14YE 3 Panel r2.indd - Energy Spectrum Advisors Inc.

14YE 3 Panel r2.indd - Energy Spectrum Advisors Inc.

Majority Gas: Net Production Rate Multiple ($ / MCFEPD) vs. Proved R/P
All Property Sales ($10MM - $2,000MM) Announced in the Last 12 Months
Red Indicates Last Quarter. Point Size is Proportionate to Total Price.
20,000
$3.25
15,000
10,000
5,000
y = 216 x + 3,932
$18.00
Majority Oil
$2.75
$19.50
Majority Gas
$3.00
$15.00
$2.25
$12.00
$1.75
$9.00
$1.25
ec
5
10
15
20
25
Total Proved Reserves / Current Net Daily Production Annualized (Years)
30
$21.00
$16.50
$2.50
$13.50
$2.00
$10.50
$1.50
$7.50
$1.00
D
0
0
-1
M
ar
1
35
-1
2
S
Jun ep-1
2
-
D
ec
12
-1
M
ar
2
-1
Jun
-1
3
3
Se
p-
D
ec
13
-1
M
ar
3
-1
4
Jun
-1
4
Se
p-
D
ec
14
Median $ / BOE
$ per Net MCFEPD
Median $ / MCFE
-1
4
Trailing Twelve Months Through
Majority Oil: Net Production Rate Multiple ($ / BOEPD) vs. Proved R/P
All Property Sales ($10MM - $2,000MM) Announced in the Last 12 Months
Red Indicates Last Quarter. Point Size is Proportionate to Total Price.
300,000
250,000
$ / Net BOEPD
200,000
150,000
100,000
50,000
y = 2,122x + 60,591
$100,000
$13,000
$ 110,000
$14,500
$120,000
$16,000
$70,000
$8,500
$80,000
$10,000
$90,000
$11,500
$40,000
$4,000
$50,000
Majority Oil
$5,500
$60,000
Majority Gas
$7,000
D
ec
0
0
5
10
15
20
25
Total Proved Reserves / Current Net Daily Production Annualized (Years)
30
M
-
ar
11
35
-
12
Jun
-1
2
Se
D
ec
p-
12
M
-1
ar
2
Jun
-1
-1
3
3
Se
D
p-
ec
13
M
-1
ar
3
-1
4
Jun
-1
4
Se
D
p-
ec
14
Median $ / BOEPD
Median $ / MCFEPD
-1
4
Trailing Twelve Months Through
Proved R/P as Estimate of Asset Sale Price
Why does one property sell for $40,000 per net BOEPD and another for $140,000 per net BOEPD? Using statistical analysis, E-Spectrum Advisors has identified a positive correlation
between Proved R/P and dollar paid per daily unit of net production.
R is defined as Total Net Proved Reserves. P is defined as Current Net Daily Production Annualized. As indicated in the data table, most reserve information is taken from buyers’ press releases.
For example, using the oil chart and formula above, one can see that a majority-oil transaction with an R/P of 15 years could sell on average $92,421 per net BOEPD.
Securities offered through E-Spectrum Advisors LLC,
a member of FINRA and SIPC.
Sale of Operated
Cleveland Properties
Sale of
OFS Company
Sale of Multi-Basin
Royalty and Overriding
Royalty Interests
Sale of Permian Basin
and North Texas
Oil Properties
July 2014
July 2014
May 2014
January 2014
www.energyspectrumadvisors.com
5956 Sherry Lane, Suite 900
Dallas, TX 75225
Phone (214) 987-6100
7500 San Felipe, Suite 600
Houston, TX 77063
Phone (713) 706-6382
Patrick George
(214) 987-6129
Coy Gallatin
(713) 870-0426
Central Oklahoma
Reclamation
Stephanie Sullivan
(214) 987-6143
Damian Wells, P.E.
(214) 987-6127
Will Hundley
(214) 987-6153
Sale of Barnett Shale
Mineral and Royalty
Interests
(Tarrant and Johnson
Counties, TX)
Sale of
North Texas Oil
Properties
Sale of
Mid-Continent
Gas Properties and
Processing Plant
Sale of
Eagle Ford
Royalty Interests
September 2014
July 2014
July 2014
July 2014
Extensive technical and financial expertise, complimented by
unmatchable industry relationships and personalized service, allows us
to repeatedly help our clients realize their transaction goals.
