InPlay Oil (InPlay Oil) Long-Term Capital Lease Obligation : $2.7 Mil (As of Mar. 2024)

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What is InPlay Oil Long-Term Capital Lease Obligation?

InPlay Oil's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was $2.7 Mil.

InPlay Oil's quarterly Long-Term Capital Lease Obligation increased from Sep. 2023 ($1.5 Mil) to Dec. 2023 ($2.8 Mil) but then declined from Dec. 2023 ($2.8 Mil) to Mar. 2024 ($2.7 Mil).

InPlay Oil's annual Long-Term Capital Lease Obligation declined from Dec. 2021 ($0.2 Mil) to Dec. 2022 ($0.0 Mil) but then increased from Dec. 2022 ($0.0 Mil) to Dec. 2023 ($2.8 Mil).

InPlay Oil Long-Term Capital Lease Obligation Historical Data

The historical data trend for InPlay Oil'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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InPlay Oil Long-Term Capital Lease Obligation Chart

InPlay Oil Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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0.46

0.08

0.21

2.85

InPlay Oil Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															0.71	0.64	1.51	2.85	2.69

InPlay Oil (OTCPK:IPOOF) 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.

InPlay Oil Long-Term Capital Lease Obligation Related Terms

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InPlay Oil (InPlay Oil) Business Description

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GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » InPlay Oil Corp (OTCPK:IPOOF) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

8DA1:Germany IPO:Canada

Address

2000, 350 - 7th Avenue S.W., Calgary, AB, CAN, T2P 3N9

Website

https://www.inplayoil.com

InPlay Oil Corp is an oil development and production company based in Calgary, Alberta. It is engaged in the acquisition, exploration, and development of petroleum and natural gas properties, and the production and sale of crude oil, natural gas, and natural gas liquids. The company's operations are focused on a concentrated light oil asset base located in West Central Alberta. It derives revenue from selling its production of crude oil, natural gas and NGLs under variable price contracts.