oil floor

[′ȯil ‚flȯr]

(geology)

In a sedimentary basin, the depth below which there is no economic oil accumulation.

References in periodicals archive ?

TOCOM set the closing time of the night session at 4:30 to coincide with the closing of New York crude oil floor trading.

TOCOM to Extend Trading Hours

Included in our purchase is a $65 oil floor through May of 2007 on approximately 50 percent of total anticipated production in the East Texas Field; we are confident these are excellent cash flow-producing properties.

Texas Energy Holdings Announces It Has Expanded Its Asset Base in the Booming Cotton Valley Field and East Texas Field Region with $3.5 Million Investment; Energy Investment Firm Purchases Interest in More Than 100 Wells

99 Note: Subsequent to June 30, 2006, the Company entered into oil floor contracts representing 2,000 Bbls/d at an average price of $60/Bbl for the second half of 2008 and natural gas floor contracts representing 10,000 Mcf/d at an average price of $6.

Encore Acquisition Company Announces Second Quarter 2006 Financial and Operating Results

WTI Oil Prices Barrels of Period of Time Oil Floor Cap Oct 1, 2006 thru Dec 31, 2006 27,600 $ 65.

Parallel Petroleum Announces Additional Oil Hedges

PARALLEL PETROLEUM CORPORATION HEDGING INFORMATION (a) COSTLESS COLLARS: Houston Ship NYMEX Channel Barrels Oil Prices MMBTU of Gas Prices of Natural Period of Time Oil Floor Cap Gas Floor Cap Apr 1, 2005 thru Oct 31, 2005 - - - 428,000 $5.

Parallel Petroleum Announces Fourth Quarter and Year End 2004 Financial Results

PARALLEL PETROLEUM CORPORATION HEDGING INFORMATION COSTLESS COLLARS: Houston Ship NYMEX Channel Oil Prices MMBTU of Gas Prices Barrels of Natural Period of Time Oil Floor Cap Gas Floor Cap 2004 remainder(a) -- -- -- 31,000 $4.

Parallel Petroleum Announces Third Quarter 2004 Financial Results

The Company also announced that since its last update on March 12, 2003, it has purchased a crude oil floor for 30,000 barrels for May with a floor price of $26.

Swift Energy Reaffirms Annual Production Guidance and Updates Operational Activity

60 per barrel West Texas Intermediate (WTI) floor or approximately a $20 per barrel price for 13 degrees heavy oil floor on 3,000 BOPD beginning on June 1, 2001.

Berry Petroleum Enters Agreement With SoCal Edison: Restarts Its 42 Megawatt Cogeneration Facility and Provides Update

Additionally, crude oil floors have been purchased for the third quarter 2010 covering 5% of that quarter's estimated domestic crude oil production with a NYMEX strike price of $79.

Swift Energy Announces: First Quarter 2010 Earnings of $14.2 Million, or $0.37 Per Diluted Share; First Quarter 2010 Adjusted Cash Flow of $64.0 Million, or $1.69 Per Diluted Share

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

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 Earnings Conference Call

Encore Acquisition Company ("Encore") (NYSE:EAC) recently bought crude oil floors with a strike price of $25 per barrel.