www.einpresswire.com/article/796533-bp-and-sempra-u-s-gas-power-announce-plans-to-jointly-develop-hawaii-wind-farm Fri, 18 May 2012 08:10:00 +0000 </div> </div> <div class="mContainer"> <div> <div id="genericArticle"> <div class="grey mBot5"> Release date: 17 May 2012 </div> <div class="clearAll"></div> <div class="mBot15"></div> <div class="greyBold"> </div> <div class="clearAll"></div> <div class="mBot15"></div> <div class="clearAll"></div> <div class="mBot15"></div> <a NAME='7274023'></a> <div class="clearAll"></div> <div class="mBot15"></div> <div class="lightGreenBold"> <div class="clearAll"></div> <div class="mBot10"></div> <span class="grey"> BP and its partner Sempra US Gas & Power announced plans to jointly develop the Auwahi Wind farm in Hawaii. This is the fifth project developed under a strategic partnership between the two companies that includes more than 1,000 megawatts (MW) of wind generating capacity in operation or under construction. <br /> <br /> Located in southeastern Maui, the 21-MW wind farm will utilize eight Siemens wind turbines to generate enough renewable power for approximately 10,000 average Maui homes. Initial construction activities are underway and full mobilization at the site is slated to begin by the end of the second quarter 2012. The project will employ about 150 workers during the peak of construction and is expected to be in commercial operation by year-end 2012. The balance of plant contract has been awarded to RMT WindConnect. <br /> <br /> Sempra U.S. Gas & Power will continue leading the development of Auwahi Wind and operate the project once construction is complete. <br /> <br /> “We are pleased to have the opportunity to further expand our highly successful strategic partnership with BP Wind Energy while helping Hawaii advance one step closer to its renewable energy goals,” said Jim Sahagian, vice president of renewables for Sempra U.S. Gas & Power. “Our companies share a commitment to building and operating the Auwahi Wind farm in a way that reflects Maui’s commitment to environmental protection. We look forward to providing a stable supply of clean power to the region and becoming a long-term partner with the local community.” </span> </div> <div class="clearAll"></div> <div class="mBot20"></div> <div class="clearAll"></div> <div class="mBot20"></div> <a NAME='7274024'></a> <div class="clearAll"></div> <div class="mBot15"></div> <div class="lightGreenBold"> <div class="clearAll"></div> <div class="mBot10"></div> <span class="grey"> “BP is once again proud to partner with Sempra U.S. Gas & Power to grow our investment in the renewable power sector to produce essential sources of cost-competitive energy to our customers,” said John Graham, president and CEO, BP Wind Energy. “Today marks an important milestone as this is BP’s first venture in delivering clean energy to the people of Hawaii.” <br /> <br /> The entire power output from the wind farm has been sold under a long-term power purchase agreement to the Maui Electric Company. This new source of locally-produced wind power helps Hawaii reach its clean energy goal to secure 40 percent of its electricity from renewable sources by 2030. <br /> <br /> In a first for the BP and Sempra U.S. Gas and Power strategic partnership, the Auwahi Wind farm will utilize a battery storage unit capable of storing in excess of 4 megawatt hours of renewable power. This stored electricity will help to regulate the intermittent wind power, providing a valuable source of grid stability for Maui Electric Company. <br /> <br /> In January 2012, BP and Sempra U.S. Gas & Power announced an expansion of their strategic relationship by jointly investing more than $1 billion to build 560 MW of wind power. In Kansas, the companies are building the 419 MW Flat Ridge 2 Wind Farm and are finalizing joint venture agreements for a 51 MW expansion project. In Pennsylvania, the 141 MW Mehoopany Wind Farm is in construction. Both the Kansas and Pennsylvania wind farms are expected to be in commercial operation by year-end 2012 and will be the largest wind projects ever constructed in their respective states. The companies are also equal partners on the 200 MW Fowler Ridge 2 Wind Farm in Indiana and the 250 MW Cedar Creek 2 Wind Farm located in northeastern Colorado. </span> </div> <div class="clearAll"></div> <div class="mBot20"></div> <div class="clearAll"></div> <div class="mBot20"></div> <a NAME='7274025'></a> <div class="clearAll"></div> <div class="mBot15"></div> <div class="lightGreenBold"> <h2 class="lightGreenBold"> About Sempra U.S. Gas & Power </h2> <div class="clearAll"></div> <div class="mBot10"></div> <span class="grey"> Sempra U.S. Gas &amp; Power, LLC is a leading developer of renewable energy and natural gas solutions.  The company operates solar, wind and natural gas power plants that generate enough electricity for nearly 1 million homes, along with natural gas storage and pipelines, and distribution utilities. Sempra U.S. Gas &amp; Power is a subsidiary of <a href="http://sempra.com/" target="_blank">Sempra Energy</a> (NYSE: SRE), a Fortune 500 energy services holding company with 2010 revenues of $9 billion.  The Sempra Energy companies&rsquo; nearly 17,500 employees serve about 31 million consumers worldwide.  For more information, visit <a href="http://www.SempraUSGP.com" target="_blank">www.SempraUSGP.com</a>. </span> </div> <div class="clearAll"></div> <div class="mBot20"></div> <div class="clearAll"></div> <div class="mBot20"></div> <a NAME='7274026'></a> <div class="clearAll"></div> <div class="mBot15"></div> <div class="lightGreenBold"> <h2 class="lightGreenBold"> About BP </h2> <div class="clearAll"></div> <div class="mBot10"></div> <span class="grey"> BP is one of the world's largest energy companies.  In the US, BP has approximately $52 billion in assets and employs some 23,000 staff.  The company's main businesses are exploration and production of oil and gas; refining, manufacturing and marketing of oil products and petrochemicals; and transportation and marketing of natural gas.  With growing businesses in wind power and advanced biofuels, BP Alternative Energy has invested around $7 billion in low carbon energy development since 2005, $4 billion of that in the US.  <br /> <br /> BP Wind Energy is a principal owner and operator of wind power facilities with interests in 13 wind farms.  BP Wind Energy has a gross generating capacity of 1,955 MW – enough electricity to power over 586,000 average American homes. For more information, visit the company&rsquo;s Web site at <a href="http://www.bpalternativenergy.com" target="_blank">http://www.bpalternativenergy.com</a>. </span> </div> <div class="clearAll"></div> <div class="mBot20"></div> <div class="clearAll"></div> <div class="mBot20"></div> <div class="greyBold mBot15"> Further information: </div> <div class="greyBold"> Name: <span class="grey">BP Press Office</span><br /> Phone :<span class="grey"> 44 (0)20 746 4076</span><br /> </div> <div class="clearAll"></div> <div class="mBot20"></div> <div class="greyBold"> Name: <span class="grey">Danielle Jones</span><br /> Location:<span class="grey"> BPTT press office</span><br /> Phone :<span class="grey"> +1 868 497 4747</span><br /> </div> <div class="clearAll"></div> <div class="mBot20"></div> <div class="greyBold"> Name: <span class="grey">Luis Araujo</span><br /> Phone :<span class="grey"> +1 868 623 2862 ext 5355</span><br /> </div> <div class="clearAll"></div> <div class="mBot20"></div> </div> </div> </div> <div class="rContainer180"> <div class="pageNavContainer"> <div class="pNavInner"> <div> <h3 class="lightGreenBold">In this section</h3> </div> <div> </div> <a style="line-height:normal; clear:right;" href='http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=7074887' >BP Orders Four New Platform Support Vessels to Help Deliver North Sea Strategy<br/></a> <div> <div style="font-family: Arial; color: #666666; font-size: 8pt; font-weight: bold; line-height:normal; margin-top:5px;">BP and Sempra U.S. Gas & Power Announce Plans to Jointly Develop Hawaii Wind Farm </div> </div> <div> </div> <a style="line-height:normal; clear:right;" href='http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=7074805' >BP and the Government of Trinidad and Tobago Sign Production Sharing Contracts for New Deepwater Blocks<br/></a> <div> </div> <a style="line-height:normal; clear:right;" href='http://www.bp.com/extendedgenericarticle.do?categoryId=2012968&contentId=7074445' >BP First Quarter 2012 Results<br/></a> <div> </div> <a style="line-height:normal; clear:right;" href='http://www.bp.com/extendedgenericarticle.do?categoryId=2012968&contentId=7074288' >First Quarter 2012 Results (Stock Exchange Announcement)<br/></a> <a href="http://www.bp.com/articlelisting.do?categoryId=2012968&contentId=2006635" class="green">More</a> </div> <div class="clearAll"></div> </div> </div> </div> </div> BP And Sempra U.S. Gas & Power Announce Plans To Jointly Develop Hawaii Wind Farm http://www.einpresswire.com/article/795800-bp-and-sempra-u-s-gas-power-announce-plans-to-jointly-develop-hawaii-wind-farm http://www.einpresswire.com/article/795800-bp-and-sempra-u-s-gas-power-announce-plans-to-jointly-develop-hawaii-wind-farm Thu, 17 May 2012 15:00:00 +0000 <div class="xn-newslines"> <h1 class="xn-hedline">BP And Sempra U.S. Gas &amp; Power Announce Plans To Jointly Develop Hawaii Wind Farm</h1> <p class="xn-distributor">PR Newswire</p> </div> <div class="xn-content"> <p><span class="xn-location">SAN DIEGO</span>, <span class="xn-chron">May 17, 2012</span> /PRNewswire/ -- Sempra U.S. Gas &amp; Power and BP Wind Energy today announced plans to jointly develop the Auwahi Wind farm in Hawaii.  This is the fifth project developed under a strategic partnership between the two companies that includes more than 1,000 megawatts (MW) of wind generating capacity in operation or under construction.</p> <p>(Logo: <a href="http://photos.prnewswire.com/prnh/20120103/LA29138LOGO" target="_blank">http://photos.prnewswire.com/prnh/20120103/LA29138LOGO</a><img src="http://photos.prnewswire.com/prnthumb/20120103/LA29138LOGO" align="right"/>)</p> <p>Located in southeastern <span class="xn-location">Maui</span>, the 21-MW wind farm will utilize eight Siemens wind turbines to generate enough renewable power for approximately 10,000 average <span class="xn-location">Maui</span> homes.  Initial construction activities are underway and full mobilization at the site is slated to begin by the end of the second quarter 2012.  The project will employ about 150 workers during the peak of construction and is expected to be in commercial operation by year-end 2012.  The balance of plant contract has been awarded to RMT WindConnect.  </p> <p>Sempra U.S. Gas &amp; Power will continue leading the development of Auwahi Wind and operate the project once construction is complete. </p> <p>&#34;We are pleased to have the opportunity to further expand our highly successful strategic partnership with BP Wind Energy while helping <span class="xn-location">Hawaii</span> advance one step closer to its renewable energy goals,&#34; said <span class="xn-person">Jim Sahagian</span>, vice president of renewables for Sempra U.S. Gas &amp; Power.  &#34;Our companies share a commitment to building and operating the Auwahi Wind farm in a way that reflects <span class="xn-location">Maui</span>&#39;s commitment to environmental protection.  We look forward to providing a stable supply of clean power to the region and becoming a long-term partner with the local community.&#34;   </p> <p>&#34;BP is once again proud to partner with Sempra U.S. Gas &amp; Power to grow our investment in the renewable power sector to produce essential sources of cost-competitive energy to our customers,&#34; said <span class="xn-person">John Graham</span>, president and CEO, BP Wind Energy.  &#34;Today marks an important milestone as this is BP&#39;s first venture in delivering clean energy to the people of <span class="xn-location">Hawaii</span>.&#34; </p> <p>The entire power output from the wind farm has been sold under a long-term power purchase agreement to the Maui Electric Company.  This new source of locally-produced wind power helps <span class="xn-location">Hawaii</span> reach its clean energy goal to secure 40 percent of its electricity from renewable sources by 2030.  </p> <p>In a first for the BP and Sempra U.S. Gas &amp; Power strategic partnership, the Auwahi Wind farm will utilize a battery storage unit capable of storing in excess of 4 megawatt hours of renewable power.  This stored electricity will help to regulate the intermittent wind power, providing a valuable source of grid stability for Maui Electric Company.</p> <p>In <span class="xn-chron">January 2012</span>, BP and Sempra U.S. Gas &amp; Power announced an expansion of their strategic relationship by jointly investing more than <span class="xn-money">$1 billion</span> to build 560 MW of wind power.  In Kansas, the companies are building the 419 MW Flat Ridge 2 Wind Farm and are finalizing joint venture agreements for a 51 MW expansion project. In <span class="xn-location">Pennsylvania</span>, the 141 MW Mehoopany Wind Farm is in construction.  Both the <span class="xn-location">Kansas</span> and <span class="xn-location">Pennsylvania</span> wind farms are expected to be in commercial operation by year-end 2012 and will be the largest wind projects ever constructed in their respective states.  The companies are also equal partners on the 200 MW Fowler Ridge 2 Wind Farm in <span class="xn-location">Indiana</span> and the 250 MW Cedar Creek 2 Wind Farm located in northeastern <span class="xn-location">Colorado</span>. </p> <p><b>About Sempra U.S. Gas &amp; Power<br/></b>Sempra U.S. Gas &amp; Power, LLC is a leading developer of renewable energy and natural gas solutions.  The company operates solar, wind and natural gas power plants that generate enough electricity for nearly 1 million homes, along with natural gas storage and pipelines, and distribution utilities. Sempra U.S. Gas &amp; Power is a subsidiary of <a href="http://sempra.com/" target="_blank">Sempra Energy</a> (NYSE: SRE), a Fortune 500 energy services holding company with 2011 revenues of <span class="xn-money">$10 billion</span>.  The Sempra Energy companies&#39; nearly 17,500 employees serve about 31 million consumers worldwide.  For more information, visit <a href="http://www.semprausgp.com/" target="_blank">www.SempraUSGP.com</a>. </p> <p><b>About BP<br/></b>BP is one of the world&#39;s largest energy companies.  In the US, BP has approximately <span class="xn-money">$52 billion</span> in assets and employs some 23,000 staff.  The company&#39;s main businesses are exploration and production of oil and gas; refining, manufacturing and marketing of oil products and petrochemicals; and transportation and marketing of natural gas.  With growing businesses in wind power and advanced biofuels, BP Alternative Energy has invested around <span class="xn-money">$7 billion</span> in low carbon energy development since 2005, <span class="xn-money">$4 billion</span> of that in the US.  </p> <p>BP Wind Energy is a principal owner and operator of wind power facilities with interests in 13 wind farms.  BP Wind Energy has a gross generating capacity of 1,955 MW – enough electricity to power over 586,000 average American homes. For more information, visit the company&#39;s Web site at <a href="http://www.bpalternativenergy.com/" target="_blank">http://www.bpalternativenergy.com</a>.</p> <p><b>For Sempra Energy Investors <br/></b><i>This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  These statements can be identified by words like &#34;believes,&#34; &#34;expects,&#34; &#34;anticipates,&#34; &#34;intends,&#34; &#34;plans,&#34; &#34;estimates,&#34; &#34;may,&#34; &#34;will,&#34; &#34;would,&#34; &#34;could,&#34; &#34;should,&#34; &#34;potential,&#34; &#34;target,&#34; &#34;outlook&#34;, &#34;depends,&#34; &#34;pursue&#34; or similar expressions, or discussions of guidance, strategies, plans, goals, initiatives, objectives or intentions.  Forward-looking statements are not guarantees of performance.  They involve risks, uncertainties and assumptions.  Future results may differ materially from those expressed in the forward-looking statements.  Forward-looking statements are necessarily based upon various assumptions involving judgments with respect to the future and other risks, including, among others: local, regional, national and international economic, competitive, political, legislative and regulatory conditions and developments; actions by the California Public Utilities Commission, California State Legislature, Federal Energy Regulatory Commission, U.S. Department of Energy, Nuclear Regulatory Commission, California Energy Commission, California Air Resources Board, and other regulatory, governmental and environmental bodies in <span class="xn-location">the United States</span> and other countries where the company does business; capital market conditions, including the availability of credit and the liquidity of investments; inflation, interest and exchange rates; the impact of benchmark interest rates, generally the U.S. Treasury bond and Moody&#39;s A-rated utility bond yields, on the <span class="xn-location">California</span> utilities&#39; cost of capital; the timing and success of business development efforts and construction, maintenance and capital projects, including risks inherent in the ability to obtain, and the timing of the granting of, permits, licenses, certificates and other authorizations; energy markets, including the timing and extent of changes and volatility in commodity prices; the availability of electric power, natural gas and liquefied natural gas, including disruptions caused by failures in the North American transmission grid, pipeline explosions and equipment failures; weather conditions, natural disasters, catastrophic accidents, and conservation efforts; risks inherent in nuclear power generation and radioactive materials storage, including catastrophic release of such materials; risks posed by decisions and actions of third parties who control the operations of investments in which the company does not have a controlling interest; wars, terrorist attacks and cyber security threats; business, regulatory, environmental and legal decisions and requirements; expropriation of assets by foreign governments and title and other property disputes; the status of deregulation of retail natural gas and electricity delivery; the inability or determination not to enter into long-term supply and sales agreements or long-term firm capacity agreements; the resolution of litigation; and other uncertainties, all of which are difficult to predict and many of which are beyond the control of the company.  These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the Securities and Exchange Commission.  These reports are available through the EDGAR system free-of-charge on the SEC&#39;s website, </i><a href="http://www.sec.gov/" target="_blank"><i>www.sec.gov</i></a><i>, and on the company&#39;s website at </i><a href="http://www.sempra.com/" target="_blank"><i>www.sempra.com</i></a><i>.</i></p> <p><i>These forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to update or revise these forecasts or projections or other forward-looking statements, whether as a result of new information, future events or otherwise.</i></p> <p><i>Sempra U.S. Gas &amp; Power, LLC is not the same company as the utility, San Diego Gas &amp; Electric (SDG&amp;E) or Southern California Gas Company (SoCalGas), and Sempra U.S. Gas &amp; Power, LLC is not regulated by the California Public Utilities Commission.</i></p> <p> </p> <div> <table style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; BORDER-COLLAPSE: collapse; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" id="convertedTable" border="1" cellspacing="0" bordercolor="#000000" cellpadding="0"><tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><span class="prnews_span">Media Contacts:</span></span></p> </td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><span class="prnews_span">Scott Crider</span> </span></p> </td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><span class="prnews_span">Sarah Howell</span> </span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Sempra U.S. Gas &amp; Power </span></p> </td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><span class="prnews_span">BP </span></span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(877) 855-7887 </span></p> </td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><span class="prnews_span">(202) 457-6575</span></span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><a class="prnews_a" href="mailto:media@SempraUSGP.com" target="_blank">media@SempraUSGP.com</a> </span></p> </td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span class="prnews_span"><a class="prnews_a" href="mailto:Howes8@bp.com" target="_blank">Howes8@bp.com</a> </span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Financial Contact: </span></p> </td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Scott Tomayko/Victor Vilaplana </span></p> </td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Sempra Energy</span></p> </td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(877) 736-7727</span></p> </td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><a class="prnews_a" href="mailto:investor@sempra.com" target="_blank">investor@sempra.com</a></span></p> </td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr></table></div> <p> </p> <p>SOURCE Sempra U.S. Gas &amp; Power</p> </div> <img alt="" src="http://rt.prnewswire.com/rt.gif?NewsItemId=LA09326&amp;Transmission_Id=201205171100PR_NEWS_USPR_____LA09326&amp;DateId=20120517" style="border:0px; width:1px; height:1px;"/> Global Lubricating Oils and Greases Industry http://www.einpresswire.com/article/794328-global-lubricating-oils-and-greases-industry http://www.einpresswire.com/article/794328-global-lubricating-oils-and-greases-industry Wed, 16 May 2012 15:32:09 +0000 <div class="xn-newslines"> <h1 class="xn-hedline">Global Lubricating Oils and Greases Industry</h1> <p class="xn-distributor">PR Newswire</p> </div> <div class="xn-content"> <p><span class="xn-location">NEW YORK</span>, <span class="xn-chron">May 16, 2012</span> /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:</p> <p><a href="http://www.reportlinker.com/p0459179/Global-Lubricating-Oils-and--Greases-Industry.html">Global Lubricating Oils and Greases Industry</a></p> <p>http://www.reportlinker.com/p0459179/Global-Lubricating-Oils-and--Greases-Industry.html#utm_source=prnewswire&amp;utm_medium=pr&amp;utm_campaign=Oil_and_G</p> <p>This report analyzes the worldwide markets for Lubricating Oils and Greases in Millions Gallons by the following Product Segments: Automotive Lubricants (Engine Oils &amp; Transmission &amp; Hydraulic Fluids), Industrial Lubricants (General Industrial Oils, Industrial Engine Oils, Marine Lubricants, Metal Working Oils, &amp; Process Oils), and Greases. The report provides separate comprehensive analytics for the US, <span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span>, <span class="xn-location">Middle East</span>, and <span class="xn-location">Latin America</span>. Annual estimates and forecasts are provided for the period 2009 through 2017. Also, a seven-year historic analysis is provided for these markets. The report profiles 371 companies including many key and niche players such as BP PLC, BP Lubricants <span class="xn-location">USA</span>, Inc., Castrol BP Petco Ltd., Chevron Corporation., ConocoPhillips Lubricants, ExxonMobil Corporation., Esso S.A.F., Fuchs Petrolub AG, Idemitsu Kosan Co., Ltd., Indian Oil Corporation Ltd., LUKOIL Oil Company, JX Nippon Oil &amp; Energy Corporation, Petroleos de Venezuela S.A., PT PERTAMINA, PT Wiraswasta Gemilang, Repsol YPF SA, Shell Plc, Shell, Sinopec Corporation, Total S.A, and Valvoline. Market data and analytics are derived from primary and secondary research. Company profiles are primarily based upon search engine sources in the public domain.