Corridor Resources Inc. Oil & Gas Exploration and Production Operations and Cost Analysis - Q3, 2014

 Published On: Jan, 2015 |    No of Pages: 81 |  Published By: GlobalData | Format: PDF
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Summary

Corridor Resources Inc. Oil & Gas Exploration and Production Operations and Cost Analysis is the latest report from GlobalData, the industry analysis specialists, that offers comprehensive information on the operational and financial performance of the company. The report is an essential source for key operational data, analysis and strategic insight into company. The report provides latest annual and quarterly overview of production, reserves, share price performance, reserve changes, capital expenditures, acreage, performance metrics and results of oil & gas operations.

Scope

The report provides in-depth analysis and insights into companies’ capital spending, revenues, oil and gas reserves, production, and performance measures. Its scope includes -
- The report provides detailed and unique insights information on the key operational parameters. The report provides a comprehensive overview of production, reserves, reserve changes, capital expenditures, acreage, performance metrics, and results of oil & gas operations.
- Provides analysis of the share price performance of the company and the key valuation multiples. The report provides a comprehensive overview of share price performance and key valuation metrics such as market capitalization, enterprise value, EV/Production ($boe/d) and EV/Proved Reserve ($/boe)
- Provides annual and quarterly information on key operational and financial parameters. Annual information is for the current and the last four years while the quarterly information is for the current and the last four quarters
- The report provides detailed crude oil and natural gas reserves and production information of the company by country as disclosed in their annual report and regulatory filings.
- Contains in-depth and latest information on exploration, development, finding & development, acquisition expenditure, gross and net developed and undeveloped acreage position; key costs and revenue information; and performance metrics of the company as disclosed in their annual report and regulatory filings.

Note: Scope of the report mentioned above is generic and may not be applicable to all the companies. The report is based on the information disclosed by the company in their annual report and regulatory filings. Information that is not disclosed by the company may not be available in the report.

Quarterly information is covered only for those companies which are December ending and files quarter report. There might be cases where countries/regions data column/Charts will be blank for last five years. This is due to companies might have discontinued reporting of that countries/regions during the last five year time period.

Reasons to buy

The report will enhance your decision making capability in a more rapid and time sensitive manner. It will allow you to -
- Provides up-to-date information and in-depth analysis on operational parameters of the company.
- Identify M&A targets from up-to-date information and in-depth analysis on financial and operational parameters of your competitors.
- Rank your performance against other E&P companies using operational and financial benchmarking metrics.
- Formulate your strategies based on in-depth analysis of your competitors’ financial and operational data.
- Exploit the strengths and weakness of your closest competitors by comparing and analyzing their financial and operational parameters.
- Establish relative performance among the industry’s players based on key operational and financial measures.

