Venoco, Inc. Oil & Gas Exploration and Production Operations and Cost Analysis - Q1, 2015

 Published On: Oct, 2015 |    No of Pages: 92 |  Published By: GlobalData | Format: PDF
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Summary

Venoco, 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 5
List of Figures 6
Company Snapshot 8
Key Information 8
Company Overview 8
Venoco, Inc., Key Valuation Metrics 9
Key Valuation Metrics, Q1, 2014-Q1, 2015 9
Venoco, Inc., Quarterly Results of Oil & Gas Operations Per boe Produced 10
Results of Oil & Gas Operations Per boe Produced, Q1, 2014-Q1, 2015 10
Results of Oil & Gas Operations Per boe Growth Rates, Q1, 2014-Q1, 2015 11
Venoco, Inc., Quarterly E&P Costs Trends 12
Upstream Capital Expenditure, Q1, 2014-Q1, 2015 12
Venoco, Inc., Quarterly Production Trends 13
Venoco, Inc., Total Oil and Gas Production 13
Total Crude Oil and Natural Gas Production Trend, Q1, 2014-Q1, 2015 13
Total Crude Oil & Natural Gas Production, By Country/Region, Q1, 2014-Q1, 2015 14
Venoco, Inc., Crude Oil Production 15
Total Crude Oil Production Trend, Q1, 2014-Q1, 2015 15
Crude Oil Production, By Country/Region, Q1, 2014-Q1, 2015 16
Venoco, Inc., Natural Gas Production 17
Total Natural Gas Production Trend, Q1, 2014-Q1, 2015 17
Natural Gas Production, By Country/Region, Q1, 2014-Q1, 2015 18
Venoco, Inc., Valuation and Financial Data, 2010-2014 19
Venoco, Inc., Share Price Performance, 2010-2014 19
Share Price Performance, 2010-2014 19
Key Valuation Metrics, 2010-2014 20
Venoco, Inc., Production and Reserves Trends 21
Total Oil and Gas, Reserves and Production 21
Total Crude Oil and Natural Gas Production and Reserves Trend, 2010-2014 21
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2010-2014 23
Total Crude Oil and Natural Gas Reserve Changes, 2010-2014 25
Crude Oil/Liquids Production and Reserve 26
Crude Oil/Liquids Production and Reserve Trend, 2010-2014 26
Crude Oil Production and Reserves By Country/Region, 2010-2014 27
Crude Oil/Liquids Reserve Changes, 2010-2014 29
Natural Gas Production and Reserve 30
Natural Gas Production and Reserve Trend, 2010-2014 30
Natural Gas Production and Reserves, By Country/Region, 2010-2014 31
Natural Gas Reserve Changes, 2010-2014 33
Total Crude Oil and Natural Gas Reserves Life Index 34
Total Crude Oil and Natural Gas Reserves Life Index, 2010-2014 34
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2010-2014 35
Venoco, Inc., E&P Costs Trends 37
Allocation of the Upstream Capital Expenditure 37
Upstream Capital Expenditure, 2010-2014 37
Acquisition Costs By Country/Region, 2010-2014 38
Exploration and Development Costs, By Country/Region, 2010-2014 40
Oil and Gas Cost Per boe, US$/boe 42
Oil and Gas Cost Per boe, US$/boe, 2010-2014 42
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2010-2014 44
Venoco, Inc., Reserve Replacement Ratio 46
Oil and Gas Production Replacement Ratio 46
Oil and Gas Production Replacement Ratio, 2010-2014 46
Oil and Gas Production Replacement Ratio, By Country/Region, 2010-2014 48
Venoco, Inc., Results of Oil & Gas Operations Trend 52
Oil and Gas Revenue and Expenses 52
Oil and Gas Revenue and Expenses, 2010-2014 52
Oil and Gas Revenue and Expenses, By Country/Region, 2010-2014 53
Oil and Gas Revenue and Expenses, Per boe 58
Oil and Gas Revenue and Expenses, By boe, 2010-2014 58
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2010-2014 59
Oil and Gas Performance Metrics 63
Venoco, Inc., Land Holdings and Well Data 64
Developed and Undeveloped Acreage 64
Gross and Net Developed and Undeveloped Acreage, 2010-2014 64
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2010-2014 65
Well Statistics 68
Producible Oil and Gas Well, 2010-2014 68
