UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF EARLIEST EVENT REPORTED: September 20, 2012
ATP OIL & GAS CORPORATION
(Exact name of registrant as specified in its charter)
Commission file number: 001-32647
Texas | 76-0362774 | |
(State or other jurisdiction of incorporation or organization) |
(I.R.S. Employer Identification No.) | |
4600 Post Oak Place, Suite 100 Houston, Texas |
77027 | |
(Address of principal executive offices) | (Zip Code) |
(713) 622-3311
(Registrants telephone number, including area code)
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.01. Entry into a Material Definitive Agreement.
As previously disclosed, on August 17, 2012, ATP Oil & Gas Corporation (the Company) filed a voluntary petition for relief (the Bankruptcy Filing) under Chapter 11 of Title 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas (the Bankruptcy Court) Case No. 12-36187.
On September 20, 2012 but effective September 18, 2012, ATP East Med Number 1 B.V., a wholly owned, indirect subsidiary of the Company (ATP East Med), entered into an agreement (the Option Agreement) with Moncrief Oil International Inc. (Moncrief) pursuant to which ATP East Med granted to Moncrief, or an affiliate of Moncrief, an option for 90 days to purchase all of ATP East Meds working interests in properties located in the Mediterranean Sea (the Interests). The Option Agreement also provides that the Company, subject to certain conditions, will sell to Moncrief all of its working interests in the same properties. The Option Agreement provides for a number of conditions, including (i) a mutually agreeable purchase and sale agreement containing normal and customary representations and warranties and indemnification provisions, (ii) satisfactory diligence, (iii) consent by the other working interests owners and (iv) Bankruptcy Court approval. If consummated, Moncrief will pay to ATP East Med an amount equal to all of ATP East Meds expenses incurred with respect to the Interests, with a portion of such amount being distributed to ATP East Meds trade creditors and other portions of such amount being distributed to ATP East Med over a 180 day period.
Moncrief may terminate the Option Agreement at any time without penalty if in its sole opinion the investment is not sound technically or commercially or it is unlikely to receive necessary approvals from the other working interest owners or the Israeli Ministry of Energy and Water Resources. ATP East Med may terminate the Option Agreement at any time without penalty if an Israeli court issues an order requiring that all or any part of the Interests be sold to another party.
ATP East Med was not a party to the Bankruptcy Filing.
The foregoing summary of the Option Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Option Agreement, which is attached hereto as Exhibit 10.1, and any order entered by the Bankruptcy Court.
Item 7.01. Regulation FD Disclosure.
The Bankruptcy Court has approved an amendment to the Companys Senior Secured Super Priority Priming Debtor in Possession Credit Agreement (the DIP Credit Agreement), which the parties thereto are working to finalize. In connection with the amendment to the DIP Credit Agreement, the Company filed with the Bankruptcy Court certain revised projected financial information and hydrocarbon information (the Projections) that were provided to the lenders.
The Projections reflect numerous assumptions, including, among other things, with respect to (i) expectations regarding oil and natural gas markets in the U.S., U.K. and Israel, (ii) estimates of quantities of our proved reserves and the present value thereof, and the timing of future production of oil and natural gas, (iii) operational factors affecting the commencement or maintenance of producing wells, including catastrophic weather-related damage, unscheduled outages or repairs, or unanticipated changes in drilling equipment costs or rig availability, (iv) costs and other effects of legal and administrative proceedings, settlements, investigations and claims, (v) payment obligations on the Companys debt instruments, (vi) retention of the Companys management team and other key personnel, (vii) asset retirement obligations, (viii) general business and economic conditions, (ix) competitive forces, (x) the actions of regulatory agencies and governmental bodies and (xi) decisions regarding the timing of the Companys capital projects. Many of these assumptions are beyond the Companys control and some or all of the assumptions may not materialize. In addition, unanticipated events and circumstances with regard to any of the above assumptions or other matters not listed above may affect the Companys actual financial results in the future.
The Projections are based upon an analysis of the data available to the Company at the time of the Projections and are not guarantees of actual results. Due to the uncertainties inherent in any projections, the Companys management is unable to represent or warrant that the information contained in the Projections is without inaccuracies and no assurance can be given or is given that the Projections will be realized. Therefore, while the Projections are necessarily presented with numerical specificity, the actual results achieved for the projected periods may vary from the projected results and are subject to significant uncertainties, contingencies, risks and assumptions, many of which are beyond the Companys control. These variations may be material. Accordingly, no representation can be made or is made with respect to the accuracy of the Projections or the Companys ability to achieve the projected results, and the Projections should not be relied upon as a guaranty, representation or other assurance of the actual results that will occur.
The Company does not, as a matter of course, make public projections of its anticipated results of operations, financial position or cash flows. Accordingly, the Company disclaims any obligation to furnish updated projections to reflect any changed circumstances, including actual industry performance or the general economic or business climate or other matters affecting the Projections that differ from those upon which the Projections have been based.
The Projections were not prepared in accordance with standards for projections promulgated by the American Institute of Certified Public Accountants or with a view to comply with published guidelines of the Securities and Exchange Commission regarding projections or forecasts. Neither the Companys independent registered public accountants, any other independent accountants nor its independent reserve engineers have compiled, examined or performed any procedures with respect to the Projections to determine the reasonableness thereof, nor have they expressed any opinion or any other form of assurance on such information or its achievability, and they assume no responsibility for, and disclaim any association with, the Projections.
A copy of the Projections is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
On September 20, 2012, the Company filed with the Bankruptcy Court its monthly operating report for August 17, 2012 through August 31, 2012 (the Monthly Operating Report). A copy of the Monthly Operating Report is furnished as Exhibit 99.2 to this Current Report on Form 8-K.
Limitation on Incorporation by Reference
In accordance with General Instruction B.2 of Form 8-K, the information in this Item 7.01 shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.
Cautionary Statement Regarding Financial and Operating Data
The Company cautions investors and potential investors not to place undue reliance upon the information contained in the Monthly Operating Report, which was not prepared for the purpose of providing the basis for an investment decision relating to any of the securities of the Company. The Monthly Operating Report is limited in scope, covers a limited time period, and has been prepared solely for the purpose of complying with the monthly reporting requirements of the Bankruptcy Court. The Monthly Operating Report was not audited or reviewed by independent accountants, is in a format prescribed by applicable bankruptcy laws, and is subject to future adjustment and reconciliation. There can be no assurance that, from the perspective of an investor or potential investor in the Companys securities, the Monthly Operating Report is complete. The Monthly Operating Report also contains information for periods which are shorter or otherwise different from those required in the Companys reports pursuant to the Exchange Act, and such information might not be indicative of the Companys financial condition or operating results for the period that would be reflected in the Companys financial statements or in its reports pursuant to the Exchange Act. Results set forth in the Monthly Operating Report should not be viewed as indicative of future results.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements in this Current Report on Form 8-K are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. These statements involve certain risks and uncertainties that may be beyond our control and may cause our actual future results to differ materially from our current expectations both in connection with the Chapter 11 filings and the Companys business and financial prospects. Statements of managements expectations, including its desire to successfully restructure in order to position the Company for long term viability and success, to address its financial challenges, to address important issues in an orderly way and to make the Company stronger and more competitive are based on current assumptions and expectations. No assurance can be made that these events will come to fruition. We do not undertake to update our forward-looking statements. Factors that could affect our results include, but are not limited to: (i) the ability of the Company to continue as a going concern, (ii) the ability of the Company to obtain Bankruptcy Court approval with respect to motions in the Chapter 11 case, (iii) the ability of the Company to prosecute, develop and consummate one or more plans of reorganization with respect to the Chapter 11 case, (iv) the effects of the Bankruptcy Filing on the Company and the interests of various creditors, equity holders and other constituents, (v) Bankruptcy Court rulings in the Chapter 11 case and the outcome of the cases in general, (vi) the length of time the Company will operate under the Chapter 11 case, (vii) risks associated with third-party motions in the Chapter 11 case, which may interfere with the ability of the Company to develop one or more plans of reorganization and consummate such plans once they are developed, (viii) the potential adverse effects of the Chapter 11 proceedings on the Companys liquidity or results of operations, (ix) the ability to execute the Companys business and
restructuring plans, (x) increased legal costs related to the Companys Bankruptcy Filing and other litigation, and (xi) the ability of the Company to maintain contracts that are critical to its operation, including to obtain and maintain normal terms with their vendors, customers, landlords and service providers and to retain key executives, managers and employees. In the event that the risks disclosed in the Companys public filings and those discussed above cause results to differ materially from those expressed in the Companys forward-looking statements, the Companys business, financial condition, results of operations or liquidity, and the interests of creditors, equity holders and other constituents, could be materially adversely affected. The Company undertakes no obligation (and expressly disclaims any such obligation) to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. For additional information concerning factors that could cause actual results to materially differ from those projected herein, please refer to the Companys Form 10-K and Form 10-Q reports.
