Country report
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19 Pages

United States (Lower 48) upstream fiscal summary


United States (Lower 48) upstream fiscal summary

Report summary

Relatively complex concession-based fiscal regime, where licence terms are dependent upon land ownership.  A cash or signature bonus is paid to the land owner when the lease is signed.  Royalty rates vary depending upon whether land is State-owned private land, and when the licence was issued.  Most states in the US apply a production or severance tax on the gross value of oil and gas production (minus royalties paid or due) irrespective of land ownership.  Companies are also liable for...

What's included?

This report includes 1 file(s)

  • United States (Lower 48) upstream fiscal summary PDF - 456.47 KB 19 Pages, 17 Tables, 10 Figures

Description

Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.

This country report gives an overview of the key fiscal issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream fiscal summary report is your definitive commercial guide.

Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research. Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in commercial data and analysis.

  • Executive summary
  • Current licence, equity and fiscal terms
    • Basis
    • Licence terms
    • Government equity participation
    • Fiscal terms
      • Ring fencing
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty
      • Severance (production) tax
      • State income tax
      • Federal income tax
      • Product pricing
      • Summary of modelled terms
        • Assumed terms by location - gas
  • Fiscal stability
    • Recent history of fiscal changes
  • Economic analysis
    • Texas
      • Split of the barrel and share of profit
      • Effective royalty rate and maximum government share
        • Effective royalty rate - onshore, gas
        • Maximum government share - onshore, gas
        • Progressivity
          • Fiscal deterrence

In this report there are 27 tables or charts, including:

  • Executive summary
    • Revenue flowchart: L48 concession
  • Current licence, equity and fiscal terms
    • Bonuses, rentals and fees
    • Ad Valorem (property) tax
    • Royalty rates
    • Current licence, equity and fiscal terms: Table 4
    • Current licence, equity and fiscal terms: Table 5
    • Current licence, equity and fiscal terms: Table 6
    • Current licence, equity and fiscal terms: Table 7
    • Assumed terms by location - oil
    • Current licence, equity and fiscal terms: Table 9
  • Fiscal stability
    • Timeline
    • Timeline detail
  • Economic analysis
    • Split of the barrel - oil
    • Split of the barrel - gas
    • Share of profit - oil
    • Share of profit - gas
    • Effective royalty rate - onshore, oil
    • Economic analysis: Table 2
    • Maximum government share - onshore, oil
    • Economic analysis: Table 4
    • 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
    • Fiscal terms for oil (US L48)
    • Fiscal terms for gas (US L48)
    • Appendix
Requester's name : .............
Department : .............
Authoriser's Name : .............
Authoriser's signature : .............
Date : .............
Cost Centre : .............

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