Conventional Oil Production and Royalties

Prior to 2009 conventional oil production was differentiated by vintage with the following classifications Old (pools discovered prior to 1974), New (pools discovered between 1974 and 1990) and Third Tier (pools discovered after 1990).  Additionally production was broken down into Heavy and Non-heavy production.

In 2009 the vintages were eliminated and production is broken down into Light, Medium, Heavy and Ultra Heavy production.

The New Well Royalty Rate was a royalty reduction in 2009 and up until May 2011 when it became a permanent part of the royalty formula and is considered part of the gross royalty after May 1, 2011.

    For the Period 2009 and 2010

Total production (M3)

Production Year

Light

Medium

Heavy

Ultra Heavy

Total 

 2009

  13,171,249

    5,104,656     2,632,617

5,834,747

     26,743,269
 2010

12,385,826

4,517,702

2,250,713

5,258,849

24,413,090


1994-2008


Crown (M3)

Production Year 

Light 

Medium 

Heavy 

 Ultra Heavy 

Total 

 2009  12,018,795      3,235,562      1,532,756      4,105,321  20,892,434
 2010  12,275,000       3,165,242      1,416,085      4,155,979  21,012,306

1994-2008

Royalty Volume (M3)

Production Year 

Light 

    Medium 

    Heavy 

     Ultra Heavy 

Total 

2009     2,163,308     579,325     187,349         502,892     3,432,873
2010     3,011,520     776,625     262,096         767,269     4,817,510

1994-2008

Gross royalty Rates (%)

Production Year 

    Light     

        Medium 

    Heavy 

     Ultra Heavy 

        Total 

2009

18%

18%

12%

12%

16%

2010

25%

25%

19%

18%

23%

1994-2008

 Royalty Reduction Volumes (M3) 

Production Year 

Light 

    Medium 

    Heavy 

     Ultra Heavy 

    Total 

2009     272,960     18,543       2,901          36,031         330,434
2010     722,452     92,204     13,786        169,073         997,515

1994-2008

Includes Enhanced Oil recovery (EPR) and Deep Oil Program.
 

Effective Royalty Rate (%)

Production Year 

    Light     

    Medium 

    Heavy 

     Ultra Heavy 

       Total     

2009

16%

17%

12%

11%

15%

2010

19%

22%

18%

14%

18%

1994-2008

For comparison purposes the following data shows the breakdown for heavy and non-heavy oil for the 1994-2008 periods.  Heavy oil in these charts would approximately equal the heavy and ultra heavy on the previous charts, while the non-heavy would approximately equal the light and medium classifications on the previous chart.

Total production (M3)

Production Year    

    Non –Heavy    

    Heavy             Total    
 1994      46,597,118      8,933,190          55,530,307    
 1995      45,437,043    10,156,709      55,593,751
 1996      43,536,836    11,634,455      55,171,290
 1997      39,869,555    12,672,910      52,542,465
 1998      36,758,351    12,254,530      49,012,882
 1999      32,847,267    11,034,226     43,881,493
 2000      30,903,989    12,390,176     43,294,165
 2001      28,953,891    12,849,840     41,803,730
 2002      26,629,977    11,729,461     38,359,437
 2003      25,175,196    11,144,031     36,319,227
 2004      24,119,615    10,845,966     34,965,581
 2005      23,208,094      9,969,435     33,177,529
 2006      22,257,314      9,274,340     31,531,655
 2007      21,580,194      8,854,940     30,435,133
 2008      20,942,232      8,300,793     29,243,025

Crown (M3)

Production Year

    Non –Heavy        

    Heavy                 Total            
 1994      38,037,460      6,090,705      44,128,164
 1995      36,812,292     6,600,692       43,412,984
 1996      35,167,609     7,711,293       42,878,902
 1997      31,900,351     8,389,461       40,289,812 
 1998      29,464,791     7,965,210      37,430,001
 1999     26,672,587     7,278,400      33,950,987
 2000     25,083,419     8,439,945      33,523,364
 2001     23,556,492     8,740,449      32,296,941
 2002     21,726,550     8,039,800      29,766,349
 2003     20,484,614     7,809,457      28,294,071
 2004     19,621,373     7,691,444      27,312,816
 2005     18,906,894     7,069,015      25,975,909
 2006     18,263,471     6,579,329      24,842,800
 2007     17,653,933     6,325,234      23,979,166
 2008     17,048,591     6,033,009      23,081,601

Royalty Volume (M3)

Production Year

    Non –Heavy        

    Heavy                 Total            
 1994      7,712,448        973,209      8,685,656
 1995      7,562,800     1,161,818      8,724,618 
 1996      7,658,827     1,384,662      9,043,489
 1997      6,650,939     1,417,922      8,068,861
 1998      4,957,808       965,641     5,923,449
 1999     4,569,952       944,765     5,514,717
 2000     5,353,369    1,531,317     6,884,686
 2001     4,857,527    1,398,314     6,255,841
 2002     4,060,927    1,235,122     5,296,049
 2003     3,874,081    1,301,150     5,175,231
 2004     3,614,827    1,269,631     4,884,458
 2005     3,451,509    1,112,706     4,564,215
 2006     3,209,903      985,769     4,195,672
 2007     3,035,661     915,279     3,950,940
 2008     2,867,206     843,903     3,711,108

Gross royalty Rates (%)

Production Year

        Non –Heavy    

        Heavy                 Total        
 1994          20%          16%              20%
 1995          21%          18%              20%
 1996          22%          18%              21%
 1997          21%          17%              20%
 1998          17%          12%              16%
 1999          17%          13%              16%
 2000          21%          18%              21%
 2001          21%          16%              19%
 2002          19%          15%              18%
 2003          19%          17%              18%
 2004          18%          17%              18%
 2005          18%          16%              18%
 2006          18%          15%              17%
 2007          17%          14%              16%
 2008          17%          14%              16%

Royalty Reduction Volumes (M3)

Production Year

        Non –Heavy    

        Heavy                 Total        
 1994          630,012          106,319              736,331
 1995          427,304            74,838              502,141
 1996          446,145            93,382              539,527
 1997          393,042            80,602              473,645
 1998          314,968            51,772              366,740
 1999         281,576            67,457              349,034
 2000         436,934          127,671              564,604
 2001         416,565          109,043              525,608
 2002         371,962            96,602              468,564
 2003         398,736          102,040              500,776
 2004         361,565            99,736              461,300
 2005         317,341            95,313              412,655
 2006         308,463            81,210              389,673
 2007         230,912            74,423              305,335
 2008         139,886            49,158              189,044

Includes Enhanced Oil recovery (EOR), Developmental, Experimental, Exploratory,
Horizontal Oil recovery program, Low Productivity and Reactivated 1 and 2 Programs.

Effective Royalty Rate (%)

Production Year

           Non –Heavy  

        Heavy             Total            
 1994            19%

        14%

         18%
 1995            19%         16%          19%
 1996            21%         17%          20%
 1997            20%         16%          19%
 1998            16%         11%          15%
 1999            16%         12%          15%
 2000            20%         17%          19%
 2001            19%         15%          18%
 2002            17%         14%          16%
 2003            17%         15%          17%
 2004            17%         15%          16%
 2005            17%         14%          16%
 2006            16%         14%          15%
 2007            16%         13%          15%
 2008            16%         13%          15%

     Detailed Information 

Net Oil Royalty Volumes 2011Excel icon

New Royalty Framework Royalty Volumes 2011excel icon

This data does not include accruals and industry revisions of data are incorporated into the month they apply to and are not rolled into the current month as per the financial statements.

Please note:

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