General Options Overview
This document provides a detailed overview of general-options in an economic model. The main properties (econ functions) include mainOptions, incomeTax, discountTable, boeConversion, and reportingUnits objects in the given schema.
Example Response
{
"id": "63ebbe83e862ff0014ab043c",
"copiedFrom": null,
"name": "test options",
"tags": [],
"unique": false,
"createdBy": "6283eac6241df8001331f6a3",
"lastUpdatedBy": "6283eac6241df8001331f6a3",
"createdAt": "2023-02-14T17:01:55.947Z",
"updatedAt": "2023-06-23T21:36:54.999Z",
"mainOptions": {
"aggregationDate": "2022-08-01",
"currency": "USD",
"reportingPeriod": "calendar",
"fiscal": "",
"incomeTax": true,
"projectType": "primary_recovery"
},
"incomeTax": {
"carryForward": true,
"fifteenDepletion": true,
"federalIncomeTax": [
{
"entireWellLife": "Flat",
"multiplier": 21
}
],
"stateIncomeTax": [
{
"entireWellLife": "Flat",
"multiplier": 0
}
]
},
"discountTable": {
"discountMethod": "quarterly",
"cashAccrualTime": "end_month",
"firstDiscount": 10,
"secondDiscount": 10,
"discounts": [
{
"discountTable": 0
},
{
"discountTable": 8
},
{
"discountTable": 0
},
{
"discountTable": 0
},
{
"discountTable": 0
},
{
"discountTable": 0
},
{
"discountTable": 0
},
{
"discountTable": 0
},
{
"discountTable": 25
},
{
"discountTable": 0
},
{
"discountTable": 35
},
{
"discountTable": 0
},
{
"discountTable": 50
},
{
"discountTable": 100
},
{
"discountTable": 200
},
{
"discountTable": 100
}
]
},
"boeConversion": {
"oil": 1,
"wetGas": 6,
"dryGas": 6,
"ngl": 1,
"dripCondensate": 1
},
"reportingUnits": {
"oil": "MMBBL",
"gas": "MCF",
"ngl": "GAL",
"dripCondensate": "MMBBL",
"water": "MMBBL",
"pressure": "KPSI",
"cash": "MM$",
"gor": "MCF/BBL",
"condensateGasRatio": "BBL/MCF",
"dripCondensateYield": "BBL/MCF",
"nglYield": "GAL/MCF"
}
}
Econ Functions
-
mainOptions: (required) This object includes the following properties:aggregationDate,currency,reportingPeriod,fiscal,incomeTax, andprojectType. -
incomeTax: (optional based on what is submitted forincomeTaxinmainOptions) This object includes the following properties:carryForward,fifteenDepletion,federalIncomeTax, andstateIncomeTax. -
discountTable: (required) This object includes the following properties:discountMethod,cashAccrualTime,firstDiscount,secondDiscount, anddiscounts. -
boeConversion: (required) This object includes the following properties:oil,wetGas,dryGas,ngl, anddripCondensate. -
reportingUnits: (required) This object includes the following properties:oil,gas,ngl,dripCondensate,water,pressure,cash,gor,condensateGasRatio,dripCondensateYield, andnglYield.
mainOptions
aggregationDate: (required) a string representing a date.currency: (required) a string representing a currency type.reportingPeriod: (required) a string representing the period.fiscal: (optional) a string representing a fiscal start and end months.incomeTax: (required) a Boolean representing whether after-tax economics will be calculated.projectType: (required) a string representing the type of project.
Example mainOptions Request Body
"mainOptions": {
"aggregationDate": "2022-08-01",
"currency": "USD",
"reportingPeriod": "calendar",
"fiscal": "5-4",
"incomeTax": true,
"projectType": "deep_water"
}
incomeTax
carryForward: (required) a Boolean representing whether or not to use carry forward (NOL).fifteenDepletion: (required) a Boolean representing whether or not to use 15% depletion.federalIncomeTax: (required) an array representing federal income tax entries.stateIncomeTax: (required) an array representing state income tax entries.
federalIncomeTax
The federal income tax array accepts objects containing the following properties:
multiplier: (required): A number representing the multiplier in percentageentireWellLife,offsetToAsOf,offsetToFpd, anddates: (one required) Various criteria related to the period for afederalIncomeTaxentry object.
stateIncomeTax
The federal income tax array accepts objects containing the following properties:
multiplier: (required): A number representing the multiplier in percentageentireWellLife,offsetToAsOf,offsetToFpd, anddates: (one required) Various criteria related to the period fo astateIncomeTaxentry object.