Focused on asset and corporate divestitures in the
upstream energy sector.
Sale of
Appalachia Properties
and Midstream Assets
Sale of
Non-Op Bakken Shale /
Three Forks Properties
Sale of Multi-Basin
Royalty, Overriding Royalty
and Non-Operated
Working Interests
Sale of
Anadarko Basin Properties
(Blaine and Kingfisher
Counties, OK)
Pending
December 2014
October 2014
October 2014
Sullivan
Osage, LLC
Pizzitola
Resources, Inc.
Las Colinas
Energy Partners, LLC
Beasley Oil
Select Current and Recent Transactions
YEAR END
2014
Trailing Twelve Months through December 2014
MAJORITY GAS
An
no D
un ate
ce
d
12/22/14
12/19/14
12/2/14
11/17/14
11/4/14
10/31/14
10/6/14
10/3/14
9/24/14
9/22/14
9/18/14
9/15/14
8/26/14
8/18/14
8/14/14
8/11/14
7/30/14
7/29/14
7/29/14
7/18/14
7/7/14
7/7/14
7/7/14
7/7/14
6/30/14
6/27/14
6/9/14
5/30/14
5/7/14
5/5/14
5/5/14
5/2/14
5/2/14
4/30/14
4/29/14
4/1/14
3/31/14
3/7/14
3/4/14
2/26/14
2/14/14
2/13/14
1/31/14
1/30/14
Bu
ye
r
Se
lle
r
To
tal
($ Pric
MM e*
)
Southwestern Energy Co.
Questar Corp.
Southwestern Energy Co.
Camterra Resources
Samson Resources
Undisclosed
Harbinger Group Inc.
EnerVest; FourPoint Energy LLC
Bravo Natural Resources LLC
W&T Offshore
EOS Petro Inc.
Vanguard Natural Resources LLC
G2X Energy Inc.1
E&B Natural Resources
Vine Oil & Gas LP; Blackstone Group
Rex Energy Corp.
Vanguard Natural Resources LLC
Templar Energy LLC
Mountaineer Keystone Energy LLC
Linn Energy LLC
Pantera Acquisition Group
Rice Energy Inc.1
Undisclosed
Warren Resources, Inc.
Undisclosed
Talos Energy LLC
American Energy Partners LP
KKR
Antero Resources Corp.1
Sabine Oil & Gas LLC
Saka Energi Indonesia
Cimarex, Devon, EVEP, FourPoint
Legacy Reserves L.P.
Indigo Minerals LLC
Hawkwood Energy; Covey Park Energy
Undisclosed1
Jonah Energy LLC
Rooster Energy LLC
Memorial Production Partners LP
Gulfport Energy Corp.1
Atlas Resource Partners LP
Merit Energy
New Source Energy Partners LP
FourPoint Energy LLC
Statoil
Undisclosed
WPX Energy Inc.
Forest Oil Corp.
Goodrich Petroleum Corp.
QEP Resources, Inc.
Exco Resources, Inc.
Linn Energy LLC
Canaan Natural Gas PE Funds
Undisclosed
Dune Energy Inc.
Bill Barrett Corp.
WPX Energy Inc.
WPX Energy Inc.
Shell Oil Co.
Shell Oil Co.
Hunt Oil
Newfield Exploration
PDC Energy; Lime Rock Partners
Pioneer Natural Resources Co.
BP America Production Co.
Chesapeake Energy Corp.; Statoil
Petsec Energy
Citrus Energy; TLK Energy; Troy Energy Invest.
Cimarex Energy Co.
Stone Energy Corp.
East Resources Inc.; Undisclosed
Penn Virginia Corp.
Muskingum Watershed Conservancy District
Forest Oil Corp.
Swift Energy Co.
QEP Resources, Inc.
WPX Energy Inc.
EP Energy LLC
EnCana Oil & Gas (USA) Inc.
Red Fork Energy Ltd.
EnCana Oil & Gas (USA) Inc.
Cochon Properties LLC
Memorial Resource Development LLC
Rhino Resource Partners LP
Geomet Inc.
Occidental Petroleum Corp.
CEU Paradigm LLC
EnerVest Management Partners Ltd.
