| Term |
Description |
Source |
French Term |
| Abandonment and Restoration |
"abandonment and restoration" means activities, in respect of wells, production infrastructure and geological, geophysical and geochemical operations that were allowed capital costs of the project, relating to (a) the abandonment of a well, (b) the destruction, scrapping, removal, disassembling and decommissioning of production infrastructure, (c) the renewing, repairing, cleaning-up, remediation or other management of soil or water to the extent that the damage is consistent in scope and magnitude with any damage to the environment that would reasonably be expected where activities are conducted using good production practices so that the functions and qualities of the soil or water are comparable to those of its original, unaltered state, and (d) the monitoring of the effectiveness of the activities referred to in paragraphs (a) to (c); |
FLPRR INTERPRETATION 2(1) |
abandon et restauration |
| Abandonment and Restoration Royalty Trust |
"abandonment and restoration royalty trust" means a trust certified under section 7; |
FLPRR INTERPRETATION 2(1) |
fiducie de redevances pour l'abandon et la restaur |
| Act |
"Act" means the Canada Petroleum Resources Act; (Loi) |
FLPRR INTERPRETATION 2(1) |
Loi |
| Allowed Capital Costs |
"allowed capital costs" of an interest holder of a production licence in relation to a project in respect of any month means, if there is only one interest holder, the allowed capital costs of the project or, if there is more than one interest holder, the allowed capital costs of the project attributed to that interest holder, that are (a) described in and calculated in accordance with Schedule I, and (b) incurred in that month; |
FLPRR INTERPRETATION 2(1) |
coûts en capital déductibles |
| Allowed Operating Costs |
"allowed operating costs" of an interest holder of a production licence in relation to a project in respect of any month means, if there is only one interest holder, the allowed operating costs of the project or, if there is more than one interest holder, the allowed operating costs of the project attributed to that interest holder, that are (a) described in and calculated in accordance with Schedule I, and (b) incurred in that month; |
FLPRR INTERPRETATION 2(1) |
frais d'exploitation déductibles |
| Attributed |
"attributed" means allocated in accordance with an applicable allocation agreement or reasonably allocated if no allocation agreement exists; |
FLPRR INTERPRETATION 2(1) |
attribué |
| Average Capital |
"average capital", in respect of a month, means the sum of the average net capital, the land value and the working capital allowance for the month; |
FLPRR Sch II Interpretation |
capital moyen |
| Average Net Capital |
"average net capital", in respect of a month, means the sum of the opening net capital and closing net capital for the month divided by two; |
FLPRR Sch II Interpretation |
capital net moyen |
| Capital Cost Adjustment |
"capital cost adjustment" of an interest holder of a production licence in relation to a project means (a) in respect of a month preceding the month in which the project commencement date falls, an amount equal to five per cent of the allowed capital costs of the interest holder in relation to the project in respect of that month, and (b) in respect of the month in which the project commencement date falls and any month after that month, an amount equal to one per cent of the interest holder's allowed capital costs in relation to the project in respect of that month, other than any amounts considered under subsection (2) to be an interest holder's allowed capital cost in relation to the project in respect of the following month; |
FLPRR INTERPRETATION 2(1) |
rajustement du coût en capital |
| Closing Net Capital |
"closing net capital", in respect of a month, means the book value, before depreciation, at the end of the month, of all depreciable assets forming part of or permanently used at a facility at the beginning of the month plus 101% of the book value, before depreciation, of all depreciable assets acquired during the month and forming part of or permanently used at the facility at the end of the month, less all depreciation allowances in respect of those assets for that month and the preceding months; |
FLPRR Sch II Interpretation |
capital net de fermeture |
| Contribution Deferral Balance |
"contribution deferral balance" of an interest holder of a production licence in relation to a project in respect of any month means the amount, if any, by which the aggregate, for that month and all preceding months, of all contributions used to defer an amount of royalty under section 6 exceeds the withdrawal of those contributions under section 6.1; |
