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INPUT DECK ECHO
---------------
1 BASE CASE CFPM OIL PRICE $28.00
2 2 0 1 0
3 122.0 200.0 80000.0 100000.0 0.0
4 795.191 279.5 0. 0. 399.0
5 1.2 1.05 1.0 3.0 0.6 39.0 0.0
6 0.16 75.0 59.0 0.68 0.0 0.0 0.0
7 0 0 .05 1.3 0.
8 0.29 0.38 0.8 0.2 2.0 2.0
9 2900.0 20.0 0.0 0.3 0.65
10 BASE CAE CFPM OIL PRICE $28.00
11 40 35 0 2 0 1 0 0 1 0 1 0
12 0.8 0.8 0 0
13 0 0 0 0 0 0
14 0 0 0
15 0.1 0 0 0 0 0 10.0 0
16 0.0 0 0 1985.0 0.0
17 0 0 0 0 0 0 0 0
18 0 0 0
19 17*50.0 4.0 22*0.0
20 22.4 28.0 33.6
21 0.0 0.0 0.0
22 0.0 0.0 0.0
23 0.0 0.0 0.0
24 0.0 0.0 0.0
25 0.0 0.0 0.0
26 0.0 0.0 0.0
27 END ******************************************
* *
* SCIENTIFIC SOFTWARE-INTERCOMP *
* CHEMICAL FLOOD PREDICTIVE MODEL *
* (CFPM - RELEASE 3.2) *
* (AUGUST, 1986) *
******************************************
BASE CASE CFPM OIL PRICE $28.00
CASE CONTROLS
-------------
ECONOMIC ANALYSIS CONTROL ........... 2 IECON
CAUSTIC OPTION (ON IF .GE. 1 ) ...... 0 ICAUST
NPC OIL RECOVERY OPTION(ON IF .EQ. 1) 0 NPC
LITHOLOGY (1=SS, 2=CARBONATE) ....... 1 ILIT
FORMATION PROPERITIES
---------------------
FORMATION DEPTH ..................... 2900.0 FEET
FORMATION TEMPERATURE ............... 122.0 DEG.F
MAX SCREEN TEMPERATURE .............. 200.0 DEG.F
FORMATION SALINITY .................. 80000.0 PPM TDS
MAX SCREEN SALINITY ................. 100000.0 PPM TDS
ORIGINAL OIL IN PLACE ............... 795.191 MMSTB
CUMULATIVE OIL PROD. AT FLOOD START.. 279.500 MMSTB
FORMATION POROSITY .................. 0.1600 FRACTION
FORMATION PERMEABILITY .............. 75.0 MD
FORMATION NET PAY ................... 59.0 FEET
DYKSTRA-PARSONS COEFFICIENT ......... 0.6800 VDP
WT FRACTION CLAY .................... 0.100 FRACTION
FORMATION KV/KH RATIO ............... 0.00000 KV/KH
CROSSFLOW MIXING FACTOR ............. 0.025 RL
INITIAL CONDITIONS
------------------
FRACTION BOTTOM WATER ............... 0.0000 FRACTION
FRACTION GAS CAP .................... 0.0000 FRACTION
OIL GRAVITY ......................... 39.0 DEG API
SOLUTION GAS-OIL RATIO .............. 399.0 SCF/STB
INITIAL OIL FORMATION VOL FACTOR .... 1.200 RB/STB
FLOOD OIL FORMATION VOL FACTOR ...... 1.050 RB/STB
FLOOD WATER FORMATION VOL FACTOR .... 1.000 RB/STB
OIL VISCOSITY AT RESVR COND ......... 3.000 CP
WTR VISCOSITY AT RESVR COND ......... 0.600 CP
ROCK DENSITY ........................ 2.680 G/ML
SURF DENSITY ........................ 1.000 G/ML
SURF CONCENTRATION IN SLUG .......... 0.0500 VOL FR
DIMENSIONLESS SURF SLUG SIZE ........ 1.300 VPS/DS
LARGE VPS/DS CORE FLOOD RECOVERY .... 0.0000 EDIN
RELATIVE PERM CURVES
--------------------
IRREDUCIBLE WATER SATURATION ........ 0.290 SWC
RESIDUAL OIL SATN AFTER WATER ....... 0.380 SORW
OIL RELATIVE PERM AT SWC ............ 0.800 KORO
WATER RELATIVE PERM AT SORW ......... 0.200 KORW
OIL RELATIVE PERM EXPONENT .......... 2.00 XNO
WATER RELATIVE PERM EXPONENT ........ 2.00 XNW
RELATIVE PERMEABILITY TABLE
---------------------------
WATER OIL WATER FRACTION DERIV
SATURATN KRO KRW WATER DFW/DSW
-------- -------- -------- -------- --------
0.2000 1.0000 0.0000 0.0000 0.000
0.2250 1.0000 0.0000 0.0000 0.000
0.2500 1.0000 0.0000 0.0000 0.000
0.2750 0.8744 0.0000 0.0000 0.000
0.3000 0.7522 0.0002 0.0012 0.251
0.3250 0.6393 0.0022 0.0173 1.086
0.3500 0.5355 0.0066 0.0581 2.231
0.3750 0.4410 0.0133 0.1308 3.603
0.4000 0.3556 0.0222 0.2381 4.947
0.4250 0.2793 0.0335 0.3747 5.874
0.4500 0.2123 0.0470 0.5255 6.050
0.4750 0.1545 0.0629 0.6705 5.436
0.5000 0.1058 0.0810 0.7929 4.301
0.5250 0.0663 0.1014 0.8844 3.023
0.5500 0.0360 0.1242 0.9452 1.879
0.5750 0.0149 0.1492 0.9804 0.987
0.6000 0.0029 0.1765 0.9967 0.352
0.6250 0.0000 0.2061 1.0000 0.000
0.6500 0.0000 0.2380 1.0000 0.000
0.6750 0.0000 0.2722 1.0000 0.000
0.7000 0.0000 0.3087 1.0000 0.000 RECOVERY EFFICIENCY SUMMARY
---------------------------
FIELD CAPILLARY NUMBER .............. 5.82E-04
DISPLACEMENT EFFICIENCY ............. 0.5212 ED
CROSSFLOW NUMBER .................... 0.025 RL
SURFACTANT RETENTION, PV ............ 0.0929 DS
DIMENSIONLESS SURF SLUG SIZE ........ 1.3000 VPS/DS
SURF (OR CAUSTIC) SLUG SIZE, PV ..... 0.1207 VPS
PORE VOLUME MOBILITY BUFFER (POLY) .. 0.650 VPMB
DYKSTRA-PARSONS COEFFICIENT ......... 0.680 VDP
EFFECTIVE MOBILITY RATIO ............ 7.146 EFF
FLOW CAPACITY OF LAYER M ............ 0.781 FM
STORAGE CAPACITY OF LAYER M ......... 0.333 CM
VERTICAL SWEEP EFFICIENCY ........... 0.6176 EV
MOBILITY BUFFER (POLY) SWEEP EFFIC .. 0.5609 EMB
CROSSFLOW PERFORMANCE FACTOR ........ 1.0000 FCF
