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    Length: 4992 (0x1380)
    Types: TextFile
    Names: »OIL.MOD«

└─⟦6ae1c04a5⟧ Bits:30004364 SW1656 IFPS/Personal Version 2.10 release 1.1
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TextFile

COLUMNS 1985..1994,TOTAL
Ø
Ø Production Rates : Input as either daily or yearly
Ø                    Can be accessed from decline profiles
Ø
OIL PRODUCTION MBBLS =DATA,PREVIOUS * .90
NONASC GAS PRODUCTION MMCF=DATA,PREVIOUS * .85
OIL PRICE=DATA,PREVIOUS * 1.02                           
GAS PRICE=DATA,PREVIOUS * 1.04                    
Ø
OIL REVENUES = OIL PRODUCTION MBBLS * OIL PRICE 
GAS REVENUES = NONASC GAS PRODUCTION MMCF * GAS PRICE          
TOTAL GROSS REVENUES = SUM(OIL REVENUES THRU GAS REVENUES)
Ø
Ø Interest in Operations Calculations
Ø
OVERRIDING ROYALTY INTEREST = DATA
WORKING INTEREST = DATA 
NET REVENUE INTEREST = DATA
Ø
YOUR SHARE OIL PRODUCTION=OIL PRODUCTION MBBLS*NET REVENUE INTEREST 
YOUR SHARE GAS PRODUCTION=NONASC GAS PRODUCTION MMCF * '         
                          NET REVENUE INTEREST 
YOUR SHARE OIL REVENUES = OIL REVENUES * NET REVENUE INTEREST  
YOUR SHARE GAS REVENUES = GAS REVENUES * NET REVENUE INTEREST 
TOTAL NET REVENUES = SUM(YOUR SHARE OIL REVENUES THRU '
                         YOUR SHARE GAS REVENUES)
Ø
Ø Operating Costs
Ø
OPERATING COSTS=DATA,PREVIOUS * 1.06 
YOUR SHARE OPERATING COSTS = OPERATING COSTS * WORKING INTEREST  
Ø
Ø     Windfall Profits Tax, Severance and Ad Valorem
Ø
WINDFALL PROFITS TAX = WPT RATE * WINDFALL PROFITS BASE     
WPT BASE PRICE = DATA,PREVIOUS * 1.05
WPT RATE TIER 3 = 25%,22.5%,20%,17.5%,15%
WPT RATE TIER 2 = 60%
WPT RATE TIER 1 = 70%
WPT RATE = 25%,22.5%,20%,17.5%,15%
ADJUSTMENT WITH SEVERANCE = (OIL PRICE - WPT BASE PRICE) * '
                           OIL SEVERANCE TAX RATE
WINDFALL PROFITS BASE = YOUR SHARE OIL PRODUCTION * (OIL PRICE - '
                        WPT BASE PRICE - ADJUSTMENT WITH SEVERANCE)
OIL SEVERANCE TAX RATE = DATA
GAS SEVERANCE TAX RATE = DATA
SEVERANCE TAX ON OIL = OIL SEVERANCE TAX RATE * YOUR SHARE OIL REVENUES
SEVERANCE TAX ON GAS = GAS SEVERANCE TAX RATE * YOUR SHARE GAS REVENUES
SEVERANCE TAX = SUM(SEVERANCE TAX ON OIL THRU SEVERANCE TAX ON GAS)
AD VALOREM TAX RATE = DATA
AD VALOREM TAX = AD VALOREM TAX RATE * PREVIOUS CUM TANGIBLE CAPITAL * '
                 WORKING INTEREST 
CUM TANGIBLE CAPITAL = TANGIBLE CAPITAL + PREVIOUS
Ø
TOTAL PROPERTY TAXES = WINDFALL PROFITS TAX + SEVERANCE TAX + '
                       AD VALOREM TAX 
Ø