FLPRR INTERPRETATION 2(1) |
solde des apports servant au report de redevances |
| Cumulative Capital Cost Adjustments |
"cumulative capital cost adjustments" of an interest holder of a production licence in relation to a project in respect of any month means the aggregate of the capital cost adjustments of the interest holder for that month and the preceding months; |
FLPRR INTERPRETATION 2(1) |
montant cumulatif des rajustements des coûts en ca |
| Cumulative Costs |
"cumulative costs" of an interest holder of a production licence in relation to a project in respect of any month means, subject to any adjustments arising from section 8, the aggregate of (a) the interest holder's allowed capital costs in relation to the project for that month and the preceding months, (b) the interest holder's allowed operating costs in relation to the project for that month and the preceding months, (c) the royalty payable by the interest holder in that month and the preceding months in respect of petroleum produced from the project lands, (d) the cumulative capital cost adjustments in respect of the costs referred to in paragraph (a), (e) the cumulative operating cost adjustments in respect of the costs referred to in paragraph (b), and (f) the interest holder's cumulative return allowance in relation to the project in respect of that month; |
FLPRR INTERPRETATION 2(1) |
montant cumulative des coûts |
| Cumulative Gross Revenues |
"cumulative gross revenues" of an interest holder of a production licence in relation to a project in respect of any month means the aggregate of the gross revenues of the interest holder in respect of that month and the preceding months; |
FLPRR INTERPRETATION 2(1) |
montant cumulatif des revenus bruts rajustés |
| Cumulative Operating Cost Adjustments |
"cumulative operating cost adjustments" of an interest holder of a production licence in relation to a project in respect of any month means the aggregate of the operating cost adjustments of the interest holder for that month and the preceding months; |
FLPRR INTERPRETATION 2(1) |
montant cumulatif des rajustements des frais d'exp |
| Cumulative Return Allowance |
"cumulative return allowance" of an interest holder of a production licence in relation to a project in respect of any month means the aggregate of the return allowances for the months preceding that month; |
FLPRR INTERPRETATION 2(1) |
montant cumulatif de l'allocation de rendement |
| Delineation Well |
"delineation well" means a well that is so located in relation to another well penetrating an accumulation of petroleum that there is a reasonable expectation that another portion of the accumulation will be penetrated by the first-mentioned well and that the drilling of the first-mentioned well is necessary in order to determine the commercial value of the accumulation; |
FLPRR INTERPRETATION 2(1) |
puits de délimitation |
| Depreciable Assets |
"depreciable assets" means property in respect of which capital cost allowances may be deducted under the Income Tax Act , as amended from time to time; |
FLPRR Sch II Interpretation |
bien amortissable |
| Development Plan |
"development plan" means a development plan or an amended development plan approved pursuant to the Canada Oil and Gas Operations Act; |
FLPRR INTERPRETATION 2(1) |
plan de mise en valeur |
| Development Well |
"development well" means a well that is so located in relation to another well penetrating an accumulation of petroleum that it is considered to be a well or part of a well drilled for the purpose of production or observation or for the injection or disposal of fluid into or from the accumulation; |
FLPRR INTERPRETATION 2(1) |
puits d'exploitation |
| Discovery Well |
"discovery well" means the well drilled on a geological feature that indicates that a significant discovery has been made; |
FLPRR INTERPRETATION 2(1) |
puits de découverte |
| Exploratory Well |
"exploratory well" means a well drilled on a geological feature on which a significant discovery has not been made; |
FLPRR INTERPRETATION 2(1) |
puits d'exploration |
| Facility |
"facility" means a gas plant or a transportation facility; |
FLPRR INTERPRETATION 2(1) |
installation |
| Facility Operating Costs |
"facility operating costs" in respect of a month means the facility operating costs that are described in and calculated in accordance with section 7 and that are incurred in that month; |
FLPRR Sch II Interpretation |
frais d'exploitation d'une installation |
| Frontier Lands |
frontier lands means lands that belong to Her Majesty in right of Canada, or in respect of which Her Majesty in right of Canada has the right to dispose of or exploit the natural resources, and that are situated in (a) the Northwest Territories, Nunavut or Sable Island, or (b) submarine areas, not within a province, in the internal waters of Canada, the territorial sea of Canada or the continental shelf of Canada, but does not include the adjoining area, as defined in section 2 of the Yukon Act; |