</p> <p>I. INTRODUCTION, METHODOLOGY &amp; PRODUCT DEFINITIONS</p> <p>Study Reliability and Reporting Limitations I-1</p> <p>Disclaimers I-2</p> <p>Data Interpretation &amp; Reporting Level I-3</p> <p>Quantitative Techniques &amp; Analytics I-3</p> <p>Product Definitions and Scope of Study I-3</p> <p>Product Segments I-3</p> <p>Automotive Lubricants I-4</p> <p>Engine Oil I-4</p> <p>Transmission &amp; Hydraulic Fluids I-4</p> <p>Industrial Lubricants I-4</p> <p>General Industrial Oil I-4</p> <p>Industrial Engine Oils I-5</p> <p>Marine Lubricants I-5</p> <p>Metal Working Oils I-5</p> <p>Process Oils I-5</p> <p>Greases I-5</p> <p>II. EXECUTIVE SUMMARY</p> <p>1. INDUSTRY OVERVIEW II-1</p> <p>Lubricating Oils and Greases Industry - A Brief Summary II-1</p> <p>The Industry - In Hands of Regulatory Bodies II-2</p> <p>Industrial Vs Automotive Lubricants II-2</p> <p>Global Market Scenario II-2</p> <p>2007-2009 Recession Wields Its Iron Fist on the Lubricating</p> <p>Oils and Greases Market II-2</p> <p>Recovery in Year 2010 &amp; beyond II-4</p> <p>Will Growth in Europe Be Held Hostage by the Debt Crisis? II-5</p> <p>New Economy to Witness the Emergence of a Changed Industry</p> <p>Landscape II-5</p> <p>Key Trends &amp; Issues II-6</p> <p>Consumption to Witness Volumetric Decline in the Medium to</p> <p>Long Term II-6</p> <p><span class="xn-location">Asia-Pacific</span> &amp; <span class="xn-location">Latin America</span>: Potential Laden Markets II-7</p> <p>Synthetic Lubricants Rides High On the Growing Demand for</p> <p>Durable Lubricants II-8</p> <p>Synthetic Oils: Growth Hinges Upon Consumer Education II-8</p> <p>Table 1: World Market for Synthetic Lubricants: Breakdown</p> <p>of Volume Sales (In Million Gallons) by Geographic Markets</p> <p>for Years 2009 through 2017 (includes corresponding</p> <p>Graph/Chart) II-9</p> <p>Biodegradable Lubricants - A New Technology Trend II-10</p> <p>Advantages II-10</p> <p>Limitations II-10</p> <p>Self-Lubricating Systems - Threat to Conventional</p> <p>Lubricating Oils and Greases II-10</p> <p>Group II &amp; Group III Base Oils to Grow at the Expense of</p> <p>Group 1 Oils II-11</p> <p>Table 2: World Lubricants Market (2005, 2010 &amp; 2015):</p> <p>Percentage Breakdown of Volume Demand for Base Oils by</p> <p>Category - Group I, Group II/II+, Naphthenic, Group III/GTL,</p> <p>and Non-Petroleum (includes corresponding Graph/Chart) II-11</p> <p>Key Determinants of Base Oil Supply II-12</p> <p>Lubricant Oil Additives - Redefining the Market II-12</p> <p>Key Statistics II-13</p> <p>Table 3: World Lubricants Market (2009): Per Capita</p> <p>Consumption of Lubricants in Kilogram/Annum (includes</p> <p>corresponding Graph/Chart) II-13</p> <p>Table 4: World Grease Market (2008): Grease Production in</p> <p>Million Pounds by Region/Country - <span class="xn-location">North America</span>, China,</p> <p><span class="xn-location">Europe</span>, <span class="xn-location">Japan</span>, India, and Others (includes corresponding</p> <p>Graph/Chart) II-13</p> <p>Table 5: World Grease Market (2008): Percentage Breakdown of</p> <p>Volume Production by Type - Lithium Soap Grease, Calcium Soap</p> <p>Grease, Aluminum Soap Grease, Polyurea, and Other Greases</p> <p>(includes corresponding Graph/Chart) II-14</p> <p>2. NOTEWORTHY MARKET TRENDS, GROWTH DRIVERS &amp; ISSUES II-15</p> <p>Innovation: The Need of the Hour to Meet New Consumer Needs II-15</p> <p>Do-It-For-Me Scores Over Do-It-Yourself II-15</p> <p>Unexpected Rise in Demand Creates Supply Shortage for Marine</p> <p>Lubricants II-15</p> <p>Online Sales - The New Frontier for Lubricants Industry II-16</p> <p>Recycling - Making a Killing Over Virgin Oils II-16</p> <p>Other Factors Affecting Consumption II-16</p> <p>3. COMPETITIVE STRUCTURE II-17</p> <p>Geographic Thrust II-17</p> <p>Table 6: Global Lubricants Market (2010): Percentage Market</p> <p>Share Breakdown of Leading Players (includes corresponding</p> <p>Graph/Chart) II-17</p> <p>Regional Players Ruling the Roost II-17</p> <p>Competitive Analysis of Specific Geographic Regions II-18</p> <p>Entry Barriers II-18</p> <p>Competitive Factors II-18</p> <p>Pricing II-19</p> <p>Lube World - Where Reducing Prices Might Boomerang II-19</p> <p>Consumer Behavior towards Pricing II-19</p> <p>Too Many Brands in the Market Pressurize Distributors and</p> <p>Retailers II-19</p> <p>Brand Equity and Marketing Philosophy II-19</p> <p>Distribution Network Plays a Pivotal Role II-20</p> <p>Product Differentiation - Value of the Brand II-20</p> <p>Service Differentiation II-20</p> <p>Corporate Philosophy II-20</p> <p>Specific Competitive Strategies for Greasing Success II-21</p> <p>Myths &amp; Realities of Lube Industry II-21</p> <p>Size does Matter II-21</p> <p>Myth II-21</p> <p>Reality II-21</p> <p>Competitive Pressures II-21</p> <p>Myth II-21</p> <p>Reality II-22</p> <p>Unsustainable Market Share II-22</p> <p>Myth II-22</p> <p>Reality II-22</p> <p>A Historic Review II-22</p> <p>Industry Composition in the 1990s II-22</p> <p>Automotive II-23</p> <p>Industrial II-23</p> <p>Marine Lubricants II-24</p> <p>Table 7: Top of the Mind Share for Castrol Brand Worldwide- </p> <p>Mid 90s (includes corresponding Graph/Chart) II-24</p> <p>4. PRODUCT OVERVIEW II-25</p> <p>Composition of Lubricants II-25</p> <p>Base Stock II-25</p> <p>Additives II-26</p> <p>A Peek into the Classification of Additives Based on</p> <p>Functionality II-26</p> <p>Functions of Lubricant Oils II-27</p> <p>Important Terminology Used in Lubricating Oils and Greases</p> <p>Industry II-28</p> <p>Classification of Lubricating Oils and Greases II-28</p> <p>Automotive Lubricants II-28</p> <p>Specifications, Testing, and Legislative Directions for</p> <p>Lubricants II-29</p> <p>Classification of Automotive Oils II-29</p> <p>Engine Oil II-29</p> <p>Transmission &amp; Hydraulic Fluids II-30</p> <p>Industrial Lubricants II-30</p> <p>Advantages Offered by Lubricants in Industrial Applications II-31</p> <p>Types of Industrial Fluids (Based on their Physico- Chemical</p> <p>Composition) II-31</p> <p>Micro-dispersions II-31</p> <p>Fluid Lubricants II-31</p> <p>Solid Lubricants II-31</p> <p>EP Lubricants II-31</p> <p>Composition of Industrial Lubricants II-31</p> <p>Classification of Industrial Lubricants II-32</p> <p>General Industrial Oil II-32</p> <p>Hydraulic Oil II-32</p> <p>Fire Resistant Fluids II-33</p> <p>Industrial Gear Oil II-33</p> <p>Others II-34</p> <p>Industrial Engine Oils II-34</p> <p>Marine Lubricants II-34</p> <p>Metalworking Fluids II-34</p> <p>Classes of Metalworking Fluids (Based on their Composition) II-34</p> <p>Straight Oil II-34</p> <p>Soluble Oils II-34</p> <p>Semi-Synthetic Fluids II-34</p> <p>Synthetic Fluids II-34</p> <p>Process Oils II-35</p> <p>Electrical Oils II-35</p> <p>Functions of Electrical Oils II-35</p> <p>The Regulatory Authorities Involved II-35</p> <p>White Oils II-35</p> <p>Ink Oils II-35</p> <p>Synthetic Oils II-36</p> <p>Medical Devices - A Highly Specialized Application for</p> <p>Synthetic Lubricants II-36</p> <p>Advantages of Synthetic Lubricants II-36</p> <p>Synthetic Lubricant Industry II-37</p> <p>Tier - I II-37</p> <p>Tier - II II-37</p> <p>Tier - III II-37</p> <p>Greases II-38</p> <p>Composition of Greases II-38</p> <p>5. END-USE ANALYSIS II-39</p> <p>Retail and Commercial Market II-39</p> <p>Retail II-39</p> <p>Commercial II-39</p> <p>Industrial Market II-39</p> <p>Factory Fill - An Important Distribution Channel II-40</p> <p>Storage of Lubricants in Industrial Environment - A Crucial</p> <p>Factor II-40</p> <p>Marine and Railroad II-40</p> <p>Consumption Patterns in Lubricants Industry II-40</p> <p>Lubricants Industry Vs Economy - Missing Positive Correlation II-41</p> <p>Drift in Industrial Activity Towards Non-Manufacturing Sectors II-41</p> <p>Technology Impacting the Industry II-41</p> <p>Lower Crankcase Capacities II-41</p> <p>Tighter Engine Designs - Tightening the Grip Over Lubes Usage II-41</p> <p>Drain Intervals - Draining the Prospects for Lubes II-42</p> <p>6. TECHNOLOGICAL TRENDS II-43</p> <p>New Technologies: Making Significant In-Roads II-43</p> <p>Chevron&#39;s Gusher Technology Sets the Tone for Lubricant Markets II-43</p> <p>Chevron&#39;s Isomerization Process for Motor Oils II-43</p> <p>Substitutes II-43</p> <p>Niod-2: Anti-Friction Powder II-43</p> <p>Lubricating Oil from Rice Bran Oil II-43</p> <p>DuPont&#39;s Soybean Based Hydraulic Fluids II-44</p> <p>Recycling Lubes: Undoing the Done II-44</p> <p>Oil Refresher Model 1 System - A Novel Way to Recycle Waste Oil II-45</p> <p>CANPED - An Advanced Recycling Technology for Waste</p> <p>Lubricating Oils II-45</p> <p>Firebird&#39;s Recycling Process for Waste Oils II-45</p> <p>Greenways Recycling System II-45</p> <p>7. PRODUCT INNOVATIONS/INTRODUCTIONS II-46</p> <p>ExxonMobil Introduces Mobilgear SHC XMP Series II-46</p> <p>Bharat Petroleum Introduces New Technology in Collaboration</p> <p>with Indian Institute of Science II-46</p> <p>ITW Chemtronics Introduces CircuitWorks® Silicone Free Heat</p> <p>Sink Grease and CircuitWorks® Boron Nitride Heat Sink Grease II-46</p> <p>Chevron Unveils Clarity Lubricants II-47</p> <p>BASF to Introduce Plurasafe® H2O-KTM and Plurasafe® InsureTM II-47</p> <p>Boca Bearings Launches New Range of Coatings and Lubricants II-47</p> <p>Lubrication Engineers Unveils Wirelife Low Tox Penetrating</p> <p>Lubricant II-48</p> <p>Lubriserv Introduces Ultra-High Performance Product Range II-48</p> <p>Lubrication Engineers Launches WirelifeTM Almasol® Syn Coating</p> <p>Lubricant II-49</p> <p>Afton Chemical to Introduce New Passenger Car Motor Oil II-50</p> <p>Toyota Indonesia Launches Toyota Motor Oil II-50</p> <p>ExxonMobil Industries Lubricants Introduces SHC XMP Series II-50</p> <p>Greubb Introduces Ziedex 4040 II-51</p> <p>Savita Chemicals Unveils SAVSOL Ultra 4T 125CC Plus II-51</p> <p>Total Nigeria Introduces Total Quartz 4*4 II-51</p> <p>Gulf Oil Unveils Gulf Cargo Power 15W-40 II-51</p> <p>Emirates National Oil Company Rolls Out Vulcan Green and</p> <p>Protec Green II-52</p> <p>Lubrizol Unveils HyperZDPTM System II-52</p> <p>Shell Lubricants Unveils New Range of Lubricants II-52</p> <p>Eterna Oil &amp;Gas Introduces 2T Lubricating Oil II-52</p> <p>Shell Lubricants Launches Modified Shell Rotella Energized</p> <p>Protection Range II-52</p> <p>Chevron Products Introduces Delo® 710 LE SAE 20W-40 II-53</p> <p>Gulf Oil Corporation Unveils New Engine Oils II-53</p> <p>Indian Institute of Chemical Technology to Unveil Synthetic</p> <p>Aviation Lubricant Oil II-53</p> <p>Dennison Lubricants Expands Product Portfolio with EcoPower</p> <p>Motor Oil of Safety-Kleen II-54</p> <p>Parman Lubricants and Safety-<span class="xn-person">Kleen Enters</span> into Dealer Agreement II-54</p> <p>Amsoil&#39;s Amsoil Synthetic Low-Viscosity Automatic Transmission</p> <p>Fluid II-54</p> <p>Afton Chemical Unveils New Cold Flow Improvers II-55</p> <p>Cybertech Enterprise&#39;s RED LINE Lubricants Range II-55</p> <p>BASF Construction Chemicals Unveils Meyco BSG Excluder Grease II-55</p> <p>Ronn Motor Launches Ronnzoil Hydraulic Fluids II-56</p> <p>Willall Racing Unveils Willal Racing Transmission Fluid</p> <p>Victory Specification II-56</p> <p>ExxonMobil Introduces Mobil Vactra Oil Series II-56</p> <p>McLube Unveils McLube MoS2-505 II-57</p> <p>Contralube Launches Contralube770 II-57</p> <p>CAM2 International Introduces Blue Blood Racing Motor Oils and</p> <p>Gear Oil II-58</p> <p>Kluber Lubrication Launches Kluberspeed Range of Greases II-58</p> <p>SKF Group Unveils SKF High Load Wide Temperature Bearing</p> <p>Grease LGWM 2 II-59</p> <p>Suzuki Introduces Marine 4-Stroke Outboard Engine Oils II-59</p> <p>ExxonMobil Malaysia, ExxonMobil Borneo and Esso Malaysia</p> <p>Launch New Mobil Super Lubricants II-59</p> <p>Lubrication Engineers Unveils MONOLEC® Landfill and Natural</p> <p>Gas Ranges of Engine Oils II-60</p> <p>AOG Aviation Spares Launches AquaShield Marine Grease II-60</p> <p>Raj Petro Specialities Introduces ONWO Lubricant II-61</p> <p>Castrol Offshore Introduces BioTac OG II-61</p> <p>Shell Lubricants Unveils Shell Lubematch, Shell Lubecoach,</p> <p>Shell Lubeanalyst, and Shell Lubeadvisor II-61</p> <p>Shell Lubricants Introduces Shell Tellus EE II-62</p> <p>ExxonMobil Egypt Introduces Connitex E and Knitting Oil T22 II-62</p> <p>Kluber Lubrication Rolls Out Allplex FMG-Z US II-62</p> <p>ExxonMobil Introduces Mobil DTE 10 Excel Series II-63</p> <p>Chevron Products Company Rolls Out Delo 400 LE Synthetic SAE</p> <p>5W-40 II-63</p> <p>Gulf Oil Launches Gulf Pride 4T Plus 10W-30 II-63</p> <p>Amsoil Launches SAE 250 and SAE 190 Severe Gear Synthetic Gear</p> <p>Lubes II-63</p> <p>Shell Lubricants Launches Shell Spirax ASX R II-64</p> <p>ExxonMobil Aviation Lubricants Rolls Out Hyjet V II-64</p> <p>IndianOil Unveils SERVO World Class Lubricants II-65</p> <p>Total Introduces New &#39;Heewaal&#39; Lubricant II-65</p> <p>Aegean Introduces New Lubricant Line II-65</p> <p>AMC Introduces Biodegradable Hammer Oil II-65</p> <p>Petronas Forays into Japanese Lubricants Market II-65</p> <p>Conoil Launches New Lubricant, Quatro Gazol II-66</p> <p>Shell Malaysia Launches Helix Lubricants II-66</p> <p>Federal-Mogul Corporation Introduces a New Line of Additives</p> <p>and Lubricants II-66</p> <p>Anderol Launches FG Excel™ II-67</p> <p>ExxonMobil Aviation Lubricants Introduces Mobilgrease 33 II-67</p> <p>Indian Oil Ties Up with HMT to Introduce Co-Branded Lubricant II-68</p> <p>Shell Introduces New Diesel Engine Oil II-68</p> <p>Castrol India Unveils Magnatec II-68</p> <p>ExxonMobil Introduces Pegasus 1005 II-68</p> <p>Mobil Pegasus 1005 provide following benefits: II-68</p> <p>ExxonMobil Launches Mobil 1 High Mileage II-69</p> <p>Anderol Launches ROYCO 800 Series Lubricants II-69</p> <p>Shell Introduces New Synthetic Grease, Shell Stamina HDS II-69</p> <p>Kluber Lubrication Introduces Kluberfood NH1 87-703 Hygienic</p> <p>Grease II-69</p> <p>Old World Launches New Line of PEAK Lubricants II-70</p> <p>ITW ROCOL Introduces Accu-Lube LB-2000FM II-70</p> <p>Nanochem to Introduce NANOIL™ II-70</p> <p>Shell Lubricants Introduces Shell Cassida Fluid GLE II-70</p> <p>Petro-Canada Launches Purity FG with Microl II-71</p> <p>Castrol to Launch New CJ-4 Lubricants II-71</p> <p>8. RECENT INDUSTRY ACTIVITY II-72</p> <p>Illinois Tools Takes Over SOPUS&#39;s Car Care Business II-72</p> <p>ENOC Lubricants Signs Agreement with Galana Oil II-72</p> <p>Dytech Dynamic Fluid Technologies to Establish Oils and</p> <p>Lubricants Plant II-72</p> <p>Hyundai Engineering Enters into Deal with Takreer II-72</p> <p>Petro Diamond Japan and MC. Energy to Merge II-73</p> <p>FUCHS PETROLUB Takes Over Food Grade Lubricants Business of</p> <p>Shell International Petroleum II-73</p> <p>Industrial Distribution Group Acquires Alamo Iron Works II-73</p> <p>Kaman Industrial Technologies to Take Over Assets of Fawick de</p> <p>Mexico II-73</p> <p>ExxonMobil Signs Agreement with Caterpillar II-74</p> <p>Solutia Receives Approval for Skydrol PE-5 Hydraulic Fluid</p> <p>from Boeing II-74</p> <p>Cosmo Oil Signs Memorandum of Agreement with Hyundai Oilbank II-74</p> <p>PetroChina International Signs Agreement with Keppel Oil and</p> <p>Gas Services II-74</p> <p>Total Lubricants Canada Inks Agreement Canusa Automotive</p> <p>Warehousing II-75</p> <p>Aegean Marine Petroleum Network Partners with Gulf Oil Marine II-75</p> <p>LANXESS Commences Operations at New Facility II-75</p> <p>EPPCO Lubricants and Al Ghandi Auto Sign Agreement II-76</p> <p>Shell <span class="xn-person">India Enters</span> into Partnership with Reliance Industries II-76</p> <p>American Commercial Lines O&#39;Rourke Marine Services Ink Agreement II-76</p> <p>Finnish Neste Oil and Bahrain Forms Joint Venture Company II-76</p> <p>Torco Advanced Lubricants Partners with JC Motors II-76</p> <p>Holly Refining &amp; Marketing - Mid-Con Signs Agreement with Sunoco II-77</p> <p>JSC Gazprom Neft Acquires Chevron Global Energy&#39;s Oils and</p> <p>Lubricants Facility II-77</p> <p>Oxea Signs Agreement with ExxonMobil II-77</p> <p>Prista Oil Group Purchases Majority Interest in Bogdany Petrol II-78</p> <p>Lukoil Vagit Alekperov and OJSC Novolipetsk Metallurgical</p> <p>Combine Ink Agreement II-78</p> <p>Castrol India Enters into Partnership with Volkswagen Group</p> <p>Sales India II-78</p> <p>International Fuel Technology Signs Agreement with Tide Water Oil II-78</p> <p>United Fuel &amp; Energy Divests Propane Distribution Operations II-78</p> <p>Total Renews Agreements with Renault II-79</p> <p>Raj Petro Specialities to Expand High Speciality Lubricants</p> <p>Business II-79</p> <p>Saudi Aramco Lubricating Oil Refining and Jadwa Industrial</p> <p>Investment to Expand Yanbu Lube Oil Refinery II-79</p> <p>Shell Lubricants to Establish Blending Centers II-80</p> <p>Valvoline International Selects Prista Oil Group II-80</p> <p>Sealub Alliance Selects Prista Oil Group as Member II-80</p> <p>Calumet Speciality Products Partners Signs Multiyear</p> <p>Agreements with Houston Refining II-80</p> <p>Shenhua Ningxia Coal Group and Sale Branch of <span class="xn-person">Petro China</span></p> <p>Enter into Partnership II-81</p> <p>Rhein Chemie LOA (<span class="xn-location">Qingdao</span>) Establishes New Facility II-81</p> <p><span class="xn-person">Balmer Lawrie Enters</span> into Joint Venture with Pt Imani Wicaksana II-81</p> <p>Sinopec Signs Cooperation Agreement with Hin Leong Trading (Pte.) II-81</p> <p>Shell to Establish Lubricants Plant II-81</p> <p>Heritage-Crystal Clean to Foray into Used Oil Re-refining</p> <p>Business II-81</p> <p>Hino Trucks Signs New Cooperative Agreement with BP Lubricants</p> <p><span class="xn-location">USA</span> II-82</p> <p>Afton Chemical to Establish New Manufacturing Plant II-82</p> <p>Unioil Petroleum Philippines to Expand Lubricants Business II-82</p> <p>Sinopec Corp. Establishes Auto Research and Development Centre II-82</p> <p>BASF Enters into Partnership with Fabbrica Adesivi Resine II-82</p> <p>Sinopec Inks Strategic cooperation Agreement with Sinotruck II-83</p> <p>Safety-Kleen Inks Agreement with Superior Lubricants II-83</p> <p>Sukimi Lube (M) Sdn Bhd to Expand Lubricant Oil Business II-83</p> <p>Shell Royal/Dutch Group and Its Chinese Partner to Invest in</p> <p>Joint Venture Plants II-83</p> <p>LANXESS Commissions New Lubricant Oil Additives Plant II-83</p> <p>Zarubezhneft Expands Petroleum Products Business II-84</p> <p>Ciba Establishes Technical Services Center II-84</p> <p>Nippon Oil to Establish Wholly Owned Subsidiary and Liaison</p> <p>Office II-84</p> <p>Inner Mongolia Jinjiao Special Materials to Commence</p> <p>Operations of Biodiesel Facility II-84</p> <p>Graham Packaging to Shutdown Manufacturing Plant II-84</p> <p>Total Lubricants Canada Takes Over Lubricant Business of Ultramar II-85</p> <p>Shell Establishes Lubricants Blending Complex in <span class="xn-location">China</span> II-85</p> <p>Millers Oils Takes Over Falcon Lubricants II-85</p> <p>PTT Retail Business Takes Over Stake in Thai Lube Blending II-86</p> <p>Maxum Petroleum Acquires Mid-State Industrial Lubricants II-86</p> <p>Houghton International to Take Over with DA Stuart II-86</p> <p>Castrol and Qatar Fuel Sign Agreement II-86</p> <p>High Velocity Alternative Energy Acquires American Chemical</p> <p>Exchange II-87</p> <p>Total Lubricants North America Takes Over Lubricants <span class="xn-location">USA</span> II-87</p> <p>Ashland Acquires Hercules II-87</p> <p>SKF Snaps Up Cirval II-87</p> <p>Galp Energia Acquires Three Subsidiaries of ExxonMobil II-88</p> <p>Navis Capital Partners Purchases Majority Interest in Sah</p> <p>Petroleums II-88</p> <p>Nippon Oil Acquires Majority Stake in ItalSing Petroleum II-88</p> <p>FUCHS PETROLUB Takes Over MS Fluid Technologies&#39; Industrial</p> <p>Lubricants Operations II-88</p> <p>Houghton International Snaps Up D.A. Stuart II-89</p> <p>Kobil Zambia Acquires Minority Stake in Lublend II-89</p> <p>Kroon-Oil Purchases Putoline Oil II-89</p> <p>Bridgestone Holdings to Take Over Shell Autoserv Thailand II-89</p> <p>Bridgestone Tyre Sales Signs Agreement with Shell Group II-90</p> <p>S-Oil Signs Agreement with Total II-90</p> <p>Neochimiki LV Lavrentiadis to Purchase Stake in Belgrade Oil</p> <p>Refinery II-90</p> <p>Ineos and Puralube Nordic to Build Lubricant Oil Production</p> <p>Facility II-90</p> <p>Unipetrol to Acquire Minority Interest in Paramo Refinery II-91</p> <p>Shell Marine Products Inks Agreement with Qatar Fuel II-91</p> <p>UMW Signs Letter of Intent with Dah Chong Hong II-91</p> <p>PetroChina Lubricant Oil Forms Joint Venture with Wuxi</p> <p>Gorunjie Chemical II-91</p> <p>Rubis Purchases Fuel Distribution Operations of Dutch Shell II-92</p> <p>Elofic and Liqui Moly Sign Memorandum of Understanding II-92</p> <p>Cummins and Valvoline Forms Joint Venture II-92</p> <p>Apar Industries Inks Memorandum of Understanding with ENI II-92</p> <p>Apar Industries Signs Agreement with Piaggio II-92</p> <p>Calumet Takes Over operations of Penreco II-92</p> <p>H &amp; W Petroleum Signs Agreement with Chevron Products II-93</p> <p>GreenHunter Energy to Buy L&amp;L II-93</p> <p>Latin Heat Entertainment Purchases ProOne II-93</p> <p>Unioil Petroleum Philippines Inks Contract with Silver Tire</p> <p>Traders II-93</p> <p>Chevron Plans to Build Base Oil Manufacturing Plant II-93</p> <p>Shell Petroleum Divests its Stake in Refinería <span class="xn-person">Dominicana de</span></p> <p>Petróleo toGovernment of the Dominican Republic II-94</p> <p>BRS Gas Acquires Majority Stake in Duvernay Oil II-94</p> <p>Cepsa and Total Merge Operations II-94</p> <p>9. FOCUS ON SELECT GLOBAL PLAYERS II-95</p> <p>BP Plc (UK) II-95</p> <p>BP Lubricants US, Inc. (US) II-95</p> <p>Castrol BP Petco Ltd. (<span class="xn-location">Vietnam</span>) II-95</p> <p>Chevron Corporation (US) II-95</p> <p>ConocoPhillips Lubricants (US) II-96</p> <p>Exxon Mobil Corporation (US) II-96</p> <p>Esso S.A.F. (France) II-96</p> <p>Fuchs Petrolub AG (<span class="xn-location">Germany</span>) II-96</p> <p>Idemitsu Kosan Co., Ltd. (<span class="xn-location">Japan</span>) II-97</p> <p>Indian Oil Corporation Ltd. (India) II-97</p> <p>LUKOIL Oil Company (<span class="xn-location">Russia</span>) II-97</p> <p>JX Nippon Oil &amp; Energy Corporation (<span class="xn-location">Japan</span>) II-97</p> <p>Petróleos de Venezuela S.A. (<span class="xn-location">Venezuela</span>) II-98</p> <p>PT PERTAMINA (PERSERO) (<span class="xn-location">Indonesia</span>) II-98</p> <p>PT Wiraswasta Gemilang (<span class="xn-location">Indonesia</span>) II-98</p> <p>Repsol YPF SA (<span class="xn-location">Spain</span>) II-98</p> <p>Shell (<span class="xn-location">The Netherlands</span>) II-98</p> <p>Sinopec Corporation (China) II-98</p> <p>Total <span class="xn-person">S.A. (France) II</span>-99</p> <p>Valvoline (US) II-99</p> <p>10. GLOBAL MARKET PERSPECTIVE II-100</p> <p>Table 8: World Recent Past, Current &amp; Future Analysis for</p> <p>Lubricating Oils and Greases by Geographic Region - <span class="xn-location">USA</span>,</p> <p><span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span> (excluding <span class="xn-location">Japan</span>), Middle</p> <p>East, and Latin American Markets Independently Analyzed with</p> <p>Annual Sales Figures in Million Gallons for Years 2009 through</p> <p>2017 (includes corresponding Graph/Chart) II-100</p> <p>Table 9: World Historic Review for Lubricating Oils and</p> <p>Greases by Geographic Region - <span class="xn-location">USA</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>,</p> <p><span class="xn-location">Asia-Pacific</span> (excluding <span class="xn-location">Japan</span>), <span class="xn-location">Middle East</span>, and Latin</p> <p>American Markets Independently Analyzed with Annual Sales</p> <p>Figures in Million Gallons for Years 2003 through 2008</p> <p>(includes corresponding Graph/Chart) II-101</p> <p>Table 10: World 15-Year Perspective for Lubricating Oils and</p> <p>Greases by Geographic Region - Percentage Breakdown of Volume</p> <p>Sales for <span class="xn-location">USA</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span> (excluding</p> <p><span class="xn-location">Japan</span>), <span class="xn-location">Middle East</span>, and Latin American Markets for Years</p> <p>2003, 2011 &amp; 2017 (includes corresponding Graph/Chart) II-102</p> <p>Lubricating Oils and Greases Market by Product Group/Segment II-103</p> <p>Table 11: World Recent Past, Current &amp; Future Analysis for</p> <p>Automotive Lubricants by Geographic Region - <span class="xn-location">USA</span>, <span class="xn-location">Canada</span>,</p> <p><span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span> (excluding <span class="xn-location">Japan</span>), <span class="xn-location">Middle East</span>,</p> <p>and Latin American Markets Independently Analyzed with Annual</p> <p>Sales Figures in Million Gallons for Years 2009 through 2017</p> <p>(includes corresponding Graph/Chart) II-103</p> <p>Table 12: World Historic Review for Automotive Lubricants by</p> <p>Geographic Region - <span class="xn-location">USA</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span></p> <p>(excluding <span class="xn-location">Japan</span>), <span class="xn-location">Middle East</span>, and Latin American Markets</p> <p>Independently Analyzed with Annual Sales Figures in Million</p> <p>Gallons for Years 2003 through 2008 (includes corresponding</p> <p>Graph/Chart) II-104</p> <p>Table 13: World Recent Past, Current &amp; Future Analysis for</p> <p>Automotive Lubricants by Product Segment - Engine Oils, and</p> <p>Transmission &amp; Hydraulic Fluids Markets Independently Analyzed</p> <p>with