test1 Apr 2023 14:40
These are the results using the new swap schedule from this years annual report.
-----------------OUTFLOW (what Angus pays Mercuria)
PRODUCTION PERIOD 1----------- 01/07/22 - 30/09/22
SEP multiplier for swap 843,750 x floating price £2.5600 = £2,160,000
PRODUCTION PERIOD 2------------01/10/22 - 31/03/23
OCT multiplier for swap 1,788,452 x floating price £1.1017 = £1,969,377
NOV multiplier for swap 1,730,760 x floating price £1.2486 = £2,216,083
DEC multiplier for swap 1,788,452 x floating price £2.7736 = £4,960,466
JAN multiplier for swap 2,079,077 x floating price £1.5827 = £3,290,555
FEB multiplier for swap 1,877,875 x floating price £1.3533 = £2,541,328
MAR multiplier for swap 2,079,077 x floating price £1.1299 = £2,349,069
TOTAL OUTFLOW FROM PRODUCTION PERIOD 2 £17,326,878
TOTAL OUTFLOW FROM ANGUS TO MERCURIA prod periods 1,2 £19,486,878
--------------------INFLOW (what Mercuria pays Angus)
PRODUCTION PERIOD 1----------- 01/07/22 - 30/09/22
SEP multiplier for swap 843,750 x fixed price £0.4140 = £349,312
PRODUCTION PERIOD 2----------- 01/10/22 - 31/03/23
OCT multiplier for swap 1,788,452 x fixed price £0.5205 = £930,868
NOV multiplier for swap 1,730,670 x fixed price £0.5205 = £900,840
DEC multiplier for swap 1,788,452 x fixed price £0.5205 = £930,868
JAN multiplier for swap 2,079,077 x fixed price £1.0600 = £2,203,822
FEB multiplier for swap 1,877,875 x fixed price £1.0600 = £1,990,547
MAR multiplier for swap 2,079,875 x fixed price £1.0600 = £2,203,822
TOTAL INFLOW FROM PRODUCTION PERIOD 2 £9,160,767
TOTAL INFLOW FROM MERCURIA TO ANGUS prod periods 1,2 £9,510,079
PRODUCTION PERIOD 1 ------LOSS £1,810,688
PRODUCTION PERIOD 2 ------LOSS £8,166,111
TOTAL loss on commodity swap to 31st March inc £9,976,799
GAS SALES (Inc monthly Shell take-off at 1.5% and NTSEC 0.386p per therm deductions)
PRODUCTION PERIOD 1----- 01/07/22 to 30/09/22
SEP 1,220,442 therms for £3,069,061
GAS SALES QUARTER 4 22-------1,220,442 therms for £3,069,061
PRODUCTION PERIOD 2----- 01/10/22 to 31/03/23
OCT 1,858,101 therms for £1,991,096
NOV 1,984,426 therms for £2,525,361
DEC 1,801,043 therms for £4,955,520
GAS SALES QUARTER 1 22------ 5,643,570 therms for £9,638,336
JAN 1,908,520 therms for £2,971,955
FEB 1,680,025 therms for £2,236,878
MAR 1,833,369 therms for £1,994,119
GAS SALES QUARTER 2 23-------5,421,914 therms for £7,202,952
PRODUCTION PERIOD 1-------GAS SALES £3,069,061
PRODUCTION PERIOD 2-------GAS SALES £16,841,288
Total gas sales REVENUE to 31st March inc £19,910,349
Gas sales REVENUE less SWAP LOSS at Saltfleetby to 31st March inc £9,933,550
1) SAP price used
2) Catch up payment of £4.175m (to Mercuria) should probably be applied to production period 1