Reserve Report

Reserve Report. The Initial Reserve Report and each subsequent report, in form and substance reasonably satisfactory to the Administrative Agent, setting forth, as of each of the following dates: April 1, 2020 and each April 1 thereafter July 1, 2020 and each July 1 thereafter October 1, 2020 and each October 1 thereafter January 1, 2021 and each January 1 thereafter (or such other date in the event of an Interim Redetermination), the oil and gas reserves attributable to the Oil and Gas Properties of the... Borrower and the other Credit Parties, together with a projection of the rate of production and future net income, taxes, operating expenses and capital expenditures with respect thereto as of such date, based upon the pricing assumptions consistent with the Administrative Agent's lending requirements at such time. View More