Gran Tierra Energy Inc. Oil & Gas Exploration and Production Operations and Cost Analysis - Q1, 2016

 Published On: Aug, 2016 |    No of Pages: 104 |  Published By: GlobalData | Format: PDF
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Summary

Gran Tierra Energy 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 metrics, analysis and provides a strategic insight into the company. The report provides an annual and quarterly overview of oil and gas reserves and production, changes in reserves, costs incurred and results of oil and gas operations, acreage and well details, share price performance and key valuation metrics.

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 following -
- The report provides detailed and unique insight information on the key operational metrics. It gives a comprehensive overview of oil and gas production and reserves, costs incurred and results of oil and gas operations, acreage and well details and other performance metrics.
- Provides details with respect to the company’s oil and gas reserves and production information by country. It further consists of in-depth information on the company’s expenditures in relation to the acquisition, exploration and development activities; developed and undeveloped acreage position; key costs and revenue information; and performance metrics of the company as disclosed in its annual reports and regulatory filings.
- Provides a comprehensive overview of the company’s share price performance and key valuation metrics such as market capitalization, enterprise value, EV/Production ($boe/d) and EV/Proved Reserve ($/boe)
- Provides information on key operational and financial metrics on an annual and quarterly basis. The annual information provided is for a five-year period and the quarterly information is for the last five quarters.

*Note:

1. The scope mentioned above is generic and may not apply to all the companies. The report is based on the information disclosed by the companies in their annual and quarterly reports, regulatory filings and other company documents and sources.
2. Quarterly information is provided only for the companies that are December ending and files quarter reports and documents.
3. There can be cases where countries/regions data column/Charts will be blank. This can be due to the fact that the company might have discontinued the reporting of those countries/regions. Information that is not disclosed by the company may not be available in the report.