Per MCFE
Median
Simple Average
MA JORITY OIL
An
no D
un at
ce e
d
12/5/14
11/20/14
11/18/14
10/29/14
10/28/14
10/24/14
10/20/14
10/17/14
10/9/14
10/7/14
10/6/14
10/3/14
9/24/14
9/24/14
9/16/14
9/15/14
8/29/14
8/29/14
8/19/14
8/18/14
8/13/14
8/12/14
8/12/14
8/8/14
8/4/14
8/4/14
8/1/14
8/1/14
7/29/14
7/29/14
7/24/14
7/22/14
7/18/14
7/17/14
6/25/14
6/24/14
6/24/14
6/16/14
5/27/14
5/23/14
5/23/14
5/21/14
5/21/14
5/20/14
5/15/14
5/15/14
5/6/14
5/6/14
5/5/14
5/1/14
4/30/14
4/29/14
4/18/14
4/10/14
4/10/14
4/8/14
4/7/14
3/26/14
3/25/14
2/28/14
2/25/14
2/24/14
2/14/14
1/31/14
1/30/14
1/24/14
1/21/14
1/7/14
1/2/14
ALL U.S. FROM $10 MILLION TO $2 BILLION
Bu
ye
r
394
53
300
185
61
108
205
1,950
250
18
128
561
210
155
1,200
120
278
588
500
340
390
336
17
353
138
200
1,750
73
95
1,131
175
772
355
150
530
11
1,800
30
35
185
107
1,400
19
268
Re
se
($ Pric rve
MM e
)
394
53
300
185
61
108
205
1,950
170
18
128
561
40
155
1,200
18
135
588
303
340
390
117
17
353
138
200
1,170
73
95
925
158
772
355
150
431
11
1,800
30
35
185
107
1,054
19
268
Re Pro
(B serv ved
CF es
E)
($ Va
/M lu
CF e*
E)
NA
NA
NA
159
NA
NA
125
755
286
27
80
389
73
222
NA
21
150
228
485
340
302
NA
NA
208
50
77
NA
85
NA
595
189
463
276
84
200
NA
1,493
14
15
NA
70
408
NA
NA
NA
NA
NA
1.16
NA
NA
1.63
2.58
0.60
0.67
1.59
1.44
0.55
0.70
NA
0.83
0.90
2.58
0.62
1.00
1.29
NA
NA
1.69
2.76
2.59
NA
0.85
NA
1.55
0.84
1.67
1.29
1.79
2.16
NA
1.21
2.20
2.27
NA
1.53
2.58
NA
NA
($
/M V
CF alu
EP e*
D)
29.0
11.8
50.0
22.0
11.0
8.3
24.9
195.0
33.0
13.9
11.8
67.0
NA
154.0
258.0
3.0
17.5
65.0
51.9
40.0
27.6
20.0
7.6
82.0
15.0
57.0
175.0
11.9
NA
105.1
8.5
109.0
63.0
21.0
107.2
NA
351.2
5.6
4.3
6.0
22.0
110.0
2.9
35.0
13,587
4,457
6,000
8,413
5,546
13,015
8,215
10,000
5,157
1,311
10,810
8,373
NA
1,006
4,651
5,833
7,741
9,046
5,833
8,500
14,130
5,834
2,242
4,299
9,200
3,509
6,686
6,113
NA
8,796
18,690
7,087
5,635
7,143
4,021
NA
5,125
5,348
8,136
30,833
4,863
9,583
6,395
7,658
$1.49
$1.51
ALL U.S. FROM $10 MILLION TO $2 BILLION
Se
lle
r
(M Pro
MC du N
FE ctio et
PD n
)
To
tal
($ Pric
MM e*
)
ReOil Eagle I LLC
Undisclosed
Gulf Pine Energy Partners LP
Synergy Resources Corp.
American Energy Partners LP1
Carrizo Oil & Gas Inc.
Dome Energy AB
Oak Valley Energy; Earthstone Energy Inc.
SM Energy Co.
Mid-Con Energy Partners LP
Natural Resource Partners LP
Fleur de Lis Energy LLC
Atlas Resource Partners LP
Cabot Oil & Gas Corp.
Various
Eagle Energy Exploration LLC
Callon Petroleum Co.
LRR Energy
Parsley Energy LP
Oxy
Undisclosed
Athlon Energy Inc.
Undisclosed
Undisclosed
Fuse Energy LLC
Mid-Con Energy Partners LP
Vitesse Energy LLC
Emerald Oil Inc.
SM Energy Co.
