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CHAPMAN HYDROGEN AND PETROLEUM ENGINEERING LTD.
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CRUDE OIL
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HISTORICAL, CONSTANT, CURRENT AND FUTURE PRICES
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April 1, 2025
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AB Synthetic
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Western Canada
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Exchange
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WTI [1]
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Brent Spot (ICE)[2]
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Crude Price [3]
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Select [4]
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Rate
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|||||
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Date
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$US/STB
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$US/STB
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$CDN/STB
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$CDN/STB
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$CDN/$US
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||||
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HISTORICAL PRICES
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|||||||||
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2015
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48.69
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53.32
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62.17
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46.23
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0.78
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||||
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2016
|
43.17
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45.06
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57.98
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38.90
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0.76
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||||
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2017
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50.86
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54.75
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67.75
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49.63
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0.77
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||||
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2018
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64.92
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71.64
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75.06
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50.17
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0.77
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||||
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2019
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57.00
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64.11
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75.28
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57.86
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0.75
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||||
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2020
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39.54
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43.40
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48.78
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37.05
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0.75
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||||
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2021
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67.89
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70.39
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83.73
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68.00
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0.80
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||||
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2022
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94.73
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100.62
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125.24
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100.41
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0.77
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||||
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2023
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77.59
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82.49
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107.36
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77.29
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0.74
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||||
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2024
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76.46
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80.49
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103.57
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83.48
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0.73
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||||
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2025
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3 mos.
|
71.87
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75.81
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97.22
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84.57
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0.70
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|||
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CONSTANT PRICES (The average of the first-day-of-the-month price for the preceding 12 months-SEC)
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|||||||||
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|
75.23
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78.98
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103.86
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84.95
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0.72
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FORECAST PRICES
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2025
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9 mos.
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70.29
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74.98
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97.98
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80.45
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0.71
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2026
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73.76
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76.56
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100.72
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82.70
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0.73
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||||
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2027
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75.91
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79.40
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100.87
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82.83
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0.75
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||||
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2028
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77.42
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81.82
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102.91
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84.50
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0.75
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2029
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78.97
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83.46
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104.99
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86.21
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0.75
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||||
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2030
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80.55
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85.13
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107.11
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87.95
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0.75
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||||
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2031
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82.16
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86.83
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109.27
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89.72
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0.75
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||||
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2032
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83.81
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88.57
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111.48
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91.54
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0.75
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||||
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2033
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85.48
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90.34
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113.73
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93.38
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0.75
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||||
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2034
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87.19
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92.15
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116.02
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95.27
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0.75
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||||
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2035
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88.94
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93.99
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118.36
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97.19
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0.75
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||||
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2036
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90.71
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95.87
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120.75
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99.15
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0.75
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||||
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2037
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92.53
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97.79
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123.18
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101.15
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0.75
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||||
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2038
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94.38
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99.74
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125.67
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103.19
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0.75
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||||
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2039
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96.27
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101.74
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128.20
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105.27
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0.75
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2040
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98.19
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103.77
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130.79
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107.39
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0.75
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||||
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Escalated 2% thereafter
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Notes:
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[1]
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West Texas Intermediate quality (D2/S2) crude (40API) landed in Cushing, Oklahoma.
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(Actual WTI strip oil prices are: $US69.34/STB in 2025; $US65.85/STB in 2026; $US64.33/STB in 2027)
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[2]
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The Brent Spot price is estimated based on historic data.
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(Actual Brent strip oil prices are: $US72.8/STB in 2025; $US69.60/STB in 2026; $US68.45/STB in 2027)
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[3]
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Equivalent price for Light Sweet Crude (D2/S2) & Synthetic Crude landed in Edmonton.
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[4]
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Western Canada Select (20.5API), spot price for B.C., Alberta, Saskatchewan, and Manitoba.