TERTIARY OIL RECOVERY EFFICIENCY .... 0.1806 ER
INJECTION/PRODUCTION SUMMARY
----------------------------
PATTERN SURFACTANT SLUG VOLUME ...... 176.8 MBBL
INITIAL POLYMER CONCENTRATION ....... 908.6 PPM
PATTERN POLYMER REQUIREMENT ......... 143.7 MLB
DIMENSIONLESS SURF VELOCITY ......... 1.098 VELS
DIMENSIONLESS OIL BANK VELOCITY ..... 2.745 VOB
OIL BREAKTHROUGH PORE VOLUME ........ 0.051 TDOBT
PEAK RATE PORE VOLUME ............... 0.127 TDS
SWEEP OUT PORE VOLUME ............... 0.879 TDSW
OIL BREAKTHROUGH TIME ............... 0.379 YEAR
PEAK RATE TIME ...................... 0.947 YEAR
TOTAL PATTERN LIFE .................. 6.534 YEAR
FRACTIONAL FLOW OF OIL AT PEAK ...... 0.166 FOPK
INJECTIVITY COEFFICIENT ............. 0.300 PSI/FT
STEADY STATE PATTERN RATE ........... 540.04 RB/D
OIL RATE AT PEAK .................... 85.21 STB/D
WATER SATURATION IN BANK ............ 0.4650 SWB
WATER FRACTIONAL FLOW IN BANK ....... 0.6124 FWB
PATTERN SPACING ..................... 20.00 ACRE
TOTAL DEVELOPED AREA ................ 17078.72 ACRE
NUMBER OF EFFECTIVE PATTERNS ........ 853.94
PATTERN FLOODABLE PORE VOLUME ....... 1.4647 MMRB
PATTERN TARGET OIL .................. 0.5301 MMSTB
STARTING OIL SATURATION ............. 0.3800 SORW
PROJECT FLOODABLE PORE VOLUME ....... 1250.769 MMRB
PROJECT TARGET OIL (TO) ............. 452.659 MMSTB
TOTAL OIL RECOVERY (ER*TO) .......... 81.741 MMSTB
PATTERN PRODUCTION REPORT
-------------------------
TIME OIL RATE GAS RATE WATR RATE CUM OIL CUM GAS CUM WATER
YEARS B/D MSCF/D B/D MBBL MMSCF MBBL
----- -------- -------- --------- -------- -------- ---------
1 0.25 0.0 0.0 540.0 0.0 0.0 0.0
2 0.50 18.2 7.2 521.0 0.0 0.0 49.3
3 0.75 55.6 22.2 481.6 1.7 0.7 96.8
4 1.00 84.4 33.7 451.4 6.7 2.7 140.8
5 1.25 80.6 32.2 455.4 14.4 5.8 182.0
6 1.50 76.8 30.6 459.4 21.8 8.7 223.5
7 1.75 73.0 29.1 463.4 28.8 11.5 265.4
8 2.00 69.2 27.6 467.4 35.5 14.1 307.7
9 2.25 65.3 26.1 471.4 41.8 16.7 350.4
10 2.50 61.5 24.5 475.4 47.7 19.0 393.4
11 2.75 57.7 23.0 479.4 53.3 21.3 436.8
12 3.00 53.9 21.5 483.4 58.6 23.4 480.5
13 3.25 50.1 20.0 487.4 63.5 25.3 524.6
14 3.50 46.3 18.5 491.5 68.1 27.2 569.1
15 3.75 42.5 16.9 495.5 72.3 28.9 614.0
16 4.00 38.7 15.4 499.5 76.2 30.4 659.2
17 4.25 34.8 13.9 503.5 79.7 31.8 704.8
18 4.50 31.0 12.4 507.5 82.9 33.1 750.7
19 4.75 27.2 10.9 511.5 85.7 34.2 797.0
20 5.00 23.4 9.3 515.5 88.2 35.2 843.7
21 5.25 19.6 7.8 519.5 90.4 36.1 890.7
22 5.50 15.8 6.3 523.5 92.1 36.8 938.1
23 5.75 12.0 4.8 527.5 93.6 37.3 985.9
24 6.00 8.1 3.3 531.5 94.7 37.8 1034.0
25 6.25 4.3 1.7 535.5 95.4 38.1 1082.5
26 6.50 0.5 0.2 539.5 95.8 38.2 1131.4
27 6.53 0.0 0.0 540.0 95.9 38.2 1180.6 ******************************************
* *
* SCIENTIFIC SOFTWARE-INTERCOMP *
* CHEMICAL FLOOD PREDICTIVE MODEL *
* (CFPM - RELEASE 3.2) *
* (AUGUST, 1986) *
******************************************
BASE CAE CFPM OIL PRICE $28.00
ECONOMIC DATA
-------------
NUMBER OF PROJECT YEARS ............. 40
STATE CODE .......................... OK
DISTRICT CODE ....................... 0
INTERMEDIATE PRINT CONTROL .......... 2
FEDERAL INCOME TAX OPTION ........... 0
DISCOUNTING METHOD .................. 1
SECONDARY OIL DECLINE CURVE ......... 0
PROJECT ECONOMIC LIFE METHOD ........ 1
RESERVOIR DEPTH ..................... 2900.0 FEET
INJECTORS DRILLED PER PATTERN (WPP1). 0.80
PRODUCERS DRILLED PER PATTERN (WPP2). 0.80
CONVTD PRIMARY PROD PER PAT (WPP3)... 0.00
CONVTD PROD TO INJ PER PAT (WPP4).... 0.00
NO. OF MONTHS WORKING CAPITAL ....... 0.00
PROJECT STARTUP COSTS ............... 0.0 M$
OIL RATE UNCERTAINTY ................ 0.0010 FRACTION
COST TO DRILL INJECTOR............... 124867. $/WELL
COST TO EQUIP PRODUCER............... 66212. $/WELL
COST TO UPGRADE TO SECONDARY PRODUCER 0. $/WELL
COST TO CONVERT PROD TO INJ.......... 0. $/WELL
COST TO UPGRADE TO SECONDARY OPERATIO 0. $/WELL
PERCENT OF CAPITAL BORROWED.......... 0 PERCENT
TAXES AND ESCALATION
--------------------
DISCOUNT RATE ....................... 0.100 FRACTION
INFLATION RATE ...................... 0.000 FRACTION
ROYALTY RATE ........................ 0.000 FRACTION
SEVERANCE TAX RATE .................. 0.000 FRACTION
FEDERAL INCOME TAX RATE ............. 0.000 FRACTION
INVESTMENT TAX CREDIT ............... 0.000 FRACTION
DEPRECIATION TIME (STRAIGHT LINE) ... 10.00 YEARS
STATE INCOME TAX RATE ............... 0.000 FRACTION
WINDFALL EXCISE TAX RATE ............ 0.000 FRACTION
WINDFALL PHASE OUT START DATE ....... 1991.
WINDFALL PHASE OUT END DATE ......... 1993.
PROJECT START DATE .................. 1985.