Undisclosed
Mid-Con Energy Partners LP
RSP Permian Inc1
Diamondback Energy1
Lime Rock Resources
PetroQuest Energy, Inc.1
Dome Energy AB
Dome Energy AB
Energy & Exploration Partners Inc.
U.S. Energy Corp.1
Undisclosed
Sundance Energy1
Sanchez Energy Corp.
Bonanza Creek Energy Inc.1
W&T Offshore Inc.
Panhandle Oil & Gas Inc.
Earthstone Energy Inc.
Atlas Resource Partners LP
Triangle Petroleum
Memorial Production Partners LP
Parsley Energy LP
EP Energy Corp.
SM Energy Co.1
Vitesse Oil LLC
Parsley Energy LP1
Undisclosed
Athlon Energy Inc.
SK Innovation
Legacy Reserves LP
Memorial Production Partners LP
Mid-Con Energy Partners LP
New Gulf Resources
Lonestar Resources Inc.
Diamondback Energy
Lime Rock Resources
Liberty Resources II LLC
Athlon Energy LP
Pacific Energy Development Corp.
Fieldwood Energy LLC
EPL Oil & Gas Inc.
Alta Mesa Holdings LP
Apache Corp.
Dixie Energy Trust
Undisclosed
Tall City Exploration LLC; Undisclosed
Eagle Ford Minerals LLC
GAS Ventures LLC
Flatonia Energy LLC
Magnum Hunter Resources Corp.
LCS Production Co; AG Hill Oil and Gas LP
Kaiser-Francis Oil Company
Linn Energy LLC
Undisclosed
EF Energy LLC
Bill Barrett Corp.
Fairway Resources Partners II LLC
Undisclosed
Juno Energy II LLC
Cimarex Energy Co.; Undisclosed
Venoco, Inc.
Eagle Energy Trust
Undisclosed
Texas American Resources Co.
Enhanced Oil Resources Inc
Pioneer Natural Resources Co.
Undisclosed
EnerVest Management Partners Ltd.
Liberty Resources II LLC
Baytex Energy Corp.
Sundance Energy
Mid-Con Energy III LLC
Various
Various
MDU Resources
Midstates Petroleum Company
VistaTex Energy LLC
Range Ventures LLC
Treadstone Energy Partners LLC
Undisclosed
Sundance Energy
Undisclosed
Shell Oil Co.
DJ Resources LLC
Woodside Energy (USA)
Undislosed
Oak Valley Energy Resources LLC
Merit Energy Co.
Marathon; QEP Resources, Inc.
Merit Energy Co.
Pacer Energy Ltd.
BHP Billiton
TS Dudley; Chesapeake; Baseline Minerals Inc.
Undisclosed
OGX Resources LLC
Neon Energy Ltd.
Hibernia Resources; Piedra Energy II; Undisclosed
Plymouth Exploration LLC; Kayne Anderson
Celero Energy; SM Energy Co.
Alta Mesa Holdings LP
Mid-Con Energy III LLC
Halcón Resources Corp.
Clayton Williams Energy, Inc.
Henry Resources LLC; Various
Oasis Petroleum Inc.
Sequel Energy
Mid-Energy Partners
Continental Resources Inc.
SandRidge Energy, Inc.