CPRA |
terres domaniales |
| Gas |
gas means natural gas and includes all substances, other than oil, that are produced in association with natural gas; |
CPRA |
gaz |
| Gas Plant |
"gas plant" means a facility for processing transportable petroleum by any process, including absorption, adsorption and refrigeration, designed to recover residue gas or gas plant products; |
FLPRR INTERPRETATION 2(1) |
usine de traitement du gaz |
| Gross Revenues |
"gross revenues" of an interest holder of a production licence from petroleum produced from project lands means the gross revenues of the interest holder as determined in accordance with Schedule II; |
FLPRR INTERPRETATION 2(1) |
revenus bruts |
| Holder or Interest Holder |
holder or interest holder means, in respect of an interest or a share therein, the person indicated, in the register maintained pursuant to Part VIII, as the holder of the interest or the share; |
CPRA |
indivisaire |
| Inflation Index |
"inflation index" means the monthly Consumer Price Index as published by Statistics Canada under the authority of the Statistics Act; |
FLPRR INTERPRETATION 2(1) |
indice d'inflation |
| Interest |
interest means any former exploration agreement, former lease, former permit, former special renewal permit, exploration licence, production licence or significant discovery licence; |
CPRA |
titre |
| Investment Royalty Credit |
"investment royalty credit" of an interest holder means twenty-five per cent of that portion of the qualified frontier exploration expenses claimed by the interest holder as Canadian exploration expenses under the Income Tax Act, as amended from time to time, and certified by the Minister pursuant to subsection 10(3); |
FLPRR INTERPRETATION 2(1) |
crédit de redevance à l'investissement |
| Investment Royalty Credit Balance |
"investment royalty credit balance" of an interest holder in respect of any month means the amount, if any, by which the aggregate of that interest holder's investment royalty credits exceeds the aggregate of all amounts deducted under subsection 3(3) in respect of the months preceding that month; |
FLPRR INTERPRETATION 2(1) |
solde du crédit de redevance à l'investissement |
| Land Value |
"land value" means the acquisition cost of land on which a facility is permanently located; |
FLPRR Sch II Interpretation |
valeur foncière |
| Long-Term Government Bond Rate |
"long-term government bond rate" in respect of any month means the average percentage yield, during the calendar year immediately preceding the calendar year in which that month falls, of securities issued by the Government of Canada maturing in over ten years, as published by the Bank of Canada in the Bank of Canada Review; |
FLPRR INTERPRETATION 2(1) |
taux des obligations à long terme du gouvernement |
| Month of Payout |
"month of payout" of an interest holder of a production licence in relation to a project means the first month in respect of which the interest holder's cumulative gross revenues in relation to the project are equal to or greater than the interest holder's cumulative costs in relation to the project; |
FLPRR INTERPRETATION 2(1) |
mois de recouvrement de l'investissement initial |
| Net Revenues |
"net revenues" of an interest holder of a production licence in relation to a project in respect of month means the amount by which the interest holder's gross revenues in that month exceed the aggregate of the interest holder's (a) allowed capital costs in relation to the project in respect of that month, (b) allowed operating costs in relation to the project in respect of that month, (c) capital cost adjustment in relation to the project in respect of that month, and (d) operating cost adjustment in relation to the project in respect of that month. |
FLPRR INTERPRETATION 2(1) |
revenus nets |
| Non-Qualifying Expense |
"non-qualifying expense" means an expense (a) that is a Canadian exploration and development overhead expense within the meaning of section 1206 of the Income Tax Regulations, as amended from time to time, or (b) in respect of which a reimbursement, compensation or other payment is made, including any amount of assistance or benefit from a government, municipality or other public authority, whether as a grant, subsidy, forgivable loan, deduction from royalty or tax, investment allowance or any other form of assistance or benefit; |
FLPRR INTERPRETATION 2(1) |
frais non admissibles |
| Oil |
