Completion

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Completion

In the context of project financing, occurs after a Completion Test, when the project's cash flows become the primary method of repayment. Prior to completion, the primary source of repayment is usually from the sponsors or from the turnkey contractor.

Completion

In project finance, the time at which a project has been finished, functions, and is generating enough revenue such that its cash flows become the primary way the project is repaying debt. Completion applies especially to construction and other infrastructure projects. For example, an oil company may build a series of oil pumps and finance the construction though bonds. Completion occurs when the oil pumps are completed and are working, and the cash flows generated by the oil are repaying the bonds. See also: Sales Completion, Physical Completion.
References in periodicals archive ?
The completion bond is given only after the company clears the script, budget, shooting schedule, insurance policies, locations and cast, usually following meetings with its producer, director, production accountant and distributor.
Development drilling in the United States, meanwhile, rose nearly 22 percent in 1993, with operators tallying 16,710 infill completions through year-end compared to 14,088 at the end of 1992.
5 percent during the first six months, with 6,655 field completions reported compared to 5,914 a year ago.
The current schedule calls for pipeline and plant installation and completion of the first three horizontal wells in time to commence gas sales on or before July 1, 2006.
Domestic development drilling operations were also sluggish in 1992, with infill completions sagging by 22.
7 percent during the first three quarters, with PI counting 1,166 exploratory completions in or near existing fields compared to 1,434 a year earlier.
9 percent through the second quarter, to 838 completions from 973 a year earlier, while in Kansas, the number of wells drilled decreased 12.
Landmark's large aircraft completion center, has been branded "Associated Air Center - A Landmark Company" under the brand architecture while the other businesses are Landmark Aviation.
Field delineation work, which traditionally accounts for better than three-quarters of the nation's drilling, declined by more than 19 percent in the first quarter, with PI reporting 2,205 domestic development well completions compared to 2,724 a year earlier.
THE WOODLANDS, Texas -- Intelligent completion specialist WellDynamics and BP have signed a multi-well contract for the provision of SmartWell(R) downhole flow control and ancillary completion equipment to manage water injection in BP's deep water, Greater Plutonio development, in Angola, West Africa.
Upon completion of the acquisitions announced today, USR will have increased its working interest in the Puckett field to 38 per cent.
The PCS template replaces the time-consuming and error-prone traditional method of managing project completions.