Annual Sales Figures in Million Gallons for Years 2009</p> <p>through 2017 (includes corresponding Graph/Chart) II-105</p> <p>Table 14: World Historic Review for Automotive Lubricants by</p> <p>Product Segment - Engine Oils, and Transmission &amp; Hydraulic</p> <p>Fluids Markets Independently Analyzed with Annual Sales</p> <p>Figures in Million Gallons for Years 2003 through 2008</p> <p>(includes corresponding Graph/Chart) II-106</p> <p>Table 15: World 15-Year Perspective for Automotive Lubricants</p> <p>by Geographic Region - Percentage Breakdown of Volume Sales</p> <p>for <span class="xn-location">USA</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span> (excluding</p> <p><span class="xn-location">Japan</span>), <span class="xn-location">Middle East</span>, and Latin American Markets for Years</p> <p>2003, 2011 &amp; 2017 (includes corresponding Graph/Chart) II-107</p> <p>Table 16: World 15-Year Perspective for Automotive Lubricants</p> <p>by Product Segment - Percentage Breakdown of Volume Sales for</p> <p>Engine Oils, and Transmission &amp; Hydraulic Fluids Markets for</p> <p>Years 2003, 2011 &amp; 2017 II-108</p> <p>Table 17: World Recent Past, Current &amp; Future Analysis for</p> <p>Engine Oils by Geographic Region - <span class="xn-location">USA</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>,</p> <p><span class="xn-location">Asia-Pacific</span> (excluding <span class="xn-location">Japan</span>), <span class="xn-location">Middle East</span>, and Latin</p> <p>American Markets Independently Analyzed with Annual Sales</p> <p>Figures in Million Gallons for Years 2009 through 2017</p> <p>(includes corresponding Graph/Chart) II-109</p> <p>Table 18: World Historic Review for Engine Oils by Geographic</p> <p>Region - <span class="xn-location">USA</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span> (excluding</p> <p><span class="xn-location">Japan</span>), <span class="xn-location">Middle East</span>, and Latin American Markets Independently</p> <p>Analyzed with Annual Sales Figures in Million Gallons for</p> <p>Years 2003 through 2008 (includes corresponding Graph/Chart) II-110</p> <p>Table 19: World 15-Year Perspective for Engine Oils by</p> <p>Geographic Region - Percentage Breakdown of Volume Sales for</p> <p><span class="xn-location">USA</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span> (excluding <span class="xn-location">Japan</span>),</p> <p><span class="xn-location">Middle East</span>, and Latin American Markets for Years 2003, 2011 &amp;</p> <p>2017 (includes corresponding Graph/Chart) II-111</p> <p>Table 20: World Recent Past, Current &amp; Future Analysis for</p> <p>Transmission &amp; Hydraulic Fluids by Geographic Region - <span class="xn-location">USA</span>,</p> <p><span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span> (excluding <span class="xn-location">Japan</span>), Middle</p> <p>East, and Latin American Markets Independently Analyzed with</p> <p>Annual Sales Figures in Million Gallons for Years 2009 through</p> <p>2017 (includes corresponding Graph/Chart) II-112</p> <p>Table 21: World Historic Review for Transmission &amp; Hydraulic</p> <p>Fluids by Geographic Region - <span class="xn-location">USA</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>,</p> <p><span class="xn-location">Asia-Pacific</span> (excluding <span class="xn-location">Japan</span>), <span class="xn-location">Middle East</span>, and Latin</p> <p>American Markets Independently Analyzed with Annual Sales</p> <p>Figures in Million Gallons for Years 2003 through 2008</p> <p>(includes corresponding Graph/Chart) II-113</p> <p>Table 22: World 15-Year Perspective for Transmission &amp;</p> <p>Hydraulic Fluids by Geographic Region - Percentage Breakdown</p> <p>of Volume Sales for <span class="xn-location">USA</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span></p> <p>(excluding <span class="xn-location">Japan</span>), <span class="xn-location">Middle East</span>, and Latin American Markets for</p> <p>Years 2003, 2011 &amp; 2017 (includes corresponding Graph/Chart) II-114</p> <p>Table 23: World Recent Past, Current &amp; Future Analysis for</p> <p>Industrial Lubricants by Geographic Region - <span class="xn-location">USA</span>, <span class="xn-location">Canada</span>,</p> <p><span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span> (excluding <span class="xn-location">Japan</span>), <span class="xn-location">Middle East</span>,</p> <p>and Latin American Markets Independently Analyzed with Annual</p> <p>Sales Figures in Million Gallons for Years 2009 through 2017</p> <p>(includes corresponding Graph/Chart) II-115</p> <p>Table 24: World Historic Review for Industrial Lubricants by</p> <p>Geographic Region - <span class="xn-location">USA</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span></p> <p>(excluding <span class="xn-location">Japan</span>), <span class="xn-location">Middle East</span>, and Latin American Markets</p> <p>Independently Analyzed with Annual Sales Figures in Million</p> <p>Gallons for Years 2003 through 2008 (includes corresponding</p> <p>Graph/Chart) II-116</p> <p>Table 25: World Recent Past, Current &amp; Future Analysis for</p> <p>Industrial Lubricants by Product Segment - General Industrial</p> <p>Oils, Industrial Engine Oils, Marine Lubricants, Metal Working</p> <p>Oils, and Process Oil Markets Independently Analyzed with</p> <p>Annual Sales Figures in Million Gallons for Years 2009 through</p> <p>2017 (includes corresponding Graph/Chart) II-117</p> <p>Table 26: World Historic Review for Industrial Lubricants by</p> <p>Product Segment - General Industrial Oils, Industrial Engine</p> <p>Oils, Marine Lubricants, Metal Working Oils, and Process Oil</p> <p>Markets Independently Analyzed with Annual Sales Figures in</p> <p>Million Gallons for Years 2003 through 2008 (includes</p> <p>corresponding Graph/Chart) II-118</p> <p>Table 27: World 15-Year Perspective for Industrial Lubricants</p> <p>by Geographic Region - Percentage Breakdown of Volume Sales</p> <p>for <span class="xn-location">USA</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span> (excluding</p> <p><span class="xn-location">Japan</span>), <span class="xn-location">Middle East</span>, and Latin American Markets for Years</p> <p>2003, 2011 &amp; 2017 (includes corresponding Graph/Chart) II-119</p> <p>Table 28: World 15-Year Perspective for Industrial Lubricants</p> <p>by Product Segment - Percentage Breakdown of Volume Sales for</p> <p>General Industrial Oils, Industrial Engine Oils, Marine</p> <p>Lubricants, Metal Working Oils, and Process Oil Markets for</p> <p>Years 2003, 2011 &amp; 2017 (includes corresponding Graph/Chart) II-120</p> <p>Table 29: World Recent Past, Current &amp; Future Analysis for</p> <p>General Industrial Oils by Geographic Region - <span class="xn-location">USA</span>, <span class="xn-location">Canada</span>,</p> <p><span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span> (excluding <span class="xn-location">Japan</span>), <span class="xn-location">Middle East</span>,</p> <p>and Latin American Markets Independently Analyzed with Annual</p> <p>Sales Figures in Million Gallons for Years 2009 through 2017</p> <p>(includes corresponding Graph/Chart) II-121</p> <p>Table 30: World Historic Review for General Industrial Oils by</p> <p>Geographic Region - <span class="xn-location">USA</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span></p> <p>(excluding <span class="xn-location">Japan</span>), <span class="xn-location">Middle East</span>, and Latin American Markets</p> <p>Independently Analyzed with Annual Sales Figures in Million</p> <p>Gallons for Years 2003 through 2008 (includes corresponding</p> <p>Graph/Chart) II-122</p> <p>Table 31: World 15-Year Perspective for General Industrial</p> <p>Oils by Geographic Region - Percentage Breakdown of Volume</p> <p>Sales for <span class="xn-location">USA</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span> (excluding</p> <p><span class="xn-location">Japan</span>), <span class="xn-location">Middle East</span>, and Latin American Markets for Years</p> <p>2003, 2011 &amp; 2017 (includes corresponding Graph/Chart) II-123</p> <p>Table 32: World Recent Past, Current &amp; Future Analysis for</p> <p>Industrial Engine Oils by Geographic Region - <span class="xn-location">USA</span>, <span class="xn-location">Canada</span>,</p> <p><span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span> (excluding <span class="xn-location">Japan</span>), <span class="xn-location">Middle East</span>,</p> <p>and Latin American Markets Independently Analyzed with Annual</p> <p>Sales Figures in Million Gallons for Years 2009 through 2017</p> <p>(includes corresponding Graph/Chart) II-124</p> <p>Table 33: World Historic Review for Industrial Engine Oils by</p> <p>Geographic Region - <span class="xn-location">USA</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span></p> <p>(excluding <span class="xn-location">Japan</span>), <span class="xn-location">Middle East</span>, and Latin American Markets</p> <p>Independently Analyzed with Annual Sales Figures in Million</p> <p>Gallons for Years 2003 through 2008 (includes corresponding</p> <p>Graph/Chart) II-125</p> <p>Table 34: World 15-Year Perspective for Industrial Engine Oils</p> <p>by Geographic Region - Percentage Breakdown of Volume Sales</p> <p>for <span class="xn-location">USA</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>, Europe,Asia-Pacific (excluding <span class="xn-location">Japan</span>),</p> <p><span class="xn-location">Middle East</span>, and Latin American Markets for Years 2003, 2011 &amp;</p> <p>2017 (includes corresponding Graph/Chart) II-126</p> <p>Table 35: World Recent Past, Current &amp; Future Analysis for</p> <p>Marine Lubricants by Geographic Region - <span class="xn-location">USA</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>,</p> <p><span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span> (excluding <span class="xn-location">Japan</span>), <span class="xn-location">Middle East</span>, and Latin</p> <p>American Markets Independently Analyzed with Annual Sales</p> <p>Figures in Million Gallons for Years 2009 through 2017</p> <p>(includes corresponding Graph/Chart) II-127</p> <p>Table 36: World Historic Review for Marine Lubricants by</p> <p>Geographic Region - <span class="xn-location">USA</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span></p> <p>(excluding <span class="xn-location">Japan</span>), <span class="xn-location">Middle East</span>, and Latin American Markets</p> <p>Independently Analyzed with Annual Sales Figures in Million</p> <p>Gallons for Years 2003 through 2008 (includes corresponding</p> <p>Graph/Chart) II-128</p> <p>Table 37: World 15-Year Perspective for Marine Lubricants by</p> <p>Geographic Region - Percentage Breakdown of Volume Sales for</p> <p><span class="xn-location">USA</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span> (excluding <span class="xn-location">Japan</span>),</p> <p><span class="xn-location">Middle East</span>, and Latin American Markets for Years 2003, 2011 &amp;</p> <p>2017 (includes corresponding Graph/Chart) II-129</p> <p>Table 38: World Recent Past, Current &amp; Future Analysis for</p> <p>Metal Working Oils by Geographic Region - <span class="xn-location">USA</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>,</p> <p><span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span> (excluding <span class="xn-location">Japan</span>), <span class="xn-location">Middle East</span>, and Latin</p> <p>American Markets Independently Analyzed with Annual Sales</p> <p>Figures in Million Gallons for Years 2009 through 2017</p> <p>(includes corresponding Graph/Chart) II-130</p> <p>Table 39: World Historic Review for Metal Working Oils by</p> <p>Geographic Region - <span class="xn-location">USA</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span></p> <p>(excluding <span class="xn-location">Japan</span>), <span class="xn-location">Middle East</span>, and Latin American Markets</p> <p>Independently Analyzed with Annual Sales Figures in Million</p> <p>Gallons for Years 2003 through 2008 (includes corresponding</p> <p>Graph/Chart) II-131</p> <p>Table 40: World 15-Year Perspective for Metal Working Oils by</p> <p>Geographic Region - Percentage Breakdown of Volume Sales for</p> <p><span class="xn-location">USA</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>, <span class="xn-location">Asia- Pacific</span> (excluding <span class="xn-location">Japan</span>),</p> <p><span class="xn-location">Middle East</span>, and Latin American Markets for Years 2003, 2011 &amp;</p> <p>2017 (includes corresponding Graph/Chart) II-132</p> <p>Table 41: World Recent Past, Current &amp; Future Analysis for</p> <p>Process Oils by Geographic Region - <span class="xn-location">USA</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>,</p> <p><span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span> (excluding <span class="xn-location">Japan</span>), <span class="xn-location">Middle East</span>, and Latin</p> <p>American Markets Independently Analyzed with Annual Sales</p> <p>Figures in Million Gallons for Years 2009 through 2017</p> <p>(includes corresponding Graph/Chart) II-133</p> <p>Table 42: World Historic Review for Process Oils by Geographic</p> <p>Region - <span class="xn-location">USA</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span> (excluding</p> <p><span class="xn-location">Japan</span>), <span class="xn-location">Middle East</span>, and Latin American Markets Independently</p> <p>Analyzed with Annual Sales Figures in Million Gallons for</p> <p>Years 2003 through 2008 (includes corresponding Graph/Chart) II-134</p> <p>Table 43: World 15-Year Perspective for Process Oils by</p> <p>Geographic Region - Percentage Breakdown of Volume Sales for</p> <p><span class="xn-location">USA</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span> (excluding <span class="xn-location">Japan</span>),</p> <p><span class="xn-location">Middle East</span>, and Latin American Markets for Years 2003, 2011 &amp;</p> <p>2017 (includes corresponding Graph/Chart) II-135</p> <p>Table 44: World Recent Past, Current &amp; Future Analysis for</p> <p>Greases by Geographic Region - <span class="xn-location">USA</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>,</p> <p><span class="xn-location">Asia-Pacific</span> (excluding <span class="xn-location">Japan</span>), <span class="xn-location">Middle East</span>, and Latin</p> <p>American Markets Independently Analyzed with Annual Sales</p> <p>Figures in Million Gallons for Years 2009 through 2017</p> <p>(includes corresponding Graph/Chart) II-136</p> <p>Table 45: World Historic Review for Greases by Geographic</p> <p>Region - <span class="xn-location">USA</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span> (excluding</p> <p><span class="xn-location">Japan</span>), <span class="xn-location">Middle East</span>, and Latin American Markets Independently</p> <p>Analyzed with Annual Sales Figures in Million Gallons for</p> <p>Years 2003 through 2008 (includes corresponding Graph/Chart) II-137</p> <p>Table 46: World 15-Year Perspective for Greases by Geographic</p> <p>Region - Percentage Breakdown of Volume Sales for <span class="xn-location">USA</span>, <span class="xn-location">Canada</span>,</p> <p><span class="xn-location">Japan</span>, <span class="xn-location">Europe</span>, <span class="xn-location">Asia-Pacific</span> (excluding <span class="xn-location">Japan</span>), <span class="xn-location">Middle East</span>,</p> <p>and Latin American Markets for Years 2003, 2011 &amp; 2017</p> <p>(includes corresponding Graph/Chart) II-138</p> <p>III. MARKET</p> <p>1. <span class="xn-location">THE UNITED STATES</span> III-1</p> <p>A.Market Analysis III-1</p> <p>Factors Affecting Industrial Lubricants Market III-1</p> <p>Rising Demand for Engine Oils to Add Vigor to the Ailing</p> <p>Lubricants Market III-1</p> <p>Environmental Concerns - Ups the Stake of Vegetable Oils in</p> <p>Lubricants III-1</p> <p>Table 47: North American Basestock Oil Supply (2008):</p> <p>Percentage Share Breakdown of Basestock Supply by Category</p> <p>(includes corresponding Graph/Chart) III-2</p> <p>Distribution Channels III-2</p> <p>Competition III-3</p> <p>Table 48: Leading Players in the US Finished Lubricants</p> <p>Market (2009): Percentage Breakdown of Value Sales for</p> <p>Shell, ExxonMobil, Chevron, ConocoPhillips, <span class="xn-location">Ashland</span>, BP and</p> <p>Others (includes corresponding Graph/Chart) III-3</p> <p>Table 49: Motor Oils Market in US (2007): Percentage Share</p> <p>Breakdown of Volume Sales by Leading Brands (includes</p> <p>corresponding Graph/Chart) III-3</p> <p>B.Market Analytics III-4</p> <p>Table 50: US Recent Past, Current &amp; Future Analysi for</p> <p>Lubricating Oils and Greases by Product Group/ Segment -</p> <p>Automotive Lubricants {Engine Oils [Monograded,</p> <p>Multigraded], Transmission &amp; Hydraulic Fluids [Automatic</p> <p>Transmission Fluids, Universal Tractors (Hydraulic/</p> <p>Transmission), Energy/Shock Absorbers, Power Steering,</p> <p>Automotive Gear Oils, and Others]}, Industrial Lubricants</p> <p>{General Industrial Oils [Hydraulic Oils, Fire- Resistant</p> <p>Oils, Industrial Gear Oils, and Others], Industrial Engine</p> <p>Oils [Railroad Diesel and Natural Gas], Marine Lubricants,</p> <p>Metal Working Oils, and Process Oils}, and Greases Markets</p> <p>Independently Analyzed with Annual Sales Figures in Million</p> <p>Gallons for Years 2009 through 2017 (includes corresponding</p> <p>Graph/Chart) III-4</p> <p>Table 51: US Historic Review for Lubricating Oils and</p> <p>Greases by Product Group/Segment - Automotive Lubricants</p> <p>{Engine Oils [Monograded, Multigraded], Transmission &amp;</p> <p>Hydraulic Fluids [Automatic Transmission Fluids, Universal</p> <p>Tractors (Hydraulic/ Transmission), Energy/Shock Absorbers,</p> <p>Power Steering, Automotive Gear Oils, and Others]},</p> <p>Industrial Lubricants {General Industrial Oils [Hydraulic</p> <p>Oils, Fire-Resistant Oils, Industrial Gear Oils, and</p> <p>Others], Industrial Engine Oils [Railroad Diesel and Natural</p> <p>Gas], Marine Lubricants, Metal Working Oils, and Process</p> <p>Oils}, and Greases Markets Independently Analyzed with</p> <p>Annual Sales Figures in Million Gallons for Years 2003</p> <p>through 2008 (includes corresponding Graph/Chart) III-6</p> <p>Table 52: US 15-Year Perspective for Lubricating Oils and</p> <p>Greases by Product Group/Segment - Percentage Breakdown of</p> <p>Volume Sales for Automotive Lubricants {Engine Oils</p> <p>[Monograded, Multigraded], Transmission &amp; Hydraulic Fluids</p> <p>[Automatic Transmission Fluids, Universal Tractors</p> <p>(Hydraulic/ Transmission), Energy/Shock Absorbers, Power</p> <p>Steering, Automotive Gear Oils, and Others]}, Industrial</p> <p>Lubricants {General Industrial Oils [Hydraulic Oils,</p> <p>Fire-Resistant Oils, Industrial Gear Oils, and Others],</p> <p>Industrial Engine Oils [Railroad Diesel and Natural Gas],</p> <p>Marine Lubricants, Metal Working Oils, and Process Oils},</p> <p>and Greases Markets for Years 2003, 2011 &amp; 2017 (includes</p> <p>corresponding Graph/Chart) III-8</p> <p>2. <span class="xn-location">CANADA</span> III-9</p> <p>Market Analytics III-9</p> <p>Table 53: Canadian Recent Past, Current &amp; Future Analysis</p> <p>for Lubricating Oils and Greases by Product Group/Segment -</p> <p>Automotive Lubricants (Engine Oils, and Transmission &amp;</p> <p>Hydraulic Fluids), Industrial Lubricants (General Industrial</p> <p>Oils, Industrial Engine Oils, Marine Lubricants, Metal</p> <p>Working Oils, and Process Oils), and Greases Markets</p> <p>Independently Analyzed with Annual Sales Figures in Million</p> <p>Gallons for Years 2009 through 2017 (includes corresponding</p> <p>Graph/Chart) III-9</p> <p>Table 54: Canadian Historic Review for Lubricating Oils and</p> <p>Greases by Product Group/Segment - Automotive Lubricants</p> <p>(Engine Oils, and Transmission &amp; Hydraulic Fluids),</p> <p>Industrial Lubricants (General Industrial Oils, Industrial</p> <p>Engine Oils, Marine Lubricants, Metal Working Oils, and</p> <p>Process Oils), and Greases Markets Independently Analyzed</p> <p>with Annual Sales Figures in Million Gallons for Years 2003</p> <p>through 2008 (includes corresponding Graph/Chart) III-10</p> <p>Table 55: Canadian 15-Year Perspective for Lubricating Oils</p> <p>and Greases by Product Group/Segment - Percentage Breakdown</p> <p>of Volume Sales for Automotive Lubricants (Engine Oils and</p> <p>Transmission &amp; Hydraulic Fluids), Industrial Lubricants</p> <p>(General Industrial Oils, Industrial Engine Oils, Marine</p> <p>Lubricants, Metal Working Oils, and Process Oils), and</p> <p>Greases Markets for Years 2003, 2011 &amp; 2017 (includes</p> <p>corresponding Graph/Chart) III-11</p> <p>3. <span class="xn-location">JAPAN</span> III-12</p> <p>A.Market Analysis III-12</p> <p>Market Overview III-12</p> <p><span class="xn-location">Japan</span> to Rely Less on Oil in the Long Run III-12</p> <p>Historic Statistical Findings III-12</p> <p>Table 56: Base Oils Market in <span class="xn-location">Japan</span> (2005): Percentage</p> <p>Breakdown of Volume Production by Category - Group-I Oils,</p> <p>Naphthemic Oils, Group-II Oils, Group-III Oils, and Others</p> <p>(includes corresponding Graph/Chart) III-12</p> <p>Table 57: Leading Players in the Japanese Lubricating Oil</p> <p>and Greases Market (2005 &amp; 2006): Percentage Breakdown of</p> <p>Volume Sales for Nippon Oil Corporation, Idemitsu Kosan,</p> <p>ExxonMobil Group, Cosmo Oil, Japan Energy, Showa Shell</p> <p>Sekiyu, and Others (includes corresponding Graph/Chart) III-13</p> <p>B.Market Analytics III-14</p> <p>Table 58: Japanese Recent Past, Current &amp; Future Analysis</p> <p>for Lubricating Oils and Greases by Product Group/Segment -</p> <p>Automotive Lubricants (Engine Oils, and Transmission &amp;</p> <p>Hydraulic Fluids), Industrial Lubricants (General Industrial</p> <p>Oils, Industrial Engine Oils, Marine Lubricants, Metal</p> <p>Working Oils, and Process Oils), and Greases Markets</p> <p>Independently Analyzed with Annual Sales Figures in Million</p> <p>Gallons for Years 2009 through 2017 (includes corresponding</p> <p>Graph/Chart) III-14</p> <p>Table 59: Japanese Historic Review for Lubricating Oils and</p> <p>Greases by Product Group/Segment - Automotive Lubricants</p> <p>(Engine Oils, and Transmission &amp; Hydraulic Fluids),</p> <p>Industrial Lubricants (General Industrial Oils, Industrial</p> <p>Engine Oils, Marine Lubricants, Metal Working Oils, and</p> <p>Process Oils), and Greases Markets Independently Analyzed</p> <p>with Annual Sales Figures in Million Gallons for Years 2003</p> <p>through 2008 (includes corresponding Graph/Chart) III-15</p> <p>Table 60: Japanese 15-Year Perspective for Lubricating Oils</p> <p>and Greases by Product Group/Segment - Percentage Breakdown</p> <p>of Volume Sales for Automotive Lubricants (Engine Oils, and</p> <p>Transmission &amp; Hydraulic Fluids), Industrial Lubricants</p> <p>(General Industrial Oils, Industrial Engine Oils, Marine</p> <p>Lubricants, Metal Working Oils, and Process Oils), and</p> <p>Greases Markets for Years 2003, 2011 &amp; 2017 (includes</p> <p>corresponding Graph/Chart) III-16</p> <p>4. <span class="xn-location">EUROPE</span> III-17</p> <p>A.Market Analysis III-17</p> <p>Market Overview III-17</p> <p>R.E.A.C.H. Legislation Likely to Favor Biolubricant Sector</p> <p>in Europe III-17</p> <p>Metalworking Fluids Market III-18</p> <p>Growth Opportunities III-18</p> <p>Specialty Lubricants Market III-18</p> <p>Biolubricants Market III-18</p> <p>Table 61: Western European Basestock Oil Supply (2008):</p> <p>Percentage Share Breakdown of Basestock Supply by Category</p> <p>(includes corresponding Graph/Chart) III-19</p> <p>Focus on Select Biolubricants Segments in Europe III-19</p> <p>Hydraulic Fluids III-19</p> <p>Table 62: Comparison between Ingredients with</p> <p>Corresponding Substances of Typical Hydraulic Fluids made</p> <p>from Vegetable Oils and Mineral Oils (for 1000 grams of</p> <p>oil) III-19</p> <p>Chainsaw Oil III-20</p> <p>Table 63: Comparison between Ingredients with</p> <p>Corresponding Substances of Typical Chainsaw Lubricants</p> <p>made from Rapeseed Oils and Mineral Oils (for 1000 grams</p> <p>of oil) III-20</p> <p>Motor and Gear Oils III-20</p> <p>Metal Working Fluids III-20</p> <p>Greases III-21</p> <p>Table 64: European Grease Market (2008): Percentage</p> <p>Breakdown of Volume Production by Type - Lithium Soap</p> <p>Grease, Calcium Soap Grease, Aluminum Soap Grease,</p> <p>Polyurea, and Other Greases (includes corresponding</p> <p>Graph/Chart) III-21</p> <p>B.Market Analytics III-22</p> <p>Table 65: European Recent Past, Current &amp; Future Analysis</p> <p>for Lubricating Oils and Greases by Geographic Region -</p> <p>France, <span