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• 8 (1) For the purposes of subsection 6(2), the project gross revenue for a year is equal to the sum of

  • (a) the forecast volume of the crude oil production in the year multiplied by the forecast crude oil price in that year;

• (2) The forecast crude oil, natural gas or NGL price for a year is equal to the amount determined by the following formula:

  (P + E) × I × PFX

  where

  P 

  is

  • (a) in the case of NGL or crude oil, the forecast WTI crude oil price at Cushing in constant US dollars per cubic metre; or

  E 

  is

  • (a) in the case of NGL or crude oil, the forecast difference in constant US dollars per cubic metre between the crude oil price or the NGL price, as the case may be, at the project boundary and the WTI crude oil price at Cushing; or

7 For the purposes of paragraph 143(3)(b) of the Act, Part II of the development plan shall include,

• (a) for a mean production scenario,

  • [...]

  • (iii) the forecast volume of annual production of NGL and crude oil over the life of the project in cubic metres, and

• (b) the forecast annual difference over the life of the project in constant US dollars per cubic metre between

  • (i) the crude oil price at the project boundary and the West Texas Intermediate (WTI) crude oil price at Cushing, and

  • (ii) the NGL price at the project boundary and the WTI crude oil price at Cushing;

• 1 (1) The following definitions apply in these Regulations.

  gross revenues

  gross revenues in relation to a project, includes oil, natural gas and NGL production revenues as determined using the prices of those resources at the project boundary, insurance proceeds, asset sale proceeds and revenues derived from the provision of a service for another project in relation to the production of oil, natural gas and NGL in the offshore area. (recettes brutes)

  Provincial Crown share

  Provincial Crown share means 12.5% in the case of natural gas and NGL production and 6.25% in the case of oil production. (part de la Couronne provinciale)

• (2) The calculations set out in sections 4 and 6 shall be made in respect of each of the oil, natural gas and NGL components of a project, if the project consists of at least 2 of those components.