ENTERGY MISSISSIPPI, INC.  MANAGEMENT’S FINANCIAL DISCUSSION AND ANALYSIS Plan to Spin Off the Utility’s Transmission Business See the “Plan to Spin Off the Utility’s Transmission Business” section of Entergy Corporation and Subsidiaries Management’s Financial Discussion and Analysis for a discussion of this matter, including the planned retirement of debt and preferred securities.
Results of Operations Net Income 2011 Compared to 2010 Net income increased $23.4 million primarily due to a lower effective income tax rate.2010 Compared to 2009 Net income increased $6.0 million primarily due to higher net revenue and higher other income, partially offset by higher taxes other than income taxes, higher depreciation and amortization expenses, and higher interest expense.
Net Revenue 2011 Compared to 2010 Net revenue consists of operating revenues net of: 1) fuel, fuel-related expenses, and gas purchased for resale, 2) purchased power expenses, and 3) other regulatory charges (credits).
Following is an analysis of the change in net revenue comparing 2011 to 2010.
## Table 0 ##
The volume/weather variance is primarily due to a decrease of 97 GWh in weather-adjusted usage in the residential and commercial sectors and a decrease in sales volume in the unbilled sales period.
The transmission equalization variance is primarily due to the addition in 2011 of transmission investments that are subject to equalization.
Gross operating revenues and fuel and purchased power expenses Gross operating revenues increased primarily due to an increase of $57.5 million in gross wholesale revenues due to an increase in sales to affiliated customers, partially offset by a decrease of $26.9 million in power management rider revenue.
Fuel and purchased power expenses increased primarily due to an increase in deferred fuel expense as a result of higher fuel revenues due to higher fuel rates, partially offset by a decrease in the average market prices of natural gas and purchased power.
and $1.12 per Mcf (2007) from hedging activities.
The effect of hedging activities on the average realized natural gas price for 2009 was de minimis.
(3) Average crude oil sales prices reflect reductions of $5.57 per Bbl (2009), $7.59 per Bbl (2008), and $2.19 per Bbl (2007) from hedging activities.
Natural gas is under contract for $0.25 per MMBtu to a methanol plant, an LPG plant and an LNG plant.
Sales to these plants are based on a BTU equivalent and then converted to a dry gas equivalent volume.
The methanol and LPG plants are owned by affiliated entities accounted for under the equity method of accounting.
The volumes produced by the LPG plant are included in the crude oil information.
(4) Volumes represent sales of condensate and LPG from the LPG plant in Equatorial Guinea.
(5) We sold our Argentina assets in February 2008.
Revenues from sales of crude oil and natural gas have accounted for 90% or more of consolidated revenues for each of the last three fiscal years.
At December 31, 2009, our operated properties accounted for approximately 60% of our total production.
Being the operator of a property improves our ability to directly influence production levels and the timing of projects, while also enhancing our control over operating expenses and capital expenditures.
Productive Wells The number of productive crude oil and natural gas wells in which we held an interest at December 31, 2009 was as follows:
## Table 1 ##
Productive wells are producing wells and wells mechanically capable of production.
A gross well is a well in which a working interest is owned.
The number of gross wells is the total number of wells in which a working interest is owned.
The number of net wells is the sum of the fractional working interests owned in gross wells expressed as whole numbers and fractions thereof.
Wells with multiple completions are counted as one well in the table above.
Developed and Undeveloped Acreage Developed and undeveloped acreage (including both leases and concessions) held at December 31, 2009 was as follows:
## Table 2 ##
(1) The North Sea includes acreage in the UK and the Netherlands.
Electricity Sales and Expense We have a 100% ownership interest in an integrated natural gas-to-power project.
The project includes the Amistad natural gas field, offshore Ecuador, which supplies fuel to the Machala power plant.
Electricity sales are included in other revenues and electricity generation expense is included in other operating expense, net in the consolidated statements of operations.
Operating data is as follows:
## Table 3 ##
The volume of natural gas produced and electric power generated in Ecuador are related to thermal electricity demand in Ecuador which typically declines at the onset of the rainy season.