BASE OIL PRICE FOR WINDFALL TAX ..... 23.07 $/BBL
OIL PRICE ESCALATION RATE ........... 0.000 FRACTION
GAS PRICE ESCALATION RATE ........... 0.000 FRACTION
CHEMICAL PRICE ESCALATION RATE ...... 0.000 FRACTION
OPERATING COST ESCALATION RATE ...... 0.000 FRACTION
CHEM HANDLING ESCALATION RATE ....... 0.000 FRACTION
PRICES AND COSTS LOW MOST-LIKELY HIGH
---------------- ------- ----------- --------
OIL PRICE ........................... $/BBL 22.26 27.83 33.39
GAS PRICE ........................... $/MSCF 3.73 4.67 5.60
SURFACTANT SLUG PRICE ............... $/BBL 5.37 6.71 8.05
POLYMER PRICE ....................... $/LB 1.25 1.56 1.87
FIXED OPERATING COST PER PATTERN .... $/YR 17901. 22377. 26852.
VARIABLE OPERATING COST ............. $/BBL 0.395 0.493 0.592
CHEMICAL HANDLING COST .............. $/BBL 0.079 0.099 0.118
WELL WORKOVER COST PER PATTERN ...... $/YR 5704.
PROD WATER TREATING/DISPOSAL COST ... $/BBL 0.030
ANNUAL PATTERN AND PROJECT VOLUMES PRODUCED, AND BBLS SURFACTANT SLUG INJECTED - MOST LIKELY
---------------------------------------------------------------------------------------------
PATTERN LIFE IS 6 YEARS
-------------- PATTERN --------------- PATTERNS PATTERNS -------------------- PROJECT ------------------------------
YEAR OIL,MB GAS,MMCF WATER,MB SURF,MB INITIATD TOTAL OIL,MB GAS,MMCF WATER,MB SURF,MB SEC.OIL,MB REL.OIL,MB
---- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- -------- --------
1 6.7 2.7 140.8 176.8 50.0 50.0 336.7 134.3 7038.3 8841.0 0.0 0.0
2 28.7 11.5 167.0 0.0 50.0 100.0 1772.7 707.3 15386.3 8841.0 0.0 0.0
3 23.2 9.2 172.8 0.0 50.0 150.0 2930.4 1169.2 24026.5 8841.0 0.0 0.0
4 17.6 7.0 178.6 0.0 50.0 200.0 3809.8 1520.1 32959.0 8841.0 0.0 0.0
5 12.0 4.8 184.5 0.0 50.0 250.0 4410.8 1759.9 42183.7 8841.0 0.0 0.0
6 6.5 2.6 190.3 0.0 50.0 300.0 4733.5 1888.7 51700.6 8841.0 0.0 0.0
7 1.2 0.5 146.6 0.0 50.0 300.0 4733.5 1888.7 51700.6 8841.0 0.0 0.0
8 0.0 0.0 0.0 0.0 50.0 300.0 4733.5 1888.7 51700.6 8841.0 0.0 0.0
9 0.0 0.0 0.0 0.0 50.0 300.0 4733.5 1888.7 51700.6 8841.0 0.0 0.0
10 0.0 0.0 0.0 0.0 50.0 300.0 4733.5 1888.7 51700.6 8841.0 0.0 0.0
11 0.0 0.0 0.0 0.0 50.0 300.0 4733.5 1888.7 51700.6 8841.0 0.0 0.0
12 0.0 0.0 0.0 0.0 50.0 300.0 4733.5 1888.7 51700.6 8841.0 0.0 0.0
13 0.0 0.0 0.0 0.0 50.0 300.0 4733.5 1888.7 51700.6 8841.0 0.0 0.0
14 0.0 0.0 0.0 0.0 50.0 300.0 4733.5 1888.7 51700.6 8841.0 0.0 0.0
15 0.0 0.0 0.0 0.0 50.0 300.0 4733.5 1888.7 51700.6 8841.0 0.0 0.0
16 0.0 0.0 0.0 0.0 50.0 300.0 4733.5 1888.7 51700.6 8841.0 0.0 0.0
17 0.0 0.0 0.0 0.0 50.0 300.0 4733.5 1888.7 51700.6 8841.0 0.0 0.0
18 0.0 0.0 0.0 0.0 4.0 254.0 4423.7 1765.1 45225.4 707.3 0.0 0.0
19 0.0 0.0 0.0 0.0 0.0 204.0 3075.6 1227.2 36982.2 0.0 0.0 0.0
20 0.0 0.0 0.0 0.0 0.0 154.0 1895.7 756.4 28365.4 0.0 0.0 0.0
21 0.0 0.0 0.0 0.0 0.0 104.0 994.1 396.6 19456.3 0.0 0.0 0.0
22 0.0 0.0 0.0 0.0 0.0 54.0 370.8 147.9 10254.9 0.0 0.0 0.0
23 0.0 0.0 0.0 0.0 0.0 4.0 25.8 10.3 761.4 0.0 0.0 0.0
24 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
25 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
26 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
27 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
28 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
29 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
30 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
31 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
32 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
33 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
34 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
35 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
36 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
37 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
38 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
39 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
40 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 MAJOR PROJECT COSTS
-------------------
CAPITAL FOR CHEMICAL HANDLING ....... 3384.5 M$
CAPACITY OF CHEMICAL PLANT .......... 8.8 MMB/YR
CAPITAL FOR WATER INJ PLANT ......... 0.0 M$
CAPACITY OF WATER INJ PLANT ......... 44.7 MMB/YR
PROJECT CAPITAL AND CHEMICAL (SURF+POLYMER) SCHEDULE - MOST LIKELY
-------------------------------------------------------------------
--- PATTERN $ --- PATTERNS SURF PURCHASD CHEMICAL --- PROJECT M$ ---
YEAR TANGIBLE INTANGBL INITIATD SLUG,MB POLY,MLB COST, M$ TANGIBLE INTANGBL
---- -------- -------- -------- -------- -------- -------- -------- --------
1 14832. 237925. 50.0 8841.0 115.5 62072. 4121. 11815.
2 0. 0. 50.0 8841.0 2844.5 66438. 737. 11815.
3 0. 0. 50.0 8841.0 4911.8 69746. 737. 11815.
4 0. 0. 50.0 8841.0 6317.7 71996. 737. 11815.
5 0. 0. 50.0 8841.0 7061.9 73186. 737. 11815.
6 0. 0. 50.0 8841.0 7186.0 73385. 737. 11815.
7 0. 0. 50.0 8841.0 7186.0 73385. 737. 11815.
8 0. 0. 50.0 8841.0 7186.0 73385. 737. 11815.
9 0. 0. 50.0 8841.0 7186.0 73385. 737. 11815.
10 0. 0. 50.0 8841.0 7186.0 73385. 737. 11815.
11 0. 0. 50.0 8841.0 7186.0 73385. 737. 11815.
12 0. 0. 50.0 8841.0 7186.0 73385. 737. 11815.
13 0. 0. 50.0 8841.0 7186.0 73385. 737. 11815.
14 0. 0. 50.0 8841.0 7186.0 73385. 737. 11815.
15 0. 0. 50.0 8841.0 7186.0 73385. 737. 11815.
16 0. 0. 50.0 8841.0 7186.0 73385. 737. 11815.
17 0. 0. 50.0 8841.0 7186.0 73385. 737. 11815.
18 0. 0. 4.0 707.3 7079.7 16278. 59. 945.
19 0. 0. 0.0 0.0 4559.8 7296. 0. 0.
20 0. 0. 0.0 0.0 2439.5 3903. 0. 0.
21 0. 0. 0.0 0.0 980.8 1569. 0. 0.
