Magnus Field, United Kingdom, Commercial Asset Valuation and Forecast to 2020 now available at ReportsandReports

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Dallas, TX: ReportsandReports announce it will carry Magnus Field, United Kingdom, Commercial Asset Valuation and Forecast to 2020  Market Research Report in its Store.

 

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The Magnus field is located at Nigg Bay of northern North Sea that is approximately 160km north east of the Shetland Islands in the UK. The field is at 61° 37' 30 N latitude and 1° 19' 0 E longitude. Magnus is an offshore field which is at the water depth of 186m with oil reserves discovered at the subsurface depth of 2,709m. The field is operated by BP Exploration Operating Company Limited which is one of the world’s largest energy companies and operates across six continents. Magnus has been one of the high producing fields in UK since it started production of crude oil and associated natural gas in August 1983.

The field is owned by a venture that comprises four companies. BP Exploration Operating Company Limited holds the highest stake of 85% in the field. The other partners include Nippon Oil Exploration and Production UK Limited, ENI UK Limited and Marubeni Oil and Gas (North Sea) Limited.

Magnus is an oil field with small quantity of associated gas. The oil in the field has an API gravity ranging between 38°- 40° API. The crude oil is light with low sulfur (0.28%) and medium wax oil (4-6% by weight).

The production at Magnus field started in August 1983. The field has produced around 829 million barrels of crude oil and 681bcf (billion cubic feet) of natural gas until 2009. The current production (2010) of the field is estimated to be approximately 8.87 million barrels of crude oil.

The life of the field is expected to be around 36-38 years with complete abandonment by 2020. The field is expected to generate $6.09 billion in revenues (undiscounted) during its remaining life (starting January 1, 2010) and is expected to yield an IRR of approximately 17.62%.

Scope

  • The report provides detailed information on oil and gas production, infrastructure, reserves, geology, operator and equity partners and the latest fiscal terms applicable to the asset and provides its fair value (Remaining Net Present Value) based on remaining reserves, forecast production, capital and operational costs, fiscal regime and commodity prices.
  • The report also provides additional valuation parameters like Internal Rate of Return (IRR), Profitability Index (PI), Pay Back (discounted and undiscounted), Entitlement Production (EP) and Working Interest (WI) to enhance your decision making process.
  • This report provides detailed sensitivity analysis of the remaining NPV with changes in the commodity prices, discount rate, production and key fiscal terms.
  • Detailed cash flows over the life of the asset are included in the report. These cash flows cover a wide range of calculations related to various payments to the government/licensing authority.
  • Interactive Excel models can be used to derive custom valuations, sensitivities and cash flows based on the specific inputs by the user in the model. These custom inputs vary from production data, cost information, price information and fiscal terms information.

Reasons to buy

  • Make well informed investment decisions based on detailed operational analysis and cash flow forecasts
  • Estimate the fair value of your future investment under different economic and fiscal conditions
  • Value a prospective investment target through a comprehensive analysis using focused forecasting and valuation methodologies.
  • Supporting interactive excel model will enhance your decision making capability in a more rapid and time sensitive manner
  • Evaluate how the changes in the country’s fiscal policies impact the cash flows and the present value of the asset

Table of contents 2

1.1 List of Tables 3
1.2 List of Figures 3

2 Magnus Field, United Kingdom, Introduction 4

3 Magnus Field, United Kingdom, Geology and Formation 6

4 Magnus Field, United Kingdom, Equity Partners 8

5 Magnus Field, United Kingdom, Crude Oil and Natural Gas Reserves 9


6 Magnus Field, United Kingdom, Key Fiscal Terms 10
6.1 Contract Type 10
6.2 Royalty 10
6.3 Bonuses 10
6.4 Rentals 10
6.5 Fees 10
6.6 Taxation 10
6.7 Petroleum Revenue Tax (PRT) 10
6.8 Deductions 10
6.9 Capital Allowance 11
6.10 Ring Fence 11

7 Magnus Field, United Kingdom, Infrastructure 12
7.1 Upstream Infrastructure 12
7.1.1 Wells 12
7.1.2 Magnus Platform 12
7.1.3 Injections – Water 13
7.1.4 Primary Separation Processing Units 13
7.1.5 Gas Treatment Facilities 13
7.2 Midstream Infrastructure 13
7.2.1 Magnus — Oil and Gas Pipeline System 13

8 Magnus Field, United Kingdom, Development Plan, Investment and Expenditure 15

8.1 Phase One (1978-1995) 15
8.2 Phase Two – Field Extension Project (1996 onwards) 15
8.2.1 The SWIFT (Subsea Water Injection Facilities and Treatment) Project 15
8.2.2 EOR (Enhanced Oil Recovery) Project 16