CNOOC
Per BOE
Median
Simple Average
210
1,400
48
125
726
250
24
66
85
120
340
350
225
210
112
195
213
38
252
200
140
382
135
10
155
19
187
109
330
15
57
259
538
200
24
35
27
715
12
116
43
639
226
51
80
71
420
120
935
165
153
100
64
133
27
873
367
112
173
41
450
71
288
333
455
88
30
750
70
Re
se
($ Pric rve
MM e
)
210
1,400
NA
125
66
250
24
66
85
120
340
350
225
152
112
195
117
38
150
200
72
236
135
10
155
19
146
37
330
15
57
92
167
200
24
35
27
715
12
80
16
445
69
40
75
71
420
110
935
129
93
100
64
133
27
409
367
112
173
41
398
63
200
333
393
60
21
750
70
(M Res Prov
M erv ed
BO e
E) s
($ Val
/B ue
O *
E)
7
NA
3
NA
49
17
NA
NA
NA
6
8
19
12
NA
4
19
4
3
3
7
NA
11
13
1
NA
1
19
2
30
1
3
22
5
NA
NA
NA
NA
33
<1
5
NA
60
NA
2
9
11
47
4
83
8
NA
NA
NA
NA
2
31
NA
9
7
2
16
7
7
9
31
3
NA
57
3
$17.04
$18.62
%
APP (Marcellus)
RM
APP (Marcellus)
Ark-La-Tex
MC (CVS)
MC (Woodford)
Multiple
MC (Panhandle)
MC (Woodford)
GOM
GC Onshore
RM
RM
CBM
Haynesville
APP (Marcellus)
Haynesville
MC (Panhandle)
APP (Marcellus)
MC (Kansas)
MC (Panhandle)
APP (Marcellus)
GC Onshore / GOM
APP (Marcellus)
MC (Kansas)
GOM
Multiple
GC Onshore
Utica
GC Onshore
STX (Eagle Ford)
Multiple
RM
GC Onshore
GC Onshore
MC (Woodford)
RM
GOM
GC Onshore
APP (Utica)
CBM
MC (Kansas)
MC
MC (Anadarko)
Pr
ov
ed
Ga
R/
s
P
55%
100%
100%
100%
75%
>50%
86%
50%
100%
74%
58%
77%
100%
100%
96%
100%
71%
60%
99%
60%
57%
100%
96%
100%
72%
58%
93%
100%
>50%
78%
100%
63%
83%
85%
97%
>50%
92%
72%
54%
>50%
100%
70%
NA
NA
($
3.6
47.1
0.1
1.2
1.4
2.7
0.2
1.1
0.7
1.2
3.1
4.6
1.9
1.6
1.5
4.0
1.5
0.3
1.8
1.5
1.0
3.0
2.1
0.2
11.1
0.2
1.6
0.4
3.2
0.1
0.4
1.1
2.2
2.0
NA
0.8
0.2
8.4
0.1
0.6
0.2
20.0
0.7
1.7
0.7
2.1
2.9
1.2
5.9
0.9
1.0
NA
0.6
NA
0.3
4.8
3.3
0.9
1.7
0.3
3.8
0.7
2.2
2.7
4.0
0.8
0.4
25.0
0.9
/B
V
O alu
EP e*
D)
59,138
29,724
NA
100,806
47,143
93,633
120,000
61,270
117,736
100,251
109,677
76,087
118,421
94,800
75,659
48,750
80,000
138,182
83,500
137,174
75,213
78,550
64,286
47,619
13,956
125,974
92,852
93,500
103,275
116,935
137,805
83,101
76,811
100,000
NA
46,667
135,000
84,813
234,615
128,215
79,500
22,250
98,757
24,099
101,905
33,161
144,828
93,617
158,475
149,245
93,150
NA
108,383
NA
103,654
85,250
113,046
125,843
104,848
117,479
104,726
95,301
92,733
123,746
98,325
80,000
52,500
30,000
78,222
Re
gio
n
STX (Eagle Ford)
Multiple
GC Onshore
Niobrara
PER
STX (Eagle Ford)
RM
STX (Eagle Ford)
Bakken
PER
Bakken
PER
STX (Eagle Ford)
STX (Eagle Ford)
RM
MC (Mississippian)
PER
MC
PER
West Coast
PER
PER
STX (Eagle Ford)
PER
Barnett
GC Onshore
Bakken
Bakken
Bakken
Bakken
MC
PER
PER
Bakken
GC Onshore
Multiple
RM
Multiple
Bakken
RM
STX (Eagle Ford)
STX (Eagle Ford)
RM
GOM
STX (Eagle Ford)
STX (Eagle Ford)
RM
Bakken
RM
PER
PER
RM
Bakken
PER
West Coast
PER
MC (Mississippian)
Multiple
STX (Eagle Ford)
MC
ETX (Woodbine)
STX (Eagle Ford)
PER
Bakken
Bakken
PER
Niobrara
GOM
GOM
%
O
il
Pr
ov
ed
R/
P
92%
>50%
55%
>50%
>50%
82%
>50%
>50%
>50%
89%
90%
86%
86%
>50%
73%
53%
67%
95%
90%
100%
>50%
67%
83%
>50%
>50%
100%
87%
90%
82%
>50%
90%
74%
65%
>50%
NA
NA
100%
82%
100%
54%
NA
57%
85%
87%
89%
65%
100%
100%
100%
74%
75%
NA
89%
NA
100%
67%
NA
95%
92%
100%
93%
93%
69%
89%
88%
60%
>50%
51%
91%
$94,800
$92,978
*Total Price may include and Value may exclude consideration for non-E&P assets, such as gathering & processing assets and working capital. **12-month NYMEX Strip as of the transaction announcement date.