Producible Oil and Gas Well, By Country/Region, 2010-2014 69
Exploration and Development Wells Drilled, 2010-2014 73
Exploration and Development Wells Drilled, By Country/Region, 2010-2014 75
Recent Developments 76
Venoco, Inc. - Recent Developments 76
Aug 19, 2015: Venoco Announces 2nd Quarter 2015 Financial And Operational Results 76
Jul 15, 2015: Venoco Announces Board of Directors Changes & Provides Operations Update 77
Jun 16, 2015: Venoco Announces Refinancing Of $75,000,000 Senior Term Loan 78
May 21, 2015: Venoco Provides Update On Impact On Operations From Plains All American Pipeline Incident 78
May 16, 2015: Venoco Announces First Quarter 2015 Financial And Operational Results 79
Apr 29, 2015: Venoco Announces CFO Changes 80
Apr 16, 2015: Venoco Announces Year-End 2014 Reserves And 4th Quarter And Full-Year 2014 Financial And Operational Results 81
Nov 20, 2014: Venoco Announces 3rd Quarter 2014 Financial And Operational Results 83
Aug 20, 2014: Venoco Announces 2nd Quarter 2014 Financial and Operational Results 86
May 16, 2014: Venoco Announces First Quarter 2014 Financial and Operational Results 87
Appendix 90
Methodology 90
Coverage 90
Secondary Research 90
Primary Research 90
Data Information Sources 91
Company Source 91
SEC/Other Regulatory Filings 91
Other Sources 91
Expert Panel Validation 91
Data Definition 91
Oil and Gas Reserves 91
Units of Measure 92
About GlobalData 92
Disclosure 92
Disclaimer 92

List of Tables
Table 1: Venoco, Inc., Key Facts 8
Table 2: Venoco, Inc., Key Valuation Metrics, Q1, 2014-Q1, 2015 9
Table 3: Venoco, Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q1, 2014-Q1, 2015 10
Table 4: Venoco, Inc., Results of Oil & Gas Operations Per boe Growth Rates, %, Q1, 2014-Q1, 2015 11
Table 5: Venoco, Inc., Upstream Capital Expenditure, Q1, 2014-Q1, 2015 12
Table 6: Venoco, Inc., Total Crude Oil and Natural Gas, Production, Q1, 2014-Q1, 2015 13
Table 7: Venoco, Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q1, 2014-Q1, 2015 14
Table 8: Venoco, Inc., Total Crude Oil Production, mmbbl, Q1, 2014-Q1, 2015 15
Table 9: Venoco, Inc., Crude Oil Production, By Country/Region, mmbbl, Q1, 2014-Q1, 2015 16
Table 10: Venoco, Inc., Total Natural Gas Production, bcf, Q1, 2014-Q1, 2015 17
Table 11: Venoco, Inc., Natural Gas Production, By Country/Region, bcf, Q1, 2014-Q1, 2015 18
Table 12: Venoco, Inc., Share Price Performance, 2010-2014 19
Table 13: Venoco, Inc., Key Valuation Metrics, 2010-2014 20
Table 14: Venoco, Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2010-2014 22
Table 15: Venoco, Inc., Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2010-2014 24
Table 16: Venoco, Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2010-2014 25
Table 17: Venoco, Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2010-2014 26
Table 18: Venoco, Inc., Crude Oil Production and Reserves, By Country/Region, mmbbl, 2010-2014 28
Table 19: Venoco, Inc., Crude Oil Reserve Changes, mmbbl, 2010-2014 29
Table 20: Venoco, Inc., Natural Gas Production and Reserves Metrics, bcf, 2010-2014 30
Table 21: Venoco, Inc., Natural Gas Production and Reserves, By Country/Region, bcf, 2010-2014 32
Table 22: Venoco, Inc., Natural Gas Reserve Changes, bcf, 2010-2014 33
Table 23: Venoco, Inc., Oil and Gas Reserves Life Index, Years, 2010-2014 34
Table 24: Venoco, Inc., Oil and Gas Reserves Life Index, By Country/Region, Years, 2010-2014 36
Table 25: Venoco, Inc., Upstream Capital Expenditure, US$ mil, 2010-2014 37
Table 26: Venoco, Inc., Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2010-2014 39
Table 27: Venoco, Inc., Exploration and Development Costs, By Country/Region, US$ mil, 2010-2014 41
Table 28: Venoco, Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2010-2014 43
