| Industries |
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| Oil and Gas Exploration and Production |
| Oil and Gas Storage and Transportation |
| Oil and Gas Refining and Marketing and Transportation |
| Transportation |
| Exposures |
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| Express intent |
| Intelligence |
| Military |
| Event Codes |
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| Promise |
| Riot |
| Human death |
| Yield to order |
| Yield |
| Reject |
| Solicit support |
| Threaten |
| Accident |
| Force |
| Wiki | Wiki Summary |
|---|---|
| Trust law | A trust is a legal relationship in which the holder of a right gives it to another person or entity who must keep and use it solely for another's benefit. In Anglo-American common law, the party who entrusts the right is known as the "settlor", the party to whom the right is entrusted is known as the "trustee", the party for whose benefit the property is entrusted is known as the "beneficiary", and the entrusted property itself is known as the "corpus" or "trust property". |
| Balance sheet | In financial accounting, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as government or not-for-profit entity. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year. |
| Cedar Fair | Cedar Fair, L.P., formally Cedar Fair Entertainment Company, is a publicly traded master limited partnership headquartered at its Cedar Point amusement park in Sandusky, Ohio. The company owns and operates twelve amusement parks, nine included admission outdoor waterparks, four separate admission outdoor water parks, one indoor water park, and fourteen hotels/lodging in the US and Canada. |
| A&W (Canada) | A&W is a fast food restaurant chain in Canada, franchised by A&W Food Services of Canada, Inc. The chain was originally part of the U.S.-based A&W Restaurants chain, but was sold to Unilever in 1972, and then bought by its management in 1995. |
| Price | A prince is a male ruler (ranked below a king, grand prince, and grand duke) or a male member of a monarch's or former monarch's family. Prince is also a title of nobility (often highest), often hereditary, in some European states. |
| Market trend | A market trend is a perceived tendency of financial markets to move in a particular direction over time. These trends are classified as secular for long time frames, primary for medium time frames, and secondary for short time frames. |
| Price Chopper and Market 32 Supermarkets | Golub Corporation is an American supermarket operator. Headquartered in Schenectady, New York, it owns the chains Market 32 and Price Chopper Supermarkets. |
| Non-price competition | Non-price competition is a marketing strategy "in which one firm tries to distinguish its product or service from competing products on the basis of attributes like design and workmanship". It often occurs in imperfectly competitive markets because it exists between two or more producers that sell goods and services at the same prices but compete to increase their respective market shares through non-price measures such as marketing schemes and greater quality. |
| Corporatocracy | Corporatocracy (, from corporate and Greek: -κρατία, romanized: -kratía, lit. 'domination by'; short form corpocracy) is a term used to refer to an economic, political and judicial system controlled by corporations or corporate interests.The concept has been used in explanations of bank bailouts, excessive pay for CEOs, as well as complaints such as the exploitation of national treasuries, people, and natural resources. It has been used by critics of globalization, sometimes in conjunction with criticism of the World Bank or unfair lending practices, as well as criticism of free trade agreements. |
| Unit Trust Corporation | The Trinidad and Tobago Unit Trust Corporation (UTC) is a mutual fund company based in Port of Spain, Trinidad and Tobago. Founded in 1981 through an Act of Parliament, the company describes itself as "the leading mutual fund company in the Caribbean". |
| Natural gas | Natural law (Latin: ius naturale, lex naturalis) is a system of law based on a close observation of human nature, and based on values intrinsic to human nature that can be deduced and applied independently of positive law (the express enacted laws of a state or society). According to natural law theory, all people have inherent rights, conferred not by act of legislation but by "God, nature, or reason." Natural law theory can also refer to "theories of ethics, theories of politics, theories of civil law, and theories of religious morality."In the Western tradition it was anticipated by the Pre-Socratics, for example in their search for principles that governed the cosmos and human beings. |
| Liquefied natural gas | Liquefied natural gas (LNG) is natural gas (predominantly methane, CH4, with some mixture of ethane, C2H6) that has been cooled down to liquid form for ease and safety of non-pressurized storage or transport. It takes up about 1/600th the volume of natural gas in the gaseous state (at standard conditions for temperature and pressure). |
| List of countries by natural gas production | This is a list of countries by natural gas production based on statistics from The World Factbook, and OECD members natural gas production by International Energy Agency (down) \n\n\n== Countries by natural gas production ==\nThe data in the following table comes from The World Factbook. |
| Natural-gas condensate | Natural-gas condensate, also called natural gas liquids, is a low-density mixture of hydrocarbon liquids that are present as gaseous components in the raw natural gas produced from many natural gas fields. Some gas species within the raw natural gas will condense to a liquid state if the temperature is reduced to below the hydrocarbon dew point temperature at a set pressure. |
