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Part of Field Development Planning and Production Performance Monitoring based on NPV and EUR.
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\mbox{NPV} = - \mbox{I}_0 + \sum_{i=1}^n \frac{\mbox{FCF}_i}{(1+r)^i} |
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\mbox{PI} = \frac{1}{ \mbox{I}_0 } \cdot \sum_{i=1}^n \frac{\mbox{FCF}_i}{(1+r)^i} |
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Free Cash Flow (FCF) for each year is defined as (the year index "I" is omitted): |
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with the following breakdown: |
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Priceincome = Taxmining · Pricemarket |
COGS = mF↑ · CF↑ + qO↑ · CO + qG↑ · CG↑ + qW↑ · CW + qW↓ · CW↓ |
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\mbox{COGS}_i = \mbox{q}_{L,i}^{\uparrow}\ \cdot \ \mbox{COST/qL} + \mbox{q}_{O,i}^{\uparrow} \ \cdot \ \mbox{COST/qO}+ \mbox{q}_{G,i}^{\uparrow} \ \cdot \ \mbox{COST/qG} + \mbox{q}_{W,i}^{\uparrow} \ \cdot \ \mbox{COST/qW} + \mbox{q}_{WI,i}^{\downarrow} \ \cdot \ \mbox{COST/qWI} |
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\mbox{FCF}_i = \left( \mbox{REV}_i - \mbox{COST_i} \right) \cdot \left( 1 - \mbox{TAX}_{\mbox{income}} \right) |
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\mbox{REV}_i = \mbox{q}_i \cdot \mbox{INCOME_PRICE} |
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\mbox{INCOME_PRICE} = \mbox{MARKET_PRICE} \cdot \left( 1 - \mbox{MINING_TAX} \right) |
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\mbox{COST}_i = \mbox{COGS}_i + \mbox{OPEX}_i |
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\mbox{COGS}_i = \mbox{q}_{L,i}^{\uparrow}\ \cdot \ \mbox{COST/qL} + \mbox{q}_{O,i}^{\uparrow} \ \cdot \ \mbox{COST/qO}+ \mbox{q}_{G,i}^{\uparrow} \ \cdot \ \mbox{COST/qG} + \mbox{q}_{W,i}^{\uparrow} \ \cdot \ \mbox{COST/qW} + \mbox{q}_{WI,i}^{\downarrow} \ \cdot \ \mbox{COST/qWI} |
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See also
Petroleum Industry / Upstream / Production / Field Development Plan
[ Petroleum Asset NPV ][ Petroleum Asset PI ]
Reference
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