Reasons to buy

The report will enhance your decision making capability in a more rapid and time sensitive manner. It will allow you to -
- Be up-to-date with the latest information and in-depth analysis of the operational metrics of the company.
- Identify M&A targets from up-to-date information and in-depth analysis on financial and operational metrics of your competitors.
- Rank your performance against other companies in the exploration and production (E&P) sector 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 metrics.
- 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 8
Key Information 8
Company Overview 8
Gran Tierra Energy Inc., Valuation and Financial Data 9
Gran Tierra Energy Inc., Share Price Performance 9
Share Price Performance, Q1, 2015-Q1, 2016 9
Gran Tierra Energy Inc., Key Valuation Metrics 10
Key Valuation Metrics, Q1, 2015-Q1, 2016 10
Gran Tierra Energy Inc., Quarterly Results of Oil & Gas Operations Per boe Produced 11
Results of Oil & Gas Operations Per boe Produced, Q1, 2015-Q1, 2016 11
Results of Oil & Gas Operations Per boe Growth Rates, Q1, 2015-Q1, 2016 12
Gran Tierra Energy Inc., Quarterly E&P Costs Trends 13
Upstream Capital Expenditure, Q1, 2015-Q1, 2016 13
Gran Tierra Energy Inc., Quarterly Production Trends 14
Gran Tierra Energy Inc., Total Oil and Gas Production 14
Total Crude Oil and Natural Gas Production Trend, Q1, 2015-Q1, 2016 14
Total Crude Oil & Natural Gas Production, By Country/Region, Q1, 2015-Q1, 2016 15
Gran Tierra Energy Inc., Crude Oil Production 16
Total Crude Oil Production Trend, Q1, 2015-Q1, 2016 16
Crude Oil Production, By Country/Region, Q1, 2015-Q1, 2016 17
Gran Tierra Energy Inc., Natural Gas Production 18
Total Natural Gas Production Trend, Q1, 2015-Q1, 2016 18
Natural Gas Production, By Country/Region, Q1, 2015-Q1, 2016 19
Gran Tierra Energy Inc., Valuation and Financial Data, 2011-2015 20
Gran Tierra Energy Inc., Share Price Performance, 2011-2015 20
Share Price Performance, 2011-2015 20
Key Valuation Metrics, 2011-2015 21
Gran Tierra Energy Inc., Production and Reserves Trends 22
Total Oil and Gas, Reserves and Production 22
Total Crude Oil and Natural Gas Production and Reserves Trend, 2011-2015 22
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2011-2015 24
Total Crude Oil and Natural Gas Reserve Changes, 2011-2015 26
Crude Oil/Liquids Production and Reserve 27
Crude Oil/Liquids Production and Reserve Trend, 2011-2015 27
Crude Oil Production and Reserves By Country/Region, 2011-2015 28
Crude Oil/Liquids Reserve Changes, 2011-2015 30
Natural Gas Production and Reserve 31
Natural Gas Production and Reserve Trend, 2011-2015 31
Natural Gas Production and Reserves, By Country/Region, 2011-2015 32
Natural Gas Reserve Changes, 2011-2015 34
Total Crude Oil and Natural Gas Reserves Life Index 35
Total Crude Oil and Natural Gas Reserves Life Index, 2011-2015 35
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2011-2015 36
Gran Tierra Energy Inc., E&P Costs Trends 38
Allocation of the Upstream Capital Expenditure 38
Upstream Capital Expenditure, 2011-2015 38
Exploration and Development Costs, By Country/Region, 2011-2015 39
Oil and Gas Cost Per boe, US$/boe 41
Oil and Gas Cost Per boe, US$/boe, 2011-2015 41
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2011-2015 43
Gran Tierra Energy Inc., Reserve Replacement Ratio 45
Oil and Gas Production Replacement Ratio 45
Oil and Gas Production Replacement Ratio, 2011-2015 45
Oil and Gas Production Replacement Ratio, By Country/Region, 2011-2015 47
Gran Tierra Energy Inc., Results of Oil & Gas Operations Trend 51
Oil and Gas Revenue and Expenses 51
Oil and Gas Revenue and Expenses, 2011-2015 51
Oil and Gas Revenue and Expenses, By Country/Region, 2011-2015 52
Oil and Gas Revenue and Expenses, Per boe 57
Oil and Gas Revenue and Expenses, By boe, 2011-2015 57
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2011-2015 58
Oil and Gas Performance Metrics 62
Gran Tierra Energy Inc., Land Holdings and Well Data 63
Developed and Undeveloped Acreage 63
Gross and Net Developed and Undeveloped Acreage, 2011-2015 63
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2011-2015 64
Well Statistics 67
Producible Oil and Gas Well, 2011-2015 67
Producible Oil and Gas Well, By Country/Region, 2011-2015 68
Exploration and Development Wells Drilled, 2011-2015 72
Recent Developments 73
Gran Tierra Energy Inc. - Recent Developments 73
Jun 24, 2016: Gran Tierra Energy Announces New Executive Appointments 73
Jun 08, 2016: Gran Tierra Energy Announces Colombian Peso Hedging Program 74
May 31, 2016: Gran Tierra Announces Increase In 2016 Exploration Capital Budget, Hedging Program, Credit Facilities Update And An Operations Update 74
May 04, 2016: Gran Tierra Energy Announces First Quarter 2016 Results Highlighted By 11% Quarterly Production Growth And Balance Sheet Strength 75
Feb 29, 2016: Gran Tierra Energy Announces Fourth Quarter And Year-End Results For 2015 80
Jan 21, 2016: Gran Tierra Energy Announces 2015 Year-End Reserves And Combined Pro Forma Reserves And Resources 84
Jan 18, 2016: Gran Tierra Energy Announces 2016 Capital Budget And Guidance 86
Nov 03, 2015: Gran Tierra Energy Announces Third Quarter 2015 Results 88
Sep 21, 2015: Gran Tierra Announces New, Increased Credit Facility 92
Aug 04, 2015: Gran Tierra Energy Announces Second Quarter 2015 Results 93
Appendix 102
Methodology 102
Coverage 102
Secondary Research 102
Primary Research 102
Data Information Sources 103
Company Source 103
SEC/Other Regulatory Filings 103
Other Sources 103
Expert Panel Validation 103
Data Definition 103
Oil and Gas Reserves 103
Units of Measure 104
About GlobalData 104
Disclosure 104
Disclaimer 104

