Create a Calculated Variable

A calculated variable is the result of a static calculation that you create in the Formula Editor. A calculated variable can use entity-level and regime-level inputs. Calculated variables can be used in trigger variables.

This procedure is performed on the Edit tab in the Fiscal Regimes Editor. To open the editor, click the Tools menu, point to Global Project Data and select Fiscal Regimes.

To create a calculated variable

  1. Beneath the input list, click Add and select Calculated Variable.
  2. Type a name for the variable and click OK.
  3. Complete the following fields:
    4. Selection Description
    Input Style Series or single value
    Data type Data type
    Unit Type Unit Type
    Calc. unit Calculation unit
    Result Stream Optional. Determines the field in which the results are displayed on reports.
    Report Factor This field is only displayed if you specify a Result Stream. The Report factor is applied to the specified Result Stream. Select 1, Working Interest, or Working Interest/Net Revenue Income.
    Custom Result Optional. Specify the Create Custom Results Fields you want to hold the result data. This field can also be displayed on reports you create in the Report Designer.
    Custom Factor This field is only displayed if you specify a Custom Result. The Custom Factor applies to the specified Custom Result Field. Select 1, Working Interest, or Working Interest/Net Revenue Income.
    Allocation This field is only displayed when Proportional is selected for Allocation. Allocation is available on Ring Fence regimes. A Result stream or Custom result at the ring fence level is allocated back to the entity level. It is meant as an approximation of the relative contribution of any one entity to the ring fence total. Select one of the following:
    • Equal Values: The ring fence value is allocated back to child entities equally based on the number of entities.
    • Proportional: The ring fence value is allocated back to child entities based on the relative value of a specified basis. See Basis, below.
    Basis This field is only displayed when Proportional Allocation is selected. You can select a default allocation basis from the list or you can select one that you created (in the Allocation Basis folder). See Create an Allocation Basis .
    Category Optional. The variable is only applied in this production category.
    Subcategory Optional. The variable is only applied in this production subcategory.
  4. Click  next to the Formula field to create the formula for the variable. See Create Formulas for Regime Variables.
  5. In the Formula Editor, create the formula by moving formula elements to the formula window.
  6. Click OK.