| Chemical property | A chemical property is any of a material's properties that becomes evident during, or after, a chemical reaction; that is, any quality that can be established only by changing a substance's chemical identity. Simply speaking, chemical properties cannot be determined just by viewing or touching the substance; the substance's internal structure must be affected greatly for its chemical properties to be investigated. |
| Object (philosophy) | An object is a philosophical term often used in contrast to the term subject. A subject is an observer and an object is a thing observed. |
| Bell's theorem | Bell's theorem is a term encompassing a number of closely-related results in physics, all of which determine that quantum mechanics is incompatible with local hidden-variable theories. The "local" in this case refers to the principle of locality, the idea that a particle can only be influenced by its immediate surroundings, and that interactions mediated by physical fields can only occur at speeds no greater than the speed of light. |
| Mental state | A mental state, or a mental property, is a state of mind of a person. Mental states comprise a diverse class including perception, pain experience, belief, desire, intention, emotion, and memory. |
| Emergence | An emergency is a situation that poses an immediate risk to health, life, property, or environment. Most emergencies require urgent intervention to prevent a worsening of the situation, although in some situations, mitigation may not be possible and agencies may only be able to offer palliative care for the aftermath. |
| Net bias | Net bias (or network bias) is the counter-principle to net neutrality, which indicates differentiation or discrimination of price and the quality of content or applications on the Internet by ISPs. Similar terms include data discrimination, digital redlining, and network management. |
| Partnership accounting | When two or more individuals engage in enterprise as co-owners, the organization is known as a partnership. This form of organization is popular among personal service enterprises, as well as in the legal and public accounting professions. |
| Net operating assets | Net operating assets (NOA) are a business's operating assets minus its operating liabilities. NOA is calculated by reformatting the balance sheet so that operating activities are separated from financing activities. |
| Reverse mortgage | A reverse mortgage is a mortgage loan, usually secured by a residential property, that enables the borrower to access the unencumbered value of the property. The loans are typically promoted to older homeowners and typically do not require monthly mortgage payments. |
| Unit-linked insurance plan | A unit-linked insurance plan is a product offered by insurance companies that, unlike a pure insurance policy, gives investors both insurance and investment under a single integrated plan.\n\n\n== History ==\nThe first unit-linked insurance plan was launched by Unit Trust of India. |
| Gold mining in Nevada | Gold mining in Nevada, a state of the United States, is a major industry, and one of the largest sources of gold in the world. In 2018 Nevada produced 5,581,160 troy ounces (173.6 tonnes), representing 78% of US gold and 5.0% of the world's production. |
| Bond (finance) | In finance, a bond is a type of security under which the issuer (debtor) owes the holder (creditor) a debt, and is obliged – depending on the terms – to repay the principal (i.e. amount borrowed) of the bond at the maturity date as well as interest (called the coupon) over a specified amount of time. |
| Research and development | Research and development (R&D or R+D), known in Europe as research and technological development (RTD), is the set of innovative activities undertaken by corporations or governments in developing new services or products, and improving existing ones. Research and development constitutes the first stage of development of a potential new service or the production process. |
| Professional development | Professional development is learning to earn or maintain professional credentials such as academic degrees to formal coursework, attending conferences, and informal learning opportunities situated in practice. It has been described as intensive and collaborative, ideally incorporating an evaluative stage. |
| Assumption of Mary | The Assumption of Mary is one of the four Marian dogmas of the Catholic Church. (The word 'assumption' derives from the Latin word assūmptiō meaning "taking up"). |
| Strategic assumptions | Strategic assumptions are the assumptions that are held by decision-makers when building a strategic plan. All strategic plans should be built upon a grounded, validated and accepted set of strategic assumptions. |
| Statistical assumption | Statistics, like all mathematical disciplines, does not infer valid conclusions from nothing. Inferring interesting conclusions about real statistical populations almost always requires some background assumptions. |
| Extraordinary assumptions and hypothetical conditions | In the field of real estate appraisal, extraordinary assumptions and hypothetical conditions are two closely related types of assumptions which are made as predicating conditions of an appraisal problem. Under the Uniform Standards of Professional Appraisal Practice (USPAP), they are two of the assignment conditions on which an appraisal assignment is predicated, the others being general assumptions, laws & regulations, supplemental standards, jurisdictional exceptions, and other conditions affecting scope of work. |
