Pricing Overview

This documentation extends the Base Econ Model Documentation.

Properties

priceModel

The priceModel property is an object that contains the pricing information for oil, gas, NGL, and drip condensate.

• oil
  • The oil property is an object that contains the pricing information for oil.
    • cap
      • The cap property is a number that represents the maximum allowable value for the oil price. The number must be larger than 0. Decimals are accepted. Smallest decimal accepted is 0.000001.
    • escalationModel
      • The escalationModel property is a string that represents the ID of the escalation model used for the oil price.
    • rows
      • The rows property is an array that contains objects representing the pricing information for individual rows of oil data. Each row object contains the following properties:
        • one required below:
          • price An integer with acceptable values between 100000000 and -100000000.
        • one required below:
          • entireWellLife A string that can be set to "Flat" to indicate that the pricing is valid for the entire life of the well.
          • offsetToAsOf A number that represents an offset from the as-of date for the pricing.
          • dates A string that represents the start date for the pricing.
• gas
  • The gas property is an object that contains the pricing information for gas.
    • cap
      • The cap property is a number that represents the maximum allowable value for the gas price. The number must be larger than 0. Decimals are accepted. Smallest decimal accepted is 0.000001.
    • escalationModel
      • The escalationModel property is a string that represents the ID of the escalation model used for the gas price.
    • rows
      • The rows property is an array that contains objects representing the pricing information for individual rows of gas data. Each row object contains the following properties:
      • one required below:
        • dollarPerMmbtu number with acceptable values between 100000000 and -100000000.
        • dollarPerMcf A number with acceptable values between 100000000 and -100000000.
      • one required below:
        • entireWellLife A string that can be set to "Flat" to indicate that the pricing is valid for the entire life of the well.
        • offsetToAsOf A number that represents an offset from the as-of date for the pricing.
        • dates A string that represents the start date for the pricing.
• ngl
  • The ngl property is an object that contains the pricing information for NGL.
    • cap
      • The cap property is a number that represents the maximum allowable value for the NGL price. The number must be larger than 0. Decimals are accepted. Smallest decimal accepted is 0.000001.
    • escalationModel
      • The escalationModel property is a string that represents the ID of the escalation model used for the NGL price.
    • rows
      • The rows property is an array that contains objects representing the pricing information for individual rows of NGL data. Each row object must contain exactly one property from each of the following two groups contains the following properties:
        • one required below:
          • pctOfOilPrice An integer with acceptable values between 100 and 0.
          • dollarPerBbl An integer with acceptable values between 100000000 and -100000000.
          • dollarPerGal An integer with acceptable values between 100000000 and -100000000.
        • one required below:
          • entireWellLife A string that can be set to "Flat" to indicate that the pricing is valid for the entire life of the well.
          • offsetToAsOf A number that represents an offset from the as-of date for the pricing.
          • dates A string that represents the start date for the pricing.
• dripCondensate
  • The dripCondensate property is an object that contains the pricing information for oil.
    • cap
      • The cap property is a number or string that represents the maximum allowable value for the drip condensate price. The number must be larger than 0. Decimals are accepted. Smallest decimal accepted is 0.000001. If no numerical value is assigned then it must be an empty string.
    • escalationModel
      • The escalationModel property is a string that represents the ID of the escalation model used for the oil price.
    • rows
      • The rows property is an array that contains objects representing the pricing information for individual rows of dripCondensate data. Each row object must contain exactly one property from each of the following two groups contains the following properties:
        • one required below:
          • dollarPerBbl An integer with acceptable values between 100000000 and -100000000.
          • pctOfOilPrice An integer with acceptable values between 100 and 0
        • one required below:
          • entireWellLife A string that can be set to "Flat" to indicate that the pricing is valid for the entire life of the well.
          • offsetToAsOf A number that represents an offset from the as-of date for the pricing.
          • dates A string that represents the start date for the pricing.

Documentation for Rows Validation Definitions

This JSON schema file defines a set of common definitions for validating the rows in the priceModel property of the schema.

entireWellLife

A string that is an enum with a value of "Flat".

offsetToAsOf

• Data Type: number
• value must be between 1 and 1200.

dates

• Data Type: string
• Validation Rules:
  • The value must be a date between January 1, 1900 and April 1, 2262 in the format YYYY-MM-DD.
  • each dates property must have a "01" for the days. Ex: "2020-05-01"
  • The value for each dates property in the rows array must be at minimum one month later than the previous dates property. For Example:

    "rows": [
            {
                "dates": "2020-01-01",
                "pctOfBasePrice": 1000000
            },
            {
                "dates": "2020-02-01",
                "pctOfBasePrice": 0.123456
            },
            {
                "dates": "2021-02-01",
                "pctOfBasePrice": 0
            }
    ]

EscalationModel

Specifies the escalation model for a given row.

• oneOf:
  • A string with the value "none".
  • A string with a valid Object ID in the format /^[a-f\d]{24}$/i.

Example

"priceModel": {
    "oil": {
    	"cap": 263250,
        "escalationModel": "642ecf2b670d176d851e76f0",
        "rows": [
            {
                "entireWellLife": "Flat",
                "price": 10000000
            }
        ]
    },
    "gas": {
    	"cap": 685.25,
        "escalationModel": "none",
        "rows": [
            {
                "entireWellLife": "Flat",
                "dollarPerMmbtu": 0
            }
        ]
    },
    "ngl": {
    	"cap": null,
        "escalationModel": "none",
        "rows": [
            {
                "pctOfOilPrice": 100,
                "offsetToAsOf": 5
            },
            {
                "pctOfOilPrice": 100,
                "offsetToAsOf": 5
            }
        ]
    },
    "dripCondensate": {
    	"cap": 0.000001,
        "escalationModel": "none",
        "rows": [
            {
                "dollarPerBbl": 0,
                "dates": "2023-04-01"
            },
            {
                "dollarPerBbl": 0,
                "dates": "2023-12-01"
            }
        ]
    }
}