When Ecuador has sufficient rainfall to allow hydroelectric power producers to provide base load power, we provide electricity only to meet peak demand.
As seasonal rains subside, we experience increasing demand for thermal electricity.
Electricity generation expense includes all operating and non-operating expenses associated with the plant, including DD&A expense and changes in the allowance for doubtful accounts.
The allowance is necessary to cover potentially uncollectible balances related to the Ecuador power operations, as certain entities purchasing electricity in Ecuador have been slow to pay amounts due us.
In 2009, we reduced the allowance for doubtful accounts by $46 million and included the amount as a reduction in electricity generation expense as a result of amounts received related to a settlement.
We charged additions to the allowance of $14 million in 2009, $11 million in 2008, and $14 million in 2007.
See Item 8.
Financial Statements and Supplementary Data – Note 2.
Summary of Significant Accounting Policies.
At both December 31, 2009 and 2008, we assessed the recoverability of our Ecuador investment.
As a result of these analyses, we determined that our investment was impaired and recorded pre-tax (non-cash) impairments of $100 million and $70 million, respectively.
See Critical Accounting Policies and Estimates – Impairment of Proved Oil and Gas Properties and Other Investments and Item 8.
Financial Statements – Note 3.
Asset Impairments.
(Gain) Loss on Involuntary Conversion In 2009, we recorded a net gain of $9 million related to receipt of insurance claims for damage caused by Hurricanes Katrina and Rita.
We recorded losses on involuntary conversion of $9 million in 2008 and $51 million in 2007 related to hurricane damage to our Gulf of Mexico Main Pass assets.
The amounts are included in other operating expense, net in the consolidated statements of operations.
See Item 8.
Financial Statements and Supplementary Data – Note 2.
Summary of Significant Accounting Policies.
Other Other operating expense, net includes reductions in the carrying value of a receivable from SemCrude, L. P. , a crude oil purchaser.
Reductions totaled $12 million in 2009 and $38 million in 2008.
See Item 8.
Financial Statements and Supplementary Data – Note 17.
Commitments and Contingencies.
(Gain) Loss on Commodity Derivative Instruments Gain (loss) on commodity derivative instruments was as follows:
## Table 4 ##
See Critical Accounting Policies and Estimates – Derivative Instruments and Hedging Activities, below, and Item 8.
Financial Statements and Supplementary Data – Note 5.
Fair Value Measurements and Disclosures and Note 6.
Derivative Instruments and Hedging Activities.
In comparison, in 2007, we used cash of $107 million in financing activities.
Funds were provided by net borrowings ($25 million) and cash proceeds from, and tax benefits related to, the exercise of stock options ($45 million).
We were able to use available cash to finance the repurchase of two million shares of our common stock ($102 million) and pay cash dividends on our common stock ($75 million).
Acquisition, Capital and Other Exploration Expenditures Acquisition, Capital and Other Exploration Expenditures Information for investing activities (on an accrual basis) is as follows:

<table><tr><td></td><td>Amount (In Millions)</td></tr><tr><td>2010 net revenue</td><td>$555.3</td></tr><tr><td>Volume/weather</td><td>-4.5</td></tr><tr><td>Transmission equalization</td><td>4.5</td></tr><tr><td>Other</td><td>-0.4</td></tr><tr><td>2011 net revenue</td><td>$554.9</td></tr></table>
