AIG Financial Products Corp. Closes $72 Million Volumetric Production Payment Transaction.WILTON, Conn. -- AIG AIG addressee indicator group (US DoD) AIG American International Group, Inc AiG Answers in Genesis (religious group in defense of Scripture) AIG Artificial Intelligence Group AIG Australian Industry Group Financial Products Corp. (AIG-FP) today announced that it closed a $72.2 million volumetric volumetric /vol·u·met·ric/ (vol?u-met´rik) pertaining to or accompanied by measurement in volumes. vol·u·met·ric adj. Of or relating to measurement by volume. production payment (VPP VPP Voluntary Protection Program (OSHA) VPP Velocity Prediction Program (to predict sail boat performance) VPP Virtual Presence Protocol VPP Volts Peak to Peak VPP Virtual Presence Post ) transaction for a southeastern energy company, under which AIG-FP purchased approximately 2.0 million barrels oil equivalent (BOE BOE Based on Experience BOE Board of Education BOE Boletín Oficial del Estado (Spanish) BOE Bank of England BOE Board of Equalization BOE Board of Elections BOE Barrel of Oil Equivalent BOE Bind on Equip ) of proved reserves proved reserves The quantity of minerals expected to be recoverable under current economic and operating conditions. The amount of proved reserves is important in valuing the stock of a company with significant holdings in natural resources. . The VPP includes producing oil and gas properties from 10 fields in Mississippi and Louisiana. The transaction has a term of 7.33 years and an average life of 2.8 years. David Ackert, energy team leader and head of the AIG-FP Transaction Development Group, said, "The VPP is a powerful tool which allows companies to unlock the value of long-lived assets at today's high Today's High The intra-day high trading price. Notes: In other words, this is the highest price that a stock traded at during the course of the day. More often than not this is higher than the closing price. See also: Today's Low oil and gas prices, substantially enhancing financial flexibility. AIG-FP is capable of participating as a principal at all levels of the capital structure by leveraging our strong balance sheet, trading capabilities and trademark ability to execute." Joe Cassano, President of AIG-FP added, "AIG-FP brings exceptional resources, and talents, to bear in providing financial solutions to energy companies. In growing the AIG-FP energy business, we can bring to bear the capabilities of our unique and powerful global platform, where we combine an investment portfolio in excess of $50 billion with corporate finance capabilities and full service trading in currencies, commodities and a wide range of credit, equity and other financial products and indices." About AIG Financial Products Corp. AIG Financial Products (AIG-FP) is a wholly-owned subsidiary of American International Group
American International Group, Inc. (AIG) (NYSE: AIG; TYO: 8685 ) is a major American insurance corporation based in New York City. , Inc. The AIG-FP group has offices in London, Paris, Tokyo, Houston, and Wilton, CT. As a leading participant in the capital and derivatives markets, AIG-FP provides its clients with corporate finance, investment and financial risk management solutions. AIG-FP's clients include the world's top corporations, asset managers, insurance companies, banks, investment banks, sovereigns and high-net-worth individuals. AIG-FP is an active trader/dealer in foreign exchange and in a full spectrum of derivative products markets including commodities, credit, energy, equity, and rates. |
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