22 0. 0. 0.0 0.0 183.6 294. 0. 0.
23 0. 0. 0.0 0.0 9.9 16. 0. 0.
24 0. 0. 0.0 0.0 0.0 0. 0. 0.
25 0. 0. 0.0 0.0 0.0 0. 0. 0.
26 0. 0. 0.0 0.0 0.0 0. 0. 0.
27 0. 0. 0.0 0.0 0.0 0. 0. 0.
28 0. 0. 0.0 0.0 0.0 0. 0. 0.
29 0. 0. 0.0 0.0 0.0 0. 0. 0.
30 0. 0. 0.0 0.0 0.0 0. 0. 0.
31 0. 0. 0.0 0.0 0.0 0. 0. 0.
32 0. 0. 0.0 0.0 0.0 0. 0. 0.
33 0. 0. 0.0 0.0 0.0 0. 0. 0.
34 0. 0. 0.0 0.0 0.0 0. 0. 0.
35 0. 0. 0.0 0.0 0.0 0. 0. 0.
36 0. 0. 0.0 0.0 0.0 0. 0. 0.
37 0. 0. 0.0 0.0 0.0 0. 0. 0.
38 0. 0. 0.0 0.0 0.0 0. 0. 0.
39 0. 0. 0.0 0.0 0.0 0. 0. 0.
40 0. 0. 0.0 0.0 0.0 0. 0. 0. PROJECT MEAN VALUES - ESCALATED
-------------------------------
OIL GAS POLYMER TANGIBLE INTANGBL FIXED VARIABLE CHEM WELL WATER
PRICE PRICE PRICE CAPITAL CAPITAL OPN COST OPN COST HANDLING WORKOVER TREATING
YEAR $/BBL $/MCF $/LB M$/YR M$/YR M$/YR $/BBL $/LB M$/YR $/BBL
---- -------- -------- -------- -------- -------- -------- -------- -------- -------- --------
1 27.83 4.67 1.56 4039. 11579. 1119. 0.493 0.099 285. 0.030
2 27.83 4.67 1.56 722. 11579. 2238. 0.493 0.099 570. 0.030
3 27.83 4.67 1.56 722. 11579. 3356. 0.493 0.099 856. 0.030
4 27.83 4.67 1.56 722. 11579. 4475. 0.493 0.099 1141. 0.030
5 27.83 4.67 1.56 722. 11579. 5594. 0.493 0.099 1426. 0.030
6 27.83 4.67 1.56 722. 11579. 6713. 0.493 0.099 1711. 0.030
7 27.83 4.67 1.56 722. 11579. 6713. 0.493 0.099 1711. 0.030
8 27.83 4.67 1.56 722. 11579. 6713. 0.493 0.099 1711. 0.030
9 27.83 4.67 1.56 722. 11579. 6713. 0.493 0.099 1711. 0.030
10 27.83 4.67 1.56 722. 11579. 6713. 0.493 0.099 1711. 0.030
11 27.83 4.67 1.56 722. 11579. 6713. 0.493 0.099 1711. 0.030
12 27.83 4.67 1.56 722. 11579. 6713. 0.493 0.099 1711. 0.030
13 27.83 4.67 1.56 722. 11579. 6713. 0.493 0.099 1711. 0.030
14 27.83 4.67 1.56 722. 11579. 6713. 0.493 0.099 1711. 0.030
15 27.83 4.67 1.56 722. 11579. 6713. 0.493 0.099 1711. 0.030
16 27.83 4.67 1.56 722. 11579. 6713. 0.493 0.099 1711. 0.030
17 27.83 4.67 1.56 722. 11579. 6713. 0.493 0.099 1711. 0.030
18 27.83 4.67 1.56 58. 926. 5684. 0.493 0.099 1449. 0.030
19 27.83 4.67 1.56 0. 0. 4565. 0.493 0.099 1164. 0.030
20 27.83 4.67 1.56 0. 0. 3446. 0.493 0.099 878. 0.030
21 27.83 4.67 1.56 0. 0. 2327. 0.493 0.099 593. 0.030
22 27.83 4.67 1.56 0. 0. 1208. 0.493 0.099 308. 0.030
23 27.83 4.67 1.56 0. 0. 90. 0.493 0.099 23. 0.030
24 27.83 4.67 1.56 0. 0. 0. 0.493 0.099 0. 0.030
25 27.83 4.67 1.56 0. 0. 0. 0.493 0.099 0. 0.030
26 27.83 4.67 1.56 0. 0. 0. 0.493 0.099 0. 0.030
27 27.83 4.67 1.56 0. 0. 0. 0.493 0.099 0. 0.030
28 27.83 4.67 1.56 0. 0. 0. 0.493 0.099 0. 0.030
29 27.83 4.67 1.56 0. 0. 0. 0.493 0.099 0. 0.030
30 27.83 4.67 1.56 0. 0. 0. 0.493 0.099 0. 0.030
31 27.83 4.67 1.56 0. 0. 0. 0.493 0.099 0. 0.030
32 27.83 4.67 1.56 0. 0. 0. 0.493 0.099 0. 0.030
33 27.83 4.67 1.56 0. 0. 0. 0.493 0.099 0. 0.030
34 27.83 4.67 1.56 0. 0. 0. 0.493 0.099 0. 0.030
35 27.83 4.67 1.56 0. 0. 0. 0.493 0.099 0. 0.030
36 27.83 4.67 1.56 0. 0. 0. 0.493 0.099 0. 0.030
37 27.83 4.67 1.56 0. 0. 0. 0.493 0.099 0. 0.030
38 27.83 4.67 1.56 0. 0. 0. 0.493 0.099 0. 0.030
39 27.83 4.67 1.56 0. 0. 0. 0.493 0.099 0. 0.030
40 27.83 4.67 1.56 0. 0. 0. 0.493 0.099 0. 0.030
DCFROR ITERATION
----------------
OLD DCFAT NEW
ITR RATE $MM RATE DCFATP
--- ---- ----- ---- ------
1 1.1000 135.79 1.1570-2382.0374
2 1.1570 47.66 1.1954-1242.9923
3 1.1954 14.24 1.2124 -837.2276
4 1.2124 3.34 1.2171 -709.2981
5 1.2171 0.65 1.2180 -678.0812
6 1.2180 0.12 1.2182 -671.9157
7 1.2182 0.02 1.2182 -670.7881
ECONOMIC ANALYSIS OF A CHEM FLOODING PROJECT
--------------------------------------------
UNDISCOUNTED MEAN VALUES
------------------------ 1 2 3 4 5 6 7 8 9 10
YEAR ENDING ............................ 1985. 1986. 1987. 1988. 1989. 1990. 1991. 1992. 1993. 1994.
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
ANNUAL OIL PRODUCTION, MBBL ............ 336.71 1772.73 2930.42 3809.78 4410.80 4733.49 4733.49 4733.49 4733.49 4733.49
ANNUAL GAS PRODUCTION, MMSCF ........... 134.35 707.32 1169.24 1520.10 1759.91 1888.66 1888.66 1888.66 1888.66 1888.66
ANNUAL WATER PRODUCTION, MBBL .......... 7038. 15386. 24026. 32959. 42184. 51701. 51701. 51701. 51701. 51701.