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CHAPMAN HYDROGEN AND PETROLEUM ENGINEERING LTD.
|
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NATURAL GAS & BY-PRODUCTS
|
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HISTORICAL, CONSTANT, CURRENT AND FUTURE PRICES
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April 1, 2025
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Alberta
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AECO Spot
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Henry Hub
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Propane
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Butane
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Condensate (Pentanes Plus)
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|||
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GRP [1]
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Gas[2]
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Gas[3]
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C3 [4]
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C4 [4]
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C5+[5]
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||
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Date
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$CDN/MMBTU
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$CDN/GJ
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$CDN/MMBTU
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$US/MMBTU
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$CDN/BBL
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$CDN/BBL
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$CDN/BBL
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HISTORICAL PRICES
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2015
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4.22
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4.00
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4.51
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4.35
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46.85
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62.26
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108.28
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2016
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2.62
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2.48
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2.71
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2.76
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6.17
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36.81
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59.14
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2017
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2.03
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1.93
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2.18
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2.50
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6.71
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29.81
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55.62
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2018
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2.05
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1.94
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2.50
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2.96
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25.55
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39.62
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67.15
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2019
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1.38
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1.31
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1.51
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3.18
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30.47
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48.97
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77.19
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2020
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1.31
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1.24
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1.81
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2.57
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14.98
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21.39
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70.46
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2021
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1.85
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1.75
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2.25
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2.02
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20.62
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24.74
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50.06
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2022
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3.05
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2.89
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3.58
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3.91
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42.31
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38.12
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70.39
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2023
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4.60
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4.36
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5.14
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6.45
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53.85
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62.81
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122.16
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2024
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3.00
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2.84
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2.51
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2.59
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31.68
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49.39
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108.73
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2025
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3 mos.
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1.62
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1.54
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2.05
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4.21
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43.24
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42.82
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99.44
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|
CONSTANT PRICES (The average of the first-day-of-the-month price for the preceding 12 months-SEC)
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||||||||
|
|
|
1.42
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1.35
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1.45
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2.40
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32.96
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43.24
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103.87
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FORECAST PRICES
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2025
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9 mos.
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2.39
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2.27
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2.88
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4.40
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35.41
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50.05
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95.04
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2026
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2.76
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2.62
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3.33
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4.37
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35.36
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52.21
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97.70
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2027
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2.97
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2.81
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3.58
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4.02
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35.35
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52.30
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97.85
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2028
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3.03
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2.87
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3.65
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4.10
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36.06
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53.36
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99.82
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2029
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3.09
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2.93
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3.72
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4.18
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36.79
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54.44
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101.84
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2030
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3.15
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2.99
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3.80
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4.27
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37.53
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55.54
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103.90
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2031
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3.21
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3.05
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3.87
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4.35
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38.29
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56.66
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105.99
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2032
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3.28
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3.11
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3.95
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4.44
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39.06
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57.80
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108.13
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2033
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3.34
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3.17
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4.03
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4.53
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39.85
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58.97
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110.31
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2034
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3.41
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3.23
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4.11
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4.62
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40.65
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60.16
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112.54
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2035
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3.48
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3.30
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4.19
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4.71
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41.47
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61.37
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114.81
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2036
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3.55
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3.36
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4.28
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4.81
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42.31
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62.61
|
117.13
|
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|
2037
|
3.62
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3.43
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4.36
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4.90
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43.16
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63.87
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119.49
|
|
|
2038
|
3.69
|
3.50
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4.45
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5.00
|
44.03
|
65.16
|
121.90
|
|
|
2039
|
3.76
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3.57
|
4.54
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5.10
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44.92
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66.47
|
124.36
|
|
|
2040
|
3.84
|
3.64
|
4.63
|
5.20
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45.83
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67.81
|
129.48
|
|
|
Escalated 2% thereafter
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Notes:
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[1]
|
Alberta Gas Reference Price (GRP) represents the average of all system and direct (spot and firm) sales.
|
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[2]
|
The AECO C Spot price, which is the Alberta gas trading price.
|
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(Actual AECO C spot gas prices are: $US2.51/MMBTU in 2025; $US3.27/MMBTU in 2026; $US3.03/MMBTU in 2027).
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[3]
|
Henry Hub Spot is natural gas traded on the New York Mercantile Exchange (NYMEX.
|
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(Actual Henry Hub strip gas prices are: $US4.4/MMBTU in 2025; $US4.37/MMBTU in 2026; $US4.02/MMBTU in 2027).
|
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[4]
|
Alberta average field price for Propane and Butane purchased at field locations.
|
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|
[5]
|
Edmonton condensate from GasAlbertaInc.
|
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