9 Magnus Field, United Kingdom, Crude Oil and Natural Gas Production 17

9.1 Magnus Field, United Kingdom, Crude Oil Production 17
9.2 Magnus Field, United Kingdom, Associated Natural Gas Production 19

10 Magnus Field, United Kingdom, Field Economics 21
10.1 Magnus Field, Economic Assumptions 21
10.1.1 Forecast Commodity Prices 21
10.1.2 Inflation 21
10.1.3 Discount Rate and Representation of Cash Flows 21
10.1.4 Sensitivity 21
10.1.5 Access to the Economic Model 21
10.2 Magnus Field, Cash Flow Analysis 22
10.3 Magnus Field, United Kingdom, Remaining PV Sensitivity Analysis 23
10.3.1 Remaining NPV Sensitivity to Discount Rates 23
10.3.2 Remaining NPV Sensitivity to Change in Commodity Prices and Production 24
10.3.3 Remaining NPV Sensitivity to Income Tax and Production Rate 25

11 Magnus Field, United Kingdom, Summary Cash Flows 26
11.1 Magnus Field, United Kingdom, Front End Load Due To Fiscal Policy 27
11.2 Magnus Field, United Kingdom, Tax Liability 29

12 Appendix 31
12.1 Methodology 31
12.2 Coverage 31
12.3 Secondary Research 31
12.4 Primary Research 32
12.5 E&P Forecasts 32
12.6 Capital Costs 33
12.7 Exploration and Appraisal (E&A) Costs 33
12.8 Operating Costs 33
12.9 Expert Panel Validation 33
12.10 About GlobalData
12.11 Contact Us
12.12 Disclaimer

1.1 List of Tables

Table 1: Magnus Field, United Kingdom, Key Asset Data, 2010 4
Table 2: Magnus Field, United Kingdom, Equipments 13
Table 3: Magnus Field, United Kingdom, Indicative System Capacities 14
Table 4: Magnus Field, United Kingdom, Project Development – Phase One (1978-1995) 15
Table 5: Magnus Field, United Kingdom, Historic and Forecast Production, Crude Oil, Thousand Barrels, 1983-2020 18
Table 6: Magnus Field, United Kingdom, Historic and Forecast Production, Associated Natural Gas, Million Cubic Feet, 2007-2013 20
Table 7: Magnus Field, Commodity Price Assumptions, 2007-2027 21
Table 8: Magnus Field, United Kingdom, Project Analysis Metrics, 2010 22
Table 9: Magnus Field, United Kingdom, Remaining PV Sensitivity Analysis Over Discount Rate Vs. Commodity Price Change, in Million Dollars 23
Table 10: Magnus Field, United Kingdom, Remaining PV Sensitivity Analysis over Commodity Price Change Vs Production Rate, in Million Dollars 24
Table 11: Magnus Field, United Kingdom, Remaining PV Sensitivity Analysis at 10% Discount Rate over Income Tax Change Vs Production Rate, in Million Dollars 25
Table 12: Magnus Field, United Kingdom, Asset Summary Cash Flows, Thousand USD, 1981-2020 26
Table 13: Magnus Field, United Kingdom, Front End Load, Thousand USD, 1981-2020 28
Table 14: Magnus Field, United Kingdom, Tax Liability Estimations, Thousands USD, 2007-2027 29

1.2 List of Figures

Figure 1: Magnus Field, United Kingdom, Location Map 5
Figure 2: Magnus Field, United Kingdom, Illustrative Diagram of Geology and Formation 6
Figure 3: Magnus Field, United Kingdom, Magnus Area Stratigraphy 7
Figure 4: Magnus Field, United Kingdom, Current Equity Details, 2010 8
Figure 5: Magnus Field, United Kingdom, Infrastructure Map 12
Figure 6: Magnus Field, United Kingdom, Infrastructure – Pipeline Map 14
Figure 7: Magnus Field, United Kingdom, EOR Project 16
Figure 8: Magnus Field, United Kingdom, Historic Production and Forecast, Crude Oil, 1983- 2020 17
Figure 9: Magnus Field, United Kingdom, Historic Production and Forecast, Associated Natural Gas, 1983- 2020 19
Figure 10: Magnus Field, United Kingdom, Gross Revenue Versus Post Tax Cash Flow Analysis, 1983-2020 22
Figure 11: Magnus Field, United Kingdom, Remaining PV Sensitivity Analysis Over Discount Rate Vs. Commodity Price Change, in Million Dollars 23
Figure 12: Magnus Field, United Kingdom, Remaining PV Sensitivity Analysis over Change in Production Vs. Commodity Price Change, in Million Dollars 24
Figure 13: Magnus Field, United Kingdom, Remaining PV Sensitivity Analysis Over Income Tax Change Vs. Production Rate, in Million Dollars 25

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