Table 29: Venoco, Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2010-2014 45
Table 30: Venoco, Inc., Oil and Gas Production Replacement Ratio, %, 2010-2014 46
Table 31: Venoco, Inc., 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2010-2014 51
Table 32: Venoco, Inc., Revenue and Expenses, US$ mil, 2010-2014 52
Table 33: Venoco, Inc., Revenue and Expenses, By Country/Region, US$ mil, 2010-2014 57
Table 34: Venoco, Inc., Oil and Gas Revenue and Expenses, US$/boe, 2010-2014 58
Table 35: Venoco, Inc., Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2010-2014 62
Table 36: Venoco, Inc., Oil and Gas Performance Metrics, 2010-2014 63
Table 37: Venoco, Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2010-2014 64
Table 38: Venoco, Inc., Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2010-2014 67
Table 39: Venoco, Inc., Producible Oil and Gas Wells, 2010-2014 68
Table 40: Venoco, Inc., Producible Oil and Gas Wells, By Country/Region, 2010-2014 72
Table 41: Venoco, Inc., Exploratory and Developed Wells, 2010-2014 74
Table 42: Venoco, Inc., Exploratory and Developed Wells, By Country/Region, 2010-2014 75

List of Figures
Figure 1: Venoco, Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q1, 2014-Q1, 2015 10
Figure 2: Venoco, Inc., Upstream Capital Expenditure, US$ mil, Q1, 2014-Q1, 2015 12
Figure 3: Venoco, Inc., Total Crude Oil and Natural Gas, Production, mmboe, Q1, 2014-Q1, 2015 13
Figure 4: Venoco, Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q1, 2014-Q1, 2015 14
Figure 5: Venoco, Inc., Total Crude Oil Production, mmbbl, Q1, 2014-Q1, 2015 15
Figure 6: Venoco, Inc., Crude Oil Production, By Country/Region, mmbbl, Q1, 2014-Q1, 2015 16
Figure 7: Venoco, Inc., Total Natural Gas Production, bcf, Q1, 2014-Q1, 2015 17
Figure 8: Venoco, Inc., Natural Gas Production, By Country/Region, bcf, Q1, 2014-Q1, 2015 18
Figure 9: Venoco, Inc., Share Price Performance, USD/Share, 2010-2014 19
Figure 10: Venoco, Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2010-2014 20
Figure 11: Venoco, Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2010-2014 21
Figure 12: Venoco, Inc., Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2010-2014 23
Figure 13: Venoco, Inc., Total Oil & Gas Production, By Country/Region, mmboe, 2010-2014 23
Figure 14: Venoco, Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2014 25
Figure 15: Venoco, Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2010-2014 26
Figure 16: Venoco, Inc., Oil Reserves, End of Period, By Country/Region, mmbbl, 2010-2014 27
Figure 17: Venoco, Inc., Oil Production, By Country/Region, mmbbl, 2010-2014 27
Figure 18: Venoco, Inc., Crude Oil Reserve Changes, mmbbl, 2014 29
Figure 19: Venoco, Inc., Natural Gas Production and Reserves Metrics, bcf, 2010-2014 30
Figure 20: Venoco, Inc., Gas Reserves, End of Period, By Country/Region, bcf, 2010-2014 31
Figure 21: Venoco, Inc., Gas Production, By Country/Region, bcf, 2010-2014 31
Figure 22: Venoco, Inc., Natural Gas Reserve Changes, bcf, 2014 33
Figure 23: Venoco, Inc., Oil and Gas Reserves Life Index, Years, 2010-2014 34
Figure 24: Venoco, Inc., Gas Reserve Life Index, By Country/Region, Years, 2010-2014 35
Figure 25: Venoco, Inc., Oil & Gas Reserve Life Index, By Country/Region, Years, 2010-2014 35
Figure 26: Venoco, Inc., Oil Reserve Life Index, By Country/Region, Years, 2010-2014 36
Figure 27: Venoco, Inc., Upstream Capital Expenditure, US$ mil, 2010-2014 37
Figure 28: Venoco, Inc., Proved Acquisition Costs, By Country/Region, US$ mil, 2010-2014 38
Figure 29: Venoco, Inc., Unproved Acquisition Costs, By Country/Region, US$ mil, 2010-2014 38
Figure 30: Venoco, Inc., Development Costs, By Country/Region, US$ mil, 2010-2014 40
