ComboCurve: Economic Validation Report (12/06/2022)

ComboCurve: Economic Validation Report (12/06/2022)

To guarantee that economic results are consistent between updates, ComboCurve generates a variance report between the current and soon-to-be-released versions.  To create this report, over 1,500 unique cases are run to evaluate all possible inputs across the economic models to ensure that there have not been any unintentional changes in the calculations.  Below is the list of changes that resulted in the variance and the summary tables associated. 


Variances

The AFIT variances are a result of the following:
  1. Depreciation now beings at the Investment Date rather than First Production Date
  2. Depreciation for the first year is now allocated to the remaining months of the year instead of all 12 months
  3. Any Depreciation remaining after the cutoff date is summed at the end of the life of the well


Table 1: Oneline Variance Report


Line Item


Variance

Gross Oil Well Head Volume (MBBL)

0%

Gross Gas Well Head Volume (MMCF)

0%

Gross Water Well Head Volume (MBBL)

0%

Gross Oil Sales Volume (MBBL)

0%

Gross Gas Sales Volume (MMCF)

0%

Gross NGL Sales Volume (MBBL)

0%

Net Oil Sales Volume (MBBL)

0%

Net Gas Sales Volume (MMCF)

0%

Net NGL Sales Volume (MBBL)

0%

Net Oil Revenue (M$)

0%

Net Gas Revenue (M$)

0%

Net NGL Revenue (M$)

0%

Total Net Revenue (M$)

0%

Total Variable Expense (M$)

0%

Total Fixed Expense (M$)

0%

Total Expense (M$)

0%

Total Severance Tax (M$)

0%

Ad Valorem Tax (M$)

0%

Total Production Tax (M$)

0%

NPI Cash Flow (M$)

0%

Net Operating Income (M$)

0%

10% Discount Net Operating Income (M$)

0%

15% Discount Net Operating Income (M$)

0%

Total Net Tangible Investment (M$)

0%

Total Net Intangible Investment (M$)

0%

Total Net Investment (M$)

0%

10% Discount Total Net CAPEX (M$)

0%

15% Discount Total Net CAPEX (M$)

0%

Total Gross Investment (M$)

0%

Before Income Tax Cash Flow (M$)

0%

10% Discount Cash Flow (M$)

0%

15% Discount Cash Flow (M$)

0%

Taxable Income (M$)

0.0023%

State Income Tax (M$)

0.0023%

Federal Income Tax (M$)

0.0023%

After Income Tax Cash Flow (M$)

-0.0005%

10% After Income Tax Discount Cash Flow (M$)

-0.0008%

15% After Income Tax Discount Cash Flow (M$)

-0.0009%


Table 2: Monthly Variance Report:


Line Item


Variance

Gross Oil Well Head Volume (MBBL)

0%

Gross Gas Well Head Volume (MMCF)

0%

Gross Water Well Head Volume (MBBL)

0%

Gross Oil Sales Volume (MBBL)

0%

Gross Gas Sales Volume (MMCF)

0%

Gross NGL Sales Volume (MBBL)

0%

Net Oil Sales Volume (MBBL)

0%

Net Gas Sales Volume (MMCF)

0%

Net NGL Sales Volume (MBBL)

0%

Realized Oil Price ($/BBL)

0%

Realized Gas Price ($/MCF)

0%

Realized NGL Price ($/BBL)

0%

Net Oil Revenue (M$)

0%

Net Gas Revenue (M$)

0%

Net NGL Revenue (M$)

0%

Total Net Revenue (M$)

0%

Total Variable Expense (M$)

0%

Total Fixed Expense (M$)

0%

Total Expense (M$)

0%

Total Severance Tax (M$)

0%

Ad Valorem Tax (M$)

0%

Total Production Tax (M$)

0%

NPI Cash Flow (M$)

0%

Net Operating Income (M$)

0%

First Discount Net Operating Income (M$)

0%

Second Discount Net Operating Income (M$)

0%

Total Net Tangible Investment (M$)

0%

Total Net Intangible Investment (M$)

0%

Total Net Investment (M$)

0%

First Discount Total Net Investment (M$)

0%

Second Discount Total Net Investment (M$)

0%

Total Gross Investment (M$)

0%

Before Income Tax Cash Flow (M$)

0%

10% Discount Cash Flow (M$)

0%

15% Discount Cash Flow (M$)

0%

Taxable Income (M$)

0.0023%

State Income Tax (M$)

0.0023%

Federal Income Tax (M$)

0.0023%

After Income Tax Cash Flow (M$)

-0.0005%

AFIT 10% Discount Cash Flow (M$)

-0.0008%

AFIT 15% Discount Cash Flow (M$)

-0.0009%





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