Additional information regarding the Bankruptcy Filings is available on the internet at www.atpog.com. Filings with the Bankruptcy Court and claims information are available at www.kccllc.net/atpog.
Item 9.01. Financial Statements and Exhibits.
(d) | Exhibits |
The following exhibits are filed in accordance with the provisions of Item 601 of Regulation S-K:
Exhibit |
Exhibit Description | |
10.1 | Agreement between ATP East Med Number 1 B.V. and Moncrief Oil International Inc. | |
99.1 | Projections | |
99.2 | Monthly Operating Report |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned and thereunto duly authorized.
ATP Oil & Gas Corporation | ||||||
Date: September 26, 2012 | By: | /s/ Albert L. Reese Jr. | ||||
Albert L. Reese Jr. Chief Financial Officer |
Exhibit Index
Exhibit |
Exhibit Description | |
10.1 | Agreement between ATP East Med Number 1 B.V. and Moncrief Oil International Inc. | |
99.1 | Projections | |
99.2 | Monthly Operating Report |
Exhibit 10.1
AGREEMENT
between
ATP East Med Number 1 B.V.,
and
Moncrief Oil International Inc.
Company grants Investor the Right to purchase the Company Interests (defined below) on the terms set forth below, subject to any necessary consents under the operating agreements covering the Company License Interests (the JOA Consents) and any other relevant contractual consents.
Company:
ATP East Med Number 1 B.V., with its principle place of business at Dokweg 31, 1976 CA Ijmuiden, The Netherlands, (the Company)
Investor:
Moncrief Oil International Inc, (Moncrief) with its principle place of business at 301 Commerce Street, Suite 3600, Fort Worth, Texas 76102 U.S.A. or an affiliate of Moncrief on behalf of Moncrief any of its oil company consortium partners, and potentially Bandel East Med Ltd and/or an affiliate (Bandel) that may join Moncrief as co-investors in the Proposed Transaction (collectively the Investor). Company and Investor are sometimes referred to individually as Party and collectively as the Parties.
Primary Terms:
Subject to the JOA Consents and any other relevant contractual consents, Company grants Investor a right for ninety (90) days from the date of signing this Agreement (the Period) to purchase the Company Interests described herein (the Proposed Transaction) pursuant to the primary terms set out (on attachment 1 hereto), which will be incorporated into a mutually acceptable purchase and sale agreement containing such other provisions as mutually agreed by the Parties, including normal and customary representations and warranties, indemnification provisions, and survival periods for representations, warranties, and indemnifications. Investor has the right to notify the Company that it is terminating this Agreement at any time within the Period (before the fulfillment of all the Conditions Precedent set forth in Attachment 1, B.) without penalty of any kind if in its sole opinion the investment is not sound technically or commercially or it is unlikely to receive necessary approvals from the other participants in the Licenses (as defined below) or the Israeli Ministry of Energy and Water Resources (Ministry). The Company may terminate this Agreement (by written notice to Investor) with no further obligations from one Party to the other Party if an Israeli court issues an order requiring that all or any part of the Company Interests be sold to a party other than Investor.
Agreement between ATP and Moncrief
Page 2 of 6
Company Interests means collectively the following:
1) Subject to the License Encumbrances, 100% of Companys participating interest share (the Company License Interests) in each the following Licenses:
a. a 35% participating interest in the 332/Simshon License,
b. a 35% participating interest in the 391/Daniel West License, and
c. a 35% participating interest in the 392/Daniel East License
(Individually a License and collectively the Licenses), The 391/Daniel West License and 392/Daniel East License are sometimes referred to collectively as the Daniel Licenses.
Encumbrances on the Company License Interests:
The Company License Interests are subject to (i) that certain letter agreement, dated April 25, 2011, as amended, by and between Bandel Interests, L.L.C. Bandel East Med, LLC, and Bandel Green East Med Cooperatief U.A. (collectively the Bandel Entities), ATP Oil & Gas Corporation and ATP East Med Number 1 B.V. (Bandel Agreement) under which assignments to Bandel East Med Ltd were made that reduce Companys participating interest in each License to twenty-seven percent (27%), however, none of such assignments have been approved by the Ministry; (ii) that certain Farmout Agreement, dated February 23, 2011, by and between Isramco Oil and Gas Limited (as Seller), and ATP East Med Number 1 B.V. and ATP Oil & Gas Corporation (collectively as Buyer), which covers the Daniel Licenses, and provides for (a) a certain overriding royalty interest (with respect to 1.75% of 100%) that was retained by Isramco Oil and Gas Limited and is borne by Companys 35% participating interest in the Daniel Licenses, and (b) a certain carry (equal to 8.75% of 100%) in favor of Isramco Oil and Gas Limited with respect to the first well drilled in the Daniel Licenses that is borne by Companys 35% participating interest in the Daniel Licenses; and (iii) that certain Farmout Agreement (as amended), dated February 23, 2011, which is by and between Isramco Negev 2 L.P. (as Seller), and ATP East Med Number 1 B.V. and ATP Oil & Gas Corporation (collectively as Buyer), which covers the 332/Shimshon License, and provides for (a) a certain overriding royalty interest (with respect to 1.75% of 100%) that is held by Isramco Oil and Gas Limited and is borne by Companys 35% participating interest in the Licenses, and (b) a certain carry (equal to 8.75% of 100%) in favor of Isramco Oil and Gas Limited with respect to the first well drilled in the 332/Shimshon License that is borne by Companys 35% participating interest in the 332/Shimshon License (Isramco Shimshon Carry).
2) The Companys interest in certain Farm Out Agreements with Ratio Oil Exploration (1992) Limited Partnership pertaining to the licenses that may be granted out of the Gal Permit (Gal Interest).
Agreement between ATP and Moncrief
Page 3 of 6
3) The Companys assets associated with the Company License Interests as may be agreed between the Parties.
Access to Company Information for Investors Due Diligence Reviews during Period:
During the Period Company shall provide Investor access to all the data, information, documents and records that the Company may disclose to Investor without breaching any obligations of confidentiality and that Investor may reasonably require to conduct its due diligence investigations, which at the minimum shall cover the following (absent any confidentiality obligation restricting Companys ability to disclose):
| Investors technical analysis of the discovery well drilled in the Shimshon License confirming that the potential commercial reserves in the discovered natural gas field are at least 500Bcf; |
| Investors prospectivity analysis for the Licenses (and other opportunities in which Company had prior agreements and/or understandings with the holders of other licenses) confirming that there are drillable prospects of sufficient quality to warrant the investment in a minimum of two exploration wells (one well in each of the two Daniel Licenses), and additional quality prospectivity across all the Licenses; |
| Financial audit of the Companys past costs incurred on the Licenses; |
| Legal audit and assessment of (a) the claims or burdens that have been or are threatened to be made against the Company and/or on the Company Interests and (b) the actions required to mitigate such claims and burdens; |
| Existing commercial arrangements with other interested parties; |
| License work programs: |
| Review of the status of completion or otherwise of all required work program actions and other work that has been or is being performed in respect to the Licenses; |
| Actions required to reach full understanding with the other participants in the Licenses and the Ministry on the budgets associated with each of the Licenses work program milestones; |
| Actions required to advance an accelerated development scheme, if economically warranted, for the Shimshon gas field, the associated pipeline construction and natural gas marketing arrangements. |
Notices: |
Party |
Representative | ||
ATP East Med Number 1 B.V. c/o ATP Oil & Gas Corporation 4600 Post Oak Place, Suite 100 Houston, Texas 77027-9726 |
Mr. Leland E. Tate President Telephone: 713.622.3311 Fax: 713-624-7378 E-mail: ltate@atpog.com |
Agreement between ATP and Moncrief
Page 4 of 6
Party |
Representative | |||
Moncrief Oil International Inc., 301 Commerce Street, Suite 3600, Fort Worth, Texas 76102 |
Mr. Richard W. Moncrief Chairman and CEO Telephone: (817) 348-8454 Fax: (817) 348-8464 E-mail: Suzanne@moil.com |
Governing Law:
This Agreement shall be governed by and construed in accordance with the laws of the State of Texas and the United States of America and any disputes amongst the Parties, if not resolved in good faith negotiations between them after fourteen (14) days, shall be resolved by arbitration in Texas under the Rules of the American Arbitration Association (AAA) and the Parties shall be bound by the decision of the AAA appointed expert.
Hereby agreed by the Parties on the 18th day of September, 2012:
For ATP East Med Number 1 B.V.
By: | /s/ Leland E. Tate |
Name: | Leland E. Tate |
Title: | Managing Director |
For Moncrief Oil International Inc. | ||
By: | /s/ Richard W. Moncrief | |
Name: | Richard W. Moncrief | |
Title: | Chairman, CEO |
Agreement between ATP and Moncrief
Page 5 of 6
Attachment 1
To
Agreement
between
ATP East Med Number 1 B.V.,
and
Moncrief Oil International Inc.
