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U.S. OCS Upstream Fiscal and Regulatory Report-US Administration Opens Up Federal Waters for Exploration

Published By :

GlobalData

Published Date : Feb 2018

Category :

Power

No. of Pages : 26 Pages

U.S. OCS Upstream Fiscal and Regulatory Report - US Administration Opens Up Federal Waters for Exploration

Summary

"U.S. OCS Upstream Fiscal and Regulatory Report - US Administration Opens Up Federal Waters for Exploration", presents the essential information relating to the terms which govern investment into United Statess upstream oil and gas sector. The report sets out in detail the contractual framework under which firms must operate in the industry, clearly defining factors affecting profitability and quantifying the states take from hydrocarbon production. Considering political, economic and industry specific variables, the report also analyses future trends for United Statess upstream oil and gas investment climate.

Scope

- Overview of current fiscal terms governing upstream oil and gas operations in United States
- Assessment of the current fiscal regimes state take and attractiveness to investors
- Charts illustrating the regime structure, and legal and institutional frameworks
- Detail on legal framework and governing bodies administering the industry
- Levels of upfront payments and taxation applicable to oil and gas production
- Information on application of fiscal and regulatory terms to specific licenses
- Outlook on future of fiscal and regulatory terms in United States

Reasons to buy

- Understand the complex regulations and contractual requirements applicable to United Statess upstream oil and gas sector
- Evaluate factors determining profit levels in the industry
- Identify potential regulatory issues facing investors in the countrys upstream sector
- Utilize considered insight on future trends to inform decision-making
1 Table of Contents
1 Table of Contents 1
1.1. List of Tables 2
1.2. List of Figures 3
2. Regime Overview 4
3. State Take Assessment 6
4. Key Fiscal Terms 7
4.1. Royalties, Bonuses and Fees 7
4.1.1. Bonus 7
4.1.2. Rental 8
4.1.3. Royalty 10
4.2. Direct Taxation 14
4.2.1. Corporate Income Tax 14
4.2.2. Deductions and Depreciation 14
4.2.3. Depletion Allowance 16
4.2.4. Carbon Credit for Enhanced Oil Recovery 16
4.2.5. Withholding Tax 16
4.3. Indirect Taxation 17
4.3.1. Value Added Tax 17
4.3.2. Custom Duties 17
5. Regulation and Licensing 18
5.1. Legal Framework 18
5.1.1. Governing Law 19
5.1.2. Contract Type 19
5.1.3. Title to Hydrocarbons 19
5.2. Institutional Framework 20
5.2.1. Licensing Authority 20
5.2.2. Regulatory Agency 21
5.3. Licensing Process 21
5.3.1. Licensing Rounds 21
5.3.2. Pre-Qualification 22
5.3.3. Bidding 22
5.4. License Terms 22
5.4.1. Duration and Relinquishments 22
5.4.2. Work Obligation 22
5.5. Local Content 23
6. Outlook 24
7. Appendix 25
7.1. Contact Us 25
7.2. Disclaimer 25

1.1 List of Tables
Table 1: Regime Overview 4
Table 2: US OCS Average Bonus Per Acre in Recent Lease Sales (US$) 7
Table 3: US OCS, Gulf of Mexico Rental Rates (US$ per acre) 8
Table 4: US OCS, Gulf of Mexico Rental Program R1, R2, R3, R4, R5 and R6 (US$ per acre) 9
Table 5: US OCS, Gulf of Mexico Royalty Rates (%) 10
Table 6: US OCS, Gulf of Mexico Deepwater Royalty Relief Volumes (mmboe) 11
Table 7: US OCS, Gulf of Mexico Deepwater Royalty Relief Price Threshold in (US$) 11
Table 8: US OCS, Gulf of Mexico Shallow Water Deep Gas Royalty Relief Volumes (bcf) 12
Table 9: US OCS, Alaska Suspension Volume (mmboe) 13
Table 10: US OCS, Historical Income Tax Rate (%), 1993 onwards 14
Table 11: US OCS, Depreciation of assets in (%) 15
Table 12: US OCS, Recovery period of depreciable assets in (years) 15
Table 13: US OCS, Bonus Depreciation 16
Table 14: US OCS, Gulf of Mexico, Initial Period (years), 2015 22

1.2 List of Figures
Figure 1: Regime Flow Chart 5
Figure 2: US OCS, Indicative NPV10/boe, IRR and State Take Comparison, Regional 6
Figure 3: US OCS, Legal Framework 18
Figure 4: US OCS, Institutional Framework 20

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