Table of Contents
Table of Contents 2
List of Tables 4
List of Figures 5
Company Snapshot 7
Key Information 7
Company Overview 7
Corridor Resources Inc., Valuation and Financial Data 8
Corridor Resources Inc., Share Price Performance 8
Share Price Performance, Q3, 2013-Q3, 2014 8
Corridor Resources Inc., Key Valuation Metrics 9
Key Valuation Metrics, Q3, 2013-Q3, 2014 9
Corridor Resources Inc., Quarterly Results of Oil & Gas Operations Per boe Produced 10
Results of Oil & Gas Operations Per boe Produced, Q3, 2013-Q3, 2014 10
Results of Oil & Gas Operations Per boe Growth Rates, Q3, 2013-Q3, 2014 11
Corridor Resources Inc., Quarterly E&P Costs Trends 12
Upstream Capital Expenditure, Q3, 2013-Q3, 2014 12
Corridor Resources Inc., Quarterly Production Trends 13
Corridor Resources Inc., Total Oil and Gas Production 13
Total Crude Oil and Natural Gas Production Trend, Q3, 2013-Q3, 2014 13
Total Crude Oil & Natural Gas Production, By Country/Region, Q3, 2013-Q3, 2014 14
Corridor Resources Inc., Natural Gas Production 15
Total Natural Gas Production Trend, Q3, 2013-Q3, 2014 15
Natural Gas Production, By Country/Region, Q3, 2013-Q3, 2014 16
Corridor Resources Inc., Valuation and Financial Data, 2009-2013 17
Corridor Resources Inc., Share Price Performance, 2009-2013 17
Share Price Performance, 2009-2013 17
Key Valuation Metrics, 2009-2013 18
Corridor Resources Inc., Production and Reserves Trends 19
Total Oil and Gas, Reserves and Production 19
Total Crude Oil and Natural Gas Production and Reserves Trend, 2009-2013 19
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2009-2013 21
Total Crude Oil and Natural Gas Reserve Changes, 2009-2013 23
Crude Oil/Liquids Production and Reserve 24
Crude Oil/Liquids Production and Reserve Trend, 2009-2013 24
Crude Oil Production and Reserves By Country/Region, 2009-2013 25
Crude Oil/Liquids Reserve Changes, 2009-2013 26
Natural Gas Production and Reserve 27
Natural Gas Production and Reserve Trend, 2009-2013 27
Natural Gas Production and Reserves, By Country/Region, 2009-2013 28
Natural Gas Reserve Changes, 2009-2013 30
Total Crude Oil and Natural Gas Reserves Life Index 31
Total Crude Oil and Natural Gas Reserves Life Index, 2009-2013 31
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2009-2013 32
Corridor Resources Inc., E&P Costs Trends 34
Allocation of the Upstream Capital Expenditure 34
Upstream Capital Expenditure, 2009-2013 34
Exploration and Development Costs, By Country/Region, 2009-2013 35
Oil and Gas Cost Per boe, US$/boe 37
Oil and Gas Cost Per boe, US$/boe, 2009-2013 37
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2009-2013 39
Corridor Resources Inc., Reserve Replacement Ratio 41
Oil and Gas Production Replacement Ratio 41
Oil and Gas Production Replacement Ratio, 2009-2013 41
Oil and Gas Production Replacement Ratio, By Country/Region, 2009-2013 43
Corridor Resources Inc., Results of Oil & Gas Operations Trend 47
Oil and Gas Revenue and Expenses 47
Oil and Gas Revenue and Expenses, 2009-2013 47
Oil and Gas Revenue and Expenses, By Country/Region, 2009-2013 48
Oil and Gas Revenue and Expenses, Per boe 53
Oil and Gas Revenue and Expenses, By boe, 2009-2013 53
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2009-2013 54
Oil and Gas Performance Metrics 58
Corridor Resources Inc., Land Holdings and Well Data 59
Developed and Undeveloped Acreage 59
Gross and Net Developed and Undeveloped Acreage, 2009-2013 59
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2009-2013 60
Well Statistics 62
Producible Oil and Gas Well, 2009-2013 62
Producible Oil and Gas Well, By Country/Region, 2009-2013 63
Exploration and Development Wells Drilled, 2009-2013 66
Exploration and Development Wells Drilled, By Country/Region, 2009-2013 67
Recent Developments 68
Corridor Resources Inc. - Recent Developments 68
Dec 23, 2014: Corridor Completes Additional Forward Sale Resulting In Strong First Quarter 2015 Pricing 68
Dec 18, 2014: Corridor Response To New Brunswick Moratorium 68
Nov 12, 2014: Corridor Announces Third Quarter Results 69
Oct 28, 2014: Corridor Announces Initial Results of 2014 Capital Program 71
Oct 23, 2014: Strategic agreement signed between Anticosti Hydrocarbons and Gaz Métro to develop natural associated gas from Anticosti Island 72
Sep 29, 2014: Corridor Announces New CEO 73
Aug 13, 2014: Corridor Announces Second Quarter Results 73
Aug 01, 2014: Corridor CEO to Retire 75
May 12, 2014: Corridor Announces First Quarter Results 75
Mar 25, 2014: Corridor Announces 2013 Year End Results 76
Appendix 79
Methodology 79
Coverage 79
Secondary Research 79
Primary Research 79
Data Information Sources 80
Company Source 80
SEC/Other Regulatory Filings 80
Other Sources 80
Expert Panel Validation 80
Data Definition 80
Oil and Gas Reserves 80
Units of Measure 81
About GlobalData 81
Disclosure 81
Disclaimer 81