| Economic entity | In accounting, an economic entity is one of the assumptions made in generally accepted accounting principles. Almost any type of organization or unit in society can be an economic entity. |
| Assumption-based planning | Assumption-based planning in project management is a post-planning method that helps companies to deal with uncertainty. It is used to identify the most important assumptions in a company's business plans, to test these assumptions, and to accommodate unexpected outcomes. |
| Risk Factors |
|---|
| HUGOTON ROYALTY TRUST Item 1A Risk Factors The following factors, among others, could cause actual results to differ materially from those contained in forward-looking statements made in this report and presented elsewhere by the trustee from time to time |
| Such factors, among others, may have a material adverse effect upon the trust’s financial condition, distributable income and changes in trust corpus |
| The following discussion of risk factors should be read in conjunction with the financial statements and related notes included in the trust’s annual report to unitholders for the year ended December 31, 2005 |
| Because of these and other factors, past financial performance should not be considered an indication of future performance |
| The market price for the trust units may not reflect the value of the net profits interests held by the trust |
| The public trading price for the trust units tends to be tied to the recent and expected levels of cash distributions on the trust units |
| The amounts available for distribution by the trust vary in response to numerous factors outside the control of the trust or XTO Energy, including prevailing prices for oil and natural gas produced from the underlying properties |
| The market price of the trust units is not necessarily indicative of the value that the trust would realize if the net profits interests were sold to a third party buyer |
| In addition, such market price is not necessarily reflective of the fact that, since the assets of the trust are depleting assets, a portion of each cash distribution paid on the trust units should be considered by investors as a return of capital, with the remainder being considered as a return on investment |
| There is 2 ______________________________________________________________________ no guarantee that distributions made to a unitholder over the life of these depleting assets will equal or exceed the purchase price paid by the unitholder |
| Oil and natural gas prices fluctuate due to a number of uncontrollable factors, and any decline will adversely affect the net proceeds payable to the trust and trust distributions |
| The trust’s monthly cash distributions are highly dependent upon the prices realized from the sale of natural gas and, to a lesser extent, oil |
| Oil and natural gas prices can fluctuate widely on a month-to-month basis in response to a variety of factors that are beyond the control of the trust and XTO Energy |
| Factors that contribute to price fluctuations include instability in oil-producing regions, worldwide economic conditions, weather conditions, the supply and price of domestic and foreign oil and natural gas, consumer demand, the price and availability of alternative fuels, the proximity to, and capacity of, transportation facilities and the effect of worldwide energy conservation measures |
| Moreover, government regulations, such as regulation of natural gas transportation and price controls, can affect product prices in the long term |
| Lower oil and natural gas prices may reduce the amount of oil and natural gas that is economic to produce and will reduce net profits available to the trust |
| The volatility of energy prices reduces the predictability of future cash distributions to trust unitholders |
| Higher production expense and/or development costs, without concurrent increases in revenue, will directly decrease the net proceeds payable to the trust |
| Production expense and development costs are deducted in the calculation of the trust’s share of net proceeds |
| Accordingly, higher or lower production expense and development costs, without concurrent increases in revenue, will directly decrease or increase the amount received by the trust |
| If development costs and production expense for underlying properties in a particular state exceed the production proceeds from the properties, the trust will not receive net proceeds for those properties until future proceeds from production in that state exceed the total of the excess costs plus accrued interest during the deficit period |
| Development activities may not generate sufficient additional revenue to repay the costs |
| Proved reserve estimates depend on many assumptions that may turn out to be inaccurate |
| Any material inaccuracies in reserve estimates or underlying assumptions could cause the quantities and net present value of the reserves to be overstated |
| Estimating proved oil and gas reserves is inherently uncertain |
| Petroleum engineers consider many factors and make assumptions in estimating reserves and future net cash flows |
| Those factors and assumptions include historical production from the area compared with production rates from similar producing areas, the effects of governmental regulation, assumptions about future commodity prices, production expense and development costs, taxes and capital expenditures, the availability of enhanced recovery techniques and relationships with landowners, working interest partners, pipeline companies and others |