ANNUAL SURFACTANT SLUG, MBBL .......... 8841. 8841. 8841. 8841. 8841. 8841. 8841. 8841. 8841. 8841.
ANNUAL POLYMER INJECTED, MLB ........... 116. 2844. 4912. 6318. 7062. 7186. 7186. 7186. 7186. 7186.
OIL PRODUCTION RATE, BBL/D ............. 923. 4857. 8029. 10438. 12084. 12968. 12968. 12968. 12968. 12968.
GAS PRODUCTION RATE, MSCF/D ............ 368. 1938. 3203. 4165. 4822. 5174. 5174. 5174. 5174. 5174.
WATER PRODUCTION RATE, BBL/D ........... 19283. 42154. 65826. 90299. 115572. 141646. 141646. 141646. 141646. 141646.
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
NET OIL SOLD (LESS ROYALTY), MBBL ...... 336.71 1772.73 2930.42 3809.78 4410.80 4733.49 4733.49 4733.49 4733.49 4733.49
NET GAS SOLD (LESS ROYALTY), MMSCF ..... 134.35 707.32 1169.24 1520.10 1759.91 1888.66 1888.66 1888.66 1888.66 1888.66
MEAN PRICE OF OIL, $/BBL ............... 27.83 27.83 27.83 27.83 27.83 27.83 27.83 27.83 27.83 27.83
MEAN PRICE OF GAS, $/MSCF .............. 4.67 4.67 4.67 4.67 4.67 4.67 4.67 4.67 4.67 4.67
ANNUAL GROSS OIL SALES, MM$ ............ 9.37 49.33 81.55 106.02 122.74 131.72 131.72 131.72 131.72 131.72
ANNUAL GROSS GAS SALES, MM$ ............ 0.63 3.30 5.46 7.09 8.21 8.81 8.81 8.81 8.81 8.81
ANNUAL TOTAL GROSS SALES, MM$ .......... 10.00 52.63 87.00 113.11 130.95 140.53 140.53 140.53 140.53 140.53
ANNUAL ROYALTY, MM$ ................... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL NET SALES, MM$ .................. 10.00 52.63 87.00 113.11 130.95 140.53 140.53 140.53 140.53 140.53
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
ANNUAL SEVERANCE TAX, MM$ ............. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL FIXED OPERATING COST, MM$ ...... 1.12 2.24 3.36 4.48 5.59 6.71 6.71 6.71 6.71 6.71
ANNUAL VARIABLE OPERATING COST, MM$ .... 0.17 0.87 1.45 1.88 2.18 2.34 2.34 2.34 2.34 2.34
ANNUAL CHEMICAL PURCHASE COST, MM$ ..... 59.51 63.76 66.98 69.17 70.33 70.52 70.52 70.52 70.52 70.52
ANNUAL CHEMICAL HANDLING COST, MM$ ..... 0.90 1.86 2.81 3.77 4.73 5.21 5.21 5.21 5.21 5.21
ANNUAL WELL WORKOVER COST, MM$ ......... 0.29 0.57 0.86 1.14 1.43 1.71 1.71 1.71 1.71 1.71
ANNUAL PROD WATER TREATING COST, MM$ ... 0.21 0.46 0.72 0.99 1.27 1.55 1.55 1.55 1.55 1.55
ANNUAL OVERHEAD, MM$ ................... 1.22 1.81 2.45 3.07 3.65 4.12 4.12 4.12 4.12 4.12
ANNUAL TOTAL OPERATING COST, MM$ ...... 63.40 71.57 78.63 84.50 89.18 92.17 92.17 92.17 92.17 92.17
ANNUAL NET OPERATING INCOME, MM$ ...... -53.40 -18.94 8.38 28.61 41.77 48.37 48.37 48.37 48.37 48.37
CUM NET OPERATING INCOME, MM$ ......... -53.40 -72.34 -63.97 -35.36 6.42 54.78 103.15 151.52 199.88 248.25
ANNUAL WORKING CAPITAL, MM$ ............ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL TANGIBLE CAPITAL, MM$ ........... 4.04 0.72 0.72 0.72 0.72 0.72 0.72 0.72 0.72 0.72
ANNUAL INTANGIBLE CAPITAL, MM$ ......... 11.58 11.58 11.58 11.58 11.58 11.58 11.58 11.58 11.58 11.58
CUM CASH FLOW BEFORE TAXES, MM$ ........ -69.02 -100.26 -104.19 -87.88 -58.40 -22.34 13.73 49.79 85.86 121.93
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
BASE PRICE OF OIL FOR WPT, $/BBL ....... 23.07 23.53 24.00 24.48 24.97 25.47 25.98 26.50 27.03 27.57
ANNUAL WINDFALL PRICE DIFF, $/BBL ...... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL NET INCOME LIMIT PRICE, $/BBL ... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
RELEASED OIL REVENUES, MM$ ............. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL WINDFALL EXCISE TAX, MM$ ....... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL STATE INCOME TAX, MM$ .......... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL INTANGIBLES AND DEPR, MM$ ...... 11.98 12.06 12.13 12.20 12.27 12.34 12.42 12.49 12.56 12.63
ANNUAL INVESTMENT TAX CREDIT, MM$ ...... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL NET TAXABLE INCOME, MM$ ........ -65.39 -31.00 -3.75 16.41 29.50 36.02 35.95 35.88 35.81 35.73
ANNUAL FEDERAL INCOME TAX, MM$ ........ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL AFTER TAX CASH FLOW, MM$ ....... -69.02 -31.24 -3.93 16.31 29.47 36.07 36.07 36.07 36.07 36.07
CUM CASH FLOW AFTER TAXES, MM$ ......... -69.02 -100.26 -104.19 -87.88 -58.40 -22.34 13.73 49.79 85.86 121.93
ECONOMIC ANALYSIS OF A CHEM FLOODING PROJECT
--------------------------------------------
UNDISCOUNTED MEAN VALUES
------------------------ 11 12 13 14 15 16 17 18 19 20
YEAR ENDING ............................ 1995. 1996. 1997. 1998. 1999. 2000. 2001. 2002. 2003. 2004.
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
ANNUAL OIL PRODUCTION, MBBL ............ 4733.49 4733.49 4733.49 4733.49 4733.49 4733.49 4733.49 4423.71 3075.64 1895.68
ANNUAL GAS PRODUCTION, MMSCF ........... 1888.66 1888.66 1888.66 1888.66 1888.66 1888.66 1888.66 1765.06 1227.18 756.38
ANNUAL WATER PRODUCTION, MBBL .......... 51701. 51701. 51701. 51701. 51701. 51701. 51701. 45225. 36982. 28365.
ANNUAL SURFACTANT SLUG, MBBL .......... 8841. 8841. 8841. 8841. 8841. 8841. 8841. 707. 0. 0.
ANNUAL POLYMER INJECTED, MLB ........... 7186. 7186. 7186. 7186. 7186. 7186. 7186. 7080. 4560. 2440.
OIL PRODUCTION RATE, BBL/D ............. 12968. 12968. 12968. 12968. 12968. 12968. 12968. 12120. 8426. 5194.
GAS PRODUCTION RATE, MSCF/D ............ 5174. 5174. 5174. 5174. 5174. 5174. 5174. 4836. 3362. 2072.
WATER PRODUCTION RATE, BBL/D ........... 141646. 141646. 141646. 141646. 141646. 141646. 141646. 123905. 101321. 77713.