List of Tables
Table 1: Corridor Resources Inc., Key Facts 7
Table 2: Corridor Resources Inc., Share Price Performance, Q3, 2013-Q3, 2014 8
Table 3: Corridor Resources Inc., Key Valuation Metrics, Q3, 2013-Q3, 2014 9
Table 4: Corridor Resources Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q3, 2013-Q3, 2014 10
Table 5: Corridor Resources Inc., Results of Oil & Gas Operations Per boe Growth Rates, %, Q3, 2013-Q3, 2014 11
Table 6: Corridor Resources Inc., Upstream Capital Expenditure, Q3, 2013-Q3, 2014 12
Table 7: Corridor Resources Inc., Total Crude Oil and Natural Gas, Production, Q3, 2013-Q3, 2014 13
Table 8: Corridor Resources Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q3, 2013-Q3, 2014 14
Table 9: Corridor Resources Inc., Total Natural Gas Production, bcf, Q3, 2013-Q3, 2014 15
Table 10: Corridor Resources Inc., Natural Gas Production, By Country/Region, bcf, Q3, 2013-Q3, 2014 16
Table 11: Corridor Resources Inc., Share Price Performance, 2009-2013 17
Table 12: Corridor Resources Inc., Key Valuation Metrics, 2009-2013 18
Table 13: Corridor Resources Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2009-2013 20
Table 14: Corridor Resources Inc., Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2009-2013 22
Table 15: Corridor Resources Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2009-2013 23
Table 16: Corridor Resources Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2009-2013 24
Table 17: Corridor Resources Inc., Crude Oil Production and Reserves, By Country/Region, mmbbl, 2009-2013 25
Table 18: Corridor Resources Inc., Crude Oil Reserve Changes, mmbbl, 2009-2013 26
Table 19: Corridor Resources Inc., Natural Gas Production and Reserves Metrics, bcf, 2009-2013 27
Table 20: Corridor Resources Inc., Natural Gas Production and Reserves, By Country/Region, bcf, 2009-2013 29
Table 21: Corridor Resources Inc., Natural Gas Reserve Changes, bcf, 2009-2013 30
Table 22: Corridor Resources Inc., Oil and Gas Reserves Life Index, Years, 2009-2013 31
Table 23: Corridor Resources Inc., Oil and Gas Reserves Life Index, By Country/Region, Years, 2009-2013 33
Table 24: Corridor Resources Inc., Upstream Capital Expenditure, US$ mil, 2009-2013 34
Table 25: Corridor Resources Inc., Exploration and Development Costs, By Country/Region, US$ mil, 2009-2013 36
Table 26: Corridor Resources Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2009-2013 38
Table 27: Corridor Resources Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2009-2013 40
Table 28: Corridor Resources Inc., Oil and Gas Production Replacement Ratio, %, 2009-2013 41
Table 29: Corridor Resources Inc., 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2009-2013 46
Table 30: Corridor Resources Inc., Revenue and Expenses, US$ mil, 2009-2013 47
Table 31: Corridor Resources Inc., Revenue and Expenses, By Country/Region, US$ mil, 2009-2013 52
Table 32: Corridor Resources Inc., Oil and Gas Revenue and Expenses, US$/boe, 2009-2013 53
Table 33: Corridor Resources Inc., Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2009-2013 57
Table 34: Corridor Resources Inc., Oil and Gas Performance Metrics, 2009-2013 58
Table 35: Corridor Resources Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2009-2013 59
Table 36: Corridor Resources Inc., Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2009-2013 61
Table 37: Corridor Resources Inc., Producible Oil and Gas Wells, 2009-2013 62
Table 38: Corridor Resources Inc., Producible Oil and Gas Wells, By Country/Region, 2009-2013 65
Table 39: Corridor Resources Inc., Exploratory and Developed Wells, 2009-2013 66
Table 40: Corridor Resources Inc., Exploratory and Developed Wells, By Country/Region, 2009-2013 67

