Calculation of Tax Savings from new Oil Extraction Tax Rate and

Repeal of Triggered Incentives

Actual
Collections

Actual

At 10% New Rate

Barrels Sold

Production Collection Distribution

Actual

Estimated
Triggered

Estimated
Savings Due to

Ave. Price

Collections

Trigger Repeal

Period

Period

Period

Jan
Feb
Mar
Apr

Feb
Mar
Apr
May

Mar
Apr
May
Jun

$ 83,235,571
$ 74,468,102
$ 101,696,196
$ 103,521,502

34,553,678
32,005,353
34,256,253
30,941,856

$ 24.09
$ 22.07
$ 29.85
$ 33.61

$ 50,776,284
$ 43,087,847
$ 62,375,498
$ 63,437,303

$ 32,459,287
$ 31,380,255
$ 39,320,698
$ 40,084,199

May

Jun

Jul

$ 120,289,917

32,271,278

$ 38.50

$ 75,789,096

$ 44,500,821

$ 295,466,028

$ 187,745,260

$ 483,211,288
Calculated "savings" due to trigger repeal:

$ 187,745,260