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Appendix A: Offshore Crude Oil and Natural Gax Value of Output Estimates
| Year | Production Volume (cubic metres)1 | Production Volume (mcf)2 | Price US$/mcf3 | CDN$/US$4 | Export value CDN $5 | Toll $/mcf6 | Pipeline toll $7 | Netback to SOEP $8 |
|---|---|---|---|---|---|---|---|---|
| 2000 | 3,597,144 | 127,033,137 | 4.50 | 1.49 | 851,757,187 | 1.2 | 152,439,765 | 699,317,422 |
| 2001 | 5,375,353 | 189,828,778 | 4.47 | 1.60 | 1,357,655,422 | 1.2 | 227,794,534 | 1,129,860,888 |
| 2002 | 5,474,993 | 193,347,514 | 3.49 | 1.57 | 1,059,409,033 | 1.2 | 232,017,017 | 827,392,016 |
| 2003 | 4,665,769 | 164,770,062 | 5.85 | 1.40 | 1,349,466,811 | 1.2 | 197,724,075 | 1,151,742,736 |
| 2004 | 4,327,897 | 152,838,235 | 6.44 | 1.30 | 1,279,561,705 | 1.2 | 183,405,882 | 1,096,155,823 |
| 2005 | 4,225,762 | 149,231,375 | 9.40 | 1.21 | 1,697,357,655 | 1.2 | 179,077,650 | 1,518,280,005 |
| 2006 | 3,794,706 | 134,008,769 | 7.73 | 1.13 | 1,174,696,744 | 1.2 | 160,810,522 | 1,013,886,222 |
| 2007 | 4,403,030 | 155,493,001 | 7.57 | 1.08 | 1,265,363,168 | 1.2 | 186,591,601 | 1,078,771,567 |
| 2008 | 4,636,880 | 163,751,413 | 9.50 | 1.07 | 1,658,310,564 | 1.2 | 196,501,696 | 1,461,808,868 |
1. CNSOPB annual production volume. http://www.cnsopb.ns.ca/production.php
2. Converted to mcf (thousand cubic feet) @ 1 mcf = 0.02831685 m3
3. US Energy Information Agency, based on price of natural gas via pipeline to Calais (2008 preliminary). http://tonto.eia.doe.gov/dnav/ng/ng_move_poe1_a_EPG0_PRP_DpMcf_a.htm
4. Average annual exchange rate (Bank of Canada). http://www.bankofcanada.ca/en/rates/exchange_avg_pdf.html
5. Value of production in CDN $
6. Toll on Maritimes & Northeast Pipeline
7. Toll cost/year
8. Netback to SOEP used as driver for I-O model
| Production (millions of barrels)1 | Price US$/bbl2 | Revenue US$ (millions)3 | Exchange rate CDN$/US$4 | Revenue CDN$ (millions)5 | ||||
|---|---|---|---|---|---|---|---|---|
| Hibernia | Terra Nova | White Rose | Total | |||||
| 1997 | 1 | 0 | 0 | 1 | 19 | 24 | 1.38 | 33 |
| 1998 | 24 | 0 | 0 | 24 | 13 | 304 | 1.48 | 449 |
| 1999 | 36 | 0 | 0 | 36 | 18 | 651 | 1.49 | 967 |
| 2000 | 53 | 0 | 0 | 53 | 29 | 1,513 | 1.49 | 2,247 |
| 2001 | 54 | 0 | 0 | 54 | 24 | 1,328 | 1.55 | 2,056 |
| 2002 | 66 | 38 | 0 | 104 | 25 | 2,600 | 1.57 | 4,082 |
| 2003 | 74 | 49 | 0 | 123 | 29 | 3,567 | 1.40 | 4,994 |
| 2004 | 75 | 40 | 0 | 115 | 38 | 4,370 | 1.30 | 5,681 |
| 2005 | 73 | 35 | 3 | 111 | 55 | 6,105 | 1.21 | 7,387 |
| 2006 | 68 | 12 | 30 | 110 | 65 | 7,150 | 1.13 | 8,108 |
1. CNLOPB annual production volume. http://www.cnlopb.nl.ca/stat_rm.shtml
2. Price based on Brent spot price, FOB Whiffen Head, Newfoundland and Labrador. http://tonto.eia.doe.gov/dnav/pet/hist/rbrteA.htm
3. Value of production in US$.
4. Average annual exchange rate (Bank of Canada). http://www.bankofcanada.ca/en/rates/exchange_avg_pdf.html
5. Revenue in Canadian dollars used as driver for I-O model
