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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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July 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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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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|||||||||
|
2015
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48.69
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53.32
|
62.17
|
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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6 mos.
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68.31
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71.90
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90.22
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77.77
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0.71
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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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|
71.09
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75.14
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96.45
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80.62
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0.72
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FORECAST PRICES
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2025
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6 mos.
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66.15
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69.74
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88.54
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73.75
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0.72
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2026
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69.35
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73.87
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92.32
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76.90
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0.73
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2027
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72.72
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75.65
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94.27
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78.53
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0.75
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||||
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2028
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74.17
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79.10
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96.22
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80.15
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0.75
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2029
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75.66
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80.68
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98.22
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81.81
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0.75
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||||
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2030
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77.17
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82.30
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100.25
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83.50
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0.75
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||||
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2031
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78.71
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83.94
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102.32
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85.23
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0.75
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||||
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2032
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80.29
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85.62
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104.43
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86.99
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0.75
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||||
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2033
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81.90
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87.33
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106.59
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88.78
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0.75
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||||
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2034
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83.53
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89.08
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108.79
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90.62
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0.75
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||||
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2035
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85.20
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90.86
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111.03
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92.48
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0.75
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||||
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2036
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86.91
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92.68
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113.32
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94.39
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0.75
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||||
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2037
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88.65
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94.53
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115.65
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96.33
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0.75
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||||
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2038
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90.42
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96.42
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118.03
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98.31
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0.75
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2039
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92.23
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98.35
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120.46
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100.34
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0.75
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2040
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94.07
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100.32
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122.93
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102.40
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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: $US64.85/STB in 2025; $US61.37/STB in 2026; $US61.63/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: $US67.06/STB in 2025; $US64.80/STB in 2026; $US65.22/STB in 2027)
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[3]
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Equivalent price for Light Sweet Crude (D2/S2) & Synthetic Crude landed in Edmonton.
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[4]
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Western Canada Select (20.5API), spot price for B.C., Alberta, Saskatchewan, and Manitoba.
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CHAPMAN HYDROGEN AND PETROLEUM ENGINEERING LTD.
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NATURAL GAS & BY-PRODUCTS
|
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HISTORICAL, CONSTANT, CURRENT AND FUTURE PRICES
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July 1, 2025
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Alberta
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AECO Spot
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Henry Hub
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Propane
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Butane
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Condensate (Pentanes Plus)
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|||
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GRP [1]
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Gas[2]
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Gas[3]
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C3 [4]
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C4 [4]
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C5+[5]
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||
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Date
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$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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6 mos.
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1.70
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1.61
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1.84
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3.70
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40.09
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40.50
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95.18
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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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|
|
1.44
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1.37
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1.47
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2.83
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34.84
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41.21
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94.74
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FORECAST PRICES
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2025
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6 mos.
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1.84
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1.75
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2.09
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3.75
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31.81
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41.58
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85.88
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2026
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2.75
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2.61
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3.12
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4.46
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32.40
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45.17
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89.55
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2027
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3.07
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2.91
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3.49
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4.10
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33.23
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46.97
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91.44
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2028
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3.32
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3.15
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3.77
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4.18
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34.12
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48.24
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93.34
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2029
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3.38
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3.21
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3.84
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4.27
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35.03
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49.53
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95.27
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2030
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3.45
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3.27
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3.92
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4.35
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35.96
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50.85
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97.24
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2031
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3.52
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3.34
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4.00
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4.44
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36.92
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52.20
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99.25
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2032
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3.59
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3.41
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4.08
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4.53
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37.89
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53.58
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101.30
|
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|
2033
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3.66
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3.47
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4.16
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4.62
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38.89
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55.00
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103.39
|
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2034
|
3.74
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3.54
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4.24
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4.71
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39.91
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56.44
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105.52
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2035
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3.81
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3.61
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4.33
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4.80
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40.96
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57.92
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107.70
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2036
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3.89
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3.69
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4.42
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4.90
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41.80
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59.11
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109.92
|
|
|
2037
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3.96
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3.76
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4.50
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5.00
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42.66
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60.33
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112.18
|
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|
2038
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4.04
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3.83
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4.59
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5.10
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43.54
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61.57
|
114.49
|
|
|
2039
|
4.12
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3.91
|
4.69
|
5.20
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44.44
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62.84
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116.84
|
|
|
2040
|
4.21
|
3.99
|
4.78
|
5.30
|
45.35
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64.13
|
121.70
|
|
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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: $US1.82/MMBTU in 2025; $US2.97/MMBTU in 2026; $US3.03/MMBTU in 2027).
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[3]
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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: $US3.65/MMBTU in 2025; $US4.46/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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