List of Tables
Table 1: Gran Tierra Energy Inc., Key Facts 8
Table 2: Gran Tierra Energy Inc., Share Price Performance, Q1, 2015-Q1, 2016 9
Table 3: Gran Tierra Energy Inc., Key Valuation Metrics, Q1, 2015-Q1, 2016 10
Table 4: Gran Tierra Energy Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q1, 2015-Q1, 2016 11
Table 5: Gran Tierra Energy Inc., Results of Oil & Gas Operations Per boe Growth Rates, %, Q1, 2015-Q1, 2016 12
Table 6: Gran Tierra Energy Inc., Upstream Capital Expenditure, Q1, 2015-Q1, 2016 13
Table 7: Gran Tierra Energy Inc., Total Crude Oil and Natural Gas, Production, Q1, 2015-Q1, 2016 14
Table 8: Gran Tierra Energy Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q1, 2015-Q1, 2016 15
Table 9: Gran Tierra Energy Inc., Total Crude Oil Production, mmbbl, Q1, 2015-Q1, 2016 16
Table 10: Gran Tierra Energy Inc., Crude Oil Production, By Country/Region, mmbbl, Q1, 2015-Q1, 2016 17
Table 11: Gran Tierra Energy Inc., Total Natural Gas Production, bcf, Q1, 2015-Q1, 2016 18
Table 12: Gran Tierra Energy Inc., Natural Gas Production, By Country/Region, bcf, Q1, 2015-Q1, 2016 19
Table 13: Gran Tierra Energy Inc., Share Price Performance, 2011-2015 20
Table 14: Gran Tierra Energy Inc., Key Valuation Metrics, 2011-2015 21
Table 15: Gran Tierra Energy Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 23
Table 16: Gran Tierra Energy Inc., Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2011-2015 25
Table 17: Gran Tierra Energy Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2011-2015 26
Table 18: Gran Tierra Energy Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 27
Table 19: Gran Tierra Energy Inc., Crude Oil Production and Reserves, By Country/Region, mmbbl, 2011-2015 29
Table 20: Gran Tierra Energy Inc., Crude Oil Reserve Changes, mmbbl, 2011-2015 30
Table 21: Gran Tierra Energy Inc., Natural Gas Production and Reserves Metrics, bcf, 2011-2015 31
Table 22: Gran Tierra Energy Inc., Natural Gas Production and Reserves, By Country/Region, bcf, 2011-2015 33
Table 23: Gran Tierra Energy Inc., Natural Gas Reserve Changes, bcf, 2011-2015 34
Table 24: Gran Tierra Energy Inc., Oil and Gas Reserves Life Index, Years, 2011-2015 35
Table 25: Gran Tierra Energy Inc., Oil and Gas Reserves Life Index, By Country/Region, Years, 2011-2015 37
Table 26: Gran Tierra Energy Inc., Upstream Capital Expenditure, US$ mil, 2011-2015 38
Table 27: Gran Tierra Energy Inc., Exploration and Development Costs, By Country/Region, US$ mil, 2011-2015 40
Table 28: Gran Tierra Energy Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 42
Table 29: Gran Tierra Energy Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2011-2015 44
Table 30: Gran Tierra Energy Inc., Oil and Gas Production Replacement Ratio, %, 2011-2015 46
Table 31: Gran Tierra Energy Inc., 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2011-2015 50
Table 32: Gran Tierra Energy Inc., Revenue and Expenses, US$ mil, 2011-2015 51
Table 33: Gran Tierra Energy Inc., Revenue and Expenses, By Country/Region, US$ mil, 2011-2015 56
Table 34: Gran Tierra Energy Inc., Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 57
Table 35: Gran Tierra Energy Inc., Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2011-2015 61
Table 36: Gran Tierra Energy Inc., Oil and Gas Performance Metrics, 2011-2015 62
Table 37: Gran Tierra Energy Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 63
Table 38: Gran Tierra Energy Inc., Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2011-2015 66
Table 39: Gran Tierra Energy Inc., Producible Oil and Gas Wells, 2011-2015 67
Table 40: Gran Tierra Energy Inc., Producible Oil and Gas Wells, By Country/Region, 2011-2015 71
Table 41: Gran Tierra Energy Inc., Exploratory and Developed Wells, 2011-2015 72

