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(CA600) - Determination of the considerations in kind for production sharing contract RF-C072-2018-040

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Mexican Petroleum Fund
Determination of considerations in kind for production sharing contract RF-C072-2018-040 \1\2\3

Period Sep‑23 Oct‑23 Nov‑23 Dec‑23 Jan‑24 Feb‑24
a. Contractual Value of Hydrocarbons\4 Dollars 11,038,098 10,274,660 8,551,176 7,930,026 7,353,660 7,740,415
b. Additional revenues from infrastructure shared use\5 Dollars 0 0 0 0 0 0
Step 1. Cash equivalent considerations\6 c. Base Royalty\7 Dollars 878,927 770,599 641,338 594,752 551,525 580,531
d.Costs recovery \8 d.1. Costs reported Recognized d.1.1. Operational expenditure Dollars 399,173 1,448,841 1,869,052 1,372,972 3,721,646 2,115,155
d.1.2. Capital expenditure Dollars 241,661 207,394 475,639 817,412 1,103,367 257,177
Not recognized d.1.3. Operational expenditure Dollars 0 0 0 0 0 0
d.1.4. Capital expenditure Dollars 0 0 0 0 0 0
d.2. Remaining recognized costs at the end of the previous period \9 d.2.1. Operational expenditure Dollars 0 0 0 0 0 0
d.2.2. Capital expenditure Dollars 36,746,081 29,660,246 24,124,219 20,483,087 17,122,453 16,799,903
d.3. Total recognized costs\10 d.3.1. Operational expenditure (d.1.1+d.2.1) Dollars 399,173 1,448,841 1,869,052 1,372,972 3,721,646 2,115,155
d.3.2. Capital expenditure (d.1.2+d.2.2) Dollars 36,987,742 29,867,639 24,599,858 21,300,499 18,225,820 17,057,080
d.4. Costs recovery d.4.2. Limit of cost recovery ((a+b)*d.4.1)\11 Dollars 7,726,669 7,192,262 5,985,823 5,551,018 5,147,562 5,418,291
d.4.3. Operational expenditure min(d.4.2, d.3.1) Dollars 399,173 1,448,841 1,869,052 1,372,972 3,721,646 2,115,155
d.4.4. Capital expenditure min((d.4.2-d.4.3),d.3.2) Dollars 7,327,496 5,743,421 4,116,771 4,178,046 1,425,916 3,303,135
d.4.5. Total (d.4.3+d.4.4) Dollars 7,726,669 7,192,262 5,985,823 5,551,018 5,147,562 5,418,291
e. Operational Profit e.1.Total Operational Profit (a+b-c.2-d.4.5) Dollars 2,432,503 2,311,798 1,924,015 1,784,256 1,654,574 1,741,593
e.2. Has the Adjustment Mechanism been activated in this contract? (Yes=1, No=0) \12 0 0 0 0 0 0
e.3. Mexican State's Operational Profit \11 Dollars 1,002,191 952,461 792,694 735,113 681,684 717,536
e.4. Contractor's Operational Profit\12 Dollars 1,430,312 1,359,337 1,131,321 1,049,142 972,889 1,024,057
Step 2. Considerations as a percentage of the Contractual Value of Hydrocarbons with additional revenue\13 f. Granted to the Mexican State f.1. Base Royalty (c.2/(a+b)) Percentage 8 8 8 8 8 8
f.2. Operational Profit share (e.5/(a+b)) Percentage 9 9 9 9 9 9
f.3. Total\14 (f.1+f.2) Percentage 17 17 17 17 17 17
g. Granted to the contractor g.1. Cost recovery (d.4.5/(a+b)) Percentage 70 70 70 70 70 70
g.2. Operational Profit share (e.6/(a+b)) Percentage 13 13 13 13 13 13
g.3. Total\15 (g.1+g.2) Percentage 83 83 83 83 83 83
Step 3. Final distribution of hydrocarbons in-kind\16 h. Hydrocarbons that correspond to the Mexican State h.1. Oil Barrels 27,554 27,315 25,458 26,117 24,938 24,286
h.2. Condensates Barrels 0 0 0 0 0 0
h.3. Natural Gas Millions of BTU 0 0 0 0 0 0
i. Hydrocarbons that correspond to the contractor i.1. Oil Barrels 134,129 135,568 126,347 129,618 123,771 120,530
i.2. Condensates Barrels 0 0 0 0 0 0
i.3. Natural Gas Millions of BTU 0 0 0 0 0 0
Volumetric compensations \17 j. Granted to the Mexican State j.1. Oil Barrels 440 0 0 0 0 1
j.2. Condensates Barrels 0 0 0 0 0 0
j.3. Natural Gas Millions of BTU 0 0 0 0 0 0
k. Granted to the contractor k.1. Oil Barrels 0 96 366 0 0 0
k.2. Condensates Barrels 0 0 0 0 0 0
k.3. Natural Gas Millions of BTU 0 0 0 0 0 0

