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oil floor

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oil floor [′ȯil ‚flȯr]
(geology)
In a sedimentary basin, the depth below which there is no economic oil accumulation.
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NYSE:EPL) (the Company) announced that it has established its first hedging program following its emergence from Chapter 11 bankruptcy proceedings with the purchase of crude oil floors and the placement of swap contracts that cover the period from October 2009 to December 2011.
EPL Announces Recently Placed Hedging Program by Business Wire
Price Risk Management Swift Energy has purchased crude oil floors that cover approximately 69% to 73% of its currently expected third quarter 2009 crude oil production at an average NYMEX strike price of $62.
Swift Energy Announces Second Quarter 2009 Results and Rescheduled ... by Business Wire
ADDITIONAL DERIVATIVES INFORMATION SUBSEQUENT TO JUNE 30, 2006 (1) (2) COSTLESS COLLARS: ----------------- Barrels of WTI Oil Prices ------------------- Period of Time Oil Floor Cap ----------------------------- ------------ ---------- -------- Oct 1, 2006 thru Dec 31, 2006 27,600 $65.
Parallel Petroleum Announces Second Quarter 2006 Financial Results by Business Wire
 
 
 
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