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
NET OIL SOLD (LESS ROYALTY), MBBL ...... 4733.49 4733.49 4733.49 4733.49 4733.49 4733.49 4733.49 4423.71 3075.64 1895.68
NET GAS SOLD (LESS ROYALTY), MMSCF ..... 1888.66 1888.66 1888.66 1888.66 1888.66 1888.66 1888.66 1765.06 1227.18 756.38
MEAN PRICE OF OIL, $/BBL ............... 27.83 27.83 27.83 27.83 27.83 27.83 27.83 27.83 27.83 27.83
MEAN PRICE OF GAS, $/MSCF .............. 4.67 4.67 4.67 4.67 4.67 4.67 4.67 4.67 4.67 4.67
ANNUAL GROSS OIL SALES, MM$ ............ 131.72 131.72 131.72 131.72 131.72 131.72 131.72 123.10 85.59 52.75
ANNUAL GROSS GAS SALES, MM$ ............ 8.81 8.81 8.81 8.81 8.81 8.81 8.81 8.24 5.73 3.53
ANNUAL TOTAL GROSS SALES, MM$ .......... 140.53 140.53 140.53 140.53 140.53 140.53 140.53 131.34 91.31 56.28
ANNUAL ROYALTY, MM$ ................... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL NET SALES, MM$ .................. 140.53 140.53 140.53 140.53 140.53 140.53 140.53 131.34 91.31 56.28
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
ANNUAL SEVERANCE TAX, MM$ ............. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL FIXED OPERATING COST, MM$ ...... 6.71 6.71 6.71 6.71 6.71 6.71 6.71 5.68 4.56 3.45
ANNUAL VARIABLE OPERATING COST, MM$ .... 2.34 2.34 2.34 2.34 2.34 2.34 2.34 2.18 1.52 0.94
ANNUAL CHEMICAL PURCHASE COST, MM$ ..... 70.52 70.52 70.52 70.52 70.52 70.52 70.52 15.78 7.11 3.80
ANNUAL CHEMICAL HANDLING COST, MM$ ..... 5.21 5.21 5.21 5.21 5.21 5.21 5.21 4.39 3.43 2.48
ANNUAL WELL WORKOVER COST, MM$ ......... 1.71 1.71 1.71 1.71 1.71 1.71 1.71 1.45 1.16 0.88
ANNUAL PROD WATER TREATING COST, MM$ ... 1.55 1.55 1.55 1.55 1.55 1.55 1.55 1.36 1.11 0.85
ANNUAL OVERHEAD, MM$ ................... 4.12 4.12 4.12 4.12 4.12 4.12 4.12 3.06 2.36 1.72
ANNUAL TOTAL OPERATING COST, MM$ ...... 92.17 92.17 92.17 92.17 92.17 92.17 92.17 33.90 21.25 14.10
ANNUAL NET OPERATING INCOME, MM$ ...... 48.37 48.37 48.37 48.37 48.37 48.37 48.37 97.44 70.06 42.18
CUM NET OPERATING INCOME, MM$ ......... 296.62 344.98 393.35 441.72 490.08 538.45 586.82 684.25 754.31 796.49
ANNUAL WORKING CAPITAL, MM$ ............ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL TANGIBLE CAPITAL, MM$ ........... 0.72 0.72 0.72 0.72 0.72 0.72 0.72 0.06 0.00 0.00
ANNUAL INTANGIBLE CAPITAL, MM$ ......... 11.58 11.58 11.58 11.58 11.58 11.58 11.58 0.93 0.00 0.00
CUM CASH FLOW BEFORE TAXES, MM$ ........ 157.99 194.06 230.12 266.19 302.25 338.32 374.39 470.84 540.90 583.07
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
BASE PRICE OF OIL FOR WPT, $/BBL ....... 28.12 28.68 29.26 29.84 30.44 31.05 31.67 32.30 32.95 33.61
ANNUAL WINDFALL PRICE DIFF, $/BBL ...... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL NET INCOME LIMIT PRICE, $/BBL ... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
RELEASED OIL REVENUES, MM$ ............. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL WINDFALL EXCISE TAX, MM$ ....... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL STATE INCOME TAX, MM$ .......... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL INTANGIBLES AND DEPR, MM$ ...... 12.30 12.30 12.30 12.30 12.30 12.30 12.30 1.58 0.58 0.51
ANNUAL INVESTMENT TAX CREDIT, MM$ ...... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL NET TAXABLE INCOME, MM$ ........ 36.07 36.07 36.07 36.07 36.07 36.07 36.07 95.85 69.48 41.67
ANNUAL FEDERAL INCOME TAX, MM$ ........ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL AFTER TAX CASH FLOW, MM$ ....... 36.07 36.07 36.07 36.07 36.07 36.07 36.07 96.45 70.06 42.18
CUM CASH FLOW AFTER TAXES, MM$ ......... 157.99 194.06 230.12 266.19 302.25 338.32 374.39 470.84 540.90 583.07
ECONOMIC ANALYSIS OF A CHEM FLOODING PROJECT
--------------------------------------------
UNDISCOUNTED MEAN VALUES
------------------------ 21 22 23 24 25 26 27 28 29 30
YEAR ENDING ............................ 2005. 2006. 2007. 2008. 2009. 2010. 2011. 2012. 2013. 2014.
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
ANNUAL OIL PRODUCTION, MBBL ............ 994.06 370.77 25.82 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL GAS PRODUCTION, MMSCF ........... 396.63 147.94 10.30 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL WATER PRODUCTION, MBBL .......... 19456. 10255. 761. 0. 0. 0. 0. 0. 0. 0.
ANNUAL SURFACTANT SLUG, MBBL .......... 0. 0. 0. 0. 0. 0. 0. 0. 0. 0.
ANNUAL POLYMER INJECTED, MLB ........... 981. 184. 10. 0. 0. 0. 0. 0. 0. 0.
OIL PRODUCTION RATE, BBL/D ............. 2723. 1016. 71. 0. 0. 0. 0. 0. 0. 0.
GAS PRODUCTION RATE, MSCF/D ............ 1087. 405. 28. 0. 0. 0. 0. 0. 0. 0.
WATER PRODUCTION RATE, BBL/D ........... 53305. 28096. 2086. 0. 0. 0. 0. 0. 0. 0.