oil means (a) crude oil, regardless of gravity, produced at a well head in liquid form, and (b) any other hydrocarbons, except coal and gas, and, without limiting the generality of the foregoing, hydrocarbons that may be extracted or recovered from deposits of oil sand, bitumen, bituminous sand, oil shale or from any other types of deposits on the surface or subsurface or the seabed or its subsoil of any frontier lands; |
CPRA |
pétrole |
| Opening Net Capital |
"opening net capital", in respect of a month, means the book value, before depreciation, at the beginning of the month, of all depreciable assets forming part of or permanently used at a facility at the beginning of the month, less all depreciation allowances in respect of those assets for the preceding months; |
FLPRR Sch II Interpretation |
capital net d'ouverture |
| Operating Cost Adjustment |
"operating cost adjustment" of an interest holder of a production licence in relation to a project in respect of any month means an amount equal to ten per cent of the allowed operating costs of the interest holder in relation to the project in respect of that month; |
FLPRR INTERPRETATION 2(1) |
rajustement des frais d'exploitation |
| Petroleum |
petroleum means oil or gas; |
CPRA |
hydrocarbures |
| Point of Production |
"point of production" means the point at which transportable petroleum leaves production infrastructure; |
FLPRR INTERPRETATION 2(1) |
point de production |
| Production Infrastructure |
"production infrastructure" means any equipment and buildings that are used for the production or treatment of petroleum from the reservoir and includes (a) equipment for natural pressure reduction, mechanical separation, heating, cooling, dehydration and compression, and (b) batteries, gathering lines, storage areas, tanks, landing areas, heliports and personnel accommodations; |
FLPRR INTERPRETATION 2(1) |
infrastructure de production |
| Production Month |
"production month" means a calendar month in which petroleum is produced from project lands on one or more days in that month; |
FLPRR INTERPRETATION 2(1) |
mois de production |
| Project |
"project" means a project described in a development plan; |
FLPRR INTERPRETATION 2(1) |
projet |
| Project Commencement Date |
"project commencement date" means the date on which a project development plan is approved; |
FLPRR INTERPRETATION 2(1) |
date de démarrage du projet |
| Project Lands |
"project lands" means the frontier lands, described in the production licence or licences issued for the purpose of producing petroleum from those lands in accordance with a project; |
FLPRR INTERPRETATION 2(1) |
terres domaniales du projet |
| Qualified Frontier Exploration Expenses |
"qualified frontier exploration expenses" means the aggregate of all expenses that are incurred in the drilling or completing of an exploratory well, an exploratory probe or a delineation well that is located on frontier lands in respect of which the Act applies, or in preparing the site in respect of such a well or in the building of a temporary access road to the site, and that (a) are incurred on or before December 31, 2007, (b) do not exceed $5 million in respect of any one well, (c) are not non-qualifying expenses, and (d) are reasonable in the circumstances; |
FLPRR INTERPRETATION 2(1) |
frais d'exploration admissibles sur des terres dom |
| Return Allowance |
"return allowance" of an interest holder of a production licence in relation to a project in respect of any month means the return allowance for that month calculated in accordance with section 9; |
FLPRR INTERPRETATION 2(1) |
allocation de rendement |
| Return on Average Capital |
"return on average capital", in respect of a month, means an amount equal to the average capital for the month multiplied by that percentage equal to font-family:5% plus the long-term government bond rate, and divided by 12 ; |
FLPRR Sch II Interpretation |
rendement du capital moyen |
| Transportable Petroleum |
"transportable petroleum" means petroleum that is sufficiently free from impurities and is otherwise in such a condition that it will be accepted for transportation by a transportation facility; |
FLPRR INTERPRETATION 2(1) |
hydrocarbures transportables |
| Transportation Facility |
"transportation facility" means a pipeline, tanker or other transportation equipment used to deliver petroleum from project lands, or in the case described in paragraph 1(1)(m) to Schedule 1, from production infrastructure, to the point at which the petroleum is delivered to the first purchaser of the petroleum. |
FLPRR INTERPRETATION 2(1) |
réseau de transport |
| Working Capital Allowance |
"working capital allowance", in respect of a month, means an amount equal to 110 % of the facility operating costs for that month multiplied by two . |
FLPRR Sch II Interpretation |
déduction pour fonds de roulement |