15 June, 2015 at 7:14 am in Business
Philip O. Johnson, Senior Drilling EngineerWhen it comes to drilling, efficiency is the name of the game as time equates to money. The quote shown above by Johnson fully illustrates this concept as he talks about the costs of raising a drill bit out of the borehole.
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Total cumulative expense recognized for the performance units from date of grant through January 2, 2011 was $5.8 million based on the current estimated fair values of $8.30 and $6.41 per unit. If the value of the performance mulberry outlet units at settlement date is the maximum value per unit, the Company would recognize additional share based compensation expense of $7.1 million during fiscal 2011. The amount and timing of the recognition of additional expense will be dependent on the estimated fair value at each quarterly reporting date.yq0615