SUBSEQUENT EVENTS |
9 Months Ended | |
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Sep. 30, 2017 | ||
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| Subsequent Events [Text Block] |
NOTE 10 SUBSEQUENT EVENTS
Subsequent to September 30, 2017, the Company entered into additional derivative contracts in the form of costless collars of WTI Crude Oil prices in order to protect the Company’s cash flow from price fluctuation and maintain its capital programs. The contracts are for an additional 1,000 barrels of oil per day for the period of January 1, 2018 through December 31, 2018. On these new contracts, the put price is $51.00 and the call price is $54.80. |
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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