Source: FMP with information from contractors.
(N/E = data not available)
\1 Figures subject to review.
\2 The figures regarding costs may not match the table Investment Amounts reported by the contractor for the cost recovery of contract RF-C072-2018-040 because the ones presented herein involve the cost recognition process.
\3 For contracts awarded in the second bid of Round 1 that reported extraction trials of hydrocarbons, only steps 1 and 2 are presented. The detailed results of the calculation of considerations of said trials are available in the "Production sharing contracts" section of the FMP statistics webpage.
\4 This item is the result of multiplying the contractual volume by the contractual price of each hydrocarbon for a given period. Contractual volumes and prices can be found in the tables Volume of hydrocarbons produced, production sharing contract RF-C072-2018-040 (monthly flows) and Contractual price of hydrocarbons, production sharing contract RF-C072-2018-040 in the production-sharing contracts section of the portal herein .
\5 In accordance with Annex 3 of the contract, this refers to the revenues received by the contractor for the shared use of infrastructure or for the sale or disposal of by-products.
\6 The calculation of cash considerations is determined in accordance with the formulas described in Annex 3 of the contract. The cash calculation is used as an input to determine the in-kind considerations.
\7 This item refers to the consideration established in Article 12, Section I, Subsection b) of the Hydrocarbon Revenue Law (Ley de Ingresos sobre Hidrocarburos).
\8 This item refers to the consideration established in Article 12, Section I, Subsection a) of the Hydrocarbon Revenue Law (Ley de Ingresos sobre Hidrocarburos).
\9 It is the remaining balance of recognized investments, expenses, and costs after the cost recovery of the immediate previous month. For the case in which a contract is the result of a transition from the entitlement regime, it also includes the undepreciated and not deducted value of assets, in accordance with the applicable tax regime, as well as the value of investments in assets for exploration activities within the contractual area recognized at the time of the transition.
\10 It is the sum of the costs recognized in accordance with Annexes 3 and 4 of the contract.
\11 It is the result of multiplying the percentage of cost recovery by the sum of the contractual value of hydrocarbons plus the additional income referred to in Annex 3 of the contract.
\12 In accordance with Article 15 of the Hydrocarbon Revenue Law (Ley de Ingresos sobre Hidrocarburos) and the contract.
\13 Considerations as a percentage of the sum of the contractual value of hydrocarbons and additional income.
\14 It is the sum of the considerations to the State as a percentage of the contractual value of hydrocarbons and the additional income.
\15 It is the sum of the considerations to the contractor as a percentage of the contractual value of hydrocarbons and the additional income.
\16 The final distribution of hydrocarbons is the calculation of considerations that the Fund determines for each of the parties in accordance with the contract. It is the result of multiplying the percentage of the considerations to each of the parties by the contractual volume of each hydrocarbon. The contractual volume of hydrocarbons can be found in the table Volume of hydrocarbons produced, production sharing contract RF-C072-2018-040 (monthly flows) in the Production-sharing contracts section.
\17 It is the in-kind reconciliation instructed by the Fund to settle the difference between the volume of hydrocarbons delivered at the measurement point and the volume determined as the final distribution for that period.