Country Report

United States (Lower 48) upstream fiscal summary

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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 contains

  • Document

    United States (Lower 48) upstream fiscal summary

    PDF 464.65 KB

Table of contents

Tables and charts

This report includes 28 images and tables including:

Tables

  • Timeline detail
  • 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
  • Current licence, equity and fiscal terms: Table 8
  • Assumed terms by location - oil
  • Current licence, equity and fiscal terms: Table 10
  • Effective royalty rate - onshore, oil
  • Economic analysis: Table 2
  • Maximum government share - onshore, oil
  • Economic analysis: Table 4
  • Fiscal terms for oil (US L48)
  • Fiscal terms for gas (US L48)
  • Appendix

Images

  • Revenue flowchart: L48 concession
  • Timeline
  • Split of the barrel - oil
  • Split of the barrel - gas
  • Share of profit - oil
  • Share of profit - 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

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