Ecopetrol S.A. Oil & Gas Exploration and Production Operations and Cost Analysis - Q1, 2017

 Published On: Aug, 2017 |    No of Pages: 72 |  Published By: GlobalData | Format: PDF
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Summary

Ecopetrol S.A. 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 6
Key Information 6
Company Overview 6
Ecopetrol S.A., Valuation and Financial Data 7
Ecopetrol S.A., Share Price Performance 7
Share Price Performance, Q1, 2016-Q1, 2017 7
Ecopetrol S.A., Key Valuation Metrics 8
Key Valuation Metrics, Q1, 2016-Q1, 2017 8
Ecopetrol S.A., Quarterly E&P Costs Trends 9
Upstream Capital Expenditure, Q1, 2016-Q1, 2017 9
Ecopetrol S.A., Quarterly Production Trends 10
Ecopetrol S.A., Total Oil and Gas Production 10
Total Crude Oil and Natural Gas Production Trend, Q1, 2016-Q1, 2017 10
Ecopetrol S.A., Crude Oil Production 12
Total Crude Oil Production Trend, Q1, 2016-Q1, 2017 12
Ecopetrol S.A., Natural Gas Production 13
Total Natural Gas Production Trend, Q1, 2016-Q1, 2017 13
Ecopetrol S.A., Valuation and Financial Data, 2012-2016 14
Ecopetrol S.A., Share Price Performance, 2012-2016 14
Share Price Performance, 2012-2016 14
Key Valuation Metrics, 2012-2016 15
Ecopetrol S.A., Production and Reserves Trends 16
Total Oil and Gas, Reserves and Production 16
Total Crude Oil and Natural Gas Production and Reserves Trend, 2012-2016 16
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2012-2016 18
Total Crude Oil and Natural Gas Reserve Changes, 2012-2016 19
Crude Oil/Liquids Production and Reserve 21
Crude Oil/Liquids Production and Reserve Trend, 2012-2016 21
Crude Oil Production and Reserves By Country/Region, 2012-2016 23
Crude Oil/Liquids Reserve Changes, 2012-2016 24
Natural Gas Production and Reserve 25
Natural Gas Production and Reserve Trend, 2012-2016 25
Natural Gas Production and Reserves, By Country/Region, 2012-2016 27
Natural Gas Reserve Changes, 2012-2016 28
Total Crude Oil and Natural Gas Reserves Life Index 29
Total Crude Oil and Natural Gas Reserves Life Index, 2012-2016 29
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2012-2016 30
Ecopetrol S.A., E&P Costs Trends 31
Allocation of the Upstream Capital Expenditure 31
Upstream Capital Expenditure, 2012-2016 31
Acquisition Costs By Country/Region, 2012-2016 33
Exploration and Development Costs, By Country/Region, 2012-2016 34
Oil and Gas Cost Per boe, US$/boe 35
Oil and Gas Cost Per boe, US$/boe, 2012-2016 35
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2012-2016 37
Ecopetrol S.A., Reserve Replacement Ratio 38
Oil and Gas Production Replacement Ratio 38
Oil and Gas Production Replacement Ratio, 2012-2016 38
Oil and Gas Production Replacement Ratio, By Country/Region, 2012-2016 41
Ecopetrol S.A., Results of Oil & Gas Operations Trend 42
Oil and Gas Revenue and Expenses 42
Oil and Gas Revenue and Expenses, 2012-2016 42
Oil and Gas Revenue and Expenses, By Country/Region, 2012-2016 44
Oil and Gas Revenue and Expenses, Per boe 45
Oil and Gas Revenue and Expenses, By boe, 2012-2016 45
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2012-2016 47
Oil and Gas Performance Metrics 48
Ecopetrol S.A., Land Holdings and Well Data 49
Developed and Undeveloped Acreage 49
Gross and Net Developed and Undeveloped Acreage, 2012-2016 49
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2012-2016 50
Well Statistics 54
Producible Oil and Gas Well, 2012-2016 54
Producible Oil and Gas Well, By Country/Region, 2012-2016 56
Exploration and Development Wells Drilled, 2012-2016 61
Exploration and Development Wells Drilled, By Country/Region, 2012-2016 63
Recent Developments 65
Ecopetrol S.A. - Recent Developments 65
Aug 17, 2017: Ecopetrol Board Of Directors Appoints New President 65
Aug 08, 2017: Ecopetrol Business Group Presents Its Second Quarter And First Half 2017 Results 65
Aug 02, 2017: Petronas Awarded Another Block In Mexico 67
Jul 28, 2017: Ecopetrol Announces New Hydrocarbon Discovery In Gulf Of Mexico (US) 67
Jul 13, 2017: Ecopetrol Approves Creation Of Subsidiary In Mexico 68
Jun 29, 2017: Ecopetrol Announces Early Repayment For USD $1,925 Million Of Syndicated Bank Loan With International Banking 68
Jun 20, 2017: Ecopetrol wins two blocks for hydrocarbon exploration and production in Mexican Shallow Waters 68
Jun 05, 2017: Gran Tierra Energy Provides Operations Update Highlighted By Continued Success With Costayaco A-Limestone, Acordionero Development And Putumayo Exploration 69
May 23, 2017: Ecopetrol Receives NYSE Notice Regarding Non-filing Of Annual Report On Form 20-F For Year Ended December 31, 2016 75
May 12, 2017: Ecopetrol Business Group Provides First Quarter 2017 Results 75
Appendix 77
Methodology 77
Coverage 77
Secondary Research 77
Primary Research 78
Data Information Sources 78
Company Source 78
SEC/Other Regulatory Filings 78
Other Sources 78
Expert Panel Validation 78
Data Definition 78
Oil and Gas Reserves 78
Units of Measure 79
About GlobalData 80
Disclosure 80
Disclaimer 80

