TOTAL-APA JV - OVERVIEWAPA has developed a great template for CGX to use regarding potential JV negotiations... See link below
Corentyne Block JV: 33% CGX, 33% NEWCO, 33% Frontera
Exploration Well Cost (2 for each block): 10% CGX, 50% NEWCO, 40% Frontera
Appraisal & Development Cost Participation: - First $10B in gross spend: (33% Frontera, 50% NEWCO, 17% CGX)
- All Spend Above $10B: (33% Frontera, 40% NEWCO, 27% CGX)
Cash Payment Upon Close: $66M for each license (cash payment does not include $155M in Corentyne cost recovery amount owed to CGX)
Royalties: - $0.25 / bbl if Brent is ≤ $65
- $0.375 / bbl if Brent is > $65 ≤ $80
- $0.50 / bbl if Brent is > $80
https://investor.apachecorp.com/static-files/5c5bb50f-f075-408b-9d8b-6509573cc8ef