This quarters strong operating performance, together with increases in oil and NGL prices during the latter part of the year, resulted in Adjusted EBITDAX
The Company has referred to a "debt to trailing twelve month EBITDAX
ratio" in this release to measure relative leverage of the Company.
as further adjusted to reflect the items set forth in the table below, all of which will be required in determining our compliance with financial covenants under the credit agreements representing our senior credit facility and our second lien credit facility.
from continuing operations for the three months ended 30 September 2012 was recorded as USD22.
Credit metrics continued to improve as of March 31, 2012 as Newfield generated latest 12 months (LTM) EBITDAX
Stand-alone E&P Adjusted EBITDAX
is expected to be $1,700-$1,800 million with consolidated Adjusted EBITDAX
of $2,050-$2,150 million in 2018.
in the second quarter of 2016 includes the settlement of approximately $37 million of oil and natural gas derivative contracts prior to contract expiry.
The company posted consolidated EBITDAX
at USD77m in the second quarter of 2011, an increase of 79 percent over the year-ago period.
Fourth quarter Stand-alone E&P Adjusted EBITDAX
expected to be in the range of $370-$385 million with consolidated Adjusted EBITDAX
of $430-$445 million, above the midpoint of previous fourth quarter guidance.
Both EBITDA and EBITDAX
were significantly impacted by a 21 percent decrease in the company's crude oil realizations and a 44 percent decrease in North American natural gas realizations, compared to the second quarter of 2015.
The firm reported consolidated EBITDAX
at USD77m in the second quarter of 2011, an increase of 79 percent compared to the same period in 2010.
All covenants under the agreement remain substantially the same except that the net debt to EBITDAX
limitation has been raised from three times EBITDAX
to five times EBITDAX
through the end of 2016, and then reverts back to three times effective for the quarter ending March 31, 2017.