Primary Terms of the Definitive Agreement for the Proposed Transaction:
Definitive Agreement elements:
A. | Consideration for assignment of the Company Interests to the Investor, Investor will pay the following amounts. |
| The amount of the Companys legitimate past costs properly incurred for its participating interest share (including any past costs associated with the Isramco Shimshon Carry), as of the date of the closing under the Definitive Agreement (the Closing), as follows: (a) the Companys unpaid past costs will be deposited into an escrow account (Trade Payable Escrow Account) for the benefit of the Companys trade creditors with payments to be made (and in coordination with the other participants in the Licenses) by an escrow agent upon the instruction of Company and Investor after the Closing, (b) 50% of the Companys paid past costs will be paid to Company at Closing, and (c) the remaining 50% of Companys paid past costs shall be placed in second and segregated escrow account (the ATP Escrow Account), with ATP Escrow Account funds released by an escrow agent as follows: |
| To an unknown creditor for a trade payable account discovered after the Closing as due and payable for work done prior to the Closing of the Definitive Agreement; and |
| To Company one third of the balance in the account on the sixtieth day after closing, one half of the balance in the account on the one hundred and twentieth day after closing and any balance remaining that has not been disbursed on the one hundred and eightieth day before the expiry of one hundred eighty (180) days after Closing. |
B. | Conditions Precedent for consummation of the Proposed Transaction: |
| Each of the other participants in the Licenses (lsramco, INOC, ATP Corp, IOC, Naphtha, and, to extent applicable, Modiin) and the relevant affiliated Bandel Entity(s) shall have approved the sale |
Agreement between ATP and Moncrief
Page 6 of 6
of the Company License Interests by Company to Investor and such approvals shall be evidenced in writing as required by Investor and as may be required by the applicable existing governing documents;
| The Parties shall have obtained a written order approving the Proposed Transaction from the relevant bankruptcy court in Texas that has administrative control over the Companys ultimate parent company, ATP Oil and Gas Corporation (ATP Corp) and the relevant court in Israel that is dealing with certain claims of the Companys trade creditors; |
| An escrow agent shall have been selected by mutual agreement of the Parties and others as applicable; a mutually acceptable escrow agreement shall have been agreed to by the Parties, and others as applicable and the escrow agent. The escrow agreement will provide for the escrow agent to make disbursements from Trade Payable Escrow Account and the ATP Escrow Account after the Closing has been conducted; |
| All of the Companys trade creditors that have a lien or claim on the Company License Interests shall have, after receipt of the above referenced escrow agreement, agreed that, upon full and final settlement of Companys obligations to each creditor from the funds in the Trade Payable Escrow Account the Company, the Company License Interests and the Investor shall be released from any further obligations to those creditors and any liens or attachments thereon shall be released; |
| ATP Corp shall have provided to Investor a binding agreement for the purchase of ATP Corps 5% Participating Interests in the Licenses under similar relative terms as this Agreement, which will take effect upon the Ministry approving a replacement operator for each of the Licenses; and |
| A resolution of how Bandels rights under its agreement with the Company will be handled shall have been agreed to by Company, Bandel and Investor. |
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Exhibit 99.1
ATP OIL & GAS | ||||||||||||||||||||||||||||||||||||||||
2012 PLAN - MONTHLY | 8/31/2012 | 9/30/2012 | 10/31/2012 | 11/30/2012 | 12/31/2012 | 1/31/2013 | 2/28/2013 | 3/31/2013 | 4/30/2013 | 5/31/2013 | ||||||||||||||||||||||||||||||
USA CASH FLOW FORECAST |
8/20/2012 | 9/1/2012 | 10/1/2012 | 11/1/2012 | 12/1/2012 | 1/1/2013 | 2/1/2013 | 3/1/2013 | 4/1/2013 | 5/1/2013 | ||||||||||||||||||||||||||||||
BEGINNING CASH BALANCE |
$ | 6,223 | $ | 47,157 | $ | 39,753 | $ | 27,604 | $ | 49,753 | $ | 19,608 | $ | 30,677 | $ | 25,493 | $ | 33,794 | $ | 37,741 | ||||||||||||||||||||
GROSS REVENUE |
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Gross Oil Revenue |
$ | 27,120 | $ | 37,383 | $ | 36,603 | $ | 35,830 | $ | 54,941 | $ | 75,199 | $ | 89,536 | $ | 77,349 | $ | 82,089 | $ | 76,208 | ||||||||||||||||||||
Gross Gas Revenue |
1,767 | 1,884 | 1,532 | 780 | 1,505 | 3,839 | 5,798 | 5,103 | 5,470 | 5,140 | ||||||||||||||||||||||||||||||
Gross NGL Revenue |
670 | 975 | 571 | 1,124 | 1,028 | 3,171 | 4,883 | 4,352 | 4,750 | 4,526 | ||||||||||||||||||||||||||||||
Other |
35 | 199 | | | | | | | | | ||||||||||||||||||||||||||||||
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Total Gross Revenue |
$ | 29,593 | $ | 40,441 | $ | 38,705 | $ | 37,734 | $ | 57,474 | $ | 82,209 | $ | 100,216 | $ | 86,804 | $ | 92,309 | $ | 85,875 | ||||||||||||||||||||
LESS: ESCROWED FUNDS |
$ | 2,988 | $ | 3,996 | $ | 4,360 | $ | 3,773 | $ | 4,526 | $ | 4,533 | $ | 4,387 | $ | 3,835 | $ | 4,104 | $ | 3,830 | ||||||||||||||||||||
OUTSIDE OWNER DISTRIBUTIONS |
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Govt Distributions |
$ | 5,546 | $ | | $ | 12,932 | $ | 2,191 | $ | 1,787 | $ | 4,410 | $ | 7,476 | $ | 9,790 | $ | 8,433 | $ | 8,923 | ||||||||||||||||||||
Owner Distributions |
| 464 | 2,009 | 462 | 227 | 545 | 4,022 | 6,796 | 6,006 | 6,495 | ||||||||||||||||||||||||||||||
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Total Outside Owner Distributions |
$ | 5,546 | $ | 464 | $ | 14,942 | $ | 2,653 | $ | 2,015 | $ | 4,955 | $ | 11,498 | $ | 16,586 | $ | 14,439 | $ | 15,418 | ||||||||||||||||||||
TERM RELATED PRODUCTION PAYMENTS |
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ORRI Payments |
$ | 940 | $ | 3,605 | $ | 3,691 | $ | 3,413 | $ | 4,729 | $ | 9,980 | $ | 14,047 | $ | 12,325 | $ | 13,249 | $ | 12,632 | ||||||||||||||||||||
NPI Payments |
| 13,274 | 18,365 | 16,849 | 16,428 | 27,526 | 23,597 | 16,539 | 13,564 | 15,167 | ||||||||||||||||||||||||||||||
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Total Term Related Production Payments |
$ | 940 | $ | 16,878 | $ | 22,055 | $ | 20,262 | $ | 21,158 | $ | 37,506 | $ | 37,644 | $ | 28,864 | $ | 26,812 | $ | 27,799 | ||||||||||||||||||||
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NET REVENUE |
$ | 20,119 | $ | 19,102 | $ | (2,652 | ) | $ | 11,046 | $ | 29,776 | $ | 35,215 | $ | 46,687 | $ | 37,519 | $ | 46,954 | $ | 38,827 | |||||||||||||||||||
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DERIVATIVE SETTLEMENTS |
$ | (2,141 | ) | $ | (3,031 | ) | $ | | $ | | $ | | $ | | $ | | $ | | $ | | $ | | ||||||||||||||||||