| Lower oil and gas prices generally cause lower estimates of proved reserves |
| Ultimately, actual production, revenues and expenditures for the underlying properties will vary from estimates and those variances could be material |
| Because the trust owns net profits interests, it does not own a specific percentage of the oil and gas reserves |
| Estimated proved reserves for the net profits interests are based on estimates of reserves for the underlying properties and an allocation method that considers estimated future net proceeds and oil and gas prices |
| Increases or decreases in oil and gas prices directly increase or decrease estimated reserves of the net profits interests |
| 3 ______________________________________________________________________ Operational risks and hazards associated with the development of the underlying properties may decrease trust distributions |
| There are operational risks and hazards associated with the production and transportation of oil and natural gas, including without limitation natural disasters, blowouts, explosions, fires, leakage of oil or natural gas, releases of other hazardous materials, mechanical failures, cratering, and pollution |
| Any of these or similar occurrences could result in the interruption or cessation of operations, personal injury or loss of life, property damage, damage to productive formations or equipment, damage to the environment or natural resources, or cleanup obligations |
| The operation of oil and gas properties is also subject to various laws and regulations |
| Non-compliance with such laws and regulations could subject the operator to additional costs, sanctions or liabilities |
| The uninsured costs resulting from any of the above or similar occurrences could be deducted as a production expense or development cost in calculating the net proceeds payable to the trust and would therefore reduce trust distributions by the amount of such uninsured costs |
| Trust unitholders and the trustee have no influence over the operations on, or future development of, the underlying properties |
| Neither the trustee nor the trust unitholders can influence or control the operation or future development of the underlying properties |
| The failure of an operator to conduct its operations or discharge its obligations in a proper manner could have an adverse effect on the net proceeds payable to the trust |
| Although XTO Energy and other operators of the underlying properties must adhere to the standard of a prudent operator, they are under no obligation to continue operating the properties |
| Neither the trustee nor trust unitholders have the right to replace an operator |
| The assets of the trust represent interests in depleting assets and, if XTO Energy and any other operators developing the underlying properties do not perform additional development projects, the assets may deplete faster than expected |
| Eventually, the assets of the trust will cease to produce in commercial quantities and the trust will cease to receive proceeds from such assets |
| The net proceeds payable to the trust are derived from the sale of depleting assets |
| Eventually, the properties underlying the trust’s net profits interests will cease to produce in commercial quantities and the trust will, therefore, cease to receive any net proceeds therefrom |
| The reduction in proved reserve quantities is a common measure of the depletion |
| Future maintenance and development projects on the underlying properties will affect the quantity of proved reserves |
| The timing and size of these projects will depend on the market prices of oil and natural gas |
| If XTO Energy or other operators of the properties do not implement additional maintenance and development projects, the future rate of production decline of proved reserves may be higher than the rate currently estimated |
| Terrorism and continued geopolitical hostilities could adversely affect trust distributions or the market price of the trust units |
| Terrorist attacks and the threat of terrorist attacks, whether domestic or foreign, as well as the military or other actions taken in response, cause instability in the global financial and energy markets |
| Terrorism and other geopolitical hostilities could adversely affect trust distributions or the market price of the trust units in unpredictable ways, including through the disruption of fuel supplies and markets, increased volatility in oil and natural gas prices, or the possibility that the infrastructure on which the operators of the underlying properties rely could be a direct target or an indirect casualty of an act of terror |
| XTO Energy may transfer its interest in the underlying properties without the consent of the trust or the trust unitholders |
| XTO Energy may at any time transfer all or part of its interest in the underlying properties to another party |
| Neither the trust nor the trust unitholders are entitled to vote on any transfer of the properties 4 ______________________________________________________________________ underlying the trust’s net profits interests, and the trust will not receive any proceeds of any such transfer |
| Following any transfer, the transferred property will continue to be subject to the net profits interests of the trust, but the calculation, reporting and remitting of net proceeds to the trust will be the responsibility of the transferee |
| In January 2006, XTO Energy announced that it will consider selling the underlying properties |
| Any sale is dependent upon XTO Energy’s ability to structure a tax-efficient transaction and receive sufficient consideration from a buyer it deems to be qualified |
| If XTO Energy sells the underlying |