Example incomeTax Request Body
"incomeTax": {
"carryForward": true,
"fifteenDepletion": true,
"federalIncomeTax": [
{
"entireWellLife": "Flat",
"multiplier": 21
}
],
"stateIncomeTax": [
{
"entireWellLife": "Flat",
"multiplier": 0
}
]
}
discountTable
discountMethod: (required) a string representing the period IRR.cashAccrualTime: (required) a string representing cash accrual time.firstDiscount: (required) a number representing the first discount as a percentage.secondDiscount: (required) a number representing the second discount as a percentage.discounts: (required) an array representing the discount table.
discounts
This array takes exactly 16 objects. Each object is required to have the following property:
discountTable: (required) a number representing a discount as a percentage.
Example discountTable Request Body
"discountTable": {
"discountMethod": "quarterly",
"cashAccrualTime": "end_month",
"firstDiscount": 10,
"secondDiscount": 10,
"discounts": [
{
"discountTable": 0
},
{
"discountTable": 8
},
{
"discountTable": 0
},
{
"discountTable": 0
},
{
"discountTable": 0
},
{
"discountTable": 0
},
{
"discountTable": 0
},
{
"discountTable": 0
},
{
"discountTable": 25
},
{
"discountTable": 0
},
{
"discountTable": 35
},
{
"discountTable": 0
},
{
"discountTable": 50
},
{
"discountTable": 100
},
{
"discountTable": 200
},
{
"discountTable": 100
}
]
}
boeConversion
oil: (required) a number representing the conversion of Oil in BBL/BOE.wetGas: (required) a number representing the conversion of Wet Gas in MFC/BOE.dryGas: (required) a number representing the conversion of Dry Gas in MFC/BOE.ngl: (required) a number representing the conversion of NGL in BBL/BOE.dripCondensate: (required) a number representing the conversion of Drip Condensate in BBL/BOE.
Example boeConversion Request Body
"boeConversion": {
"oil": 1,
"wetGas": 6,
"dryGas": 6,
"ngl": 1,
"dripCondensate": 1
}
reportingUnits
oil: (required) a string representing the units of Oil.gas: (required) a string representing the units of Gas.ngl: (required) a string representing the units of NGL.dripCondensate: (required) a string representing the units of Drip Condensate.water: (required) a string representing the units of Water.pressure: (required) a string representing the units of Pressure.cash: (required) a string representing the units of money.gor: (required) a string representing the units of GOR.condensateGasRatio: (required) a string representing the units of GCR.dripCondensateYield: (required) a string representing the units of Drip Condensate Yield.nglYield: (required) a string representing the units of NGL Yield.
Example reportingUnits Request Body
"reportingUnits": {
"oil": "MMBBL",
"gas": "MCF",
"ngl": "GAL",
"dripCondensate": "MMBBL",
"water": "MMBBL",
"pressure": "KPSI",
"cash": "MM$",
"gor": "MCF/BBL",
"condensateGasRatio": "BBL/MCF",
"dripCondensateYield": "BBL/MCF",
"nglYield": "GAL/MCF"
}
Definitions
aggregationDate
A string representing a date. Date to begin summing cash flows of multiple wells for the summarized monthly report (ie: Res Cat Monthly Summary) The format of the date is YYYY-MM-DD, and the date must fall between 1900-01-01 to 2262-04-01.
currency
A string representing a currency type. Currently, the only possible value is "USD".
reportingPeriod
A string representing the reporting period. Possible values are "calendar" or "fiscal".
fiscal
A string representing a fiscal start and end months as numbers, where 0 would represent January and 11 would represent December. This field is only available if reportingPeriod is set to "fiscal". Possible values are "0-11", "1-0", "2-1", "3-2", "4-3", "5-4", "6-5", "7-6", "8-7", "9-8", "10-9", or "11-10".
incomeTax
A Boolean representing whether after-tax economics will be calculated. Select true if after-tax economics will be calculated. This option enables the global application to the scenario for 15% Percentage Depletion (if used), State and Federal income tax entries. If this option is disabled, the econ run will not output AFIT columns even if selected. Possible values are true or false.
projectType
(required) a string representing the type of project. Possible values are "primary_recovery", "secondary_recovery", "tertiary_recovery", "water_flood", "co2_flood", "surfactant_flood", "polymer_flood", "sagd", "thermal", "heavy_oil", "oil_sand", or "deep_water".
fifteenDepletion
A Boolean representing whether or not to use 15% depletion. Submit true if you are an independent oil and gas company with less than 1000 BOE/D production and want to use this depletion method. ComboCurve looks at 15% of gross revenue and 50% of net revenue and uses the lesser per IRS stipulation. Then, if there is also a cost depletion model applied to a CAPEX item, ComboCurve will use the greater depletion each month either via the cost or percentage depletion methods. Possible values are true or false.