class="xn-location">Germany</span>, <span class="xn-location">Italy</span>, UK, <span class="xn-location">Spain</span>, <span class="xn-location">Russia</span>, and Rest of</p> <p>Europe Markets Independently Analyzed with Annual Sales</p> <p>Figures in Million Gallons for Years 2009 through 2017</p> <p>(includes corresponding Graph/Chart) III-22</p> <p>Table 66: European Historic Review for Lubricating Oils and</p> <p>Greases by Geographic Region - France, <span class="xn-location">Germany</span>, <span class="xn-location">Italy</span>, UK,</p> <p><span class="xn-location">Spain</span>, <span class="xn-location">Russia</span>, and Rest of Europe Markets Independently</p> <p>Analyzed with Annual Sales Figures in Million Gallons for</p> <p>Years 2003 through 2008 (includes corresponding Graph/Chart) III-23</p> <p>Table 67: European Recent Past, Current &amp; Future Analysis</p> <p>for Lubricating Oils and Greases by Product Group/Segment -</p> <p>Automotive Lubricants (Engine Oils, and Transmission &amp;</p> <p>Hydraulic Fluids), Industrial Lubricants (General Industrial</p> <p>Oils, Industrial Engine Oils, Marine Lubricants, Metal</p> <p>Working Oils, and Process Oils), and Greases Markets</p> <p>Independently Analyzed with Annual Sales Figures in Million</p> <p>Gallons for Years 2009 through 2017 (includes corresponding</p> <p>Graph/Chart) III-24</p> <p>Table 68: European Historic Review for Lubricating Oils and</p> <p>Greases by Product Group/Segment - Automotive Lubricants</p> <p>(Engine Oils, and Transmission &amp; Hydraulic Fluids),</p> <p>Industrial Lubricants (General Industrial Oils, Industrial</p> <p>Engine Oils, Marine Lubricants, Metal Working Oils, and</p> <p>Process Oils), and Greases Markets Independently Analyzed</p> <p>with Annual Sales Figures in Million Gallons for Years 2003</p> <p>through 2008 (includes corresponding Graph/Chart) III-25</p> <p>Table 69: European 15-Year Perspective for Lubricating Oils</p> <p>and Greases by Geographic Region - Percentage Breakdown of</p> <p>Volume Sales for France, <span class="xn-location">Germany</span>, <span class="xn-location">Italy</span>, UK, <span class="xn-location">Spain</span>, <span class="xn-location">Russia</span>,</p> <p>and Rest of Europe Markets for Years 2003, 2011 &amp; 2017</p> <p>(includes corresponding Graph/Chart) III-26</p> <p>Table 70: European 15-Year Perspective for Lubricating Oils</p> <p>and Greases by Product Group/Segment - Percentage Breakdown</p> <p>of Volume Sales for Automotive Lubricants (Engine Oils, and</p> <p>Transmission &amp; Hydraulic Fluids), Industrial Lubricants</p> <p>(General Industrial Oils, Industrial Engine Oils, Marine</p> <p>Lubricants, Metal Working Oils, and Process Oils), and</p> <p>Greases Markets for Years 2003, 2011 &amp; 2017 (includes</p> <p>corresponding Graph/Chart) III-27</p> <p>4a. FRANCE III-28</p> <p>Market Analytics III-28</p> <p>Table 71: French Recent Past, Current &amp; Future Analysis for</p> <p>Lubricating Oils and Greases by Product Group/Segment -</p> <p>Automotive Lubricants (Engine Oils, and Transmission &amp;</p> <p>Hydraulic Fluids), Industrial Lubricants (General Industrial</p> <p>Oils, Industrial Engine Oils, Marine Lubricants, Metal</p> <p>Working Oils, and Process Oils), and Greases Markets</p> <p>Independently Analyzed with Annual Sales Figures in Million</p> <p>Gallons for Years 2009 through 2017 (includes corresponding</p> <p>Graph/Chart) III-28</p> <p>Table 72: French Historic Review for Lubricating Oils and</p> <p>Greases by Product Group/Segment - Automotive Lub</p> <p><b>To order this report:</b></p> <p><a href="http://www.reportlinker.com/ci01331/Oil-and-Gas-energy.html"><b>Oil and Gas energy Industry</b></a><b>: </b><a href="http://www.reportlinker.com/p0459179/Global-Lubricating-Oils-and--Greases-Industry.html"><b>Global Lubricating Oils and Greases Industry</b></a></p> <p>More  <a href="http://www.reportlinker.com/">Market Research Report</a></p> <p>Check our  <a href="http://www.reportlinker.com/news/">Industry Analysis and Insights</a></p> <p>CONTACT:<br/>Nicolas Bombourg<br/>Reportlinker<br/>Email: <a href="mailto:nicolasbombourg@reportlinker.com">nicolasbombourg@reportlinker.com</a><br/>US: (805)652-2626<br/>Intl: +1 805-652-2626</p> <p>SOURCE Reportlinker</p> </div> <img alt="" src="http://rt.prnewswire.com/rt.gif?NewsItemId=SP08298&amp;Transmission_Id=201205161132PR_NEWS_USPR_____SP08298&amp;DateId=20120516" style="border:0px; width:1px; height:1px;"/> Butamax Granted Core Patent for Making Biobutanol and Distillers Grains; Offers Producers Efficient, Low-Cost Production of Biobutanol http://www.einpresswire.com/article/791515-butamax-granted-core-patent-for-making-biobutanol-and-distillers-grains-offers-producers-efficient-low-cost-production-of-biobutanol http://www.einpresswire.com/article/791515-butamax-granted-core-patent-for-making-biobutanol-and-distillers-grains-offers-producers-efficient-low-cost-production-of-biobutanol Tue, 15 May 2012 11:03:39 +0000 <div class="xn-newslines"> <h1 class="xn-hedline">Butamax Granted Core Patent for Making Biobutanol and Distillers Grains; Offers Producers Efficient, Low-Cost Production of Biobutanol</h1> <p class="xn-distributor">PR Newswire</p> </div> <div class="xn-content"> <p><span class="xn-location">WILMINGTON, Del.</span>, <span class="xn-chron">May 15, 2012</span> /PRNewswire/ -- Butamax™ Advanced Biofuels, LLC announced today that the United States Patent and Trademark Office (USPTO) has granted Butamax Patent Number 8,178,328. The &#39;328 patent covers a highly efficient engineered pathway for producing isobutanol from recombinant microorganisms at commercial scale.  These novel microorganisms have been designed using advanced biotechnology to convert sugar to isobutanol. </p> <p>(Logo: <a href="http://photos.prnewswire.com/prnh/20120209/MM50763LOGO" target="_blank">http://photos.prnewswire.com/prnh/20120209/MM50763LOGO</a><img src="http://photos.prnewswire.com/prnthumb/20120209/MM50763LOGO" align="right"/> )</p> <p>The &#39;328 patent also protects extraction and distillation of the isobutanol, as well as steps for recovering the solids (distillers grains) produced during isobutanol fermentation.  Protection of biobutanol processes that produce these grains is key in that distillers grains provide a significant economic advantage for Butamax&#39;s customers and provide local agriculture with a high-protein animal feed.  With these added protections having priority back to 2005, the &#39;328 patent extends Butamax&#39;s foundational patent estate to span key value drivers for commercialization.</p> <p>The USPTO granted the &#39;328 patent in view of the art cited against Butamax&#39;s &#39;188 and &#39;899 patents in reexamination requests filed by Gevo.  This means that the USPTO has determined that the &#39;328 patent is novel and inventive over all of the publications referenced in reexamination of the &#39;188 and &#39;889 patents. </p> <p>&#34;Grant of this new patent supports the Butamax view that the USPTO will ultimately affirm the &#39;188 and &#39;889 patents at the conclusion of the re-examination process,&#34; said <span class="xn-person">Paul Beckwith</span>, CEO Butamax.</p> <p>Butamax will add the &#39;328 patent to its ongoing litigation against Gevo.  A decision on Butamax&#39;s request for preliminary injunction against Gevo for infringing its &#39;889 patent is expected in the near term and trial for that lawsuit (which also includes the &#39;188 patent) is scheduled for <span class="xn-chron">April 2013</span>; subsequent trials are expected for <span class="xn-chron">July 2014</span>.</p> <p><b>About Butamax </b></p> <p>Butamax™ Advanced Biofuels, LLC, a joint venture between BP and DuPont, was formed to develop and commercialize biobutanol as a next generation renewable biofuel for the transport market. The company benefits from the synergy of DuPont&#39;s proven industrial biotechnology experience and BP&#39;s global fuels market knowledge. Butamax&#39;s proprietary technology offers a cost-advantaged manufacturing process for isobutanol with value from field to pump. For more information, visit <a href="http://www.butamax.com/" target="_blank">www.butamax.com</a>. </p> <p>Butamax™ is a trademark of Butamax™ Advanced Biofuels, LLC.</p> <p>Media Contact: <br/><span class="xn-person">Cory Ziskind</span> 646-277-1232 </p> <p>SOURCE Butamax Advanced Biofuels, LLC</p> </div> <img alt="" src="http://rt.prnewswire.com/rt.gif?NewsItemId=DE07021&amp;Transmission_Id=201205150703PR_NEWS_USPR_____DE07021&amp;DateId=20120515" style="border:0px; width:1px; height:1px;"/> GDS International Joins Forces with Africa's Oil and Gas Elite http://www.einpresswire.com/article/789867-gds-international-joins-forces-with-africa-s-oil-and-gas-elite http://www.einpresswire.com/article/789867-gds-international-joins-forces-with-africa-s-oil-and-gas-elite Mon, 14 May 2012 11:04:00 +0000 <div class="xn-newslines"> <h1 class="xn-hedline">GDS International Joins Forces with Africa's Oil and Gas Elite</h1> <p class="xn-distributor">PR Newswire</p> </div> <div class="xn-content"> <p><span class="xn-location">ACCRA, Ghana</span>, <span class="xn-chron">May 14, 2012</span> /PRNewswire/ --</p> <p>On 25<sup>th</sup> - 27<sup>th</sup> <span class="xn-chron">September 2012</span>, the La Palm Royal Beach Hotel, <span class="xn-location">Accra, Ghana</span>, will host a consortium of 65 C-level executives from the region's leading oil and gas companies for three days as they attend GDS International's highly anticipated sixth Next Generation Oil and Gas Africa Summit - <a href="http://www.ngosummitafrica.com/">http://www.ngosummitafrica.com</a></p> <p>The NG O&amp;G Africa Summit will serve as an arena for C-level executives to meet, network, and assess the rapidly evolving topography of the oil and gas industry in a lively, closed door environment. The summit has been carefully refined to cover cutting edge, region-specific issues that will be presented through a series of interactive workshops, roundtable discussions and moderated, peer-led panel discussions that give delegates the opportunity to meet with business analysts and solution providers to determine strategies and solutions for the year ahead and beyond. Key topics scheduled for discussion at this year's summit include exploration initiatives in Sub Saharan Africa, drilling and data management, through to disruptive and emerging technologies, and IT &amp; communication solutions.</p> <p>In attendance will be a selection of the industry's most prominent thought leaders who will be contributing to the direction of the summit through a series of topic-specific panel discussions. One such panel comprises <span class="xn-person">William T. Drennen III</span>, CEO <span class="xn-person">Vanco Exploration</span>; <span class="xn-person">Alastair Milne</span>, VP Exploration Sub-Saharan Africa Shell; <span class="xn-person">Jay Thorseth</span>, VP E&amp;P, BP Angola; and <span class="xn-person">Adrian Robinson</span>, Exploration Director for African Petroleum.</p> <p>William has recently become CEO of Vanco Exploration and is currently concentrating on expanding Vanco's interest in <span class="xn-location">Africa</span>. He has extensive global experience in the exploration field, and was previously SVP Exploration and New Ventures at Hess. He believes that the NG O&amp;G Africa summit will provide a unique platform from which to share best practices and generate key working relationships with peers. In his own words: "I am really looking forward to the panel at the NG Oil and Gas summit. The summit in <span class="xn-location">Ghana</span> is the perfect place to do business."</p> <p>The summit is set to provide the perfect environment for key decision makers to liaise and collaborate with their peers, discuss organisational strategies for the future, and establish meaningful working relationships with a dynamic selection of delegates, vendors and sponsors. Offering an alternative to the traditional conference format, the summits provide true innovation and value for money.</p> <p>GDS International's NG O&amp;G Africa Summit Director, <span class="xn-person">Ben Williams</span>, believes the exceptional content will once again place the NG O&amp;G Summit as the definitive event in the oil and gas industry in <span class="xn-location">Africa</span>. He says: "I am particularly excited about the keynote panel discussion on the first day of the summit, and the attendance of such a distinguished delegation. There will also be some exciting workshops from some of the largest service companies in the world, such as Tenaris, Capstone and NXT Energy services, as well as a presence from Nalco, Expro Group, Oceaneering and Intels Logistics."</p> <p>He continues: "We have high level executives attending from major operators such as BP, Total, African Petroleum, Vanco Exploration, <span class="xn-location">Angola's</span> NOC Sonangol and Shell, as well as <span class="xn-location">Africa's</span> most exciting operator - Tullow Oil - who will be discussing their operations in the Jubilee Field offshore <span class="xn-location">Ghana</span>, Onshore Uganda and also offshore <span class="xn-location">Kenya</span>."</p> <p>For more information, please visit: <a href="http://www.ngosummitafrica.com/">http://www.ngosummitafrica.com</a></p> <p style="FONT-WEIGHT: bold">About GDS International</p> <p>GDS International is one of the most innovative events and media companies worldwide - and a globally renowned producer of business-to-business summits, conferences, online information and advisory group gatherings. Founded in 1993, GDS International specialises in meeting the B2B marketing needs of our clients. Having a strong presence in mature industrial sectors but a finger on the pulse of emerging markets - as well as up-and-coming B2B business verticals - means we are perfectly placed to capitalise on the exciting developments brought about by the advent of a globalised economy. Our value proposition is simple: we deliver tangible business results from world-class events.</p> <p><a href="http://www.gdsinternational.com/">http://www.gdsinternational.com</a></p> <p>Contact: <span class="xn-person">Rachel Sandeman</span><br /> <a href="mailto:rachel.sandeman@gdsinternational.com">rachel.sandeman@gdsinternational.com</a><br /> +44-1179-261-421</p> <br /> </div> <img alt="" src="http://rt.prnewswire.com/rt.gif?NewsItemId=30061550en_Public&amp;Transmission_Id=201205140704PR_NEWS_EURO_ND__30061550en_Public&amp;DateId=20120514" style="border:0px; width:1px; height:1px;"/> GDS International Joins Forces with Africa's Oil and Gas Elite http://www.einpresswire.com/article/789868-gds-international-joins-forces-with-africa-s-oil-and-gas-elite http://www.einpresswire.com/article/789868-gds-international-joins-forces-with-africa-s-oil-and-gas-elite Mon, 14 May 2012 11:04:00 +0000 <div class="xn-newslines"> <h1 class="xn-hedline">GDS International Joins Forces with Africa's Oil and Gas Elite</h1> <p class="xn-distributor">PR Newswire</p> </div> <div class="xn-content"> <p><span class="xn-location">ACCRA, Ghana</span>, <span class="xn-chron">May 14, 2012</span> /PRNewswire/ --</p> <p>On 25<sup>th</sup> - 27<sup>th</sup> <span class="xn-chron">September 2012</span>, the La Palm Royal Beach Hotel, <span class="xn-location">Accra, Ghana</span>, will host a consortium of 65 C-level executives from the region's leading oil and gas companies for three days as they attend GDS International's highly anticipated sixth Next Generation Oil and Gas Africa Summit - <a href="http://www.ngosummitafrica.com/">http://www.ngosummitafrica.com</a></p> <p>The NG O&amp;G Africa Summit will serve as an arena for C-level executives to meet, network, and assess the rapidly evolving topography of the oil and gas industry in a lively, closed door environment. The summit has been carefully refined to cover cutting edge, region-specific issues that will be presented through a series of interactive workshops, roundtable discussions and moderated, peer-led panel discussions that give delegates the opportunity to meet with business analysts and solution providers to determine strategies and solutions for the year ahead and beyond. Key topics scheduled for discussion at this year's summit include exploration initiatives in Sub Saharan Africa, drilling and data management, through to disruptive and emerging technologies, and IT &amp; communication solutions.</p> <p>In attendance will be a selection of the industry's most prominent thought leaders who will be contributing to the direction of the summit through a series of topic-specific panel discussions. One such panel comprises <span class="xn-person">William T. Drennen III</span>, CEO <span class="xn-person">Vanco Exploration</span>; <span class="xn-person">Alastair Milne</span>, VP Exploration Sub-Saharan Africa Shell; <span class="xn-person">Jay Thorseth</span>, VP E&amp;P, BP Angola; and <span class="xn-person">Adrian Robinson</span>, Exploration Director for African Petroleum.</p> <p>William has recently become CEO of Vanco Exploration and is currently concentrating on expanding Vanco's interest in <span class="xn-location">Africa</span>. He has extensive global experience in the exploration field, and was previously SVP Exploration and New Ventures at Hess. He believes that the NG O&amp;G Africa summit will provide a unique platform from which to share best practices and generate key working relationships with peers. In his own words: "I am really looking forward to the panel at the NG Oil and Gas summit. The summit in <span class="xn-location">Ghana</span> is the perfect place to do business."</p> <p>The summit is set to provide the perfect environment for key decision makers to liaise and collaborate with their peers, discuss organisational strategies for the future, and establish meaningful working relationships with a dynamic selection of delegates, vendors and sponsors. Offering an alternative to the traditional conference format, the summits provide true innovation and value for money.</p> <p>GDS International's NG O&amp;G Africa Summit Director, <span class="xn-person">Ben Williams</span>, believes the exceptional content will once again place the NG O&amp;G Summit as the definitive event in the oil and gas industry in <span class="xn-location">Africa</span>. He says: "I am particularly excited about the keynote panel discussion on the first day of the summit, and the attendance of such a distinguished delegation. There will also be some exciting workshops from some of the largest service companies in the world, such as Tenaris, Capstone and NXT Energy services, as well as a presence from Nalco, Expro Group, Oceaneering and Intels Logistics."</p> <p>He continues: "We have high level executives attending from major operators such as BP, Total, African Petroleum, Vanco Exploration, <span class="xn-location">Angola's</span> NOC Sonangol and Shell, as well as <span class="xn-location">Africa's</span> most exciting operator - Tullow Oil - who will be discussing their operations in the Jubilee Field offshore <span class="xn-location">Ghana</span>, Onshore Uganda and also offshore <span class="xn-location">Kenya</span>."</p> <p>For more information, please visit: <a href="http://www.ngosummitafrica.com/">http://www.ngosummitafrica.com</a></p> <p style="FONT-WEIGHT: bold">About GDS International</p> <p>GDS International is one of the most innovative events and media companies worldwide - and a globally renowned producer of business-to-business summits, conferences, online information and advisory group gatherings. Founded in 1993, GDS International specialises in meeting the B2B marketing needs of our clients. Having a strong presence in mature industrial sectors but a finger on the pulse of emerging markets - as well as up-and-coming B2B business verticals - means we are perfectly placed to capitalise on the exciting developments brought about by the advent of a globalised economy. Our value proposition is simple: we deliver tangible business results from world-class events.</p> <p><a href="http://www.gdsinternational.com/">http://www.gdsinternational.com</a></p> <p>Contact: <span class="xn-person">Rachel Sandeman</span><br /> <a href="mailto:rachel.sandeman@gdsinternational.com">rachel.sandeman@gdsinternational.com</a><br /> +44-1179-261-421</p> <br /> <p>SOURCE GDS International</p> </div> <img alt="" src="http://rt.prnewswire.com/rt.gif?NewsItemId=UKM959&amp;Transmission_Id=201205140704PR_NEWS_USPR_____UKM959&amp;DateId=20120514" style="border:0px; width:1px; height:1px;"/> Energy Harvesting in Action http://www.einpresswire.com/article/785278-energy-harvesting-in-action http://www.einpresswire.com/article/785278-energy-harvesting-in-action Wed, 09 May 2012 12:01:39 +0000 <div class="xn-newslines"> <h1 class="xn-hedline">Energy Harvesting in Action</h1> <p class="xn-distributor">PR Newswire</p> </div> <div class="xn-content"> <p /> <p><span class="xn-location">NEW YORK</span>, <span class="xn-chron">May 9, 2012</span> /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:</p> <p><b><a href="http://www.reportlinker.com/p0184197/Energy-Harvesting-in-Action.html#utm_source=prnewswire&amp;utm_medium=pr&amp;utm_campaign=Consumer_Electronics" target="_blank">Energy Harvesting in Action</a></b></p> <p>http://www.reportlinker.com/p0184197/Energy-Harvesting-in-Action.html#utm_source=prnewswire&amp;utm_medium=pr&amp;utm_campaign=Consumer_Electronics</p> <p><b>Ambient energy</b></p> <p>Energy harvesting is the use of ambient energy to provide electricity for small and or mobile equipment, whether electrical or electronic. It is concerned with providing relatively maintenance free, long life equipment, reducing the need for batteries. As is typical in relatively new technologies, there is much hype about energy harvesting and it is tough to find which countries, technologies and suppliers see success and why. This report answers those questions using hard facts.</p> <p>Those wishing to use energy harvesting need reassurance that it is a technology that has progressed beyond trials and new product announcements. They need to benchmark best practice. In addition, those supplying, financing and otherwise involved in energy harvesting need to identify the successful suppliers, technologies and users and learn from the failures out there. This new report provides the answers, with analysis of a considerable number of case studies concerning ongoing successful use of energy harvesting. Those needing market forecasts, technology trends, researchers, aspiring suppliers and value chain should read the sister report by IDTechEx &#34;Energy Harvesting and Storage for Electronic Devices 2012-2022&#34;.</p> <p><b>Uses of energy harvesting</b></p> <p>This report looks exclusively at use of energy harvesting beyond new product announcements and trials. It examines the benefits of each project and reasons for success and failure. Winning countries, technologies, suppliers and applications are identified from hard facts. These facts, taken in conjunction with IDTechEx value analysis of the energy harvesting market and the progress of technology improvements, are used to project what will be the successes in the next five years in terms of adoption, rather than just trial, of energy harvesting. We give the reasons why. This report is intended for all involved in the energy harvesting value chain, including legislators, governments, standards bodies and investors. Benchmark your success and failure and optimise your future approach based on measured evidence. It is all here.