List of Figures
Figure 1: Corridor Resources Inc., Share Price Performance, CAD/Share, Q3, 2013-Q3, 2014 8
Figure 2: Corridor Resources Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q3, 2013-Q3, 2014 9
Figure 3: Corridor Resources Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q3, 2013-Q3, 2014 10
Figure 4: Corridor Resources Inc., Upstream Capital Expenditure, US$ mil, Q3, 2013-Q3, 2014 12
Figure 5: Corridor Resources Inc., Total Crude Oil and Natural Gas, Production, mmboe, Q3, 2013-Q3, 2014 13
Figure 6: Corridor Resources Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q3, 2013-Q3, 2014 14
Figure 7: Corridor Resources Inc., Total Natural Gas Production, bcf, Q3, 2013-Q3, 2014 15
Figure 8: Corridor Resources Inc., Natural Gas Production, By Country/Region, bcf, Q3, 2013-Q3, 2014 16
Figure 9: Corridor Resources Inc., Share Price Performance, CAD/Share, 2009-2013 17
Figure 10: Corridor Resources Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2009-2013 18
Figure 11: Corridor Resources Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2009-2013 19
Figure 12: Corridor Resources Inc., Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2009-2013 21
Figure 13: Corridor Resources Inc., Total Oil & Gas Production, By Country/Region, mmboe, 2009-2013 21
Figure 14: Corridor Resources Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2013 23
Figure 15: Corridor Resources Inc., Oil Reserves, End of Period, By Country/Region, mmbbl, 2009-2013 25
Figure 16: Corridor Resources Inc., Natural Gas Production and Reserves Metrics, bcf, 2009-2013 27
Figure 17: Corridor Resources Inc., Gas Reserves, End of Period, By Country/Region, bcf, 2009-2013 28
Figure 18: Corridor Resources Inc., Gas Production, By Country/Region, bcf, 2009-2013 28
Figure 19: Corridor Resources Inc., Natural Gas Reserve Changes, bcf, 2013 30
Figure 20: Corridor Resources Inc., Oil and Gas Reserves Life Index, Years, 2009-2013 31
Figure 21: Corridor Resources Inc., Gas Reserve Life Index, By Country/Region, Years, 2009-2013 32
Figure 22: Corridor Resources Inc., Oil & Gas Reserve Life Index, By Country/Region, Years, 2009-2013 32
Figure 23: Corridor Resources Inc., Oil Reserve Life Index, By Country/Region, Years, 2009-2013 33
Figure 24: Corridor Resources Inc., Upstream Capital Expenditure, US$ mil, 2009-2013 34
Figure 25: Corridor Resources Inc., Development Costs, By Country/Region, US$ mil, 2009-2013 35
Figure 26: Corridor Resources Inc., Exploration Costs, By Country/Region, US$ mil, 2009-2013 35
Figure 27: Corridor Resources Inc., 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2009-2013 37
Figure 28: Corridor Resources Inc., Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2009-2013 39
Figure 29: Corridor Resources Inc., Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2009-2013 39
Figure 30: Corridor Resources Inc., Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2009-2013 40
Figure 31: Corridor Resources Inc., 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2009-2013 41
Figure 32: Corridor Resources Inc., 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2009-2013 43
Figure 33: Corridor Resources Inc., 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2009-2013 43
Figure 34: Corridor Resources Inc., 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2009-2013 44
Figure 35: Corridor Resources Inc., 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2009-2013 44
Figure 36: Corridor Resources Inc., 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2009-2013 45
Figure 37: Corridor Resources Inc., 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2009-2013 45
Figure 38: Corridor Resources Inc., Revenue and Expenses, US$ mil, 2009-2013 47
Figure 39: Corridor Resources Inc., Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 48
Figure 40: Corridor Resources Inc., Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 48
Figure 41: Corridor Resources Inc., Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 49
Figure 42: Corridor Resources Inc., Oil & Gas Revenue, By Country/Region, US$ mil, 2009-2013 49
Figure 43: Corridor Resources Inc., Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 50
Figure 44: Corridor Resources Inc., Production Costs, By Country/Region, US$ mil, 2009-2013 50
Figure 45: Corridor Resources Inc., Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 51
Figure 46: Corridor Resources Inc., Oil and Gas Revenue and Expenses, US$/boe, 2009-2013 53
Figure 47: Corridor Resources Inc., Income Tax/(Benefit) per boe, By Country/Region, US$/boe, 2009-2013 54
Figure 48: Corridor Resources Inc., Lifting Cost per boe, By Country/Region, US$/boe, 2009-2013 54
Figure 49: Corridor Resources Inc., Annual Net Income per boe, By Country/Region, US$/boe, 2009-2013 55
Figure 50: Corridor Resources Inc., Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2009-2013 55
Figure 51: Corridor Resources Inc., Total DD&A per boe, By Country/Region, US$/boe, 2009-2013 56
Figure 52: Corridor Resources Inc., Total Revenue per boe, By Country/Region, US$/boe, 2009-2013 56
Figure 53: Corridor Resources Inc., Oil and Gas Performance Metrics, 2009-2013 58
Figure 54: Corridor Resources Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2009-2013 59
Figure 55: Corridor Resources Inc., Total Gross Undeveloped Acreage, By Country/Region, Acres, 2009-2013 60
Figure 56: Corridor Resources Inc., Total Net Undeveloped Acreage, By Country/Region, Acres, 2009-2013 60
Figure 57: Corridor Resources Inc., Producible Oil and Gas Wells, 2009-2013 62
Figure 58: Corridor Resources Inc., Gross Productive Gas Wells, By Country/Region, Number, 2009-2013 63
Figure 59: Corridor Resources Inc., Gross Productive Oil & Gas Wells, By Country/Region, Number, 2009-2013 63
Figure 60: Corridor Resources Inc., Net/Gross Oil & Gas Ratio, By Country/Region, %, 2009-2013 64
Figure 61: Corridor Resources Inc., Net Productive Gas Wells, By Country/Region, Number, 2009-2013 64
Figure 62: Corridor Resources Inc., Net Productive Oil & Gas Wells, By Country/Region, Number, 2009-2013 65


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