-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, ET1OfHJte59RKPa38UG8olwC72qkzl7Im8i1rRoudLxS4I6T6urtac7r6EJbKvLj a7TYbL/oHNH6ej+WdbB3gQ== 0001214659-10-003431.txt : 20101228 0001214659-10-003431.hdr.sgml : 20101228 20101228163410 ACCESSION NUMBER: 0001214659-10-003431 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20101221 ITEM INFORMATION: Material Impairments FILED AS OF DATE: 20101228 DATE AS OF CHANGE: 20101228 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RIDGEWOOD ENERGY X FUND, LLC CENTRAL INDEX KEY: 0001455741 STANDARD INDUSTRIAL CLASSIFICATION: DRILLING OIL & GAS WELLS [1381] IRS NUMBER: 260870318 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-53591 FILM NUMBER: 101276200 BUSINESS ADDRESS: STREET 1: 1314 KING STREET CITY: WILMINGTON STATE: DE ZIP: 19801 BUSINESS PHONE: 201-447-9000 MAIL ADDRESS: STREET 1: 947 LINWOOD AVENUE CITY: RIDGEWOOD STATE: NJ ZIP: 07450 8-K 1 x12181018k.htm x12181018k.htm
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):  December 21, 2010
 
 
RIDGEWOOD ENERGY X FUND, LLC
(Exact name of registrant as specified on its charter)
 
 
Delaware
000-53591
26-0870318
(State of Incorporation)
(Commission
(I.R.S. Employer
 
File Number)
Identification No.)
 
 
Registrant’s address and telephone number:
14 Philips Parkway, Montvale, NJ 07645
(800) 942-5550
 
 
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-2b)
 
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 
 
­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­Item 2.06.             Material Impairments
 
On December 21, 2010, the Ridgewood Energy X Fund, LLC, (the “Fund”) along with its affiliates, Ridgewood Energy O Fund, LLC, Ridgewood Energy S Fund, LLC, Ridgewood Energy T Fund, LLC, Ridgewood Energy U Fund, LLC, Ridgewood Energy Z Fund, LLC and Ridgewood Energy Gulf of Mexico Oil and Gas Fund, L.P. (“Ridgewood”), entered into a Purchase and Sale Agreement (“Agreement”) with Stone Energy Corporation (“Stone”) to sell Ridgewood’s collective working interests in the Outer Continental Shelf (“OCS”) oil and gas leases OCS-G 33194 – Garden Banks Block 292 and OCS-G 32409 – Garden Banks 293, (collectively th e “Aspen Project”) for a total purchase price of $15.0 million.  The Fund has a 2.33% working interest in the Aspen Project and expects to receive $2.3 million in proceeds from the sale.  The Fund has spent $5.9 million on the Aspen Project.  Accordingly, as a result of the sale of the Aspen Project, the Fund expects to record a fourth quarter loss of approximately $3.5 million.
 
Pursuant to the Agreement, the closing of the sale of the Aspen Project is subject to certain conditions including a review of certain records relating to the Aspen Project but shall take place on or before January 21, 2011.  However Ridgewood cannot assure that the closing will occur as scheduled or at all.
 
 
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 hereto duly authorized.
 
 
  RIDGEWOOD ENERGY X FUND, LLC  
       
       
Date: December 28, 2010 
By:
/s/ Kathleen P. McSherry  
       
  Kathleen P. McSherry  
  Executive Vice President and Chief Financial Officer  
       
 
 
 
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