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PRODUCTION/DERIVATIVE RECEIPTS |
$ | 17,978 | $ | 16,071 | $ | (2,652 | ) | $ | 11,046 | $ | 29,776 | $ | 35,215 | $ | 46,687 | $ | 37,519 | $ | 46,954 | $ | 38,827 | |||||||||||||||||||
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LEASE OPERATING CASH DISBURSEMENTS |
$ | | $ | 1,943 | $ | 11,312 | $ | 11,824 | $ | 10,669 | $ | 9,944 | $ | 9,522 | $ | 10,014 | $ | 9,002 | $ | 9,000 | ||||||||||||||||||||
PIPELINE & PLATFORM DISBURSEMENTS |
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Gomez Pipeline Obligation |
$ | 831 | $ | 935 | $ | 834 | $ | 924 | $ | 922 | $ | 903 | $ | 841 | $ | 870 | $ | 839 | $ | 838 | ||||||||||||||||||||
Titan Fee (Used for Principal + Interest) |
5,500 | 10,000 | 5,000 | 5,000 | 10,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | ||||||||||||||||||||||||||||||
ATPIP Fees |
1,571 | 1,519 | 7,572 | 1,519 | 1,572 | 1,572 | 1,413 | 1,572 | 1,519 | 1,572 | ||||||||||||||||||||||||||||||
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|
|
|
|
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|
|||||||||||||||||||||
Total Infrastructure Disbursements |
$ | 7,902 | $ | 12,454 | $ | 13,406 | $ | 7,443 | $ | 12,494 | $ | 7,475 | $ | 7,254 | $ | 7,442 | $ | 7,358 | $ | 7,410 | ||||||||||||||||||||
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|
|
|||||||||||||||||||||
NET OPERATING CASH FLOW |
$ | 10,076 | $ | 1,674 | $ | (27,370 | ) | $ | (8,221 | ) | $ | 6,613 | $ | 17,796 | $ | 29,911 | $ | 20,063 | $ | 30,593 | $ | 22,418 | ||||||||||||||||||
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|
|
|||||||||||||||||||||
GENERAL & ADMINISTRATIVE |
||||||||||||||||||||||||||||||||||||||||
US General & Administrative |
||||||||||||||||||||||||||||||||||||||||
Compensation Expense |
$ | 500 | 1,200 | $ | 1,000 | $ | 1,000 | $ | 1,000 | $ | 1,000 | $ | 1,000 | $ | 1,000 | $ | 1,000 | $ | 1,000 | |||||||||||||||||||||
Rent Expense |
| 56 | 102 | 51 | 51 | 51 | 51 | | 102 | 51 | ||||||||||||||||||||||||||||||
Office & General Expense |
| 52 | 168 | 84 | 84 | 84 | 84 | | 168 | 84 | ||||||||||||||||||||||||||||||
Travel Related |
| 12 | 76 | 38 | 38 | 38 | 38 | | 76 | 38 | ||||||||||||||||||||||||||||||
D&O |
82 | 81 | 160 | 80 | 80 | 80 | 80 | | 160 | 80 | ||||||||||||||||||||||||||||||
Other |
3 | 396 | 920 | 928 | 1,135 | 832 | 711 | 609 | 1,053 | 626 | ||||||||||||||||||||||||||||||
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|
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|
|
|
|||||||||||||||||||||
Total US General & Administrative |
$ | 585 | $ | 1,797 | $ | 2,426 | $ | 2,181 | $ | 2,388 | $ | 2,085 | $ | 1,964 | $ | 1,609 | $ | 2,559 | $ | 1,879 | ||||||||||||||||||||
UK General & Administrative |
||||||||||||||||||||||||||||||||||||||||
Professional Fees |
$ | | $ | | $ | | $ | | $ | | $ | | $ | | $ | | $ | | $ | | ||||||||||||||||||||
Other |
| 331 | 331 | 331 | 331 | 331 | 331 | 331 | 331 | 331 | ||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||
Total UK General & Administrative |
$ | | $ | 331 | $ | 331 | $ | 331 | $ | 331 | $ | 331 | $ | 331 | $ | 331 | $ | 331 | $ | 331 | ||||||||||||||||||||
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|
|
|||||||||||||||||||||
Total General & Administrative |
$ | 585 | $ | 2,128 | $ | 2,757 | $ | 2,512 | $ | 2,719 | $ | 2,416 | $ | 2,295 | $ | 1,940 | $ | 2,890 | $ | 2,210 | ||||||||||||||||||||
NETHERLANDS FUNDING |
$ | | $ | 184 | $ | 53 | $ | 184 | $ | 53 | $ | 53 | $ | 53 | $ | 53 | $ | 53 | $ | 53 | ||||||||||||||||||||
BANKRUPTCY & PROFESSIONAL FEES |
||||||||||||||||||||||||||||||||||||||||
Company |
||||||||||||||||||||||||||||||||||||||||
Legal Advisors |
| | 835 | 1,275 | 875 | 595 | 595 | 595 | 595 | 595 | ||||||||||||||||||||||||||||||
Financial Advisors |
| | 580 | 480 | 1,200 | 400 | 400 | 400 | 400 | 400 | ||||||||||||||||||||||||||||||
Operational/Other Consultants |
| | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | ||||||||||||||||||||||||||||||
DIP Lenders |
| 200 | 500 | 570 | 350 | 350 | 350 | 350 | 350 | |||||||||||||||||||||||||||||||
Legal Advisors |
620 | 573 | | | | | | | | | ||||||||||||||||||||||||||||||
Financial Advisors |
||||||||||||||||||||||||||||||||||||||||
Second Lien Lenders |
| | | | | | | | | | ||||||||||||||||||||||||||||||
Unsecured Creditors |
| | 160 | 400 | 400 | 280 | 280 | 280 | 280 | 280 | ||||||||||||||||||||||||||||||
Other |
| 1,000 | 100 | 100 | 130 | 100 | 100 | 130 | 100 | 100 | ||||||||||||||||||||||||||||||
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|
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|
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|
|||||||||||||||||||||
Total Bankruptcy & Professional Fees |
$ | 620 | $ | 1,573 | $ | 1,925 | $ | 2,805 | $ | 3,225 | $ | 1,775 | $ | 1,775 | $ | 1,805 | $ | 1,775 | $ | 1,775 | ||||||||||||||||||||
CAPEX CASH DISBURSEMENTS |
||||||||||||||||||||||||||||||||||||||||
Maintenance/Other |
$ | | $ | | $ | | $ | 922 | $ | 2,034 | $ | 1,384 | $ | 1,269 | $ | 423 | $ | | $ | | ||||||||||||||||||||
Clipper Project |
| 39,820 | 26,619 | 10,000 | 14,709 | 18,507 | 21,953 | | | | ||||||||||||||||||||||||||||||
Gomez #9 Project |
| | | | | | | | 15,000 | 20,000 | ||||||||||||||||||||||||||||||
Total Plugging & Abandonment |
| | 25,900 | 6,200 | 8,100 | 6,000 | 2,000 | 1,700 | 1,000 | 1,000 | ||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||
TOTAL CAPEX |
$ | | $ | 39,820 | $ | 52,519 | $ | 17,122 | $ | 24,843 | $ | 25,891 | $ | 25,222 | $ | 2,123 | $ | 16,000 | $ | 21,000 | ||||||||||||||||||||
FINANCING PAYMENTS |
||||||||||||||||||||||||||||||||||||||||
1st Lien Principal + Interest |
$ | 367,339 | $ | | $ | | $ | | $ | | $ | | $ | | $ | | $ | | $ | | ||||||||||||||||||||
New Facility Payments |
6,937 | 4,500 | 5,926 | 5,807 | 5,918 | 5,992 | 5,751 | 5,841 | 5,928 | 6,018 | ||||||||||||||||||||||||||||||
Vendor Deferrals (Critical Only) |
| | | | | | | | | | ||||||||||||||||||||||||||||||
NPIs/ORRIs in Arrears |
| | | | | | | | | | ||||||||||||||||||||||||||||||
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|
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|
|
|||||||||||||||||||||
Total Financing Disbursements |
$ | 374,276 | $ | 4,500 | $ | 5,926 | $ | 5,807 | $ | 5,918 | $ | 5,992 | $ | 5,751 | $ | 5,841 | $ | 5,928 | $ | 6,018 | ||||||||||||||||||||
New Facility Financing |
$ | 406,339 | $ | 39,128 | $ | 78,400 | $ | 58,800 | $ | | $ | 29,400 | $ | | $ | | $ | | $ | 24,500 | ||||||||||||||||||||
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|
|
|
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|
|
|
|
|
|
|
|||||||||||||||||||||
TOTAL CASH FLOW |
$ | 40,934 | $ | (7,403 | ) | $ | (12,150 | ) | $ | 22,149 | $ | (30,145 | ) | $ | 11,070 | $ | (5,185 | ) | $ | 8,301 | $ | 3,947 | $ | 15,861 | ||||||||||||||||
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|
|||||||||||||||||||||
DIP Repayment |
| | | | | | | | | | ||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||