</p> <p> </p> <p>1. EXECUTIVE SUMMARY AND CONCLUSIONS</p> <p>1.1. Most successful applicational sectors</p> <p>1.2. Winning territories and their emphasis</p> <p>2. INTRODUCTION</p> <p>2.1. Definition</p> <p>2.2. Size and structure of the market</p> <p>2.3. Benefits</p> <p>2.4. Primary energy harvesting needs</p> <p>2.5. Types of energy harvesting</p> <p>2.5.1. Technologies likely to succeed in future</p> <p>2.5.2. Using several technologies together</p> <p>2.5.3. Payback from energy harvesting</p> <p>2.5.4. Importance of the Third World</p> <p>3. THIRD WORLD AND HEALTHCARE SUCCESS</p> <p>3.1. <span class="xn-location">Afghanistan</span> laptop computers</p> <p>3.2. <span class="xn-location">Brazil</span>, <span class="xn-location">Botswana</span>, Palestine West Bank solar charged hearing aid</p> <p>3.3. <span class="xn-location">Burundi</span> mobile phones</p> <p>3.4. <span class="xn-location">Haiti</span> &#34;<span class="xn-person">Faith Comes</span> by Hearing&#34; electronic bibles</p> <p>3.5. <span class="xn-location">India</span> solar powered refrigeration</p> <p>3.6. <span class="xn-location">Kenya</span> mobile phone</p> <p>3.7. South Africa Freeplay foetal heart monitor</p> <p>3.8. South Africa Freeplay radio</p> <p>3.9. <span class="xn-location">Uganda</span> mobile phone</p> <p>3.10. <span class="xn-location">Uganda</span>, <span class="xn-location">Tanzania</span>, <span class="xn-location">Kenya</span>, <span class="xn-location">Rwanda</span>, <span class="xn-location">Namibia</span>, <span class="xn-location">Zambia</span>, payphone</p> <p>4. MILITARY AND AEROSPACE SUCCESS</p> <p>4.1. Canada Trudeau International Airport</p> <p>4.2. China National Space Administration satellites</p> <p>4.3. France European Space Agency satellites</p> <p>4.4. India Space Research Organisation satellites</p> <p>4.5. Japan Aerospace Exploration Agency</p> <p>4.6. <span class="xn-location">Switzerland</span> solar plane</p> <p>4.7. UK satellites</p> <p>4.8. <span class="xn-location">USA</span> aircraft AeroVironment</p> <p>4.9. <span class="xn-location">USA</span> Amerigon fuel cells</p> <p>4.10. <span class="xn-location">USA</span> <span class="xn-location">Germany</span> robot jellyfish</p> <p>4.11. <span class="xn-location">USA</span> military guidance system tester</p> <p>4.12. <span class="xn-location">USA</span> Military land vehicles</p> <p>4.13. <span class="xn-location">USA</span> NASA on Mars- planetary exploration vehicles</p> <p>4.14. <span class="xn-location">USA</span> NASA satellites and space vehicles</p> <p>4.15. <span class="xn-location">USA</span> Textron Bell helicopter sensing</p> <p>5. MARINE SUCCESSES</p> <p>5.1. Brazil Yacht Ferretti environmental controls</p> <p>5.2. <span class="xn-location">Italy</span> mooring buoys</p> <p>5.3. <span class="xn-location">Japan</span> lighthouses</p> <p>5.4. <span class="xn-location">Japan</span> sea buoys</p> <p>5.5. <span class="xn-location">Switzerland</span> electric boats</p> <p>5.6. UK Rolls Royce turbines</p> <p>5.7. UK sea buoys</p> <p>5.8. <span class="xn-location">USA</span> sea buoys</p> <p>5.9. <span class="xn-location">USA</span> sea gliders Liquid Robotics</p> <p>6. SUCCESS IN BUILDINGS AND INDUSTRIAL SITES</p> <p>6.1. Austria Uniqa tower controls</p> <p>6.2. Brazil Philips intelligent lighting</p> <p>6.3. Brazil SMT Sandvik headquarters controls</p> <p>6.4. Canada Club Intrawest Whistler</p> <p>6.5. Canada IKEA Brossard</p> <p>6.6. <span class="xn-location">Canada</span> institute de Cardiologie controls</p> <p>6.7. Canada Olympic Village Whistler</p> <p>6.8. Canada Promutuel insurance building controls</p> <p>6.9. Canada Promutuel insurance building controls</p> <p>6.10. Canada Regulvar office controls</p> <p>6.11. Canada St Andrew&#39;s Cathedral Victoria</p> <p>6.12. Canada St Joseph Elementary School</p> <p>6.13. Canada <span class="xn-org">The Citadel</span> of <span class="xn-location">Quebec</span></p> <p>6.14. Canada Zero Energy Green Home</p> <p>6.15. France Nestlé headquarters controls</p> <p>6.16. Germany Adidas Herzogenaurach building controls</p> <p>6.17. Germany Agnes Karl Hospital Laartzen controls</p> <p>6.18. Germany <span class="xn-person">Alexander Wacker Haus</span> building controls</p> <p>6.19. Germany AVIVA Munich controls</p> <p>6.20. Germany AXA Maschinenbau</p> <p>6.21. Germany BSC headquarters building automation</p> <p>6.22. Germany Elementary School Bromskirchen</p> <p>6.23. Germany Festo AG Technology Center Hamburg</p> <p>6.24. Germany Hotel Platzl controls</p> <p>6.25. Germany Hotel Winkler Brau</p> <p>6.26. Germany ICE Phoenix headquarters controls</p> <p>6.27. Germany Juwi Headquarters controls</p> <p>6.28. Germany Kaispeicher building controls</p> <p>6.29. Germany MAN Werk Munich controls</p> <p>6.30. Germany MDS Landesfunkhaus Thuringia</p> <p>6.31. Germany Medical Center of Quedlinberg controls</p> <p>6.32. Germany Messe Frankfurt</p> <p>6.33. Germany Milk production Facility Hocheifel</p> <p>6.34. Germany Mueritz Clinic Waren controls</p> <p>6.35. Germany Multimedia Center Hamburg</p> <p>6.36. <span class="xn-location">Germany</span> OS3 office building controls</p> <p>6.37. Germany Premino 11 office building controls</p> <p>6.38. <span class="xn-location">Germany</span> residential building Rothermel</p> <p>6.39. <span class="xn-location">Germany</span> residential buildings Schorndorf</p> <p>6.40. Germany Rolandsbruecke office building <span class="xn-location">Hamburg</span></p> <p>6.41. Germany SAP Headquarters Walldorf</p> <p>6.42. Germany Semper Opera Dresden controls</p> <p>6.43. Germany Siemens Munich</p> <p>6.44. Germany Slab Method Housing Estate Neurippon</p> <p>6.45. Germany Suddeutsches Kunstoffzentrum Wurtzburg</p> <p>6.46. Germany Takko headquarters</p> <p>6.47. Germany Thermokon extension controls</p> <p>6.48. Germany Weberhaus</p> <p>6.49. <span class="xn-location">Japan</span> - East Japan Railway Company</p> <p>6.50. Luxembourg School Axima controls</p> <p>6.51. Netherlands DZ railway station</p> <p>6.52. New Zealand University Hall Canterbury controls</p> <p>6.53. Norway Grenseveien office building controls</p> <p>6.54. <span class="xn-location">Spain</span> building controls</p> <p>6.55. <span class="xn-location">Spain</span> senior residence</p> <p>6.56. Spain <span class="xn-person">Torre Espacio</span> controls</p> <p>6.57. Switzerland AGS Basel building controls</p> <p>6.58. Switzerland IBM Haltstetter controls</p> <p>6.59. <span class="xn-location">Switzerland</span> office building renovation controls</p> <p>6.60. Switzerland Timbered building</p> <p>6.61. UAE Hotel Kempinski controls</p> <p>6.62. UK Club Surya dance floor</p> <p>6.63. UK Mond laboratory renovation controls</p> <p>6.64. UK staircase The Facility</p> <p>6.65. <span class="xn-location">USA</span> 1000 Continental King of Prussia</p> <p>6.66. <span class="xn-location">USA</span> <span class="xn-person">Bryan High School</span></p> <p>6.67. <span class="xn-location">USA</span> Hotel Kahana Falls Hawaii</p> <p>6.68. <span class="xn-location">USA</span> Industrial automation etc</p> <p>6.69. <span class="xn-location">USA</span> Leggat McCall building lighting-control</p> <p>6.70. <span class="xn-location">USA</span> <span class="xn-location">Park City Utah</span></p> <p>6.71. <span class="xn-location">USA</span> Perrysburg Gym lighting controls</p> <p>6.72. <span class="xn-location">USA</span> Pulse Switch Systems building controls</p> <p>6.73. <span class="xn-location">USA</span> University Art Museum New Haven</p> <p>6.74. <span class="xn-location">USA</span> VA Medical Center</p> <p>6.75. <span class="xn-location">USA</span> Wyndham Hotels access controls</p> <p>7. AUTOMOTIVE, ROAD AND RAILWAY SUCCESSES</p> <p>7.1. Denmark <span class="xn-location">USA</span> <span class="xn-location">Copenhagen</span> bicycle</p> <p>7.2. <span class="xn-location">France</span>, Italy Bluecar</p> <p>7.3. Japan Honda cars</p> <p>7.4. Japan Nissan Capacitor Hybrid truck</p> <p>7.5. Japan Toyota Prius</p> <p>7.6. Sweden Volvo hybrid bus</p> <p>7.7. UK 2012 Olympic Games staircase</p> <p>7.8. UK Think Formula One racing</p> <p>7.9. <span class="xn-location">USA</span> Cruise Car golf carts</p> <p>7.10. <span class="xn-location">USA</span> Fisker Karma car</p> <p>7.11. <span class="xn-location">USA</span> Tesla car</p> <p>7.12. <span class="xn-location">USA</span> train brakes</p> <p>7.13. <span class="xn-location">USA</span> wireless PulseSwitch</p> <p>8. OUTDOOR INFRASTRUCTURE AND ANIMAL APPLICATIONS</p> <p>8.1. Antarctica E-Base</p> <p>8.2. China media wall</p> <p>8.3. Germany Playmobil Fun park Zirndorf controls</p> <p>8.4. Israel Power Paving</p> <p>8.5. Korea street signs</p> <p>8.6. Norway Shell Nyhamma gas plant sensors</p> <p>8.7. <span class="xn-location">Spain</span> solar bus stop</p> <p>8.8. <span class="xn-location">Switzerland</span> rock fall monitor</p> <p>8.9. UK Sainsbury car park</p> <p>8.10. <span class="xn-location">USA</span> <span class="xn-location">Australia</span> - smart grid sensing TelepathX</p> <p>8.11. <span class="xn-location">USA</span> BP gas pipelines</p> <p>8.12. <span class="xn-location">USA</span> desert tortoises</p> <p>8.13. <span class="xn-location">USA</span> Extramart Convenience Store</p> <p>8.14. <span class="xn-location">USA</span> garden snails</p> <p>8.15. <span class="xn-location">USA</span> Greece Corinth bridge monitoring</p> <p>8.16. <span class="xn-location">USA</span> Sarasota County street lighting</p> <p>8.17. USA Times Square displays</p> <p>9. CONSUMER ELECTRONICS SUCCESSES</p> <p>9.1. Austria Head Sports Intelligent Ski</p> <p>9.2. China Bluetooth headset</p> <p>9.3. China calculators Texet</p> <p>9.4. China Easy Energy handheld charger</p> <p>9.5. <span class="xn-person">China Fast Trak</span> lantern</p> <p>9.6. China hand cranked flashlight</p> <p>9.7. China High Tech Wealth solar phone</p> <p>9.8. China Hong Kong Mascotte phone charging bags</p> <p>9.9. China <span class="xn-location">Hong Kong</span> solar bag Mascotte</p> <p>9.10. China hybrid charger HYmini</p> <p>9.11. China in-wheel bicycle dynamo</p> <p>9.12. China piezoelectric gas lighter</p> <p>9.13. China solar garden lighting</p> <p>9.14. China solar mole repeller</p> <p>9.15. <span class="xn-location">Germany</span> &#34;bottle&#34; bicycle dynamo</p> <p>9.16. Germany Odersun phone charging bags</p> <p>9.17. <span class="xn-location">Germany</span> solar ski helmet</p> <p>9.18. Japan Casio solar wristwatches</p> <p>9.19. Japan Citizen wristwatches</p> <p>9.20. <span class="xn-location">Japan</span> educational toy Tamiya</p> <p>9.21. Japan Seiko kinetic watch</p> <p>9.22. <span class="xn-location">Japan</span> solar phone Sharp</p> <p>9.23. Japan Toppan Forms</p> <p>9.24. Korea solar touch phone Samsung</p> <p>9.25. <span class="xn-location">South Africa</span> foot powered charger</p> <p>9.26. Switzerland Swatch Group wristwatches</p> <p>9.27. <span class="xn-location">USA</span> <span class="xn-location">Australia</span> power umbrella</p> <p>9.28. <span class="xn-location">USA</span> iPod Touch</p> <p>9.29. <span class="xn-location">USA</span> rider powered motorcycle safety alarm</p> <p>9.30. <span class="xn-location">USA</span> solar powered Amazon Kindle</p> <p>9.31. <span class="xn-location">USA</span> Voltaic Systems bag charger</p> <p>9.32. <span class="xn-location">USA</span> wheel generator stroller</p> <p>APPENDIX 1: GLOSSARY</p> <p>APPENDIX 2: IDTECHEX PUBLICATIONS AND CONSULTANCY</p> <p> </p> <p><b>To order this report:</b></p> <p><b><a href="http://www.reportlinker.com/ci02060/Consumer-Electronics.html#utm_source=prnewswire&amp;utm_medium=pr&amp;utm_campaign=Consumer_Electronics" target="_blank">Consumer Electronics Industry</a>: </b><a href="http://www.reportlinker.com/p0184197/Energy-Harvesting-in-Action.html#utm_source=prnewswire&amp;utm_medium=pr&amp;utm_campaign=Consumer_Electronics" target="_blank">Energy Harvesting in Action</a></p> <p>More <a href="http://www.reportlinker.com/" target="_blank">Market Research Report</a></p> <p>Check our <a href="http://www.reportlinker.com/news/" target="_blank">Industry Analysis and Insights</a></p> <p> </p> <p>CONTACT: </p> <p>Nicolas Bombourg<br/>Reportlinker<br/>Email: <a href="mailto:nbo@reportlinker.com">nbo@reportlinker.com</a><br/>US: (805)652-2626<br/>Intl: +1 805-652-2626<br/></p> <p>SOURCE Reportlinker</p> </div> <img alt="" src="http://rt.prnewswire.com/rt.gif?NewsItemId=SP03894&amp;Transmission_Id=201205090801PR_NEWS_USPR_____SP03894&amp;DateId=20120509" style="border:0px; width:1px; height:1px;"/> Renewable Electricity Trading, Business Insight http://www.einpresswire.com/article/784902-renewable-electricity-trading-business-insight http://www.einpresswire.com/article/784902-renewable-electricity-trading-business-insight Wed, 09 May 2012 10:48:34 +0000 <div class="xn-newslines"> <h1 class="xn-hedline">Renewable Electricity Trading, Business Insight</h1> <p class="xn-distributor">PR Newswire</p> </div> <div class="xn-content"> <p><span class="xn-location">NEW YORK</span>, <span class="xn-chron">May 9, 2012</span>  /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:</p> <p /><b><a href="http://www.reportlinker.com/p0788283/Renewable-Electricity-Trading-Business-Insight.html#utm_source=prnewswire&amp;utm_medium=pr&amp;utm_campaign=Electric_power_energy" target="_blank">Renewable Electricity Trading, Business Insight</a></b> <p>http://www.reportlinker.com/p0788283/Renewable-Electricity-Trading-Business-Insight.html#utm_source=prnewswire&amp;utm_medium=pr&amp;utm_campaign=Electric_power_energy </p> <p><description><introduction><paragraph>The report is targeted at companies active in the power generation and supply market and in related markets. It aims to provide insights and stimulate discussion on how best to take advantage of the growth and development of renewable power, by monetizing it via market-based mechanisms. The focus is primarily on wholesale trading, although adjacent elements of the value chain are also considered.</paragraph></introduction><scope><bulletpoint>Understand both the recent growth in renewable power generation and the medium-term trends emerging in today&#39;s political and economic environment.</bulletpoint><bulletpoint>Recognize how regulators incentivize renewable power generation through market-based tradable instruments, and how this affects industry participants.</bulletpoint><bulletpoint>Evaluate the instruments, market frameworks and intermediaries available for wholesale trading of renewable power and their relevance to your company.</bulletpoint><bulletpoint>Identify how wholesale trading of renewable power is affecting your business now, and how it is likely to evolve and impact your company in future.</bulletpoint><bulletpoint>Gain confidence that your company&#39;s investment strategy and business model are &#34;future-proof&#34; and in line with the emerging power market trends.</bulletpoint></scope><highlights><paragraph>There are three main levers available to governments to incentivize renewable power: cost, revenue, and financing terms. It is the first two of these that form the basis of tradable instruments that an act as proxies for renewable power as such: tax exemptions (in the form of environmental tax waivers) and renewable power quotas or obligations.</paragraph><paragraph>Economic benefits associated with renewable power tend to be traded separately from the power itself, in the form of instruments such as Renewable Obligation Certificates, Renewable Energy Guarantees of Origin, and Climate Change Levy exemption certificates. As the market is not yet very liquid, specialist brokers have sprung up to facilitate this.</paragraph><paragraph>Currently, trading in renewable instruments is a peripheral activity for utilities, little integrated with core business processes. Its impact is mostly felt through higher compliance costs and increased administrative complexity, reflecting the subscale nature of renewable power at present. This will change once renewables reach a &#34;critical mass.&#34;</paragraph></highlights><purchasereasons><bulletpoint>What are the economic and regulatory drivers behind the recent growth of renewable power trading, and how are they likely to evolve in the future?</bulletpoint><bulletpoint>What are the organizational arrangements and market instruments through which industry participants engage in trading renewable power?</bulletpoint><bulletpoint>How is renewable power trading impacting energy utilities today, and how is this likely to change if and when renewable power grows in scale?</bulletpoint><bulletpoint>What are the main barriers preventing renewable power from being a more central part of the electricity value chain, including wholesale trading?</bulletpoint><bulletpoint>When might the &#34;critical mass&#34; of renewable power production be reached in the world&#39;s leading markets, and are all the conditions in place for that?</bulletpoint></purchasereasons></description></p> <p>Dr Mikhail Masokin•DisclaimerEXECUTIVE SUMMARY•Introduction to report•Market context•Renewables within wholesale energy trading•Impact on market participants•Conditions for strong future growthIntroduction to report•Summary•Introduction•Why renewables?•Report objectives•Scope of coverage?Value chain coverage?Geographic coverage•Report structureMarket context•Summary•Introduction•Renewable energy within the climate change agenda?Man-made climate change?Kyoto process•Regulatory regimes for incentivizing renewable power?Types of incentives?Selection criteria?Geographical variations•Global growth of renewable generation?EU, <span class="xn-location">China</span> and US driving global growth?Wind remaining the dominant technology?Renewable versus conventional electricity production•ConclusionRenewables within wholesale energy trading•Summary•Introduction•Principal power trading regimes and mechanisms?Types of power trading regimes?Trading mechanisms in leading power markets•Tradable renewable instruments?Decoupling?Types of renewable instruments•Trading arrangements?United States?UK•ConclusionImpact on market participants•Summary•Introduction•Current impact – mostly negative but moderate in scale?Factors creating an impact?Consequences for the market participants?Nature and magnitude of impact?Summary of impact•What if renewable generation continues to grow strongly??Structural convergence?Product convergence?Impact on utilities&#39; economic decisions•ConclusionConditions for strong future growth•Summary•Introduction•Time-frame for a critical mass•Feasibility of continuing growth?Are the economics favourable??Will the physical infrastructure be available??Will the political support remain in place?•ConclusionAppendix•Bibliography/References</p> <b>TABLES <p /></b>•Table: Top 15 countries by nominal GDP (US$m), 2010 <p>•Table: Global renewable generation capacity by geography (GW), 2006-10</p> <p>•Table: Global renewable generation capacity by technology (GW), 2006-10</p> <p>•Table: Global production of electricity from renewable sources (TWh), 2006-10</p> <p>•Table: Renewable generation versus total electricity production (TWh), 2007-15</p> <p>•Table: NEPOOL market participants, 2011</p> <p>•Table: Sample Nord Pool trading volumes and prices (MWh, Euro), <span class="xn-chron">19/09/2011</span></p> <p>•Table: ROC auction prices in the UK versus buyout prices (£/ROC), 2011</p> <p>•Table: Impact of renewables trading on market participants (qualitative), 2011</p> <p>•Table: Impact of a 20% Renewable Portfolio Standard on <span class="xn-location">California</span>&#39;s CCGT plant (MWh, Tons, <span class="xn-money">US$000</span>), 2012 </p> <p>•Table: Example of renewables as 50% of total power traded by a utility (TWh, %), 2012</p> <p>•Table: Real GDP YoY change in selected leading economies (%), 2000-20</p> <p>•Table: Government debt as proportion of GDP in OECD countries (%), 2000-10</p> <p>•Table: US and UK national debt projections ($ trillion, £ trillion), 2010-21</p> <p>•Table: Changes in support to renewable generators in the UK (ROC/MWh), 2011-17</p> <p>•Table: Annual household impact of the Renewable Obligation on UK consumers (£), 2011-16</p> <p>•Table: Levelized generation cost by technology in the US ($/MWh), 2016 (e)</p> <b>FIGURES <p /></b>•Figure: Value-chain focus of the report, 2012 <p>•Figure: Top 15 countries by nominal GDP (US$m), 2010</p> <p>•Figure: Types of incentives in relation to project economics, 2011</p> <p>•Figure: Global renewable generation capacity by geography (GW), 2006-10</p> <p>•Figure: Global renewable generation capacity by technology (GW), 2006-10</p> <p>•Figure: Global production of electricity from renewable sources (TWh), 2006-10</p> <p>•Figure: Renewable generation versus total electricity production (%), 2007-15</p> <p>•Figure: Electricity pool system in <span class="xn-location">Thailand</span></p> <p>•Figure: Electricity trading in a bilateral market (UK example), 2011</p> <p>•Figure: Regional electricity markets in the US, 2011</p> <p>•Figure: Main activities and market participants in the UK bilateral market, 2011</p> <p>•Figure: Sample Nord Pool trading volumes and prices (MWh, Euro), <span class="xn-chron">19/09/2011</span></p> <p>•Figure: ROC auction prices in the UK versus buyout prices (£/ROC), 2011</p> <p>•Figure: Screenshot of e-ROC participant&#39;s web interface, 2011</p> <p>•Figure: Impact of renewables trading on market participants (qualitative), 2011</p> <p>•Figure: Impact of a 20% Renewable Portfolio Standard on <span class="xn-location">California</span>&#39;s CCGT plant (% change), 2012</p> <p>•Figure: Real GDP YoY change in US and EU15 (%), 1990-2020</p> <p>•Figure: Bank of <span class="xn-location">England</span>&#39;s estimates of past and recent UK GDP YoY Growth (%), 2007-14</p> <p>•Figure: Government debt as proportion of GDP in top 10 OECD countries (%), 2006-10</p> <p>•Figure: US and UK national debt projections (Index, 2010=100), 2010-21</p> <p>•Figure: Real GDP YoY change in selected emerging economies (%), 2000-20</p> <p>•Figure: Annual household impact of the Renewable Obligation on UK consumers (£), 2011-16</p> <p>•Figure: Levelized generation cost by technology in the US ($/MWh), 2016 (e)</p> <b>Companies mentionned</b> <p>Bank of <span class="xn-location">England</span>, BP Plc, Devoteam SA, Georgia-Pacific LLC, Hess Corporation, Hutchison 3G UK Limited, National Grid plc, Nord Pool Spot AS, Publicis Groupe SA, Schindler Holding Ltd., Sempra Energy, Uralsvyazinform OJSC</p> <b>To order this report:<a href="http://www.reportlinker.com/ci01337/Electric-power-energy.html#utm_source=prnewswire&amp;utm_medium=pr&amp;utm_campaign=Electric_power_energy" target="_blank">Electric power energy Industry</a>: </b><a href="http://www.reportlinker.com/p0788283/Renewable-Electricity-Trading-Business-Insight.html#utm_source=prnewswire&amp;utm_medium=pr&amp;utm_campaign=Electric_power_energy" target="_blank">Renewable Electricity Trading, Business Insight</a> <p>More  </p> <a href="http://www.reportlinker.com/" target="_blank">Market Research Report</a> <p>Check our  </p> <a href="http://www.reportlinker.com/news/" target="_blank">Industry Analysis and Insights</a> <p /> <p>Nicolas Bombourg<br/>Reportlinker<br/>Email: <a href="mailto:nicolasbombourg@reportlinker.com" target="_blank">nicolasbombourg@reportlinker.com</a><br/>US: (805)652-2626<br/>Intl: +1 805-652-2626</p> <p> </p> <p /> <p>SOURCE Reportlinker</p> </div> <img alt="" src="http://rt.prnewswire.com/rt.gif?NewsItemId=SP03855&amp;Transmission_Id=201205090648PR_NEWS_USPR_____SP03855&amp;DateId=20120509" style="border:0px; width:1px; height:1px;"/> Court Ordered Notice Program About Two Deepwater Horizon Oil Spill Settlements Is Initiated http://www.einpresswire.com/article/783828-court-ordered-notice-program-about-two-deepwater-horizon-oil-spill-settlements-is-initiated http://www.einpresswire.com/article/783828-court-ordered-notice-program-about-two-deepwater-horizon-oil-spill-settlements-is-initiated Tue, 08 May 2012 15:00:00 +0000 <div class="xn-newslines"> <h1 class="xn-hedline">Court Ordered Notice Program About Two Deepwater Horizon Oil Spill Settlements Is Initiated</h1> <p class="xn-distributor">PR Newswire</p> </div> <div class="xn-content"> <p /> <p /> <p><span class="xn-location">NEW ORLEANS</span>, <span class="xn-chron">May 8, 2012</span> /PRNewswire/ -- A notification effort ordered by the United States District Court for the Eastern District of <span class="xn-location">Louisiana</span> is beginning today to notify people, businesses and other entities about two separate proposed settlements with BP Exploration &amp; Production Inc. and BP America Production Company (&#34;BP&#34;) related to the Deepwater Horizon oil spill. BP has estimated the cost of the proposed settlement to be approximately <span class="xn-money">$7.8 billion</span>. The total amount BP will pay to settle valid claims is uncapped, and the ultimate cost will depend on the actual outcomes of the court-supervised claims processes.</p> <p>People may be affected by one or both settlements. In each settlement, Class Members have separate legal rights and options, including submitting claims for benefits, opting out or objecting to each settlement.</p> <p>The Economic and Property Damages Settlement (or &#34;E&amp;PD Settlement&#34;) includes people, businesses and other entities who live, work, conduct business operations and/or own/lease property in the states of <span class="xn-location">Louisiana</span>, <span class="xn-location">Mississippi</span>, and <span class="xn-location">Alabama</span>, along with specified <span class="xn-location">Texas</span> and <span class="xn-location">Florida</span> counties. The E&amp;PD Settlement generally covers the following types of claims: 1) Seafood Compensation; 2) Economic Loss; 3) Loss of Subsistence; 4) Vessel Physical Damage; 5) Vessels of Opportunity Charter Payment; 6) Coastal Real Property Damage; 7) Wetlands Real Property Damage; and 8) Real Property Sales Damage. In addition to compensation for actual damage, payments to eligible claimants may include a multiplier related to unknown future damage.