<table><tr><td></td><td colspan="2">Crude Oil Wells</td><td colspan="2">Natural Gas Wells</td><td colspan="2">Total</td></tr><tr><td></td><td>Gross</td><td>Net</td><td>Gross</td><td>Net</td><td>Gross</td><td>Net</td></tr><tr><td>United States</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Northern Region</td><td>7,825</td><td>6,119.0</td><td>5,028</td><td>3,637.9</td><td>12,853</td><td>9,756.9</td></tr><tr><td>Southern Region</td><td>799</td><td>593.0</td><td>392</td><td>175.0</td><td>1,191</td><td>768.0</td></tr><tr><td>Equatorial Guinea</td><td>4</td><td>1.7</td><td>20</td><td>7.7</td><td>24</td><td>9.4</td></tr><tr><td>Israel</td><td>-</td><td>-</td><td>5</td><td>2.4</td><td>5</td><td>2.4</td></tr><tr><td>North Sea</td><td>22</td><td>4.7</td><td>8</td><td>1.0</td><td>30</td><td>5.7</td></tr><tr><td>Ecuador</td><td>-</td><td>-</td><td>3</td><td>3.0</td><td>3</td><td>3.0</td></tr><tr><td>China</td><td>15</td><td>8.6</td><td>1</td><td>0.6</td><td>16</td><td>9.2</td></tr><tr><td>Total</td><td>8,665</td><td>6,727.0</td><td>5,457</td><td>3,827.6</td><td>14,122</td><td>10,554.6</td></tr></table>
<table><tr><td></td><td colspan="2">Developed Acreage</td><td colspan="2">Undeveloped Acreage</td></tr><tr><td></td><td>Gross</td><td>Net</td><td>Gross</td><td>Net</td></tr><tr><td>(thousands)</td><td></td><td></td><td></td><td></td></tr><tr><td>United States</td><td></td><td></td><td></td><td></td></tr><tr><td>Onshore</td><td>1,625</td><td>956</td><td>1,603</td><td>1,262</td></tr><tr><td>Offshore</td><td>134</td><td>84</td><td>524</td><td>362</td></tr><tr><td>Total United States</td><td>1,759</td><td>1,040</td><td>2,127</td><td>1,624</td></tr><tr><td>International</td><td></td><td></td><td></td><td></td></tr><tr><td>Equatorial Guinea</td><td>140</td><td>53</td><td>523</td><td>212</td></tr><tr><td>Cameroon</td><td>-</td><td>-</td><td>1,125</td><td>563</td></tr><tr><td>Israel</td><td>62</td><td>29</td><td>1,790</td><td>796</td></tr><tr><td>North Sea-1</td><td>50</td><td>6</td><td>229</td><td>44</td></tr><tr><td>Ecuador</td><td>12</td><td>12</td><td>849</td><td>849</td></tr><tr><td>China</td><td>7</td><td>4</td><td>-</td><td>-</td></tr><tr><td>Suriname</td><td>-</td><td>-</td><td>3,087</td><td>1,389</td></tr><tr><td>Nicaragua</td><td>-</td><td>-</td><td>1,977</td><td>1,977</td></tr><tr><td>Cyprus</td><td>-</td><td>-</td><td>1,136</td><td>795</td></tr><tr><td>India</td><td>-</td><td>-</td><td>694</td><td>347</td></tr><tr><td>Total International</td><td>271</td><td>104</td><td>11,410</td><td>6,972</td></tr><tr><td>Total-2</td><td>2,030</td><td>1,144</td><td>13,537</td><td>8,596</td></tr></table>
<table><tr><td></td><td colspan="3">Year Ended December 31,</td></tr><tr><td></td><td>2009</td><td>2008</td><td>2007</td></tr><tr><td>(millions, except as noted)</td><td></td><td></td><td></td></tr><tr><td>Electricity Sales</td><td>$72</td><td>$56</td><td>$71</td></tr><tr><td>Electricity Generation Expense</td><td>18</td><td>57</td><td>57</td></tr><tr><td>Operating Income</td><td>54</td><td>-1</td><td>14</td></tr><tr><td>Power Generation (GW)</td><td>902</td><td>749</td><td>912</td></tr><tr><td>Average Power Price ($/Kwh)</td><td>$0.080</td><td>$0.074</td><td>$0.078</td></tr></table>
<table><tr><td></td><td colspan="3">Year Ended December 31,</td></tr><tr><td></td><td>2009</td><td>2008</td><td>2007</td></tr><tr><td>(millions)</td><td></td><td></td><td></td></tr><tr><td>(Gain) Loss on Commodity Derivative Instruments</td><td>$110</td><td>$-440</td><td>$-2</td></tr></table>

Question: What is the ratio of all elements that are in the range of 1600 and 3000 to the sum of elements, for Gross of Undeveloped Acreage?
Answer: 0.39669