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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 31, 2005

THE HOUSTON EXPLORATION COMPANY

(Exact name of registrant as specified in its charter)
         
Delaware   001-11899   22-2674487
(State or other jurisdiction of   (Commission File   (I.R.S. Employer
incorporation)   Number)   Identification No.)
1100 Louisiana, Suite 2000        
Houston, Texas       77002-5215
(Address of principal executive offices)       (Zip Code)

(713) 830-6800
(Registrant’s telephone number, including area code)

Not Applicable
(Former names or former address, if changed since last report)

     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 
 

 

 

Item 7.01 Regulation FD Disclosure.

The following table provides further information regarding our open derivative contracts for natural gas. This provides additional detail to the previously disclosed derivative information within Part II, Item 7A. “Quantitative and Qualitative Disclosures About Market Risk” of our Annual Report on Form 10-K for the year ended December 31, 2004.

                         
 
        Volume     Price   Floor Price   Ceiling Price
Year
   Transaction Type   (MMBtu/day)     ($/MMBtu)   ($/MMBtu)   ($/MMBtu)
 
 
                        
 
2005
   Swap     20,000     $4.75   —   —
2005
   Swap     10,000     4.77   —   —
2005
   Swap     20,000     4.78   —   —
2005
   Swap     20,000     6.15   —   —
2005
   Swap     10,000     6.30   —   —
 
                      
 
   Total Swaps     80,000              
 
                        
2005
   Costless Collar     100,000     —   $4.50   $5.50
2005
   Costless Collar     30,000     —   4.50   6.05
2005
   Costless Collar     10,000     —   4.50   6.06
2005
   Costless Collar     10,000     —   4.50   6.07
2005
   Costless Collar     10,000     —   6.50   10.15
2005
   Costless Collar     20,000     —   6.50   10.19
 
                      
 
   Total Collars     180,000              
 
                      
Total Hedged Volume 2005     260,000              
 
                      
   
                        
 
 
 
                        
2006
   Swap     20,000     $5.87   —   —
2006
   Swap     10,000     5.94   —   —
 
                      
 
   Total Swaps     30,000              
2006
   Costless Collar     10,000     —   $5.50   $7.20
2006
   Costless Collar     10,000     —   5.50   7.25
2006
   Costless Collar     40,000     —   5.50   7.26
2006
   Costless Collar     20,000     —   5.75   7.20
2006
   Costless Collar     30,000     —   5.80   7.00
2006
   Costless Collar     50,000     —   5.82   7.00
2006
   Costless Collar     30,000     —   6.00   7.00
2006
   Costless Collar     20,000     —   6.00   7.02
2006
   Costless Collar     10,000     —   6.00   7.05
 
                      
 
   Total Collars     220,000              
 
                      
Total Hedged Volume 2006     250,000              
 
                      
 
                        
 
 
 
                        
2007
   Costless Collar     20,000     —   $5.00   $6.50
2007
   Costless Collar     10,000     —   5.00   6.79
 
                      
Total Hedged Volume 2007     30,000              
 
                      
   
                        
 
 
 
                        
2008
   Costless Collar     20,000     —   $5.00   $5.72
 
                      
Total Hedge Volume 2008     20,000              
 
                      
   
                        
 
                        
 

The information in this report shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, unless expressly set forth by specific reference in such a filing.

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

         
Date: March 31, 2005
      THE HOUSTON EXPLORATION COMPANY
 
        
  By:   /s/ James F. Westmoreland
       
      James F. Westmoreland Vice President and Chief Accounting Officer