List of Figures
Figure 1: Gran Tierra Energy Inc., Share Price Performance, USD/Share, Q1, 2015-Q1, 2016 9
Figure 2: Gran Tierra Energy Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q1, 2015-Q1, 2016 10
Figure 3: Gran Tierra Energy Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q1, 2015-Q1, 2016 11
Figure 4: Gran Tierra Energy Inc., Upstream Capital Expenditure, US$ mil, Q1, 2015-Q1, 2016 13
Figure 5: Gran Tierra Energy Inc., Total Crude Oil and Natural Gas, Production, mmboe, Q1, 2015-Q1, 2016 14
Figure 6: Gran Tierra Energy Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q1, 2015-Q1, 2016 15
Figure 7: Gran Tierra Energy Inc., Total Crude Oil Production, mmbbl, Q1, 2015-Q1, 2016 16
Figure 8: Gran Tierra Energy Inc., Crude Oil Production, By Country/Region, mmbbl, Q1, 2015-Q1, 2016 17
Figure 9: Gran Tierra Energy Inc., Total Natural Gas Production, bcf, Q1, 2015-Q1, 2016 18
Figure 10: Gran Tierra Energy Inc., Natural Gas Production, By Country/Region, bcf, Q1, 2015-Q1, 2016 19
Figure 11: Gran Tierra Energy Inc., Share Price Performance, USD/Share, 2011-2015 20
Figure 12: Gran Tierra Energy Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2011-2015 21
Figure 13: Gran Tierra Energy Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 22
Figure 14: Gran Tierra Energy Inc., Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2011-2015 24
Figure 15: Gran Tierra Energy Inc., Total Oil & Gas Production, By Country/Region, mmboe, 2011-2015 24
Figure 16: Gran Tierra Energy Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2015 26
Figure 17: Gran Tierra Energy Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 27
Figure 18: Gran Tierra Energy Inc., Oil Reserves, End of Period, By Country/Region, mmbbl, 2011-2015 28
Figure 19: Gran Tierra Energy Inc., Oil Production, By Country/Region, mmbbl, 2011-2015 28
Figure 20: Gran Tierra Energy Inc., Crude Oil Reserve Changes, mmbbl, 2015 30
Figure 21: Gran Tierra Energy Inc., Natural Gas Production and Reserves Metrics, bcf, 2011-2015 31
Figure 22: Gran Tierra Energy Inc., Gas Reserves, End of Period, By Country/Region, bcf, 2011-2015 32
Figure 23: Gran Tierra Energy Inc., Gas Production, By Country/Region, bcf, 2011-2015 32
Figure 24: Gran Tierra Energy Inc., Natural Gas Reserve Changes, bcf, 2015 34
Figure 25: Gran Tierra Energy Inc., Oil and Gas Reserves Life Index, Years, 2011-2015 35
Figure 26: Gran Tierra Energy Inc., Gas Reserve Life Index, By Country/Region, Years, 2011-2015 36
Figure 27: Gran Tierra Energy Inc., Oil & Gas Reserve Life Index, By Country/Region, Years, 2011-2015 36
Figure 28: Gran Tierra Energy Inc., Oil Reserve Life Index, By Country/Region, Years, 2011-2015 37
Figure 29: Gran Tierra Energy Inc., Upstream Capital Expenditure, US$ mil, 2011-2015 38
Figure 30: Gran Tierra Energy Inc., Development Costs, By Country/Region, US$ mil, 2011-2015 39
Figure 31: Gran Tierra Energy Inc., Exploration Costs, By Country/Region, US$ mil, 2011-2015 39
Figure 32: Gran Tierra Energy Inc., 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 41
Figure 33: Gran Tierra Energy Inc., Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 43
Figure 34: Gran Tierra Energy Inc., Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 43
Figure 35: Gran Tierra Energy Inc., Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 44
Figure 36: Gran Tierra Energy Inc., 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2011-2015 45
