Summary
Williams Companies, Inc. (WMB) reported through its subsidiary, Williams Production RMT Company (formerly Barrett Resources Corporation, "WPRMTC"), the execution of a significant $900 million Credit Agreement on July 31, 2002. This filing primarily discloses operational and financial data provided by WPRMTC to lenders, offering insights into its reserve base and production estimates. Investors should note the substantial estimated proved reserves and projected production volumes, which form the basis for the company's valuation and future revenue potential. The disclosed financial information for WPRMTC as of June 30, 2002, provides a snapshot of its balance sheet, indicating significant assets and liabilities. The present value of its reserves, as of July 1, 2002, also offers a key metric for understanding the intrinsic value of its resource holdings, albeit excluding probable reserves. This disclosure, framed within Regulation FD, aims to provide timely and material information to investors.
Key Highlights
- 1Williams Production RMT Company (WPRMTC) secured a $900 million Credit Agreement as of July 31, 2002.
- 2WPRMTC reported estimated proved reserves of 1.9 trillion cubic feet equivalent as of July 1, 2002.
- 3Projected 2003 production for WPRMTC is estimated at 169.5 billion cubic feet equivalent.
- 4The present value of WPRMTC's reserves (excluding probable reserves), discounted at 10%, was estimated at $2,215,000,000 as of July 1, 2002, using forward market prices.
- 5As of June 30, 2002, WPRMTC's unaudited financial information shows total assets of $3,822,566,000, total liabilities of $1,158,248,000, and total stockholder's equity of $2,664,318,000.