ENDING CASH |
$ | 47,157 | $ | 39,753 | $ | 27,604 | $ | 49,753 | $ | 19,608 | $ | 30,677 | $ | 25,493 | $ | 33,794 | $ | 37,741 | $ | 53,602 | ||||||||||||||||||||
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|
|||||||||||||||||||||
CASH + AVAILABILITY |
$ | 257,157 | $ | 216,753 | $ | 142,604 | $ | 104,753 | $ | 74,608 | $ | 55,677 | $ | 50,493 | $ | 58,794 | $ | 62,741 | $ | 53,602 | ||||||||||||||||||||
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|
|
ATP OIL & GAS | SCHEDULE: | 2 | ||||||||||||||||||||||||||||||||||
2012 PLAN - MONTHLY | 6/30/2013 | 7/31/2013 | 8/31/2013 | 9/30/2013 | 10/31/2013 | 11/30/2013 | 12/31/2013 | 1/31/2014 | 2/28/2014 | |||||||||||||||||||||||||||
USA CASH FLOW FORECAST |
6/1/2013 | 7/1/2013 | 8/1/2013 | 9/1/2013 | 10/1/2013 | 11/1/2013 | 12/1/2013 | 1/1/2014 | 2/1/2014 | |||||||||||||||||||||||||||
BEGINNING CASH BALANCE |
$ | 53,602 | $ | 33,524 | $ | 22,233 | $ | 20,165 | $ | 30,000 | $ | 30,000 | $ | 30,000 | $ | 30,000 | $ | 35,302 | ||||||||||||||||||
GROSS REVENUE |
||||||||||||||||||||||||||||||||||||
Gross Oil Revenue |
$ | 75,540 | $ | 72,982 | $ | 84,789 | $ | 83,704 | $ | 76,301 | $ | 74,381 | $ | 67,991 | $ | 62,855 | $ | 58,785 | ||||||||||||||||||
Gross Gas Revenue |
5,228 | 5,539 | 7,691 | 7,682 | 7,257 | 7,384 | 7,208 | 7,248 | 6,224 | |||||||||||||||||||||||||||
Gross NGL Revenue |
4,600 | 5,054 | 7,611 | 7,575 | 7,169 | 7,249 | 6,870 | 6,725 | 5,776 | |||||||||||||||||||||||||||
Other |
| | | | | | | | | |||||||||||||||||||||||||||
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|
|
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|
|
|
|||||||||||||||||||
Total Gross Revenue |
$ | 85,369 | $ | 83,575 | $ | 100,091 | $ | 98,960 | $ | 90,727 | $ | 89,014 | $ | 82,068 | $ | 76,828 | $ | 70,784 | ||||||||||||||||||
LESS: ESCROWED FUNDS |
$ | 3,814 | $ | 5,478 | $ | 12,290 | $ | 3,882 | $ | 590 | $ | 599 | $ | 571 | $ | 584 | $ | 575 | ||||||||||||||||||
OUTSIDE OWNER DISTRIBUTIONS |
||||||||||||||||||||||||||||||||||||
Govt Distributions |
$ | 8,265 | $ | 8,184 | $ | 8,105 | $ | 10,162 | $ | 10,083 | $ | 9,185 | $ | 8,956 | $ | 8,211 | $ | 7,539 | ||||||||||||||||||
Owner Distributions |
6,142 | 6,205 | 5,964 | 6,355 | 6,049 | 5,529 | 5,397 | 4,951 | 4,722 | |||||||||||||||||||||||||||
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|
|
|
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|
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|
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|
|
|
|
|
|
|||||||||||||||||||
Total Outside Owner Distributions |
$ | 14,407 | $ | 14,389 | $ | 14,068 | $ | 16,517 | $ | 16,131 | $ | 14,715 | $ | 14,353 | $ | 13,161 | $ | 12,261 | ||||||||||||||||||
TERM RELATED PRODUCTION PAYMENTS |
||||||||||||||||||||||||||||||||||||
ORRI Payments |
$ | 12,677 | $ | 13,063 | $ | 17,303 | $ | 16,807 | $ | 15,559 | $ | 15,398 | $ | 12,712 | $ | 8,203 | $ | 7,229 | ||||||||||||||||||
NPI Payments |
14,241 | 13,738 | 12,487 | 13,229 | 14,007 | 12,060 | 9,553 | 8,504 | 6,963 | |||||||||||||||||||||||||||
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|
|
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|
|
|
|||||||||||||||||||
Total Term Related Production Payments |
$ | 26,918 | $ | 26,801 | $ | 29,789 | $ | 30,036 | $ | 29,566 | $ | 27,458 | $ | 22,265 | $ | 16,708 | $ | 14,193 | ||||||||||||||||||
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|
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|
|
|
|||||||||||||||||||
NET REVENUE |
$ | 40,229 | $ | 36,907 | $ | 43,944 | $ | 48,525 | $ | 44,439 | $ | 46,242 | $ | 44,879 | $ | 46,375 | $ | 43,756 | ||||||||||||||||||
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|
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|
|
|
|||||||||||||||||||
DERIVATIVE SETTLEMENTS |
$ | | $ | | $ | | $ | | $ | | $ | | $ | | $ | | $ | | ||||||||||||||||||
|
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|
|||||||||||||||||||
PRODUCTION/DERIVATIVE RECEIPTS |
$ | 40,229 | $ | 36,907 | $ | 43,944 | $ | 48,525 | $ | 44,439 | $ | 46,242 | $ | 44,879 | $ | 46,375 | $ | 43,756 | ||||||||||||||||||
|
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|
|
|||||||||||||||||||
LEASE OPERATING CASH DISBURSEMENTS |
$ | 9,000 | $ | 10,925 | $ | 10,770 | $ | 9,600 | $ | 9,320 | $ | 9,500 | $ | 9,302 | $ | 9,500 | $ | 9,500 | ||||||||||||||||||
PIPELINE & PLATFORM DISBURSEMENTS |
||||||||||||||||||||||||||||||||||||
Gomez Pipeline Obligation |
$ | 976 | $ | 1,565 | $ | 1,544 | $ | 1,488 | $ | 1,676 | $ | 1,843 | $ | 1,877 | $ | 1,849 | $ | 1,646 | ||||||||||||||||||
Titan Fee (Used for Principal + Interest) |
5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | |||||||||||||||||||||||||||
ATPIP Fees |
1,519 | 3,403 | 3,348 | 3,187 | 3,245 | 3,089 | 3,146 | 3,098 | 2,751 | |||||||||||||||||||||||||||
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|
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|
|
|
|
|
|
|||||||||||||||||||
Total Infrastructure Disbursements |
$ | 7,495 | $ | 9,968 | $ | 9,892 | $ | 9,676 | $ | 9,921 | $ | 9,933 | $ | 10,023 | $ | 9,947 | $ | 9,397 | ||||||||||||||||||
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|
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|
|
|||||||||||||||||||
NET OPERATING CASH FLOW |
$ | 23,734 | $ | 16,015 | $ | 23,281 | $ | 29,249 | $ | 25,198 | $ | 26,810 | $ | 25,554 | $ | 26,928 | $ | 24,859 | ||||||||||||||||||
|
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|
|
|||||||||||||||||||
GENERAL & ADMINISTRATIVE |
||||||||||||||||||||||||||||||||||||
US General & Administrative |
||||||||||||||||||||||||||||||||||||
Compensation Expense |
$ | 1,000 | $ | 1,000 | $ | 1,000 | $ | 1,000 | $ | 1,000 | $ | 1,000 | $ | 1,000 | $ | 1,000 | $ | 1,000 | ||||||||||||||||||
Rent Expense |
| 102 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | |||||||||||||||||||||||||||
Office & General Expense |
| 168 | 84 | 84 | 84 | 84 | 84 | 84 | 84 | |||||||||||||||||||||||||||
Travel Related |
| 76 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | |||||||||||||||||||||||||||
D&O |
| 160 | 80 | 80 | 80 | 80 | 80 | 80 | 80 | |||||||||||||||||||||||||||
Other |
1,423 | 1,321 | 818 | 411 | 665 | 928 | 1,135 | 832 | 711 | |||||||||||||||||||||||||||
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|
|||||||||||||||||||
Total US General & Administrative |
$ | 2,423 | $ | 2,827 | $ | 2,071 | $ | 1,665 | $ | 1,918 | $ | 2,181 | $ | 2,388 | $ | 2,085 | $ | 1,964 | ||||||||||||||||||
UK General & Administrative |
||||||||||||||||||||||||||||||||||||
Professional Fees |
$ | | $ | | $ | | $ | | $ | | $ | | $ | | $ | | $ | | ||||||||||||||||||
Other |
331 | 331 | 331 | 331 | 331 | 331 | 331 | 331 | 331 | |||||||||||||||||||||||||||
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|
|||||||||||||||||||
Total UK General & Administrative |
$ | 331 | $ | 331 | $ | 331 | $ | 331 | $ | 331 | $ | 331 | $ | 331 | $ | 331 | $ | 331 | ||||||||||||||||||
