What We Want Usually some PDP Development project risk
{"Image DocumentName": "What We Want Usually some PDP Development project risk", "Image ImageDescription": "Initial collateral value comparable to first advance. Exceptions for some projects like coal seam gas. Development project risk. Significant PUD drilling opportunity; not exploration. Also mid-stream gas assets. Total return: more than bank debt, less than equity. Coupon usually 9% to 11% Royalty in adequate size to reach target return, based on risk. Some owner / sponsor investment. Needs to be significant to the individuals, not to the project. Lien on the assets. Typically first lien; will accept second lien in larger deals.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}