Country Report

United States (Gulf of Mexico) upstream fiscal summary

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The fiscal regime currently applicable for Federal OCS areas in the US comprises three key elements: signature bonus, royalty and federal corporate income tax (FIT). Signature bonus bids are used as the basis of lease awards and have been very high in recent years, particularly for certain deepwater leases. Royalty rates are fixed for each lease but the rate has been increased in recent years. Deepwater leases can benefit from a royalty-free volume allowance, which varies according to water...

Table of contents

  • Basis
  • Licence terms
  • Government equity participation
    • Ring fencing
    • Bonuses, rentals and fees
    • Indirect taxes
    • Royalty
    • Federal income tax
    • 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
  • Progressivity
  • Fiscal deterrence

Tables and charts

This report includes 15 images and tables including:

  • Timeline
  • Timeline detail
  • Split of the barrel - oil
  • Split of the barrel - gas
  • Share of profit - oil
  • Share of profit - gas
  • Effective royalty rate - shelf and deepwater, oil and gas
  • Maximum government share - shelf and deepwater, oil and gas
  • Bonuses, rentals and fees
  • Assumed terms by location - oil and gas

What's included

This report contains:

  • Document

    United States (Gulf of Mexico) upstream fiscal summary

    PDF 927.64 KB