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|
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|
|||||||||||||||||||
Total General & Administrative |
$ | 2,754 | $ | 3,158 | $ | 2,402 | $ | 1,996 | $ | 2,249 | $ | 2,512 | $ | 2,719 | $ | 2,416 | $ | 2,295 | ||||||||||||||||||
NETHERLANDS FUNDING |
$ | 53 | $ | 53 | $ | 53 | $ | 53 | $ | 53 | $ | 53 | $ | 53 | $ | 53 | $ | 53 | ||||||||||||||||||
BANKRUPTCY & PROFESSIONAL FEES |
||||||||||||||||||||||||||||||||||||
Company |
||||||||||||||||||||||||||||||||||||
Legal Advisors |
595 | 595 | 595 | 595 | 595 | 595 | 595 | 595 | 3,830 | |||||||||||||||||||||||||||
Financial Advisors |
400 | 400 | 400 | 400 | 400 | 400 | 400 | 400 | 8,865 | |||||||||||||||||||||||||||
Operational/Other Consultants |
50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 100 | |||||||||||||||||||||||||||
DIP Lenders |
350 | 350 | 350 | 350 | 350 | 400 | 450 | 500 | 1,000 | |||||||||||||||||||||||||||
Legal Advisors |
| | | | | | | | | |||||||||||||||||||||||||||
Financial Advisors |
| | | | | | | | | |||||||||||||||||||||||||||
Second Lien Lenders |
| | | | | | | | | |||||||||||||||||||||||||||
Unsecured Creditors |
280 | 280 | 280 | 280 | 280 | 320 | 360 | 400 | 2,210 | |||||||||||||||||||||||||||
Other |
130 | 100 | 100 | 130 | 100 | 100 | 130 | 1,500 | 230 | |||||||||||||||||||||||||||
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|
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|
|||||||||||||||||||
Total Bankruptcy & Professional Fees |
$ | 1,805 | $ | 1,775 | $ | 1,775 | $ | 1,805 | $ | 1,775 | $ | 1,865 | $ | 1,985 | $ | 3,445 | $ | 16,235 | ||||||||||||||||||
CAPEX CASH DISBURSEMENTS |
||||||||||||||||||||||||||||||||||||
Maintenance/Other |
$ | | $ | 720 | $ | 720 | $ | 720 | $ | 720 | $ | 720 | $ | 720 | $ | 9,145 | $ | | ||||||||||||||||||
Clipper Project |
| | | | | | | | | |||||||||||||||||||||||||||
Gomez #9 Project |
30,000 | 15,000 | 10,000 | | | | | | | |||||||||||||||||||||||||||
Total Plugging & Abandonment |
3,800 | 1,200 | 5,000 | 3,000 | 5,500 | 6,600 | 7,900 | | | |||||||||||||||||||||||||||
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|
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|
|||||||||||||||||||
TOTAL CAPEX |
$ | 33,800 | $ | 16,920 | $ | 15,720 | $ | 3,720 | $ | 6,220 | $ | 7,320 | $ | 8,620 | $ | 9,145 | $ | | ||||||||||||||||||
FINANCING PAYMENTS |
||||||||||||||||||||||||||||||||||||
1st Lien Principal + Interest |
$ | | $ | | $ | | $ | | $ | | $ | | $ | | $ | | $ | 3,570 | ||||||||||||||||||
New Facility Payments |
5,400 | 5,400 | 5,400 | 5,400 | 5,346 | 5,267 | 5,185 | 5,127 | 5,071 | |||||||||||||||||||||||||||
Vendor Deferrals (Critical Only) |
| | | | | | | | | |||||||||||||||||||||||||||
NPIs/ORRIs in Arrears |
| | | | | | | | | |||||||||||||||||||||||||||
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|
|
|
|||||||||||||||||||
Total Financing Disbursements |
$ | 5,400 | $ | 5,400 | $ | 5,400 | $ | 5,400 | $ | 5,346 | $ | 5,267 | $ | 5,185 | $ | 5,127 | $ | 8,641 | ||||||||||||||||||
New Facility Financing |
$ | | $ | | $ | | $ | | $ | | $ | | $ | | $ | | $ | | ||||||||||||||||||
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|
|
|
|
|
|
|
|||||||||||||||||||
TOTAL CASH FLOW |
$ | (20,078 | ) | $ | (11,291 | ) | $ | (2,068 | ) | $ | 16,276 | $ | 9,555 | $ | 9,793 | $ | 6,992 | $ | 6,742 | $ | (2,364 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
DIP Repayment |
| | | 6,441 | 9,555 | 9,793 | 6,992 | 1,440 | 2,938 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
ENDING CASH |
$ | 33,524 | $ | 22,233 | $ | 20,165 | $ | 30,000 | $ | 30,000 | $ | 30,000 | $ | 30,000 | $ | 35,302 | $ | 30,000 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
CASH + AVAILABILITY |
$ | 33,524 | $ | 22,233 | $ | 20,165 | $ | 30,000 | $ | 30,000 | $ | 30,000 | $ | 30,000 | $ | 35,302 | $ | 30,000 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exhibit 99.2
UNITED STATES BANKRUPTCY COURT
MOR-1
CASE NAME: | ATP Oil & Gas Corporation |
PETITION DATE: | 8/17/2012 | |||||
CASE NUMBER: | 12-36187 |
DISTRICT OF TEXAS: | Southern | |||||
PROPOSED PLAN DATE: | To be determined |
DIVISION: | Houston |
MONTHLY OPERATING REPORT SUMMARY FOR MONTH | YEAR |
MONTH |
8/17/12 to 8/31/12 | |||||||||||||||||||||||
REVENUES (MOR-6) |
$ | 17,962,067 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
INCOME BEFORE INT; DEPREC./TAX (MOR-6) |
918,169 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||
NET INCOME (LOSS) (MOR-6) |
(33,399,588 | ) | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
PAYMENTS TO INSIDERS (MOR-9) |
75,859 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||
PAYMENTS TO PROFESSIONALS (MOR-9) |
0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
TOTAL DISBURSEMENTS (MOR-8) |
$ | 386,317,124 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
*** The original of this document must be filed with the United States Bankruptcy Court and a copy must be sent to the United States Trustee***
MOR-1 | Revised 07/01/98 |
CASE NAME: | ATP Oil & Gas Corporation | |
CASE NUMBER: | 12-36187 |
COMPARATIVE BALANCE SHEETS
ASSETS |
FILING
DATE* 8/17/2012 |
MONTH 8/31/2012 |
MONTH | MONTH | MONTH | MONTH | MONTH | |||||||||||
CURRENT ASSETS |
||||||||||||||||||
Cash |
$ | 4,348,867 | $ | 45,374,005 | ||||||||||||||
Restricted Cash |
4,840,908 | 14,841,112 | ||||||||||||||||
Accounts Receivable, Net |
48,962,845 | 47,390,739 | ||||||||||||||||
Accounts Receivable, Affiliates |
699,367,083 | 705,099,121 | ||||||||||||||||
Prepaid Expenses and Other Current Assets |
18,938,661 | 26,524,703 | ||||||||||||||||
|
|
|
|
|
|
|
|
| ||||||||||
TOTAL CURRENT ASSETS |
776,458,364 | 839,229,680 | ||||||||||||||||
|
|
|
|
|
|
|
|
| ||||||||||
Oil & Gas Properties |
2,914,007,759 | 2,939,625,568 | ||||||||||||||||
Less Accumulated DD&A and Impairment |
1,622,583,195 | 1,636,941,332 | ||||||||||||||||
OIL & GAS PROPERTIES, NET |
1,291,424,564 | 1,302,684,236 | ||||||||||||||||
OTHER ASSETS |
||||||||||||||||||
1. Deferred Tax Assets |
0 | 0 | ||||||||||||||||
2. Investments in Affiliates |
892,154,554 | 888,614,697 | ||||||||||||||||
3. Deferred Financing Costs - net |
2,075,258 | 2,171,506 | ||||||||||||||||
4. Furnitures & Fixtures, net |
482,093 | 463,201 | ||||||||||||||||
5. Other Non current Receivable |
12,269,065 | 12,273,726 | ||||||||||||||||
|
|
|
|
|
|
|
|
| ||||||||||
TOTAL ASSETS |
$ | 2,974,863,898 | $ | 3,045,437,046 | ||||||||||||||
|
|
|
|
|
|
|
|
|
* | Per Schedules and Statement of Affairs |
MOR-2 | Revised 07/01/98 |
CASE NAME: | ATP Oil & Gas Corporation | |
CASE NUMBER: | 12-36187 |
COMPARATIVE BALANCE SHEETS
LIABILITIES & OWNERS EQUITY |
FILING
DATE* 8/17/2012 |
MONTH 8/31/2012 |
MONTH | MONTH | MONTH | MONTH | MONTH | |||||||||||
LIABILITIES |
||||||||||||||||||
POST-PETITION LIABILITIES(MOR-4) |
$ | | $ | 488,258,910 | ||||||||||||||
PRE-PETITION LIABILITIES |
||||||||||||||||||
Secured obligations |
2,032,708,051 | 1,668,900,806 | ||||||||||||||||
Priority unsecured obligations |