Figure 31: Venoco, Inc., Exploration Costs, By Country/Region, US$ mil, 2010-2014 40
Figure 32: Venoco, Inc., 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2010-2014 42
Figure 33: Venoco, Inc., Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2010-2014 44
Figure 34: Venoco, Inc., Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2010-2014 44
Figure 35: Venoco, Inc., Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2010-2014 45
Figure 36: Venoco, Inc., 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2010-2014 46
Figure 37: Venoco, Inc., 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2010-2014 48
Figure 38: Venoco, Inc., 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2010-2014 48
Figure 39: Venoco, Inc., 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2010-2014 49
Figure 40: Venoco, Inc., 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2010-2014 49
Figure 41: Venoco, Inc., 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2010-2014 50
Figure 42: Venoco, Inc., 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2010-2014 50
Figure 43: Venoco, Inc., Revenue and Expenses, US$ mil, 2010-2014 52
Figure 44: Venoco, Inc., Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 53
Figure 45: Venoco, Inc., Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 53
Figure 46: Venoco, Inc., Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 54
Figure 47: Venoco, Inc., Oil & Gas Revenue, By Country/Region, US$ mil, 2010-2014 54
Figure 48: Venoco, Inc., Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 55
Figure 49: Venoco, Inc., Production Costs, By Country/Region, US$ mil, 2010-2014 55
Figure 50: Venoco, Inc., Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 56
Figure 51: Venoco, Inc., Oil and Gas Revenue and Expenses, US$/boe, 2010-2014 58
Figure 52: Venoco, Inc., Income Tax/(Benefit) per boe, By Country/Region, US$/boe, 2010-2014 59
Figure 53: Venoco, Inc., Lifting Cost per boe, By Country/Region, US$/boe, 2010-2014 59
Figure 54: Venoco, Inc., Annual Net Income per boe, By Country/Region, US$/boe, 2010-2014 60
Figure 55: Venoco, Inc., Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2010-2014 60
Figure 56: Venoco, Inc., Total DD&A per boe, By Country/Region, US$/boe, 2010-2014 61
Figure 57: Venoco, Inc., Total Revenue per boe, By Country/Region, US$/boe, 2010-2014 61
Figure 58: Venoco, Inc., Oil and Gas Performance Metrics, 2010-2014 63
Figure 59: Venoco, Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2010-2014 64
Figure 60: Venoco, Inc., Total Gross Undeveloped Acreage, By Country/Region, Acres, 2010-2014 65
Figure 61: Venoco, Inc., Total Net Undeveloped Acreage, By Country/Region, Acres, 2010-2014 65
Figure 62: Venoco, Inc., Total Gross Developed Acreage, By Country/Region, Acres, 2010-2014 66
Figure 63: Venoco, Inc., Total Net Developed Acreage, By Country/Region, Acres, 2010-2014 66
Figure 64: Venoco, Inc., Producible Oil and Gas Wells, 2010-2014 68
Figure 65: Venoco, Inc., Gross Productive Gas Wells, By Country/Region, Number, 2010-2014 69
Figure 66: Venoco, Inc., Gross Productive Oil & Gas Wells, By Country/Region, Number, 2010-2014 69
Figure 67: Venoco, Inc., Gross Productive Oil Wells, By Country/Region, Number, 2010-2014 70
Figure 68: Venoco, Inc., Net/Gross Oil & Gas Ratio, By Country/Region, %, 2010-2014 70
Figure 69: Venoco, Inc., Net Productive Gas Wells, By Country/Region, Number, 2010-2014 71
Figure 70: Venoco, Inc., Net Productive Oil & Gas Wells, By Country/Region, Number, 2010-2014 71
Figure 71: Venoco, Inc., Net Productive Oil Wells, By Country/Region, Number, 2010-2014 72
Figure 72: Venoco, Inc., Exploratory and Developed Wells, 2010-2014 73


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