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
NET OIL SOLD (LESS ROYALTY), MBBL ...... 994.06 370.77 25.82 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NET GAS SOLD (LESS ROYALTY), MMSCF ..... 396.63 147.94 10.30 0.00 0.00 0.00 0.00 0.00 0.00 0.00
MEAN PRICE OF OIL, $/BBL ............... 27.83 27.83 27.83 27.83 27.83 27.83 27.83 27.83 27.83 27.83
MEAN PRICE OF GAS, $/MSCF .............. 4.67 4.67 4.67 4.67 4.67 4.67 4.67 4.67 4.67 4.67
ANNUAL GROSS OIL SALES, MM$ ............ 27.66 10.32 0.72 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL GROSS GAS SALES, MM$ ............ 1.85 0.69 0.05 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL TOTAL GROSS SALES, MM$ .......... 29.51 11.01 0.77 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL ROYALTY, MM$ ................... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL NET SALES, MM$ .................. 29.51 11.01 0.77 0.00 0.00 0.00 0.00 0.00 0.00 0.00
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
ANNUAL SEVERANCE TAX, MM$ ............. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL FIXED OPERATING COST, MM$ ...... 2.33 1.21 0.09 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL VARIABLE OPERATING COST, MM$ .... 0.49 0.18 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL CHEMICAL PURCHASE COST, MM$ ..... 1.53 0.29 0.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL CHEMICAL HANDLING COST, MM$ ..... 1.52 0.56 0.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL WELL WORKOVER COST, MM$ ......... 0.59 0.31 0.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL PROD WATER TREATING COST, MM$ ... 0.58 0.31 0.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL OVERHEAD, MM$ ................... 1.10 0.51 0.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL TOTAL OPERATING COST, MM$ ...... 8.14 3.36 0.24 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL NET OPERATING INCOME, MM$ ...... 21.37 7.65 0.53 0.00 0.00 0.00 0.00 0.00 0.00 0.00
CUM NET OPERATING INCOME, MM$ ......... 817.86 825.51 826.03 826.03 826.03 826.03 826.03 826.03 826.03 826.03
ANNUAL WORKING CAPITAL, MM$ ............ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL TANGIBLE CAPITAL, MM$ ........... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL INTANGIBLE CAPITAL, MM$ ......... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
CUM CASH FLOW BEFORE TAXES, MM$ ........ 604.45 612.09 612.62 612.62 612.62 612.62 612.62 612.62 612.62 612.62
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
BASE PRICE OF OIL FOR WPT, $/BBL ....... 34.28 34.97 35.67 36.38 37.11 37.85 38.61 39.38 40.17 40.97
ANNUAL WINDFALL PRICE DIFF, $/BBL ...... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL NET INCOME LIMIT PRICE, $/BBL ... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
RELEASED OIL REVENUES, MM$ ............. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL WINDFALL EXCISE TAX, MM$ ....... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL STATE INCOME TAX, MM$ .......... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL INTANGIBLES AND DEPR, MM$ ...... 0.44 0.37 0.29 0.22 0.15 0.08 0.01 0.00 0.00 0.00
ANNUAL INVESTMENT TAX CREDIT, MM$ ...... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL NET TAXABLE INCOME, MM$ ........ 20.93 7.28 0.23 -0.22 -0.15 -0.08 -0.01 0.00 0.00 0.00
ANNUAL FEDERAL INCOME TAX, MM$ ........ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL AFTER TAX CASH FLOW, MM$ ....... 21.37 7.65 0.53 0.00 0.00 0.00 0.00 0.00 0.00 0.00
CUM CASH FLOW AFTER TAXES, MM$ ......... 604.45 612.09 612.62 612.62 612.62 612.62 612.62 612.62 612.62 612.62
ECONOMIC ANALYSIS OF A CHEM FLOODING PROJECT
--------------------------------------------
UNDISCOUNTED MEAN VALUES
------------------------ 31 32 33 34 35 36 37 38 39 40
YEAR ENDING ............................ 2015. 2016. 2017. 2018. 2019. 2020. 2021. 2022. 2023. 2024.
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
ANNUAL OIL PRODUCTION, MBBL ............ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL GAS PRODUCTION, MMSCF ........... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL WATER PRODUCTION, MBBL .......... 0. 0. 0. 0. 0. 0. 0. 0. 0. 0.
ANNUAL SURFACTANT SLUG, MBBL .......... 0. 0. 0. 0. 0. 0. 0. 0. 0. 0.
ANNUAL POLYMER INJECTED, MLB ........... 0. 0. 0. 0. 0. 0. 0. 0. 0. 0.
OIL PRODUCTION RATE, BBL/D ............. 0. 0. 0. 0. 0. 0. 0. 0. 0. 0.
GAS PRODUCTION RATE, MSCF/D ............ 0. 0. 0. 0. 0. 0. 0. 0. 0. 0.
WATER PRODUCTION RATE, BBL/D ........... 0. 0. 0. 0. 0. 0. 0. 0. 0. 0.
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
NET OIL SOLD (LESS ROYALTY), MBBL ...... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NET GAS SOLD (LESS ROYALTY), MMSCF ..... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
MEAN PRICE OF OIL, $/BBL ............... 27.83 27.83 27.83 27.83 27.83 27.83 27.83 27.83 27.83 27.83
MEAN PRICE OF GAS, $/MSCF .............. 4.67 4.67 4.67 4.67 4.67 4.67 4.67 4.67 4.67 4.67
ANNUAL GROSS OIL SALES, MM$ ............ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL GROSS GAS SALES, MM$ ............ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL TOTAL GROSS SALES, MM$ .......... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL ROYALTY, MM$ ................... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL NET SALES, MM$ .................. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
ANNUAL SEVERANCE TAX, MM$ ............. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL FIXED OPERATING COST, MM$ ...... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL VARIABLE OPERATING COST, MM$ .... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL CHEMICAL PURCHASE COST, MM$ ..... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL CHEMICAL HANDLING COST, MM$ ..... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL WELL WORKOVER COST, MM$ ......... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL PROD WATER TREATING COST, MM$ ... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL OVERHEAD, MM$ ................... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL TOTAL OPERATING COST, MM$ ...... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL NET OPERATING INCOME, MM$ ...... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
CUM NET OPERATING INCOME, MM$ ......... 826.03 826.03 826.03 826.03 826.03 826.03 826.03 826.03 826.03 826.03
ANNUAL WORKING CAPITAL, MM$ ............ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL TANGIBLE CAPITAL, MM$ ........... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL INTANGIBLE CAPITAL, MM$ ......... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