11,287,816 | 11,287,816 | ||||||||||||||||
Unsecured obligations |
262,665,747 | 262,665,747 | ||||||||||||||||
Other pre-petition obligations |
0 | 0 | ||||||||||||||||
|
|
|
|
|
|
|
|
| ||||||||||
TOTAL CLAIMABLE PRE-PETITION LIABILITIES |
2,306,661,614 | 1,942,854,369 | ||||||||||||||||
|
|
|
|
|
|
|
|
| ||||||||||
Asset Retirement Obligation (1) |
149,468,228 | 150,114,665 | ||||||||||||||||
Derivative Liability |
1,962,381 | 0 | ||||||||||||||||
Other Long-term obligations (2) |
533,408,331 | 498,726,344 | ||||||||||||||||
|
|
|
|
|
|
|
|
| ||||||||||
TOTAL LIABILITIES |
2,991,500,554 | 3,079,954,288 | ||||||||||||||||
|
|
|
|
|
|
|
|
| ||||||||||
OWNERS EQUITY (DEFICIT) |
||||||||||||||||||
PREFERRED STOCK |
277,406,044 | 277,406,044 | ||||||||||||||||
COMMON STOCK |
52,660 | 52,660 | ||||||||||||||||
TREASURY STOCK |
(911,729 | ) | (911,729 | ) | ||||||||||||||
ADDITIONAL PAID-IN CAPITAL |
536,339,243 | 536,976,475 | ||||||||||||||||
8/1-8/17 TRANSLATION ADJUSTMENT (3) |
(14,881,770 | ) | 0 | |||||||||||||||
RETAINED EARNINGS: Filing Date |
(814,641,104 | ) | (814,641,104 | ) | ||||||||||||||
RETAINED EARNINGS: Post Filing Date |
0 | (33,399,588 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
| ||||||||||
TOTAL OWNERS EQUITY (NET WORTH) |
(16,636,656 | ) | (34,517,242 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
| ||||||||||
TOTAL LIABILITIES & OWNERS EQUITY |
$ | 2,974,863,898 | $ | 3,045,437,046 | ||||||||||||||
|
|
|
|
|
|
|
|
|
* | Per Schedules and Statement of Affairs |
(1) | ARO represents GAAP present value estimate of future cash flows. ARO is subject to certain potential bonding requirements which have not been determined as of the date of this filing. |
(2) | Other long-term obligations include term NPI and ORRI interests which are accounted for as long-term obligations under GAAP because they are granted on proved properties where production is reasonably assured. These are not true liabilities incurred until production occurs. |
(3) | Our August 17 through August 31, 2012 income was estimated using an allocation of 15/31 days for certain line items. Our balance sheet line items represent the August 17 balances when possible: otherwise amounts presented represent July 31 balances. Because of this, an equity translation adjustment is required. |
MOR-3 | Revised 07/01/98 |
CASE NAME: | ATP Oil & Gas Corporation | |
CASE NUMBER: | 12-36187 |
SCHEDULE OF POST-PETITION LIABILITIES
MONTH 8/31/2012 |
MONTH | MONTH | MONTH | MONTH | MONTH | |||||||||
TRADE ACCOUNTS PAYABLE |
$ | 11,682,314 | ||||||||||||
ACCOUNTS PAYABLE - AFFILIATES |
||||||||||||||
TAX PAYABLE |
||||||||||||||
Federal Payroll Taxes |
0 | |||||||||||||
State Payroll Taxes |
0 | |||||||||||||
Ad Valorem Taxes |
0 | |||||||||||||
Other Taxes |
0 | |||||||||||||
|
|
|
|
|
|
| ||||||||
TOTAL TAXES PAYABLE |
0 | |||||||||||||
|
|
|
|
|
|
| ||||||||
SECURED DEBT POST-PETITION |
414,344,609 | |||||||||||||
ACCRUED INTEREST PAYABLE |
583,204 | |||||||||||||
ACCRUED PROFESSIONAL FEES* |
746,512 | |||||||||||||
OTHER ACCRUED LIABILITIES |
||||||||||||||
1. Payroll accruals |
0 | |||||||||||||
2. Other accruals |
44,122,915 | |||||||||||||
3. Other payables |
16,779,356 | |||||||||||||
|
|
|
|
|
|
| ||||||||
TOTAL POST-PETITION LIABILITIES (MOR-3) |
$ | 488,258,910 | ||||||||||||
|
|
|
|
|
|
|
* | Payment requires Court Approval |
MOR-4 | Revised 07/01/98 |
CASE NAME: | ATP Oil & Gas Corporation | |
CASE NUMBER: | 12-36187 |
AGING OF POST-PETITION LIABILITIES | ||||||
MONTH | 8/31/2012 |
DAYS |
TOTAL | TRADE ACCOUNTS |
FEDERAL TAXES |
STATE TAXES |
AD VALOREM, OTHER TAXES |
|||||||||||||||
0-30 |
$ | 11,682,314 | $ | 11,682,314 | $ | | $ | | $ | | ||||||||||
31-60 |
0 | 0 | 0 | 0 | 0 | |||||||||||||||
61-90 |
0 | 0 | 0 | 0 | 0 | |||||||||||||||
91 + |
0 | 0 | 0 | 0 | 0 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
TOTAL |
$ | 11,682,314 | $ | 11,682,314 | $ | | $ | | $ | | ||||||||||
|
|
|
|
|
|
|
|
|
|
AGING OF ACCOUNTS RECEIVABLE
DAYS |
TOTAL | Revenue | Joint Interest (1) | Other | ||||||||||||
0-30 DAYS |
$ | 44,228,008 | $ | 39,615,379 | $ | 4,612,629 | $ | | ||||||||
31-60 DAYS |
(160,196 | ) | (160,196 | ) | 0 | 0 | ||||||||||
61-90 DAYS |
757,314 | 0 | 757,314 | 0 | ||||||||||||
91+ DAYS |
2,565,613 | (225,945 | ) | 2,665,023 | 126,535 | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
TOTAL |
$ | 47,390,739 | $ | 39,229,238 | $ | 8,034,966 | $ | 126,535 | ||||||||
|
|
|
|
|
|
|
|
(1) | 91+ day balance includes $2,013,375 of amounts being withheld over WI% dispute and $527,613 of amounts regarding Black Elk/Nippon lawsuit |
MOR-5 | Revised 07/01/98 |
CASE NAME: | ATP Oil & Gas Corporation | |
CASE NUMBER: | 12-36187 |
STATEMENT OF INCOME (LOSS)
MONTH 8/17/12 to 8/31/12 |
MONTH | MONTH | MONTH | MONTH | MONTH | FILING TO DATE |
||||||||||||
REVENUES (MOR-1) |
$ | 17,962,067 | $ | 17,962,067 | ||||||||||||||
0 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||
GROSS PROFIT |
17,962,067 | 17,962,067 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||
OPERATING EXPENSES: |
||||||||||||||||||
Lease Operating Expenses |
3,596,446 | 3,596,446 | ||||||||||||||||
Processing fees, related party |
3,456,290 | 3,456,290 | ||||||||||||||||
DD&A /Impairment |
6,958,244 | 6,958,244 | ||||||||||||||||
Accretion |
508,076 | 508,076 | ||||||||||||||||
Abandonment (Gain)/Loss |
32,108 | 32,108 | ||||||||||||||||
Compensation Expense |
778,853 | 778,853 | ||||||||||||||||
Professional Fees |
1,582,462 | 1,582,462 | ||||||||||||||||
Other General & Administrative |
131,419 | 131,419 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||
TOTAL OPERATING EXPENSES |
17,043,898 | 17,043,898 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||
INCOME (LOSS) FROM OPERATIONS (MOR-1) |
918,169 | 918,169 | ||||||||||||||||
INTEREST INCOME |
2,033,953 | 2,033,953 | ||||||||||||||||
INTEREST (EXPENSE), NET |
(2,191,113 | ) | (2,191,113 | ) | ||||||||||||||
DERIVATIVES GAIN/(LOSS) |
0 | 0 | ||||||||||||||||
DEBT EXTINGUISHMENT GAIN/(LOSS) |
(6,937,100 | ) | (6,937,100 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||
TOTAL INT. DER & OTHER ITEMS |
(7,094,260 | ) | (7,094,260 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||
NET INCOME (LOSS) BEFORE REORGANIZATION |
(6,176,091 | ) | (6,176,091 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||
REORGANIZATION (EXPENSES): |
||||||||||||||||||
US Trustee fees |
(30,000 | ) | (30,000 | ) | ||||||||||||||
Professional fees |
(1,037,305 | ) | (1,037,305 | ) | ||||||||||||||
Debt valuation adjustments |
0 | 0 | ||||||||||||||||
Claims adjustments |
(26,156,192 | ) | (26,156,192 | ) | ||||||||||||||
Interest income |
0 | 0 | ||||||||||||||||
REORGANIZATION EXPENSES, NET: |
(27,223,497 | ) | (27,223,497 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||
NET INCOME (LOSS) (MOR-1) |
$ | (33,399,588 | ) | $ | (33,399,588 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
Accrual Accounting Required. Otherwise Footnote with Explanation.