</p> <p>The Medical Benefits Settlement (or &#34;Medical Settlement&#39;) includes &#34;Clean-Up Workers&#34; and people who resided during specified periods in 2010 in specific coastal areas and wetlands areas. Medical Settlement benefits include (a) payments for Specified Physical Conditions including reimbursement of hospital expenses, (b) a 21-year Periodic Medical Consultation Program, and (c) a $105 million Gulf Region Health Outreach Program, available to all Gulf residents, Class Members and non-Class Members alike, in order to strengthen healthcare capacity and increase health literacy throughout the region.</p> <p>Detailed information on the two settlements can be found at the settlement website, DeepwaterHorizonSettlements.com. The website has detailed maps that allow users to see if a geographic location may be included within one or more zones.</p> <p>Notices will be mailed to known potential Class Members and are scheduled to appear in thousands of media outlets over the next 60 days in English, Spanish and Vietnamese. Notices are to appear in Gulf Coast daily newspapers, print publications, television and radio spots and on Internet websites. A parallel nationwide media effort includes well-read consumer magazines, trade publications and highly-trafficked Internet websites.</p> <p>The Court has appointed <span class="xn-person">Stephen J. Herman</span> (Lead Class Counsel), <span class="xn-person">James Parkerson Roy</span> (Lead Class Counsel), <span class="xn-person">Brian H. Barr</span>, <span class="xn-person">Jeffery A. Breit</span>, Elizabeth J. Cabraser, <span class="xn-person">Philip F. Cossich, Jr.</span>, <span class="xn-person">Robert T. Cunningham</span>, <span class="xn-person">Alphonso Michael Espy</span>, <span class="xn-person">Calvin C. Fayard, Jr.</span>, <span class="xn-person">Robin L. Greenwald</span>, <span class="xn-person">Ervin A. Gonzalez</span>, <span class="xn-person">Rhon E. Jones</span>, <span class="xn-person">Matthew E. Lundy</span>, <span class="xn-person">Michael C. Palmintier</span>, <span class="xn-person">Joseph F. Rice</span>, <span class="xn-person">Paul M. Sterbcow</span>, <span class="xn-person">Scott Summy</span>, <span class="xn-person">Mikal C. Watts</span> and <span class="xn-person">Conrad S. P. Williams</span> as Proposed Settlement Class Counsel to represent each of the Settlement Classes.</p> <p>Class Members can submit a claim to either or both Settlements, or they can ask to be excluded from, or object to, either or both Settlements. The deadline to object to either or both settlements is <b><span class="xn-chron">August 31, 2012</span></b>. The deadline to request exclusion from either or both settlements is <b><span class="xn-chron">October 1, 2012</span></b>.</p> <p>The deadline to submit most E&amp;PD claims will be <span class="xn-chron">April 22, 2014</span> or six months after the E&amp;PD Settlement becomes effective (that is, after the Court grants &#34;final approval&#34; and any appeals are resolved), whichever is later. There will be an earlier deadline to submit E&amp;PD Seafood Compensation claims. The earlier deadline to submit Seafood Compensation claims will be 30 days after final approval of the Settlement by the United States District Court for the Eastern District of <span class="xn-location">Louisiana</span> (regardless of appeals). The deadline to submit Medical Benefits claims is one year after the Medical Settlement becomes effective (that is, after the Court grants &#34;final approval&#34; and any appeals are resolved). Exact claim filing deadlines will be posted on the website as they become available.</p> <p>With the exception of some Seafood Compensation Program claims, eligible E&amp;PD Settlement claims will be paid on a rolling basis and E&amp;PD Settlement claimants may receive payments before the Court considers whether to grant final approval. Medical Settlement benefits will not be issued until after the Court grants final approval and any appeals are resolved.</p> <p>A toll-free number, 1-866-992-6174 has been established in the case known as <i>In re: Oil Spill by </i><i>the Oil Rig &#34;Deepwater Horizon&#34; in the <span class="xn-location">Gulf of Mexico</span> on <span class="xn-chron">April 20, 2010</span>, </i>MDL No. 2179, along with a website, DeepwaterHorizonSettlements.com where notices, each Settlement Agreement and other documents may be obtained.</p> <p>Case #2:10-MD-02179-CJB-SS</p> <p> </p> <p>SOURCE United States District Court for the Eastern District of <span class="xn-location">Louisiana</span></p> </div> <img alt="" src="http://rt.prnewswire.com/rt.gif?NewsItemId=SF02763&amp;Transmission_Id=201205081100PR_NEWS_USPR_____SF02763&amp;DateId=20120508" style="border:0px; width:1px; height:1px;"/> Stone Energy Corporation Announces First Quarter 2012 Results http://www.einpresswire.com/article/782435-stone-energy-corporation-announces-first-quarter-2012-results http://www.einpresswire.com/article/782435-stone-energy-corporation-announces-first-quarter-2012-results Mon, 07 May 2012 20:07:00 +0000 <div class="xn-newslines"> <h1 class="xn-hedline">Stone Energy Corporation Announces First Quarter 2012 Results</h1> <p class="xn-distributor">PR Newswire</p> </div> <div class="xn-content"> <p><span class="xn-location">LAFAYETTE, La.</span>, <span class="xn-chron">May 7, 2012</span> Stone Energy Corporation (NYSE: SGY) today announced financial and operational results for the first quarter of 2012, and provided updated guidance. Some of the highlights include:</p> <ul type="disc"> <li>Net daily production for the first quarter of 2012 was 41.0 MBoe (246 MMcfe) per day, which is an increase of 13% when compared to the first quarter of 2011. </li> <li>The La Cantera/LaPosada (34.5% w.i.) onshore deep gas discovery well came on line in the first quarter and is producing at approximately 10 MMcfe per day net to Stone.  The second well, currently drilling at 15,000 feet, is targeting the same pay sands as the initial discovery well. </li> <li>Production commenced during the first quarter from the Pyrenees deep water subsea tie-back well at Garden Banks 293. Current production net to Stone is approximately 13 MMcfe per day.  Production from the Wideberth deep water subsea tie-back well commenced in late April. </li> <li>The transfer of operatorship at the recently acquired deep water Pompano field occurred ahead of schedule on <span class="xn-chron">March 1, 2012</span>. </li> <li>Debottlenecking of facility constraints in the Mary field resulted in first quarter net production from the Marcellus shale increasing to approximately 29 MMcfe per day. </li> <li>Stone completed a <span class="xn-money">$300 million</span> 1 3/4% senior convertible notes offering in early March. </li></ul> <p>CEO <span class="xn-person">David Welch</span> stated, &#34;The first quarter 2012 results continue to show the forward momentum and positive effects of diversifying our asset base with increases in production from our deep water, price-advantaged deep gas and Marcellus shale areas.  Deep water production rates have increased with the Pyrenees and Wideberth start-ups adding to the base production from the Pompano acquisition.  Deep gas production commenced from the La Cantera discovery well during the first quarter, with the second La Cantera well now drilling.  In addition, our Marcellus shale production is increasing while focusing on the liquids rich Mary and Heather fields.  The increased production, combined with the recent <span class="xn-money">$300 million</span> convertible notes issuance, creates a stable financial base upon which to continue to grow the company through exploration and acquisitions.&#34;</p> <p><b><u>Financial Results</u></b></p> <p>For the first quarter of 2012, Stone reported net income of <span class="xn-money">$51.0 million</span>, or <span class="xn-money">$1.03</span> per share, on oil and gas revenue of <span class="xn-money">$244.1 million</span>, compared to net income of <span class="xn-money">$39.8 million</span>, or <span class="xn-money">$0.81</span> per share, on oil and gas revenue of <span class="xn-money">$199.2 million</span> in the first quarter of 2011.  Discretionary cash flow totaled <span class="xn-money">$174.7 million</span> during the first quarter of 2012, as compared to <span class="xn-money">$140.3 million</span> during the first quarter of 2011. Please see &#34;Non-GAAP Financial Measures&#34; and the accompanying financial statements for a reconciliation of discretionary cash flow, a non-GAAP financial measure, to net cash flow provided by operating activities.  </p> <p>Daily production during the first quarter of 2012 averaged 41.0 thousand barrels of oil equivalent (MBoe) per day (246 million cubic feet of gas equivalent (MMcfe) per day), compared with daily production of 36.0 MBoe (216 MMcfe) per day in the fourth quarter of 2011, and daily production of 36.2 MBoe (217 MMcfe) per day in the first quarter of 2011.  First quarter of 2012 production mix was 50% oil, 5% natural gas liquids (NGL), and 45% natural gas.    </p> <p>Beginning in the first quarter of 2012, Stone began capturing and reporting natural gas liquids volumes and revenues separate from gas volumes.  In the past, Stone reported &#34;wet&#34; gas volumes, which included the NGL volumes, and provided for a positive upward adjustment in the realized natural gas price.  Stone will now report NGL and &#34;dry&#34; gas (shrunk for removal of liquids) volumes due to its rising NGL volumes. Reporting NGL and &#34;dry&#34; gas volumes separately yields a slight increase in overall equivalent volumes when compared to reporting &#34;wet&#34; gas volumes.  </p> <p>Prices realized during the first quarter of 2012 averaged <span class="xn-money">$108.36</span> per barrel of oil, <span class="xn-money">$67.26</span> per barrel of NGLs and <span class="xn-money">$2.89</span> per Mcf of natural gas.  Average realized prices for the first quarter of 2011 were <span class="xn-money">$94.06</span> per barrel of oil, <span class="xn-money">$46.87</span> per barrel of NGLs and <span class="xn-money">$4.53</span> per Mcf of natural gas. The average realized natural gas price of <span class="xn-money">$4.79</span> per Mcf previously reported for the first quarter of 2011 reflected the positive upward adjustment of the net NGL revenues which is now reported separately. Effective hedging transactions increased the average realized price of natural gas by <span class="xn-money">$0.48</span> per Mcf and decreased the average realized price of oil by <span class="xn-money">$3.13</span> per barrel in the first quarter of 2012.  </p> <p>Lease operating expenses during the first quarter of 2012 totaled <span class="xn-money">$44.5 million</span> (<span class="xn-money">$11.93</span> per Boe or <span class="xn-money">$1.99</span> per Mcfe), compared to <span class="xn-money">$38.3 million</span> (<span class="xn-money">$11.75</span> per Boe or <span class="xn-money">$1.96</span> per Mcfe), in the first quarter of 2011.</p> <p>Depreciation, depletion and amortization (DD&amp;A) on oil and gas properties for the first quarter of 2012 totaled <span class="xn-money">$83.8 million</span> (<span class="xn-money">$22.48</span> per Boe or <span class="xn-money">$3.75</span> per Mcfe), compared to <span class="xn-money">$66.4 million</span> (<span class="xn-money">$20.38</span> per Boe or <span class="xn-money">$3.40</span> per Mcfe), in the first quarter of 2011.</p> <p>Salaries, general and administrative (SG&amp;A) expenses for the first quarter of 2012 were <span class="xn-money">$13.7 million</span> (<span class="xn-money">$3.68</span> per Boe or <span class="xn-money">$0.61</span> per Mcfe), compared to <span class="xn-money">$11.7 million</span> (<span class="xn-money">$3.60</span> per Boe or <span class="xn-money">$0.60</span> per Mcfe), in the first quarter of 2011.  </p> <p>Capital expenditures before capitalized SG&amp;A and interest during the first quarter of 2012 were approximately <span class="xn-money">$88.4 million</span>, which includes <span class="xn-money">$3.8 million</span> of plugging and abandonment expenditures.  Additionally, <span class="xn-money">$5.6 million</span> of SG&amp;A expenses and <span class="xn-money">$8.7 million</span> of interest were capitalized during the first quarter of 2012. </p> <p>On <span class="xn-chron">March 6, 2012</span>, we issued <span class="xn-money">$300 million</span> of 1 ¾% Senior Convertible Notes due 2017 in a private offering. The conversion price is <span class="xn-money">$42.65</span> per share to the holders; however, utilizing a &#34;call-spread&#34; instrument, the effective conversion price to the company was increased to <span class="xn-money">$55.91</span> per share. For financial accounting purposes, the <span class="xn-money">$300 million</span> 1 ¾% Senior Convertible Notes were recorded on the balance sheet at a discount to face value with the debt component extrapolated using an assumed market interest rate.   </p> <p>Upon completion of the offering, our borrowing base under our bank credit facility was automatically reduced from <span class="xn-money">$400 million</span> to <span class="xn-money">$310 million</span>.  On <span class="xn-chron">May 4, 2012</span>, our borrowing base under our credit facility was increased back to <span class="xn-money">$400 million</span> after a semi-annual redetermination.  On <span class="xn-chron">March 31, 2012</span>, we had <span class="xn-money">$263.8 million</span> in cash, no outstanding borrowings under our bank credit facility and letters of credit totaling <span class="xn-money">$27.1 million</span>.  As of <span class="xn-chron">May 7, 2012</span>, we had no outstanding borrowings under our bank credit facility and letters of credit totaling <span class="xn-money">$27.1 million</span> had been issued pursuant to the facility, leaving <span class="xn-money">$372.9 million</span> of availability under the facility. </p> <p><b><u>Operational Update</u></b></p> <p><b>La Cantera (Deep Gas).</b>  The La Cantera/LaPosada discovery well began producing in March and is currently at a gross rate of approximately 27 MMcf of gas, 600 Bbl of oil and 950 Bbl of NGLs per day, or 10 MMcfe per day net to Stone.  In addition, a second well, the <span class="xn-location">Broussard</span> #2, is currently drilling at 15,000 feet.  The second well will target the same pay sands encountered in the initial discovery well and is expected to reach total depth of 18,900 feet in the third quarter of 2012.  Stone holds an approximate 34.5% working interest in this project. </p> <p><b>Pompano Field (<span class="xn-location">Deep Water</span>).</b>  The transfer of operatorship of the field from BP to Stone was completed in the first quarter of 2012.  Several workover/recompletion projects are ready to be executed during the second quarter, followed by a platform drilling program projected for 2013.  Current net production is approximately 3,400 Boe per day.</p> <p><b>Garden Banks 293 – Pyrenees (<span class="xn-location">Deep Water</span>).</b>   Production commenced from the Pyrenees deep water subsea tie-back well late in the first quarter of 2012.  The gross production rate is currently 31 MMcf per day and 2,200 Bbl per day (approximately 13 MMcfe per day net).  Stone holds a 30% non-operated working interest in Pyrenees.</p> <p><b>Green <span class="xn-location">Canyon</span> 490 – Wideberth (<span class="xn-location">Deep Water</span>).</b>   Production from the Wideberth discovery (acquired in the fourth quarter of 2011) commenced in late April.  The gross production rate is currently 35 MMcf per day and 3,200 Bbl per day (approximately 13 MMcfe per day net).  Stone holds a 25% non-operated working interest in Wideberth.</p> <p><b>Green <span class="xn-location">Canyon</span> 823 – <span class="xn-location">Parmer</span> (<span class="xn-location">Deep Water</span>). </b>The deep water <span class="xn-location">Parmer</span> step-out appraisal well is expected to spud late in the second quarter of 2012. The well is expected to drill for approximately three months, followed by a possible sidetrack.  Stone holds a 50% working interest in the prospect operated by Apache. </p> <p><b>Conventional Shelf.</b>  Drilling commenced on the second well of the 4-5 well program at the Ship Shoal 113 field. The first prospect, Smokin Rooster, was successful encountering 95 feet of pay with first production expected in May. The second prospect, Jointed Thunderstick, is currently drilling at 7,700 feet. The Lionfish prospect at South Pelto 23 is currently being completed with first production expected by early June. </p> <p><b>Lighthouse Bayou Deep Prospect (Ultra Deep Gas).</b>   Plans continue for the deepening of the Lighthouse Bayou prospect, located in <span class="xn-location">Cameron Parish</span>, below 25,500 feet. The Lighthouse Bayou deepening operation is currently projected to commence in 2013, subject to final technical review. Chevron is now the operator and Stone holds a 25% working interest in the prospect.  </p> <p><b>Appalachian Basin (<span class="xn-person">Marcellus Shale</span>).</b>  During the first quarter of 2012, the Caiman pipeline constraints from the Mary field were addressed allowing eleven Mary field wells from two pads to flow (at a slightly constrained rate) by the end of the first quarter.  Total first quarter net production from the Marcellus shale including volumes from the Mary, Heather, Buddy and Katie fields was approximately 29 MMcfe per day.  Drilling continues on the liquid rich Mary and Heather fields in <span class="xn-location">West Virginia</span> with a total of seven horizontal wells drilled year to date.  Stone has fracture-stimulated six more wells at its Mary field with first production from this new pad scheduled by early third quarter of 2012.  Additionally, fracture-stimulations have commenced on seven more wells in the Mary field, with first production anticipated by early fourth quarter of 2012.  Stone expects to drill between 22 and 27 horizontal wells and complete 20 to 26 wells in the Mary and Heather fields during 2012. </p> <p><b><u>2012 Guidance</u></b></p> <p>Guidance for the second quarter and full year 2012 has been updated (updated figures are italicized) and is shown in the table below. The guidance is subject to all the cautionary statements and limitations described below and under the caption &#34;Forward Looking Statements.&#34;</p> <div> <table style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; BORDER-COLLAPSE: collapse; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" border="0" cellspacing="0" cellpadding="0"><tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>Second </b></span></p> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>Quarter</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: top; BORDER-TOP: black 1pt solid; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>Full Year</b></span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Production - MBoe per day</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b><i>40 – 43</i></b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" rowspan="2"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b><i>41 – 45</i></b></span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">                    (MMcfe per day)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b><i>(240– 260)</i></b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b><i>(245 – 270)</i></b></span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Lease operating  expenses (in millions)</span></p> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(excluding transportation/processing expenses)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>-</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b><i>$195 - $210</i></b></span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Transportation, processing and gathering (in millions)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>-</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b><i>$22 - $28</i></b></span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Salaries, General &amp; Administrative expenses (in millions)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>-</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b><i>$48 - $52</i></b></span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(excluding incentive compensation)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Depreciation, Depletion &amp; Amortization (per Boe)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>-</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>$22.20 - $23.70</b></span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">                                                              (per Mcfe)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>$3.70 - $3.95</b></span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Corporate Tax Rate (%)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>-</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>35% - 37%</b></span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Capital Expenditure Budget (in millions)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>-</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>$625</b></span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">    (excluding acquisitions)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr></table></div> <p><b><u>Hedge Position</u></b></p> <p>The following table illustrates our derivative positions for 2012, 2013 and 2014 as of <span class="xn-chron">May 7</span>, 2012:  </p> <div> <table style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; BORDER-COLLAPSE: collapse; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" border="0" cellspacing="0" cellpadding="0"><tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="7"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>Fixed-Price Swaps</b></span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="7"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>NYMEX (except where noted)</b></span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="3"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>Natural Gas</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid; BORDER-RIGHT: 1pt" colspan="3"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>Oil</b></span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>Daily</b></span></p> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>Volume</b></span></p> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>(MMBtus/d)</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>Swap</b></span></p> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>Price</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>Daily</b></span></p> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>Volume</b></span></p> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>(Bbls/d)</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>Swap</b></span></p> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>Price</b></span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: left; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2012</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">10,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$5.035</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$90.30</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: left; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2012</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">10,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">5.040</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">90.41</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: left; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2012</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">10,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">5.050</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">90.45</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: left; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2012</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">95.50</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: left; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2012</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">97.60</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: left; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2012</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">98.15</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: left; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2012</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">100.00</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: left; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2012</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">101.55</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: left; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2012</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">104.25</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2012</span></p> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"> 1,000*</span></p> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">111.02</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: left; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2013</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">10,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">5.270</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">94.45</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: left; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2013</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">10,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">5.320</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">94.60</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: left; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2013</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">97.15</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: left; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2013</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">101.53</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: left; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2013</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">103.00</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: left; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2013</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">103.15</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: left; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2013</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">104.25</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: left; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2013</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">104.47</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: left; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2013</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">104.50</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2013</span></p> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"> 1,000*</span></p> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">107.30</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: left; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2014</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">98.00</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: left; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2014</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">98.30</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: left; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2014</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">99.65</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: left; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2014</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"> 1,000*</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">103.30</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: left; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: left; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="8"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"> * Brent oil contract</span></p> </td></tr></table></div> <p><b><u>Other Information </u></b></p> <p>Stone Energy has planned a conference call for <span class="xn-chron">10:00 a.m. Central Time</span> on <span class="xn-chron">Tuesday, May 8, 2012</span> to discuss the operational and financial results for the first quarter of 2012. Anyone wishing to participate should visit our website at <a href="http://www.stoneenergy.com/" target="_blank">www.StoneEnergy.com</a> for a live web cast or dial 1-877-228-3598 and request the &#34;Stone Energy Call.&#34;  If you are unable to participate in the original conference call, a replay will be available immediately following the completion of the call on Stone Energy&#39;s website.  The replay will be available for one month.</p> <p>In addition, as previously announced, Stone Energy will hold its 2012 Annual Meeting of Stockholders on <span class="xn-chron">Thursday, May 24, 2012</span>, at <span class="xn-chron">10:00 a.m., CDT</span>, at the Windsor Court Hotel, 300 Gravier Street, <span class="xn-location">New Orleans</span>, Louisiana.  The Company proposes to elect ten directors, to ratify the appointment of Ernst &amp; Young LLP as the Company&#39;s independent public accounting firm for the fiscal year ending <span class="xn-chron">December 31, 2012</span>, to have a non-binding advisory vote on the compensation of the named executive officers (say on pay), and to transact such other business as may properly come before the meeting.  </p> <p><b><u>Non-GAAP Financial Measures</u></b></p> <p>In this press release, we refer to a non-GAAP financial measure we call &#34;discretionary cash flow.&#34;  Management believes discretionary cash flow is a financial indicator of our company&#39;s ability to internally fund capital expenditures and service debt.  Management also believes this non-GAAP financial measure of cash flow is useful information to investors because it is widely used by professional research analysts in the valuation, comparison, rating and investment recommendations of companies in the oil and gas exploration and production industry. Discretionary cash flow should not be considered an alternative to net cash provided by operating activities or net income, as defined by GAAP.  Please see the &#34;Reconciliation of Non-GAAP Financial Measure&#34; for a reconciliation of discretionary cash flow to cash flow provided by operating activities.</p> <p><b><u>Forward Looking Statements</u></b></p> <p>Certain statements in this press release are forward-looking and are based upon Stone&#39;s current belief as to the outcome and timing of future events. All statements, other than statements of historical facts, that address activities that Stone plans, expects, believes, projects, estimates or anticipates will, should or may occur in the future, including future production of oil and gas, future capital expenditures and drilling of wells and future financial or operating results are forward-looking statements.  Important factors that could cause actual results to differ materially from those in the forward-looking statements herein include the timing and extent of changes in commodity prices for oil and gas, operating risks, liquidity risks, political and regulatory developments and legislation, including developments and legislation relating to our operations in the <span class="xn-location">Gulf of Mexico</span> and Appalachia, and other risk factors and known trends and uncertainties as described in Stone&#39;s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q as filed with the SEC. Should one or more of these risks or uncertainties occur, or should underlying assumptions prove incorrect, Stone&#39;s actual results and plans could differ materially from those expressed in the forward-looking statements.</p> <p>Estimates for Stone&#39;s future production volumes are based on assumptions of capital expenditure levels and the assumption that market demand and prices for oil and gas will continue at levels that allow for economic production of these products. The production, transportation and marketing of oil and gas are subject to disruption due to transportation and processing availability, mechanical failure, human error, hurricanes and numerous other factors.  Stone&#39;s estimates are based on certain other assumptions, such as well performance, which may vary significantly from those assumed. Delays experienced in well permitting could affect the timing of drilling and production. Lease operating expenses, which include major maintenance costs, vary in response to changes in prices of services and materials used in the operation of our properties and the amount of maintenance activity required.  Estimates of DD&amp;A rates can vary according to reserve additions, capital expenditures, future development costs, and other factors. Therefore, we can give no assurance that our future production volumes, lease operating expenses or DD&amp;A rates will be as estimated.</p> <p><i>Stone Energy is an independent oil and natural gas exploration and production company headquartered in <span class="xn-location">Lafayette, Louisiana</span> with additional offices in <span class="xn-location">New Orleans</span>, <span class="xn-location">Houston</span> and <span class="xn-location">Morgantown, West Virginia</span>. Our business strategy is to leverage cash flow generated from existing assets to maintain relatively stable GOM shelf production, profitably grow gas reserves and production in price-advantaged basins such as Appalachia and the Gulf Coast Basin, and profitably grow oil reserves and production in material impact areas such as the deep water GOM and onshore oil.  For additional information, contact <span class="xn-person">Kenneth H. Beer</span>, Chief Financial Officer, at 337-521-2210 phone, 337-521-9880 fax or via e-mail at <a href="mailto:CFO@StoneEnergy.com" target="_blank">CFO@StoneEnergy.com</a>. </i></p> <div> <table style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; BORDER-COLLAPSE: collapse; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" border="1" cellspacing="0" cellpadding="0"><tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="5"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>STONE ENERGY CORPORATION</b></span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="5"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>SUMMARY STATISTICS</b></span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="5"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(In thousands, except per share/unit amounts)</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="5"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(Unaudited)</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="3"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>Three Months Ended</b></span></p> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>March 31,</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>2012</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>2011</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>FINANCIAL RESULTS</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Net income</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" nowrap="true"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$50,974</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" nowrap="true"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$39,792</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Net income per share</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$1.03</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$0.81</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>PRODUCTION QUANTITIES</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Oil (MBbls)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,862</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,616</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Gas (MMcf)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">9,994</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">9,083</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Natural gas liquids (MBbls)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">200</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">128</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Oil, gas and NGLs (MBoe)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">3,728</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">3,258</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Oil, gas and NGLs (MMcfe)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">22,366</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">19,547</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>AVERAGE DAILY PRODUCTION</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Oil (MBbls)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">20.5</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">18.0</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Gas (MMcf)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">109.8</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">100.9</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Natural gas liquids (MBbls)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2.2</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1.4</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Oil, gas and NGLs (MBoe)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">41.0</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">36.2</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Oil, gas and NGLs (MMcfe)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">245.8</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">217.2</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>REVENUE DATA</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Oil revenue</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$201,758</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$151,995</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Gas revenue</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">28,857</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">41,160</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Natural gas liquids revenue</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">13,452</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">5,999</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Total oil, gas and NGL revenue</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$244,067</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$199,154</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>AVERAGE PRICES</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Prior to the cash settlement of effective hedging transactions:</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Oil (per Bbl)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$111.49</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$99.29</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Gas (per Mcf)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2.41</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">4.03</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Natural gas liquids (per Bbl)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">67.26</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">46.87</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Oil, gas and NGLs (per Boe)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">65.74</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">62.32</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Oil, gas and NGLs (per Mcfe)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">10.96</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">10.39</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Including the cash settlement of effective hedging transactions:</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Oil (per Bbl)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$108.36</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$94.06</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Gas (per Mcf)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2.89</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">4.53</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Natural gas liquids (per Bbl)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">67.26</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">46.87</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Oil, gas and NGLs (per Boe)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">65.47</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">61.13</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Oil, gas and NGLs (per Mcfe)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">10.91</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">10.19</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>COST DATA</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Lease operating expenses</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$44,480</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$38,287</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Salaries, general and administrative expenses</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">13,705</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">11,733</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        DD&amp;A expense on oil and gas properties</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">83,824</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">66,385</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>AVERAGE COSTS</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Lease operating expenses (per Boe)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$11.93</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$11.75</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Lease operating expenses (per Mcfe)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1.99</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1.96</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Salaries, general and administrative expenses (per Boe)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">3.68</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">3.60</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        Salaries, general and administrative expenses (per Mcfe)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">0.61</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">0.60</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        DD&amp;A expense on oil and gas properties (per Boe)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">22.48</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">20.38</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        DD&amp;A expense on oil and gas properties (per Mcfe)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">3.75</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">3.40</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>AVERAGE SHARES OUTSTANDING – Diluted </b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">48,299</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">47,939</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr></table></div><br/><br/> <p> </p> <div> <table style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; BORDER-COLLAPSE: collapse; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" border="1" cellspacing="0" cellpadding="0"><tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="8"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>STONE ENERGY CORPORATION</b></span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="8"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>CONSOLIDATED STATEMENT OF OPERATIONS</b></span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="8"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(In thousands)</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="8"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(Unaudited)</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="3"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>Three Months Ended</b></span></p> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>March 31,</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>2012</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>2011</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">   <b>Operating </b><b>revenue:</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">       Oil production</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" nowrap="true"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$201,758</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" nowrap="true"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$151,995</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">       Gas production</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">28,857</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">41,160</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">       Natural gas liquids production</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">13,452</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">5,999</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">       Other operational income</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">890</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">885</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>                   Total operating revenue</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">244,957</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">200,039</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>    Operating expenses:</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">       Lease operating expenses</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">44,480</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">38,287</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">       Transportation, processing and gathering</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">3,657</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,820</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">       Other operational expense</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">42</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">662</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">       Production taxes</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">3,378</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2,535</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">       Depreciation, depletion and amortization</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">84,575</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">67,669</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">       Accretion expense</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">8,266</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">7,717</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">       Salaries, general and administrative expenses</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">13,705</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">11,733</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">       Incentive compensation expense</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,442</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2,684</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">       Derivative expenses, net</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">485</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2,180</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>                   Total operating expenses</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">160,030</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">135,287</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>    Income from operations</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">84,927</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">64,752</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">   <b>Other (income) expenses:</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">       Interest expense</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">5,731</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">3,111</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">       Interest income</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(31)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(94)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">       Other income</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(420)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(564)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">       Other expense</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">-</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">124</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">                  <b>Total other expenses</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">5,280</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">2,577</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>    Income before taxes</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">79,647</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">62,175</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>    