Ø      State and Federal Income Taxes
Ø
STATE INCOME TAX RATE = DATA
STATE INCOME TAX = STATE TAXABLE INCOME * STATE INCOME TAX RATE         
STATE TAXABLE INCOME = OPERATING INCOME                    
FEDERAL INCOME TAX RATE = DATA
FEDERAL TAXABLE INCOME = OPERATING INCOME - STATE INCOME TAX              
FEDERAL INCOME TAX = FEDERAL INCOME TAX RATE * FEDERAL TAXABLE INCOME    
Ø
Ø Investments
Ø
TANGIBLE CAPITAL = DATA                           
INTANGIBLE CAPITAL = DATA
LEASEHOLD CAPITAL = DATA                  
DRY HOLE CAPITAL = DATA
YOUR SHARE TANGIBLE CAPITAL = TANGIBLE CAPITAL * WORKING INTEREST         
YOUR SHARE INTANGIBLE CAPITAL = INTANGIBLE CAPITAL * WORKING INTEREST 
YOUR SHARE LEASEHOLD CAPITAL = LEASEHOLD CAPITAL * WORKING INTEREST   
YOUR SHARE DRY HOLE CAPITAL = DRY HOLE CAPITAL * WORKING INTEREST
TOTAL CAPITAL = SUM(YOUR SHARE TANGIBLE CAPITAL THRU '
                    YOUR SHARE DRY HOLE CAPITAL)
Ø
Ø Summary Results
Ø
TOTAL EXPENSES = YOUR SHARE OPERATING COSTS + SEVERANCE TAX + '
                 WINDFALL PROFITS TAX + AD VALOREM TAX 
OPERATING INCOME = TOTAL NET REVENUES - TOTAL EXPENSES 
NET CASH FLOW BEFORE TAX = OPERATING INCOME - TOTAL CAPITAL         
TOT NET CASH FLOW BEF TAX = NET CASH FLOW BEFORE TAX + PREVIOUS FOR 10,'
                            PREVIOUS
INCOME TAX = FEDERAL INCOME TAX + STATE INCOME TAX 
NET INCOME AFTER TAX = OPERATING INCOME - INCOME TAX 
NET CASH FLOW AFTER TAX = NET CASH FLOW BEFORE TAX - INCOME TAX 
TOT NET CASH FLOW AFT TAX = NET CASH FLOW AFTER TAX + PREVIOUS FOR 10,'
                            PREVIOUS
INVESTMENT TAX CREDIT = 10% * YOUR SHARE TANGIBLE CAPITAL   
NET INCOME AFTER ITC = NET INCOME AFTER TAX + INVESTMENT TAX CREDIT  
Ø
Ø Key Indicators
Ø
PAYOUT = OPERATING INCOME - PAYOUT INVESTMENT 
PAYOUT INVESTMENT = YOUR SHARE TANGIBLE CAPITAL + '
                    YOUR SHARE INTANGIBLE CAPITAL
CUM PAYOUT = PAYOUT + PREVIOUS FOR 10,PREVIOUS
PAYOUT TIME = IF CUM PAYOUT .GE. 0 .AND. PREVIOUS CUM PAYOUT .LE. 0 THEN '
              PAYCALC ELSE PREVIOUS
PAYCALC = PAY YEAR + ((0 - PREVIOUS CUM PAYOUT) / (CUM PAYOUT - '
                       PREVIOUS CUM PAYOUT)) FOR 10,PREVIOUS
PAY YEAR = 0,PREVIOUS + 1
Ø
RATE OF RETURN BEFORE TAX = IRR(NET CASH FLOW BEFORE TAX,0)         
RATE OF RETURN AFTER TAX = IRR(NET CASH FLOW AFTER TAX,0)        
PV OF CASH BEFORE TAX = NPVC(NET CASH FLOW BEFORE TAX,DISC RATE,0) 
PV OF CASH AFTER TAX = NPVC(NET CASH FLOW AFTER TAX,DISC RATE,0) 
DISC RATE = DATA
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