Trinity Exploration & Production (Trinity Exploration & Production) Long-Term Capital Lease Obligation : $0.24 Mil (As of Jun. 2023)

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What is Trinity Exploration & Production Long-Term Capital Lease Obligation?

Trinity Exploration & Production's Long-Term Capital Lease Obligation for the quarter that ended in Jun. 2023 was $0.24 Mil.

Trinity Exploration & Production's quarterly Long-Term Capital Lease Obligation increased from Jun. 2022 ($0.20 Mil) to Dec. 2022 ($0.34 Mil) but then declined from Dec. 2022 ($0.34 Mil) to Jun. 2023 ($0.24 Mil).

Trinity Exploration & Production's annual Long-Term Capital Lease Obligation declined from Dec. 2020 ($0.47 Mil) to Dec. 2021 ($0.10 Mil) but then increased from Dec. 2021 ($0.10 Mil) to Dec. 2022 ($0.34 Mil).

Trinity Exploration & Production Long-Term Capital Lease Obligation Historical Data

The historical data trend for Trinity Exploration & Production's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Trinity Exploration & Production Long-Term Capital Lease Obligation Chart

Trinity Exploration & Production Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Long-Term Capital Lease Obligation

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0.84

0.47

0.10

0.34

Trinity Exploration & Production Semi-Annual Data
	Dec13	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															0.23	0.10	0.20	0.34	0.24

Trinity Exploration & Production (OTCPK:TRXEF) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

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Trinity Exploration & Production (Trinity Exploration & Production) Business Description

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GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Trinity Exploration & Production PLC (OTCPK:TRXEF) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

TRIN.GB:UK TRIN:UK

Address

C/o Pinsent Masons LLP, 1 Park Row, Leeds, GBR, LS1 5AB

Website

https://www.trinityexploration.com

Trinity Exploration & Production PLC is an independent exploration and production company. Its activities include the exploration, development, production, and sale of crude oil. The company operates a portfolio of producing and development assets both onshore and offshore in the shallow waters off the West and East Coasts of Trinidad. It operates through one operating segment being exploration and development, production and extraction of hydrocarbons.