carryForward
A Boolean representing whether or not to use carry forward (NOL). The default is false to allow full deduction each year even when income is negative. true will enable Carry Forward (NOL) for future tax deductions. This does not aggregate across properties but is on a well-by-well basis so that if DD&A is left over after the final period, it will be deducted at ECL of the well. Possible values are true or false.
federalIncomeTax
An array representing federal income tax entries.
stateIncomeTax
An array representing state income tax entries.
multiplier
A number representing the multiplier in percentage. Used in both stateIncomeTax and federalIncomeTax array objects. The minimum value is 0 and the maximum value is 100. The minimum decimal precision is 0.000001.
entireWellLife
This is a string property that can only have the value "Flat". Used in both stateIncomeTax and federalIncomeTax array objects.
offsetToAsOf
This property represents a time period, defined as an integer. The possible range for this value is from 1 to 1200, inclusive. Used in both stateIncomeTax and federalIncomeTax array objects.
offsetToFpd
This property represents a time period, defined as an integer. The possible range for this value is from 1 to 1200, inclusive. Used in both stateIncomeTax and federalIncomeTax array objects.
dates
This is a string property representing a date. The format of the date is YYYY-MM-DD, and the date must fall between 1900-01-01 to 2262-04-01. For the DD portion of the date, the value must be 01. Used in both stateIncomeTax and federalIncomeTax array objects.
discountMethod
A string representing the period IRR. IRR is annualized for all values of N, but N=1 is the true annual IRR. Selecting any other N results in a "period IRR" (like monthly, annualized) which is industry accepted but relates back to the Annual IRR via this equation: (1+Period IRR)^Periods/Yr - 1). So 3% with N=12 ==> (1+.03)^12-1 = 42.58% (Where the monthly annualized IRR ==> (0.3 * 12 = 36.00%) Possible values are "yearly" (N=1), "quarterly" N = 4, "monthly" N = 12, or "daily" N = 365.
cashAccrualTime
A string representing cash accrual time. Possible values are "mid_month" or "end_month".
firstDiscount
A number representing the first discount as a percentage. The minimum value is 0 and the maximum value is 100. The minimum decimal precision is 0.000001.
secondDiscount
A number representing the second discount as a percentage. The minimum value is 0 and the maximum value is 100. The minimum decimal precision is 0.000001.
discounts
An array of objects containing discountTable fields representing the discount table.
discountTable
A number representing a discount as a percentage. The minimum value is 0 and the maximum value is 1000. The minimum decimal precision is 0.000001.
oil (boeConversion)
A number representing the conversion of Oil in BBL/BOE. The minimum value is 0.000001 and the maximum value is 2. The minimum decimal precision is 0.000001.
wetGas
A number representing the conversion of Wet Gas in MFC/BOE. The minimum value is 4 and the maximum value is 50. The minimum decimal precision is 0.000001.
dryGas
A number representing the conversion of Dry Gas in MFC/BOE. The minimum value is 4 and the maximum value is 50. The minimum decimal precision is 0.000001.
ngl(boeConversion)
A number representing the conversion of NGL in BBL/BOE. The minimum value is 0.000001 and the maximum value is 2. The minimum decimal precision is 0.000001.
dripCondensate (boeConversion)
A number representing the conversion of Drip Condensate in BBL/BOE. The minimum value is 0.000001 and the maximum value is 2. The minimum decimal precision is 0.000001.
oil (reportingUnits)
A string representing the units of Oil. Possible values are "BBL", "MBBL", or "MMBBL".
gas
A string representing the units of Gas. Possible values are "MCF", "MMCF", or "BCF".
ngl (reportingUnits)
A string representing the units of NGL. Possible values are "BBL", "MBBL", "MMBBL", "GAL", "MGAL", or "MMGAL".
dripCondensate (reportingUnits)
A string representing the units of Drip Condensate. Possible values are "BBL", "MBBL", or "MMBBL".
water
A string representing the units of Water. Possible values are "BBL", "MBBL", or "MMBBL".
pressure
A string representing the units of Pressure. Possible values are "PSI" or "KPSI".
cash
A string representing units of money. Possible values are "$", "M$", or "MM$".
gor
A string representing the units of GOR. Possible values are "CF/BBL" or "MCF/BBL".
condensateGasRatio
A string representing the units of GCR. Possible values are "BBL/MCF" or "BBL/MMCF".
dripCondensateYield
A string representing the units of Drip Condensate Yield. Possible values are "BBL/MCF" or "BBL/MMCF".
nglYield
A string representing the units of NGL Yield. Possible values are "BBL/MCF", "BBL/MMCF", "GAL/MCF", or "GAL/MMCF".