Considered to be an acreage transaction and / or is not included in the R/P correlation.
(1)
NA
NA
NA
19.8
NA
NA
13.8
10.6
23.7
5.4
18.6
15.9
NA
3.9
NA
19.2
23.4
9.6
25.6
23.3
30.0
NA
NA
7.0
9.1
3.7
NA
19.6
NA
15.5
61.1
11.6
12.0
11.0
5.1
NA
11.6
6.7
9.8
NA
8.7
10.2
NA
NA
O
il*
*
57.61
58.71
67.90
75.96
77.48
80.26
87.39
86.60
90.72
89.99
90.85
90.89
92.79
92.60
92.90
95.46
96.43
97.01
97.01
98.21
99.90
99.90
99.90
99.90
101.10
101.32
99.25
97.83
95.95
95.01
95.01
95.38
95.38
95.47
96.79
95.19
96.72
97.64
97.94
97.30
96.57
96.42
92.74
93.69
Ga
s*
*
3.20
3.41
3.69
3.99
3.95
3.78
3.86
3.95
3.94
3.90
3.94
3.96
3.99
3.88
3.96
4.00
3.84
3.86
3.86
3.98
4.19
4.19
4.19
4.19
4.35
4.32
4.54
4.44
4.74
4.67
4.67
4.66
4.66
4.77
4.78
4.37
4.46
4.65
4.66
4.58
4.67
4.72
4.52
4.44
$6,395
$6,868
P
(M rod
BO uc Ne
EP tion t
D)
28.77
NA
NA
NA
1.35
14.97
NA
NA
NA
19.67
41.46
18.42
18.75
NA
26.64
10.42
29.30
15.20
50.10
27.39
NA
21.42
10.68
11.74
NA
29.48
7.77
18.70
11.17
11.15
21.55
4.18
32.09
NA
NA
NA
NA
21.80
32.88
17.04
NA
7.42
NA
21.05
7.93
6.19
8.94
24.72
11.24
15.86
NA
NA
NA
NA
13.68
13.20
NA
12.44
23.38
25.63
24.41
8.60
28.81
38.72
12.81
20.69
NA
13.11
27.08
Re
gio
n
5.6
NA
89.9
NA
NA
17.1
NA
NA
NA
14.0
7.2
11.3
17.3
NA
7.8
12.8
7.5
24.9
4.6
13.7
NA
10.0
16.5
11.1
NA
11.7
32.7
13.7
25.3
28.7
17.5
54.5
6.6
NA
NA
NA
NA
10.7
19.5
20.6
NA
8.2
NA
3.1
35.2
14.7
44.4
10.4
38.6
25.8
NA
NA
NA
NA
20.7
17.7
NA
27.7
12.3
12.6
11.7
30.4
8.8
8.7
21.0
10.6
NA
6.3
7.9
O
il*
*
66.79
75.79
75.06
81.47
80.73
80.47
80.42
80.80
84.21
86.48
87.39
86.60
90.72
90.72
92.34
90.89
93.71
93.71
92.02
92.60
95.28
94.86
94.86
95.16
94.86
94.86
94.86
94.86
97.01
97.01
97.83
98.87
98.21
98.54
101.74
101.32
101.32
101.51
98.67
98.91
98.91
98.61
98.61
98.15
97.31
97.31
94.84
94.84
95.01
95.17
95.47
96.79
98.87
98.04
98.04
97.76
96.07
95.51
94.71
97.51
96.86
97.73
96.57
92.74
93.69
92.69
92.32
91.60
93.34
Ga
s*
*
3.65
4.05
3.94
3.72
3.67
3.64
3.71
3.79
3.83
3.91
3.86
3.95
3.94
3.94
4.02
3.96
4.03
4.03
3.95
3.88
3.91
4.01
4.01
4.00
3.86
3.86
3.86
3.86
3.86
3.86
3.88
3.84
3.98
3.98
4.48
4.47
4.47
4.62
4.45
4.37
4.37
4.43
4.43
4.50
4.45
4.45
4.75
4.75
4.67
4.69
4.77
4.78
4.77
4.96
4.96
4.59
4.55
4.50
4.51
4.62
4.70
4.68
4.67
4.52
4.44
4.51
4.27
4.23
4.27