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Alberta royalty review modernises framework while leaving oil sands regime intact


Alberta royalty review modernises framework while leaving oil sands regime intact

Report summary

After a five month review, Alberta's new royalty framework was announced on 29 January 2016. The review resulted in the existing framework for the oil sands sector to be retained, while an overhaul to the current non-oil sands framework will take effect 1 January 2017. The new framework aims to create a simplified and reactive structure based on an emulative revenue minus costs approach and is designed with the intention that industry makes the same rate of return (IRR) as under the current system. The Panel has clearly highlighted costs and competitiveness as a top concern for Alberta's energy industry and the changes to the royalty framework are designed to encourage cost reductions and increase public transparency. Industry reaction has overall been positive.

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  • Alberta royalty review modernises framework while leaving oil sands regime intact PDF - 287.57 KB 5 Pages, 0 Tables, 2 Figures
  • Alberta royalty review modernises framework while leaving oil sands regime intact.xls XLS - 145.50 KB

Description

This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

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  • Executive summary
  • Results and implications for oil sands
  • Results and implications for conventional and unconventional wells
    • How the Modernized Royalty Framework will work
    • Calibration period – key items still required
    • Other issues raised by the MRF

In this report there are 2 tables or charts, including:

  • Executive summary
  • Results and implications for oil sands
    • Historical oil sands royalties
    • Forecast oil sands royalties
  • Results and implications for conventional and unconventional wells
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