10 unchanged sentences
attributable to such working interests (nor the present value of future net cash flows from such reserves), and Marine is not entitled to receive such data from the owners of the working interests from which its interests are derived.
−Removed: Tidelands does not have access to the engineering data necessary to make an estimate of the proved oil and natural gas reserves attributable to such working interests.
−Removed: See also Difficulty in Obtaining Certain Data.
−Removed: Marine does not have access to this reserve information, Marine is unable to compute the standardized measure of discounted future net cash flows attributable to such working interests.
+Added: Difficulty in Obtaining Certain Data.
+Added: Since Marine does not have access to this reserve information, Marine is unable to compute the standardized measure of discounted future net cash flows attributable to such working
Marine did not file any reports during the fiscal year ended June 30, 2021 with any U.S.
−Removed: Federal authority or agency with respect to oil
−Removed: and natural gas reserves.
+Added: Federal authority or agency with
+Added: respect to oil and natural gas reserves.
Due to the nature of Marines business, it does not have any delivery commitments.
Information regarding the net quantities of oil and natural gas sold with
−Removed: respect to Marines overriding royalty interests (excluding its interest in Tidelands) for each of the last three fiscal years, as well as the average sales price per unit of oil and natural gas sold upon which payments to Marine are based, is
−Removed: set forth in the following table:
+Added: respect to Marines overriding royalty interests for each of the last three fiscal years, as well as the average sales price per unit of oil and natural gas sold upon which payments to Marine are based, is set forth in the following table:
Fiscal Year Ended June 30,
12 unchanged sentences
Enforcement, a division of the U.S.
−Removed: government, there were approximately 201 gross active wells subject to Marines interests (excluding its interest in Tidelands).
−Removed: Marine believes that the term active wells is synonymous with the
−Removed: term productive wells as defined in Item 1205 of Regulation S-K.
−Removed: While Marine believes that most of the active wells produce both oil and natural gas, Marine is unable to determine the actual
−Removed: number of wells classified as either oil or natural gas wells without unreasonable effort and expense.
+Added: government, there were approximately 201 gross active wells subject to Marines interests.
+Added: Marine believes that the term active wells is synonymous with the term productive wells as
+Added: defined in Item 1205 of Regulation S-K.
+Added: While Marine believes that most of the active wells produce both oil and natural gas, Marine is unable to determine the actual number of wells classified as either oil
+Added: or natural gas wells without unreasonable effort and expense.
See Difficulty in Obtaining Certain Data.
−Removed: Drilling Activity .
−Removed: During each of the fiscal years 2020, 2019 and 2018, there were no wells drilled or recompleted in which Marine has
−Removed: an interest (excluding its interest in Tidelands).
−Removed: Information regarding net wells or acres is not included since Marine does not own any
−Removed: working interests.
+Added: During each of the fiscal years 2021, 2020 and 2019, there were no wells drilled or recompleted in which Marine has an interest.
+Added: Information regarding net wells or acres is not included since Marine does not own any working interests.
Lease Acreage .
−Removed: As of June 30, 2020, Marine had an overriding royalty interest (including its interest in
−Removed: Tidelands) in 59 different oil and natural gas leases covering an aggregate of 217,056 gross acres.
+Added: As of June 30, 2021, Marine had an overriding royalty interest in 55 different oil and natural gas leases covering
+Added: an aggregate of 199,868 gross acres.
These leases are located in the Central and Western areas of the Gulf of Mexico off the coasts of Louisiana and Texas.
−Removed: This acreage is presented in
−Removed: the following table:
+Added: This acreage is presented in the following table:
Leases Granted
12 unchanged sentences
The fractional interest therefore varies from lease to lease.
−Removed: The acreage weighted average of the fractional interest in all leases, including Marines interest in the leases held by Tidelands, is 0.5776%.
−Removed: The following table presents the acreage breakdown by fractional interests of Marine and Tidelands:
+Added: The acreage weighted average of the fractional interest in all leases is 0.5324%.
+Added: The following table presents the acreage breakdown by fractional
+Added: interests of Marine:
Present Activities .
22 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.