We categorize our portfolio according to periodic reviews of our estimates of the potential revenue contribution and stage of development for each individual property, as follows:
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Our Principal Properties are generally in production and are the most significant contributors of revenue to our portfolio.
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Our Producing Properties are generally in production and contribute revenue to our portfolio.
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Our Development Properties generally do not produce revenue and activity is underway by the operator to develop the properties towards production status.
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Our Evaluation and Exploration stage properties do not produce revenue and activity may or may not be underway by the operator to advance the property towards development status.
Portfolio properties periodically move from one category to another depending on factors such as exploration success or depletion of reserves.