MOR-6 | Revised 07/01/98 |
CASE NAME: | ATP Oil & Gas Corporation | |
CASE NUMBER: | 12-36187 |
CASH RECEIPTS AND DISBURSEMENTS |
MONTH 8/17/12 to 8/31/12 |
MONTH | MONTH | MONTH | MONTH | MONTH | FILING TO DATE |
|||||||||||
l. CASH-BEGINNING OF PERIOD |
$ | 4,348,867 | $ | 4,348,867 | ||||||||||||||
RECEIPTS: |
||||||||||||||||||
1. COLLECTION OF NET REVENUE ACCOUNTS RECEIVABLE |
21,003,439 | 21,003,439 | ||||||||||||||||
2. COLLECTION OF JOINT INTEREST ACCOUNTS RECEIVABLE |
0 | 0 | ||||||||||||||||
3. OTHER OPERATING RECEIPTS (See Attached) |
0 | 0 | ||||||||||||||||
4. FINANCING RECEIPTS (See Attached) |
406,338,823 | 406,338,823 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||
TOTAL RECEIPTS** |
427,342,262 | 427,342,262 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||
(Withdrawal) Contribution by Individual Debtor MFR-2* |
0 | |||||||||||||||||
DISBURSEMENTS: |
||||||||||||||||||
5. TERM-LIMITED ORRI |
940,089 | 940,089 | ||||||||||||||||
6. TERM-LIMITED NPI |
0 | 0 | ||||||||||||||||
7. DERIVATIVE SETTLEMENTS PAID (RECEIVED) |
2,141,118 | 2,141,118 | ||||||||||||||||
8. LEASE OPERATING COSTS |
0 | 0 | ||||||||||||||||
9. GOMEZ PIPELINE OBLIGATION |
830,833 | 830,833 | ||||||||||||||||
10. TITAN FEE (USED FOR PRINCIPAL + INTEREST) |
5,500,000 | 5,500,000 | ||||||||||||||||
11. ATPIP FEES |
1,571,182 | 1,571,182 | ||||||||||||||||
12. GENERAL & ADMINISTRATIVE (See Attached) |
437,500 | 437,500 | ||||||||||||||||
13. OTHER OPERATING DISBURSEMENTS (See Attached) |
0 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||
TOTAL DISBURSEMENTS FROM OPERATIONS |
11,420,722 | 11,420,722 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||
14. CAPEX CASH DISBURSEMENTS (See Attached) |
0 | 0 | ||||||||||||||||
15. BANKRUPTCY & PROFESSIONAL FEES (See Attached) |
0 | 0 | ||||||||||||||||
16. FINANCING PAYMENTS PRINCIPAL AND INTEREST (See Attached) |
374,896,402 | 374,896,402 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||
TOTAL DISBURSEMENTS** |
386,317,124 | 386,317,124 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||
17. NET CASH FLOW |
41,025,138 | 41,025,138 | ||||||||||||||||
18. CASH - END OF MONTH (MOR-2) |
$ | 45,374,005 | $ | 45,374,005 | ||||||||||||||
|
|
|
|
|
|
|
|
|
* | Applies to Individual debtors only |
** | Numbers for the current month should balance (match) |
RECEIPTS and CHECKS/OTHER DISBURSEMENTS lines on MOR-8
MOR-7A | Revised 07/01/98 |
CASE NAME: | ATP Oil & Gas Corporation | |||
CASE NUMBER: | 12-36187 |
CASH RECEIPTS AND DISBURSEMENTS DETAIL |
MONTH 8/17/12 to 8/31/12 |
MONTH | MONTH | MONTH | MONTH | MONTH | FILING TO DATE |
|||||||||||
OTHER OPERATING RECEIPTS (Line 3) |
$ | | $ | | ||||||||||||||
GENERAL & ADMINISTRATIVE (Line 12) |
||||||||||||||||||
Compensation |
352,523 | 352,523 | ||||||||||||||||
Rent |
| | ||||||||||||||||
Office and general costs |
| | ||||||||||||||||
Travel related |
| | ||||||||||||||||
D&O |
82,413 | 82,413 | ||||||||||||||||
Other costs |
2,564 | 2,564 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||
GENERAL & ADMINISTRATIVE TOTAL |
437,500 | 437,500 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||
BANKRUPTCY & PROFESSIONAL FEES (Line 15) |
||||||||||||||||||
Legal advisors |
| | ||||||||||||||||
Financial advisors |
| | ||||||||||||||||
Operational/Other consultants |
| | ||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||
BANKRUPTCY & PROFESSIONAL FEES TOTAL |
| | ||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||
OTHER OPERATING DISBURSMENTS (Line 13) |
| | ||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||
CAPEX CASH DISBURSMENTS (Line 14) |
||||||||||||||||||
Maintenance/Other |
| | ||||||||||||||||
Clipper project |
| | ||||||||||||||||
Gomez #9 project |
| | ||||||||||||||||
Plugging and abandonment of oil and gas properties |
| | ||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||
CAPEX CASH DISBURSMENTS TOTAL |
| | ||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||
FINANCING PAYMENTS - PRINCIPAL AND INTEREST (Line 16) |
||||||||||||||||||
1st lien principal and interest |
367,338,823 | 367,338,823 | ||||||||||||||||
New facility principal and interest |
6,937,100 | 6,937,100 | ||||||||||||||||
Legal fees related to new facility |
620,479 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||
FINANCING PAYMENTS - PRINCIPAL AND INTEREST TOTAL |
374,896,402 | 374,896,402 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||
FINANCING RECEIPTS (Line 4) |
||||||||||||||||||
New facility proceeds |
$ | 406,338,823 | $ | 406,338,823 | ||||||||||||||
|
|
|
|
|
|
|
|
|
CASE NAME: | ATP Oil & Gas Corporation | |
CASE NUMBER: | 12-36187 |
CASH ACCOUNT RECONCILIATION | ||||||
MONTH OF | 8/17/12 to 8/31/2012 |
BANK NAME | JPMorgan Chase | JPMorgan Chase | JPMorgan Chase | JPMorgan Chase | JPMorgan Chase | Compass Bank | ||||||||||||||||||||||
ACCOUNT NUMBER | 113334321 | 1000027441 | 6300050955 | 58902066488 | 113400841 | 2524118079 | ||||||||||||||||||||||
ACCOUNT TYPE |
Operating | Deposit | Controlled Disbursement | Cafeteria Plan | Other | Payroll | TOTAL | |||||||||||||||||||||
BANK BALANCE |
$ | 48,012,307 | $ | 15,299 | $ | | $ | 23,936 | $ | | $ | 229,607 | $ | 48,281,149 | ||||||||||||||
DEPOSITS IN TRANSIT |
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OUTSTANDING CHECKS |
| | 2,900,766 | 6,378 | | | 2,907,144 | |||||||||||||||||||||
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ADJUSTED BANK BALANCE |
$ | 48,012,307 | $ | 15,299 | $ | (2,900,766 | ) | $ | 17,558 | $ | | $ | 229,607 | $ | 45,374,005 | |||||||||||||
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BEGINNING CASH - PER BOOKS |
$ | 7,134,646 | $ | | $ | (2,900,766 | ) | $ | 18,151 | $ | 96,836 | $ | 4,348,867 | |||||||||||||||
RECEIPTS* |
426,621,745 | 720,517 | | | | | 427,342,262 | |||||||||||||||||||||
TRANSFERS BETWEEN ACCOUNTS |
(737,417 | ) | (705,218 | ) | 942,635 | | | 500,000 | | |||||||||||||||||||
(WITHDRAWAL) OR CONTRIBUTION BY INDIVIDUAL DEBTOR MFR-2 |
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CHECKS/OTHER DISBURSEMENTS* |
385,006,667 | | 942,635 | 593 | 367,229 | 386,317,124 | ||||||||||||||||||||||
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ENDING CASH - PER BOOKS |
$ | 48,012,307 | $ | 15,299 | $ | (2,900,766 | ) | $ | 17,558 | $ | | $ | 229,607 | $ | 45,374,005 | |||||||||||||
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* | Numbers should balance (match) TOTAL RECEIPTS and TOTAL DISBURSEMENTS lines on MOR-7 |
MOR-8 | Revised 07/01/98 |
CASE NAME: | ATP Oil & Gas Corporation | |
CASE NUMBER: | 12-36187 |
PAYMENTS TO INSIDERS AND PROFESSIONALS
Of the total disbursements shown for the month, list the amount paid to insiders (as defined in Section 101(31)(A)-(F) of the U.S. Bankruptcy Code) and the professionals. Also, for insiders, identify the type of compensation paid (e.g., salary, commission, bonus, etc.) (Attach additional pages as necessary).
INSIDERS: NAME/COMP TYPE |
MONTH 8/17/12 to 8/31/12 |
MONTH | MONTH | MONTH | MONTH | MONTH | ||||||||
1. T. Paul Bulmahn (salary) |
$ | 17,767 | ||||||||||||
2. Leland E. Tate (salary) |
14,634 | |||||||||||||
3. Albert L. Reese Jr. (salary) |
11,577 | |||||||||||||
4. George R. Morris (salary) |
11,848 | |||||||||||||
5. John E. Tschirhart (salary) |
8,731 | |||||||||||||
6. Keith R. Godwin (salary) |
11,302 | |||||||||||||
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TOTAL INSIDERS (MOR-1) |
$ | 75,859 | ||||||||||||
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PROFESSIONALS |
MONTH 8/17/12 to 8/31/12 |
MONTH | MONTH | MONTH | MONTH | MONTH | ||||||||
1. |
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TOTAL PROFESSIONALS (MOR-1) |
$ | | ||||||||||||
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MOR-9 | Revised 07/01/98 |
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