Just Released: "Bruce Field, United Kingdom, Commercial Asset Valuation and Forecast to 2021"

Aug. 25, 2010 - PRLog -- Bruce is located in blocks 9/8a and 9/9b in the Northern North Sea at a distance of 340 kilometers from Aberdeen. Bruce is an offshore gas- condensate field discovered in 1974 by BP Exploration Operating Company Limited. Water depth of the field is around 121 meters.

The maximum thickness of the reservoir is 250m and extends over an area of 75km2. The reservoir depth below the seabed is estimated to be 4,000m with a reservoir pressure of 5,900 psi and temperature at 99degC. The longest well drilled in the field is of 6,400m deep.

BP Exploration Operating Company Limited is the operator of Bruce since its discovery and holds 37% equity stake along with BHP Billiton Petroleum Great Britain Limited (16%), Marubeni Oil & Gas (North Sea) Limited (3.75%) and Total E&P Uk Limited (43.25%).

The field reservoir contains liquid reserves with an average specific gravity of around 52deg API and sulphur content of 0.75.

Production activity in Bruce field is carried out according to the license numbers P.209, P.090 and P.276. Bruce produced 36.7 billion cubic feet of gas, 1.6 million barrels of liquids, during 2009. The cumulative production till 2009 is 2.4 trillion cubic feet of gas and 156.9 million barrels of oil. Peak production from the field was 67,000 barrels of oil per day and 760 million cubic feet of gas per day during February1995. The estimated gas/oil ratio for the field was 10,000 scf/barrel

The field life of Bruce is expected to be around 29 years with complete abandonment during 2021. The field is expected to generate $2.0billions in revenues (undiscounted) during its remaining life (starting from 01/01/2010) and is expected to yield an IRR of around 8.17%.

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

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Partial Table of Contents:

1 Table of contents 2
1.1 List of Tables 4
1.2 List of Figures 4
2 Executive Summary 5
3 Bruce, United Kingdom, Introduction 7
4 Bruce, United Kingdom, Geology and Formation 8
5 Bruce, United Kingdom, Equity Partners 9
6 Bruce, United Kingdom, Gas and Liquid Reserves 9
7 Bruce, United Kingdom, Key Fiscal Terms 10
7.1 Contract Type 10
7.2 Royalty 10
7.3 Bonuses 10
7.4 Rentals 10
7.5 Fees 10
7.6 Petroleum Revenue Tax (PRT) 10
7.7 Taxation 11
8 Bruce, United Kingdom, Infrastructure 12
8.1 Upstream Infrastructure 12
8.1.1 PUQ platform 12
8.1.2 D Platform 12
8.1.3 Compression Reception Platform 12
8.1.4 Subsea Facilities 12
8.2 Midstream Infrastructure 13
9 Bruce, United Kingdom, Development Plan, Investment and Expenditure 14
10 Bruce, United Kingdom, Crude Oil and Natural Gas Production 15
11 Bruce, United Kingdom, Economics 18
11.1 Bruce, Economic Assumptions 18
11.1.1 Forecast Commodity Prices 18
11.1.2 Inflation 18
11.1.3 Discount Rate and Representation of Cash Flows 18
11.1.4 Sensitivity 18
11.1.5 Access to the Economic Model 18
11.2 Bruce, United Kingdom, Cash Flow Analysiss 19
11.3 Bruce Field, United Kingdom, Remaining PV Sensitivity Analysis 20
11.3.1 Remaining NPV Sensitivity to Discount Rates 20
11.3.2 Remaining NPV Sensitivity to Change in Commodity Prices and Production 21
11.3.3 Remaining NPV Sensitivity to Income Tax and Production Rate 22
11.4 Bruce, United Kingdom, Summary Cash Flows 23
11.5 Bruce, United Kingdom, Front End Load Estimations 24
11.6 Bruce, United Kingdom, Tax Liability 25
12 Appendix 26
12.1 Methodology 26
12.2 Coverage 26
12.3 Secondary Research 26
12.4 Primary Research 26
12.5 E&P Forecasts 27
12.6 Capital Costs 27
12.7 Exploration and Appraisal (E&A) Costs 27
12.8 Operating Costs 27
12.9 Expert Panel Validation 28
12.10 About GlobalData
12.11 Contact Us
12.12 Disclaimer

1.1 List of Tables

Table 1: Bruce, United Kingdom, Key Valuation Metrics, Mid Year 2010 6
Table 2: Bruce, United Kingdom, Key Equity Partners 6
Table 3: Bruce, United Kingdom, Key Asset Data, 2010 7
Table 4: Bruce, United Kingdom, Field Reserves, January 2010 9

Full Table of Contents is available at:
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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.