Provision for income taxes:</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">       Current</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,234</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">-</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">       Deferred</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">27,439</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">22,383</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">                  <b>Total income taxes </b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">28,673</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">22,383</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">   <b>Net income</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 2pt double; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$50,974</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 2pt double; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$39,792</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="2"><br/></td></tr></table></div><br/><br/> <p> </p> <div> <table style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; BORDER-COLLAPSE: collapse; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" border="1" cellspacing="0" cellpadding="0"><tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="6"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>STONE ENERGY CORPORATION</b></span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="6"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>RECONCILIATION OF NON-GAAP FINANCIAL MEASURE</b></span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="6"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(In thousands)</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="6"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(Unaudited)</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="3"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>Three Months Ended</b></span></p> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>March 31,</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>2012</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>2011</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>Net income as reported</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" nowrap="true"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$50,974</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" nowrap="true"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$39,792</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Reconciling items:</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 57px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Depreciation, depletion and amortization</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">84,575</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">67,669</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 57px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Deferred income tax provision</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">27,439</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">22,383</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 57px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Accretion expense</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">8,266</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">7,717</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 57px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Stock compensation expense</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,750</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,680</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 57px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Other</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,668</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,051</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>Discretionary cash flow</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">174,672</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">140,292</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Changes in income taxes payable</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(2,647)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(3,681)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Settlement of asset retirement obligations</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(2,980)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(19,034)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Other working capital changes</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(49,710)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(28,262)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>Net cash provided by operating activities</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 2pt double; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$119,335</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 2pt double; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="TEXT-INDENT: 42px; MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$89,315</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr></table></div><br/><br/> <p> </p> <div> <table style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; BORDER-COLLAPSE: collapse; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" border="0" cellspacing="0" cellpadding="0"><tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="5"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>STONE ENERGY CORPORATION</b></span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="5"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>CONSOLIDATED BALANCE SHEET</b></span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="5"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(In thousands)</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" colspan="5"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(Unaudited)</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>March 31,</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" nowrap="true"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>December 31,</b></span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>2012</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>2011</b></span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b><u>Assets</u></b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>Current assets:</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">         Cash and cash equivalents</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" nowrap="true"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$263,841</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt" nowrap="true"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$38,451</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">         Accounts receivable</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">133,266</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">118,139</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">         Fair value of hedging contracts</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">24,352</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">25,177</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">         Current income tax receivable</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">23,140</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">19,946</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">         Deferred taxes</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">30,206</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">26,072</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">         Inventory</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">4,643</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">4,643</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">         Other current assets</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">754</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">791</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">              <b>Total </b><b>current</b><b> assets</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">480,202</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">233,219</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Oil and gas properties, full cost method of accounting:</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Proved</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">6,704,772</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">6,648,168</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Less: accumulated depreciation, depletion and amortization</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(5,252,894)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(5,174,729)</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Net proved oil and gas properties</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,451,878</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,473,439</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: left; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Unevaluated</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">443,889</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">401,609</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Other property and equipment, net</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">11,444</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">11,172</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Fair value of hedging contracts</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">10,937</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">22,543</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Other assets, net</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">28,963</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">23,769</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>         Total assets</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 2pt double; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$2,427,313</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 2pt double; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: black 1pt solid; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$2,165,751</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: center; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><u><b>Liabilities and Stockholders&#39; Equity</b></u></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>Current liabilities:</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">         Accounts payable to vendors</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$86,307</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$102,946</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">         Undistributed oil and gas proceeds</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">26,359</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">27,328</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">         Accrued interest</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">10,490</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">14,059</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">         Fair value of hedging contracts</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">27,298</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">11,122</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">         Asset retirement obligations</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">71,256</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">62,676</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">         Other current liabilities</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">10,740</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">28,370</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>               Total </b><b>current</b><b> </b><b>liabilities</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">232,450</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">246,501</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Bank debt</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">-</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">45,000</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">6 3/4% Senior Subordinated Notes due 2014</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">200,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">200,000</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">8 5/8% Senior Notes due 2017</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">375,000</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">375,000</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1 3/4% Senior Convertible Notes due 2017*</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">230,140</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">-</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Deferred taxes</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">266,996</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">247,835</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Asset retirement obligations</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">359,274</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">363,103</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Fair value of hedging contracts</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">8,025</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">815</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Other long-term liabilities</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">20,523</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">19,668</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">        <b>Total liabilities</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,692,408</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,497,922</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Common stock</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">483</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">481</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Treasury stock</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(860)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(860)</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Additional paid-in capital</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,376,730</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">1,338,565</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Accumulated deficit</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(641,251)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(692,225)</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">Accumulated other comprehensive income (loss)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">(197)</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">21,868</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>         Total stockholders&#39; equity</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">734,905</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">667,829</span></p> </td></tr> <tr> <td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span"><b>         Total liabilities and stockholders&#39; equity</b></span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 2pt double; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$2,427,313</span></p> </td> <td style="BORDER-BOTTOM: 1pt; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><br/></td> <td style="BORDER-BOTTOM: black 2pt double; TEXT-ALIGN: right; BORDER-LEFT: 1pt; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 8pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">$2,165,751</span></p> </td></tr></table></div> <p> </p> <div> <table style="BORDER-BOTTOM: 0px; BORDER-LEFT: 0px; BORDER-COLLAPSE: collapse; BORDER-TOP: 0px; BORDER-RIGHT: 0px" id="convertedTable" border="0" cellspacing="0" cellpadding="0"><tr> <td style="BORDER-BOTTOM: 0px; BORDER-LEFT: 0px; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 0px; BORDER-RIGHT: 0px"> <p style="MARGIN: 0in" class="prnews_p"><span style="FONT-FAMILY: Arial; FONT-SIZE: 8pt" class="prnews_span">*Face value of $300 million</span></p> </td></tr></table></div> <p>SOURCE Stone Energy Corporation</p> </div> <img alt="" src="http://rt.prnewswire.com/rt.gif?NewsItemId=DA02353&amp;Transmission_Id=201205071607PR_NEWS_USPR_____DA02353&amp;DateId=20120507" style="border:0px; width:1px; height:1px;"/> Robert F. Kennedy Jr. Confirmed Chevron's Ecuador Pollution in Powerful Essay, says Amazon Defense Coalition http://www.einpresswire.com/article/782075-robert-f-kennedy-jr-confirmed-chevron-s-ecuador-pollution-in-powerful-essay-says-amazon-defense-coalition http://www.einpresswire.com/article/782075-robert-f-kennedy-jr-confirmed-chevron-s-ecuador-pollution-in-powerful-essay-says-amazon-defense-coalition Mon, 07 May 2012 16:53:16 +0000 <div class="xn-newslines"> <h1 class="xn-hedline">Robert F. Kennedy Jr. Confirmed Chevron&#39;s Ecuador Pollution in Powerful Essay, says Amazon Defense Coalition</h1> <p class="xn-distributor">PR Newswire</p> </div> <div class="xn-content"> <p><b>Saw Scenes That Looked Like &#34;War&#34; During Trip to Remote Region of Amazon in Early 1990s</b></p> <p><span class="xn-location">NEW YORK</span>, <span class="xn-chron">May 7, 2012</span> /PRNewswire-USNewswire/ -- In 1990, noted environmental lawyer <span class="xn-person">Robert F. Kennedy Jr.</span> was one of the first outsiders to travel to a remote area of <span class="xn-location">Ecuador</span>&#39;s Amazon to assess what at the time was considered one of the worst oil disasters on the planet -- one created deliberately by Chevron that is now the subject of an <span class="xn-money">$18 billion</span> judgment against the oil giant.</p> <p>Writing a powerful and compelling introduction for the long-forgotten 1991 book <i>Amazon Crude</i>, Kennedy said the environmental destruction he saw in <span class="xn-location">Ecuador</span> was &#34;reminiscent of war.&#34; He blasted Texaco, now owned by Chevron, for &#34;not bringing American values&#34; to the South American nation when it built hundreds of wells and production stations across an area of rainforest the size of <span class="xn-location">Rhode Island</span>.</p> <p><a href="http://chevrontoxico.com/assets/docs/amazon-crude-excerpt.pdf" target="_blank">Kennedy&#39;s essay</a> largely confirmed the horror experienced by indigenous groups in the area that resulted in the landmark <span class="xn-money">$18 billion</span> judgment against Chevron, thought to be the largest civil liability ever stemming from a trial. That judgment has become a major point of contention for numerous Chevron shareholders, has raised numerous questions about whether the oil giant is <a href="http://chevrontoxico.com/assets/docs/2012-april-chevrons-failure-to-disclose.pdf" target="_blank">misleading investors</a> and has prompted calls for a <a href="http://trilliuminvest.com/issues/human-rights-social-issues/trillium-asks-securities-and-exchange-commission-to-investigate-chevron-corporation%E2%80%99s-disclosures-re-historic-ecuadorian-judgment/" target="_blank">SEC investigation</a> to determine if the company is complying with its disclosure obligations.</p> <p><i>Amazon Crude</i> was published in 1991 by the Natural Resources Defense Council, one of the leading environmental groups in the United States. It was authored by <span class="xn-person">Judith Kimerling</span>, a former environmental lawyer with the <span class="xn-location">New York</span> Attorney General&#39;s office and now a law professor.</p> <p>The book, now out of print, meticulously documented Chevron&#39;s sub-standard operational practices in <span class="xn-location">Ecuador</span>.</p> <p>In the early 1990s -- well before the celebrated legal battle between indigenous groups and Chevron made global headlines in news outlets -- Kennedy wrote in reference to Chevron&#39;s operations that &#34;nothing in my experience prepared me for the scenes I saw in the Ecuadorian Amazon…. Like most U.S. citizens, I like to believe that when American companies go abroad, American values go with them. That hasn&#39;t happened in <span class="xn-location">Ecuador</span>.&#34;</p> <p>Kennedy said he witnessed &#34;antiquated equipment, rusting pipelines, and uncounted toxic waste sites.&#34; In reference to the hundreds of open-air toxic waste pits left by Chevron and other oil companies in <span class="xn-location">Ecuador</span>, he said the jungle &#34;was broken by landscapes reminiscent of war.&#34;</p> <p>Kennedy wrote:  &#34;Past the petroleum camp, a large river, recently burned, still ran black, its banks charred… Oil wastes streamed from the broken berm of a nearby production pit.&#34;</p> <p>After meeting with several members of indigenous groups, Kennedy said that &#34;each of them told the same story. Sick and deformed children, adults and children affected with skin rashes, headaches, dysentery and respiratory ailments, cattle dead with their stomachs rotted out, crops destroyed, animals gone from the forest and fish from the rivers and streams.&#34;</p> <p>Kennedy was well aware that what Chevron executives were doing in <span class="xn-location">Ecuador</span> would never be allowed where he lived. &#34;They&#39;d go to jail for that in <span class="xn-location">New York</span>,&#34; he wrote.</p> <p>He continued: &#34;For almost twenty years, American oil companies, led by Texaco (now Chevron), have pumped oil from the Ecuadorian jungle. They have created an infrastructure that includes over 400 drill sites, hundreds of miles of roads and pipelines, and a primary pipeline that stretches 280 miles across the Andes….</p> <p>&#34;The industry&#39;s practice [in <span class="xn-location">Ecuador</span>] of burying highly toxic drilling muds virtually assures the destruction of … groundwater aquifers, while the region&#39;s surface water is being destroyed by pipeline spills and … pit discharges. By far the most disturbing impacts are to the quarter million forest people, including members of eight indigenous tribes who rely on the natural resources … for their survival….&#34;</p> <p>Kennedy noted that when oil exploration began in <span class="xn-location">Ecuador</span>&#39;s Amazon most observers thought the &#34;real threat&#34; would be the &#34;speculators and colonists following oil company roads to occupy tribal lands,&#34; but Kimerling&#39;s book made it clear Chevron&#39;s practices have been &#39;the greater threat.&#34;</p> <p>In closing, he wrote, &#34;I reflected that the only way the Amazon will be saved is if the people who live there choose to save it.&#34;</p> <p>Not long after -- in 1993 -- indigenous groups and farmer communities in the area filed the class-action lawsuit against Chevron in <span class="xn-location">New York</span>, which resulted in the judgment. The trial took place in <span class="xn-location">Ecuador</span> at Chevron&#39;s request after the company repeatedly praised the country&#39;s court system, although now Chevron claims those courts were biased against it.</p> <p>The <span class="xn-location">Ecuador</span> court found that Chevron discharged billions of gallons of toxic &#34;water of formation&#34; directly into the waterways used by the local inhabitants for drinking water and caused an outbreak of cancer and other oil-related diseases. See <a href="http://chevrontoxico.com/assets/docs/2012-01-evidence-summary.pdf" target="_blank">here</a> and <a href="http://chevrontoxico.com/news-and-multimedia/2012/0105-devastating-evidence-of-chevron-destruction-undergirds-18-billion-ecuador-appellate-decision.html" target="_blank">here.</a> The judgment is far less than BP&#39;s total liability for the comparatively smaller Deepwater Horizon spill in the <span class="xn-location">Gulf of Mexico</span>.</p> <p>The court also found that Chevron built and abandoned more than 900 unlined waste pits that continue to leech toxins into the soils and waterways of the region. The company&#39;s operational practices in <span class="xn-location">Ecuador</span> violated industry standards and had been outlawed in most U.S. states in the 1930s and 1940s, according to evidence before the <span class="xn-location">Ecuador</span> court.</p> <p>CONTACT: <span class="xn-person">Karen Hinton</span>, <a href="mailto:Karen@hintoncommunications.com" target="_blank">Karen@hintoncommunications.com</a>, +1-703-798-3109, for the Amazon Defense Coalition</p> <p>SOURCE Amazon Defense Coalition</p> </div> <img alt="" src="http://rt.prnewswire.com/rt.gif?NewsItemId=DC02183&amp;Transmission_Id=201205071253PR_NEWS_USPR_____DC02183&amp;DateId=20120507" style="border:0px; width:1px; height:1px;"/>