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Canada (British Columbia) upstream fiscal summary

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04 July 2018

Canada (British Columbia) upstream fiscal summary

Report summary

Concession-based fiscal regime. Signature bonuses are biddable and can vary significantly by area and play. Natural gas royalty is levied on gross gas revenue less a gas cost allowance at rates which vary according to the age of the well and gas price. Oil royalty is levied on gross oil revenue at rates which vary according to the age of the well and well productivity with an additional incentive if the price is, effectively, lower than $50/bbl. Federal and Provincial income taxes are...

Table of contents

  • Executive summary
  • Current licence, equity and fiscal terms
  • Licence terms
  • Government equity participation
    • Ring fencing
    • Bonuses, rentals and fees
      • Bonuses, rentals and fees
    • Indirect taxes
      • VAT/Sales Taxes
    • Royalty
      • Generic Royalty
      • Royalty rates - Heavy Oil
      • Net Profit Royalty
      • Net Profit Royalty rates
      • Royalty credits
    • Federal income tax
    • Provincial income tax
    • Additional Taxes
      • Freehold production tax (FPT)
      • Oil FPT Rate
      • Gas FPT Rate
    • Fiscal treatment of decommissioning
    • Product pricing
    • Summary of modelled terms
    • Recent history of fiscal changes
    • Stability provisions
    • Split of the barrel and share of profit
    • Effective royalty rate and maximum government share
      • Maximum government share and maximum state share - Oil
    • Progressivity
    • Fiscal deterrence

Tables and charts

This report includes 28 images and tables including:

  • Revenue flowchart: British Columbia Concession
  • Assumed terms by location - oil and gas
  • Timeline
  • Timeline details
  • Split of the barrel - oil
  • Split of the barrel - gas
  • Share of profit - oil
  • Share of profit - gas
  • Effective royalty rate - Oil
  • Effective royalty rate - Gas
  • State share versus Pre-Share IRR - oil
  • State share versus Pre-Share IRR - gas
  • Investor IRR versus Pre-Share IRR - oil
  • Investor IRR versus Pre-Share IRR - gas
  • Current licence, equity and fiscal terms: Table 1
  • Royalty rates - Oil
  • Oil Royalty Rate
  • Current licence, equity and fiscal terms: Table 3
  • Royalty rates - Gas
  • Gas Royalty Rate
  • Current licence, equity and fiscal terms: Table 5
  • Current licence, equity and fiscal terms: Image 3
  • Current licence, equity and fiscal terms: Table 6
  • Current licence, equity and fiscal terms: Table 7
  • Current licence, equity and fiscal terms: Image 4
  • Current licence, equity and fiscal terms: Image 5
  • Economic analysis: Table 3
  • Maximum government share and maximum state share - Gas

What's included

This report contains:

  • Document

    Canada (British Columbia) upstream fiscal summary

    PDF 371.29 KB

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