CVR Energy Inc. (CVI) 2010年年度报告「NYSE」.pdf

1、2 0 1 0 A N N U A L R E P O R TMOMENTUMAN INTERNATIONAL ENERGY PRODUCER ON THE RISE04 Selected Highlights06 Chairman and Chief Executive Officers Letter 08 Exploration and Operations Review 17 Operations Statistical Review18 Managements Discussion and Analysis 40 Managements Report41 Independent Aud

2、itors Report42 Consolidated Financial Statements45 Notes to the Consolidated Financial StatementsIBC Corporate InformationCalvalley Petroleum Inc.(“the Company”)has established a strong record of reserves growth from its initial Exploration and Production Project,at Block 9 in the Masila Basin of th

3、e Republic of Yemen.The Project is based on a Production Sharing Agreement(“PSA”)which was signed with the Government of Yemen.Since initiating commercial production in 2006,the Company has had consistently positive cash flows without the requirement for any debt financing which has provided a growt

4、h momentum that continues to carry Calvalley forward as a corporation.Calvalleys ongoing Block 9 exploration success has led to the successive development of the Hiswah,Al Roidhat,Auqban and,most recently,Ras Nowmah Fields.During 2010,the Company completed appraisal activities at Ras Nowmah which le

5、d to the acquisition of 340 kilometers of 2D seismic data.Interpretation of that data has produced two additional prospects for the Companys rich exploration asset inventory.The development of these fields has enabled the Company to continue investing in future growth activities.Since 2006,Calvalley

6、 has exported its production via truck transport through the Safer Petroleum export transit facility at Block 18,to the Red Sea port of Ras Isa.However,completion of the Companys new Bock 51 Truck Offloading Facility(“TOF”)will allow Calvalley to access the higher value export market afforded by the