Figure 37: Gran Tierra Energy Inc., 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2011-2015 47
Figure 38: Gran Tierra Energy Inc., 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2011-2015 47
Figure 39: Gran Tierra Energy Inc., 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2011-2015 48
Figure 40: Gran Tierra Energy Inc., 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2011-2015 48
Figure 41: Gran Tierra Energy Inc., 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2011-2015 49
Figure 42: Gran Tierra Energy Inc., 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2011-2015 49
Figure 43: Gran Tierra Energy Inc., Revenue and Expenses, US$ mil, 2011-2015 51
Figure 44: Gran Tierra Energy Inc., Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 52
Figure 45: Gran Tierra Energy Inc., Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 52
Figure 46: Gran Tierra Energy Inc., Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 53
Figure 47: Gran Tierra Energy Inc., Oil & Gas Revenue, By Country/Region, US$ mil, 2011-2015 53
Figure 48: Gran Tierra Energy Inc., Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 54
Figure 49: Gran Tierra Energy Inc., Production Costs, By Country/Region, US$ mil, 2011-2015 54
Figure 50: Gran Tierra Energy Inc., Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 55
Figure 51: Gran Tierra Energy Inc., Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 57
Figure 52: Gran Tierra Energy Inc., Income Tax/(Benefit) per boe, By Country/Region, US$/boe, 2011-2015 58
Figure 53: Gran Tierra Energy Inc., Lifting Cost per boe, By Country/Region, US$/boe, 2011-2015 58
Figure 54: Gran Tierra Energy Inc., Annual Net Income per boe, By Country/Region, US$/boe, 2011-2015 59
Figure 55: Gran Tierra Energy Inc., Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2011-2015 59
Figure 56: Gran Tierra Energy Inc., Total DD&A per boe, By Country/Region, US$/boe, 2011-2015 60
Figure 57: Gran Tierra Energy Inc., Total Revenue per boe, By Country/Region, US$/boe, 2011-2015 60
Figure 58: Gran Tierra Energy Inc., Oil and Gas Performance Metrics, 2011-2015 62
Figure 59: Gran Tierra Energy Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 63
Figure 60: Gran Tierra Energy Inc., Total Gross Undeveloped Acreage, By Country/Region, Acres, 2011-2015 64
Figure 61: Gran Tierra Energy Inc., Total Net Undeveloped Acreage, By Country/Region, Acres, 2011-2015 64
Figure 62: Gran Tierra Energy Inc., Total Gross Developed Acreage, By Country/Region, Acres, 2011-2015 65
Figure 63: Gran Tierra Energy Inc., Total Net Developed Acreage, By Country/Region, Acres, 2011-2015 65
Figure 64: Gran Tierra Energy Inc., Producible Oil and Gas Wells, 2011-2015 67
Figure 65: Gran Tierra Energy Inc., Gross Productive Gas Wells, By Country/Region, Number, 2011-2015 68
Figure 66: Gran Tierra Energy Inc., Gross Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 68
Figure 67: Gran Tierra Energy Inc., Gross Productive Oil Wells, By Country/Region, Number, 2011-2015 69
Figure 68: Gran Tierra Energy Inc., Net/Gross Oil & Gas Ratio, By Country/Region, %, 2011-2015 69
Figure 69: Gran Tierra Energy Inc., Net Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 70
Figure 70: Gran Tierra Energy Inc., Net Productive Oil Wells, By Country/Region, Number, 2011-2015 70
Figure 71: Gran Tierra Energy Inc., Exploratory and Developed Wells, 2011-2015 72


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