Manitoba Petroleum Fiscal Regime

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Manitoba Petroleum

Fiscal Regime

January 2014

Revised May 29, 2014

Revised April 28, 2016

Manitoba Petroleum Fiscal Regime

Provincial Crown Oil & Gas Royalties

Provincial Freehold Oil & Gas Production Taxes

Drilling Incentive Program

Page

Manitoba Petroleum 1

Fiscal Regime 1

TABLE OF CONTENTS 5

TABLES 7

MANITOBA PETROLEUM FISCAL REGIME 1

INTRODUCTION 1

This publication provides a summary of Manitoba’s petroleum fiscal regime including Provincial Crown Oil Royalties and Freehold Production Oil Tax. It also outlines the Manitoba Drilling Incentive Program designed to encourage investment in the sustainable development of the Province’s petroleum resources. 1

ManItoba Mineral Resources 1

Petroleum Branch 1

360 - 1395 Ellice Avenue 1

Winnipeg, Manitoba R3G 3P2 1

Ph: (204) 945-6577 1

Fax: (204) 945-0586 1

OIL CLASSIFICATION 1

Oil produced in Manitoba is classified in one of four categories, old oil, new oil, third tier oil and holiday oil. 1

Old Oil includes 1

oil produced from a well drilled prior to April 1, 1974 that does not qualify as new oil or third tier oil. 1

New Oil includes 1

oil that is not third tier oil and is produced from a well drilled on or after April 1, 1974 and prior to April 1, 1999; 1

oil produced from an abandoned well re-entered on or after April 1, 1974 and prior to April 1, 1999; 1

oil produced from an old oil well that, in the opinion of the Director, can be reasonably attributed to an increase in reserves from an enhanced recovery project implemented after April 1, 1974 and prior to April 1, 1999; or 1

oil produced from a horizontal well. 2

oil production that is exempt from any royalty payable under the Crown Royalty and Incentives Regulation, or any tax payable under the Oil and Gas Production Tax Regulation. Note that wells drilled or receiving a marginal well major workover incentive after December 31, 2013 and prior to January 1, 2019, have a requirement to pay a minimum royalty on Crown production and a minimum tax on freehold production. 2

Provincial Crown 2

Oil Royalties 2

Provincial Freehold Oil PRODUCTION TaxES 9

Provincial Gas Royalties and Taxes 22

MANITOBA DRILLING INCENTIVE PROGRAM 23

fIGURES

Figure 1: Manitoba Crown Oil Royalty Rates (%) 3

Figure 2: Determination of Production Allocation for Horizontal Wells 8

Figure 3: Manitoba Freehold Oil Production Tax Rates (%) 10

TABLES

Table 1: Manitoba Crown Oil Royalty Determination 3

Table 2: Manitoba Crown Oil Royalty Rates (%) – Example 4

Table 3: Manitoba Freehold Oil Production Tax Rate (%) Determination 10

Table 4: Freehold Oil Production Tax Rates (%) – Example 11

MANITOBA PETROLEUM FISCAL REGIME

INTRODUCTION

This publication provides a summary of Manitoba’s petroleum fiscal regime including Provincial Crown Oil Royalties and Freehold Production Oil Tax. It also outlines the Manitoba Drilling Incentive Program designed to encourage investment in the sustainable development of the Province’s petroleum resources.

The Province’s petroleum fiscal regime is established under The Oil and Gas Act and The Oil and Gas Production Tax Act and related regulations.
Access to these statutes published by Manitoba’s Statutory Publications is available on the Petroleum Branch website at the following address: http://www.manitoba.ca/iem/petroleum/actsregs/home.html

or by mail at:

ManItoba Mineral Resources

Petroleum Branch

360 - 1395 Ellice Avenue

Winnipeg, Manitoba R3G 3P2

Ph: (204) 945-6577

Fax: (204) 945-0586

Web site: www.gov.mb.ca/petroleum

OIL CLASSIFICATION

Oil produced in Manitoba is classified in one of four categories, old oil, new oil, third tier oil and holiday oil.

Old Oil includes

oil produced from a well drilled prior to April 1, 1974 that does not qualify as new oil or third tier oil.

New Oil includes

oil that is not third tier oil and is produced from a well drilled on or after April 1, 1974 and prior to April 1, 1999;

oil produced from an abandoned well re-entered on or after April 1, 1974 and prior to April 1, 1999;

oil produced from an old oil well that, in the opinion of the Director, can be reasonably attributed to an increase in reserves from an enhanced recovery project implemented after April 1, 1974 and prior to April 1, 1999; or

oil produced from a horizontal well.

Third Tier Oil includes

oil produced from a vertical well drilled on or after April 1, 1999;

oil produced from an abandoned well that is re-entered on or after April 1, 1999;

oil produced from an inactive vertical well, activated after April 1, 1999;

oil produced from a marginal well that has undergone a major workover; or

oil produced from an old oil well or new oil well that, in the opinion of the Director, can be reasonably attributed to an increase in reserves from an enhanced recovery project implemented under The Oil and Gas Act after April 1, 1999.

Holiday Oil includes

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