CUM CASH FLOW BEFORE TAXES, MM$ ........ 612.62 612.62 612.62 612.62 612.62 612.62 612.62 612.62 612.62 612.62
------ ------ ------ ------ ------ ------ ------ ------ ------ ------
BASE PRICE OF OIL FOR WPT, $/BBL ....... 41.79 42.62 43.48 44.35 45.23 46.14 47.06 48.00 48.96 49.94
ANNUAL WINDFALL PRICE DIFF, $/BBL ...... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL NET INCOME LIMIT PRICE, $/BBL ... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
RELEASED OIL REVENUES, MM$ ............. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL WINDFALL EXCISE TAX, MM$ ....... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL STATE INCOME TAX, MM$ .......... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL INTANGIBLES AND DEPR, MM$ ...... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL INVESTMENT TAX CREDIT, MM$ ...... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL NET TAXABLE INCOME, MM$ ........ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL FEDERAL INCOME TAX, MM$ ........ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ANNUAL AFTER TAX CASH FLOW, MM$ ....... 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
CUM CASH FLOW AFTER TAXES, MM$ ......... 612.62 612.62 612.62 612.62 612.62 612.62 612.62 612.62 612.62 612.62
UNDISCOUNTED MEAN RESULTS
-------------------------
PROJECT ECONOMIC LIFE .................. 23.0 YEARS
TOTAL GROSS SALES ...................... 2400.315 MM$
TOTAL NET SALES ........................ 2400.315 MM$
TOTAL SEVERANCE TAX .................... 0.000 MM$
TOTAL FIXED OPERATING COST ............. 114.658 MM$
TOTAL VARIABLE OPERATING COST .......... 39.885 MM$
TOTAL CHEMICAL PURCHASE COST ........... 1204.535 MM$
TOTAL CHEMICAL HANDLING COST ........... 89.048 MM$
TOTAL WELL WORKOVER COST ............... 29.230 MM$
TOTAL PROD WATER TREATING COST ......... 26.491 MM$
TOTAL OVERHEAD ......................... 70.434 MM$
TOTAL OPERATING COST ................... 1574.281 MM$
TOTAL WORKING CAPITAL .................. 0.000 MM$
TOTAL TANGIBLE CAPITAL ................. 15.645 MM$
TOTAL INTANGIBLE CAPITAL ............... 197.769 MM$
TOTAL CAPITAL INVESTMENT ............... 213.415 MM$
TOTAL DEBT INTEREST EXPENSE ............ 0.000 MM$
TOTAL PROJECT EXPENSE .................. 1787.696 MM$
TOTAL CASH FLOW BEFORE TAX ............. 612.620 MM$
TOTAL WINDFALL PROFITS TAX ............. 0.000 MM$
TOTAL STATE INCOME TAX ................. 0.000 MM$
TOTAL FEDERAL INCOME TAX ............... 0.000 MM$
TOTAL AFTER TAX CASH FLOW .............. 612.620 MM$
TOTAL LOAN AMOUNT ...................... 0.000 MM$
ECONOMIC ANALYSIS OF A CHEMICAL FLOODING PROJECT
------------------------------------------------
PRESNT MEAN VALUE CASH FLOW
VALUE BEFORE TAX (MM$) AFTER TAX (MM$)
YEAR FACTOR ANNUAL CONST $ DISCNTD ANNUAL CONST $ DISCNTD
---- ------ ------ ------- ------- ------ ------- -------
1 1985. 0.9535 -69.02 -69.02 -65.81 -69.02 -69.02 -65.81
2 1986. 0.8668 -100.26 -100.26 -92.89 -100.26 -100.26 -92.89
3 1987. 0.7880 -104.19 -104.19 -95.98 -104.19 -104.19 -95.98
4 1988. 0.7164 -87.88 -87.88 -84.30 -87.88 -87.88 -84.30
5 1989. 0.6512 -58.40 -58.40 -65.10 -58.40 -58.40 -65.10
6 1990. 0.5920 -22.34 -22.34 -43.75 -22.34 -22.34 -43.75
7 1991. 0.5382 13.73 13.73 -24.34 13.73 13.73 -24.34
8 1992. 0.4893 49.79 49.79 -6.69 49.79 49.79 -6.69
9 1993. 0.4448 85.86 85.86 9.35 85.86 85.86 9.35
10 1994. 0.4044 121.93 121.93 23.93 121.93 121.93 23.93
11 1995. 0.3676 157.99 157.99 37.19 157.99 157.99 37.19
12 1996. 0.3342 194.06 194.06 49.24 194.06 194.06 49.24
13 1997. 0.3038 230.12 230.12 60.20 230.12 230.12 60.20
14 1998. 0.2762 266.19 266.19 70.16 266.19 266.19 70.16
15 1999. 0.2511 302.25 302.25 79.21 302.25 302.25 79.21
16 2000. 0.2283 338.32 338.32 87.45 338.32 338.32 87.45
17 2001. 0.2075 374.39 374.39 94.93 374.39 374.39 94.93
18 2002. 0.1886 470.84 470.84 113.12 470.84 470.84 113.12
19 2003. 0.1715 540.90 540.90 125.14 540.90 540.90 125.14
20 2004. 0.1559 583.07 583.07 131.71 583.07 583.07 131.71
21 2005. 0.1417 604.45 604.45 134.74 604.45 604.45 134.74
22 2006. 0.1288 612.09 612.09 135.73 612.09 612.09 135.73
23 2007. 0.1171 612.62 612.62 135.79 612.62 612.62 135.79 ******************************************
* *
* SCIENTIFIC SOFTWARE-INTERCOMP *
* CHEMICAL FLOOD PREDICTIVE MODEL *
* (CFPM - RELEASE 3.2) *
* (AUGUST, 1986) *
******************************************
BASE CAE CFPM OIL PRICE $28.00
PRODUCTION SUMMARY
------------------
PROJECT ECONOMIC LIFE .................. 23.0 YEARS
CUMULATIVE GROSS OIL SOLD .............. 80848. MBBL
CUMULATIVE GROSS GAS SOLD .............. 32258. MMSCF
CUMULATIVE SURFACTANT SLUG VOLUME ...... 151005. MBBL
CUMULATIVE POLYMER PURCHASED ........... 122736. MLB
CUMULATIVE OIL/SURF SLUG RATIO ......... 0.54 BBL/BBL
CUMULATIVE NET OIL SOLD ................ 80848. MBBL
PRESENT VALUE OF NET OIL SOLD .......... 32621. MBBL
MEAN RESULTS
------------
PRESENT VALUE OF TOTAL GROSS SALES ..... 968.498 MM$
PRESENT VALUE OF TOTAL NET SALES ....... 968.498 MM$
TOTAL SEVERANCE TAX (PV) ............... 0.000 MM$
TOTAL FIXED OPERATING COST (PV) ........ 45.176 MM$
TOTAL VARIABLE OPERATING COST (PV) ..... 16.093 MM$
TOTAL CHEMICAL PURCHASED COST (PV) ..... 578.103 MM$
TOTAL CHEMICAL HANDLING COST (PV) ...... 35.695 MM$
TOTAL WELL WORKOVER COST (PV) .......... 11.517 MM$
TOTAL PROD WATER TREATING COST (PV) .... 10.288 MM$
TOTAL OVERHEAD (PV) .................... 29.001 MM$
TOTAL OPERATING COST (PV) .............. 725.872 MM$
TOTAL WORKING CAPITAL (PV) ............. 0.000 MM$
TOTAL TANGIBLE CAPITAL INVESTED (PV) ... 9.246 MM$
TOTAL INTANGIBLE CAPITAL (PV) .......... 97.590 MM$
TOTAL CAPITAL INVESTMENT (PV) .......... 106.836 MM$
TOTAL INTEREST EXPENSE (PV) ............ 0.000 MM$
TOTAL PROJECT EXPENSE (PV) ............. 832.708 MM$
DISCOUNTED COST PER DISC NET OIL ....... 25.527 $/BBL
DISCOUNTED CASH FLOW BEFORE TAX ........ 135.790 MM$
PROJECT PROFITABILITY (AFTER TAX)
---------------------
AVERAGE MONETARY DISCOUNT RATE ......... 10.00 PCNT
90 PCNT CONFIDENCE DCF ................. -33.003 MM$
MEAN DISCOUNTED CASH FLOW .............. 135.790 MM$
10 PCNT CONFIDENCE DCF ................. 333.638 MM$
STANDARD DEVIATION OF THE MEAN DCF ..... 138.355 MM$
PAYOUT BASED ON AFTER TAX MEAN DCF ..... 8.42 YEARS
MEAN DCF PROFIT TO INVESTMENT RATIO .... 1.271 P/I
MEAN DCF PROFIT TO EXPENSE RATIO ....... 0.163 P/E
MEAN DCF PROFIT PER DISC NET OIL ....... 4.163 $/BBL
MEAN INVESTMENT EFFICIENCY.............. 2.161
MEAN DCF RATE OF RETURN ................ 21.82 PCNT