Mr. Erik Milito - The House Committee on Natural Resources ...

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www.woodmac.com GEM Tool Description <strong>The</strong> Global Economic Model (GEM) is Wood Mackenzie’s proprietary economic modeling software • GEM combines Wood Mackenzie’s unique and proprietary data, both historic and forecast, with company interests, price decks and fiscal models to produce cash flow and valuation reports. It contains more than 190 fiscal regimes covering the globe • GEM generates cash flow and production forecasts based on user input development plans. <strong>The</strong>se include drilling forecasts and assumed type well profiles and well costs for onshore U.S. plays. For offshore developments, Alaska and the Canadian oil sands, production facilities and export pipelines are also included • GEM includes a sensitivity tool to show the economics impact of changes in costs, taxes, production and prices. Outputs include cash flow summaries, IRR, NPV and $/boe calculations • Wood Mackenzie has developed cost, tax and production data in the following productive regions: • Alaska – 57 fields • Gulf of Mexico – 212 fields • Canadian oil sands – 25 projects • Onshore U.S. – 245 plays © Wood Mackenzie 53 Delivering commercial insight
www.woodmac.com Tax Assumptions • Models included the following assumptions: • Federal royalty rates modelled at 12.5% • Federal income tax modelled at 35% • Wood Mackenzie’s commodity price forecast was used. For all new Access region models, oil was priced at WTI, gas was priced at Henry Hub (HH). Oil price forecast was $80/bbl in 2012 inflating at 2.50%. Gas price forecast was $6.00/mcf in 2012 inflating at 2.50% • In the Atlantic and Pacific OCS regions royalties were split with 37.5/62.5 between the states and the federal government respectively. In Alaska federal areas the royalty split with the state was 50/50. • Production and revenue from new access regions were split by state according to the following: • Atlantic OCS – Maine 13%, New Hampshire 1%, Massachusetts 11%, Rhode Island 2%, Connecticut 6%, New York 7%, New Jersey 8%, Delaware 2%, Maryland 3%, Virginia 10%, North Carolina 26%, South Carolina 3%, Georgia 2%, Florida 5% • Pacific OCS – California 94%, Oregon 4%, Washington 2% • East Gulf of Mexico – Florida 100% • Rockies – Colorado 27.0%, North Dakota 19.4%, South Dakota 0.1%, Wyoming 31.7%, Utah 12.4%, New Mexico 6.8%, Montana 2.6% • For the existing producing areas; Gulf of Mexico, Alaska and onshore U.S., Wood Mackenzie has modeled each producing field or play by its applicable state and federal royalty • Other state taxes, such as Ad Valorem, Severance Taxes, and fee royalties have been applied which applicable © Wood Mackenzie 54 Delivering commercial insight
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oost domestic production by four mi
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astonishing, with an estimated 17,0
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industry’s development costs thro
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Environmental Protection for Onshor
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Environmental Protection for Onshor
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ENVIRONMENTAL PROTECTION FOR ONSHOR
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Hydraulic Fracturing Operations—
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Contents 1 Scope . . . . . . . . .
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Hydraulic Fracturing Operations—W
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HYDRAULIC FRACTURING OPERATIONS—W
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Bibliography [1] Interstate Oil and
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2009 Publications Order Form Effect
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1220 L Street, NW Washington, DC 20
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Contents January 2012 EXECUTIVE SUM
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January 2012 EMPLOYMENT, GOVERNMENT
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January 2012 These
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January 2012 Figure 1: Natural Gas
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1.1 New Federal Drilling Leases Iss
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1.2 Permits to Drill: Down 39% Janu
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1.3 New Wells Drilled on Federal La
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January 2012 2 ADVERSE FEDERAL LAND
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January 2012 3 Economic Projections
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3.1 Overview of Baseline and Altern
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January 2012 TABLE 3 - NET (Alterna
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3.3 January 2012 Increased Producti
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January 2012 The n
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January 2012 Figure 17: Total Emplo
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January 2012 Table 9 shows what the
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January 2012 4 CONCLUSION T
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January 2012 5 APPENDIX: Data and M
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TABLE 11 - Baseline and Alternative
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5.3 Employment January 2012 Employm
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5.4 State Severance and Ad Valorem
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Natural Gas Production, billion cub
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Number of Wells Started (Spud) on F
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Net (Alternative Minus Baseline) Ja
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Net (Alternative Minus Baseline) Ja
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Federal royalties of production of
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Imports from Rest of the World 38%
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Water Management Associated with Hy
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Contents Executive Summary . . . .
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considerations). A hierarchy of pot
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2 API GUIDANCE DOCUMENT HF2 2.8 flo
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4 API GUIDANCE DOCUMENT HF2 2.30 so
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6 API GUIDANCE DOCUMENT HF2 As deve
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18 API GUIDANCE DOCUMENT HF2 fractu
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22 API GUIDANCE DOCUMENT HF2 <stron
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Bibliography [1] American Petroleum
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26 API GUIDANCE DOCUMENT HF2 [32] H
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THERE’S MORE WHERE THIS CAME FROM
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Practices for Mitigating Surface Im
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Contents Executive Summary . . . .
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proactive in communicating to, and
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Practices for Mitigating Surface Im
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PRACTICES FOR MITIGATING SURFACE IM
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2010 PUBLICATIONS ORDER FORM Effect
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Product No. GHF301
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www.woodmac.com Project Background
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www.woodmac.com Key Results ACCESS
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www.woodmac.com Scope of Study - Ac
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www.woodmac.com Methodology Access
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www.woodmac.com Methodology Access
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www.woodmac.com Access Scenario - E
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www.woodmac.com 2 Increased Tax Sce
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www.woodmac.com Access Scenario - V
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Tax Scenario - Estimated Impacts on
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www.woodmac.com Wood Mackenzie Disc
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Isolating Potential Flow Zones Duri
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Contents 1 Scope . . . . . . . . .
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Isolating Potential Flow Zones Duri
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ISOLATING POTENTIAL FLOW ZONES DURI
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Annex B (informative) Well Planning
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Bibliography [1] Gai, H., Walz, G.,
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THERE’S MORE WHERE THIS CAME FROM
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Economic Impacts of Oil and Gas Dev
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Administration energy strategy is n
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2012 Administration raises the min
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Page 397 and 398: www.woodmac.com Contents 1 2 Scenar
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