List of Tables
Table 1: Ecopetrol S.A., Key Facts 6
Table 2: Ecopetrol S.A., Share Price Performance, Q1, 2016-Q1, 2017 7
Table 3: Ecopetrol S.A., Key Valuation Metrics, Q1, 2016-Q1, 2017 8
Table 4: Ecopetrol S.A., Upstream Capital Expenditure, Q1, 2016-Q1, 2017 9
Table 5: Ecopetrol S.A., Total Crude Oil and Natural Gas, Production, Q1, 2016-Q1, 2017 10
Table 6: Ecopetrol S.A., Total Crude Oil Production, mmbbl, Q1, 2016-Q1, 2017 12
Table 7: Ecopetrol S.A., Total Natural Gas Production, bcf, Q1, 2016-Q1, 2017 13
Table 8: Ecopetrol S.A., Share Price Performance, 2012-2016 14
Table 9: Ecopetrol S.A., Key Valuation Metrics, 2012-2016 15
Table 10: Ecopetrol S.A., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2012-2016 16
Table 11: Ecopetrol S.A., Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2012-2016 18
Table 12: Ecopetrol S.A., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2012-2016 19
Table 13: Ecopetrol S.A., Crude Oil Production and Reserves Metrics, mmbbl, 2012-2016 21
Table 14: Ecopetrol S.A., Crude Oil Production and Reserves, By Country/Region, mmbbl, 2012-2016 23
Table 15: Ecopetrol S.A., Crude Oil Reserve Changes, mmbbl, 2012-2016 24
Table 16: Ecopetrol S.A., Natural Gas Production and Reserves Metrics, bcf, 2012-2016 25
Table 17: Ecopetrol S.A., Natural Gas Production and Reserves, By Country/Region, bcf, 2012-2016 27
Table 18: Ecopetrol S.A., Natural Gas Reserve Changes, bcf, 2012-2016 28
Table 19: Ecopetrol S.A., Oil and Gas Reserves Life Index, Years, 2012-2016 29
Table 20: Ecopetrol S.A., Oil and Gas Reserves Life Index, By Country/Region, Years, 2012-2016 30
Table 21: Ecopetrol S.A., Upstream Capital Expenditure, US$ mil, 2012-2016 31
Table 22: Ecopetrol S.A., Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2012-2016 33
Table 23: Ecopetrol S.A., Exploration and Development Costs, By Country/Region, US$ mil, 2012-2016 34
Table 24: Ecopetrol S.A., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2012-2016 35
Table 25: Ecopetrol S.A., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2012-2016 37
Table 26: Ecopetrol S.A., Oil and Gas Production Replacement Ratio, %, 2012-2016 38
Table 27: Ecopetrol S.A., 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2012-2016 41
Table 28: Ecopetrol S.A., Revenue and Expenses, US$ mil, 2012-2016 42
Table 29: Ecopetrol S.A., Revenue and Expenses, By Country/Region, US$ mil, 2012-2016 44
Table 30: Ecopetrol S.A., Oil and Gas Revenue and Expenses, US$/boe, 2012-2016 45
Table 31: Ecopetrol S.A., Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2012-2016 47
Table 32: Ecopetrol S.A., Oil and Gas Performance Metrics, 2012-2016 48
Table 33: Ecopetrol S.A., Land Holdings (Developed and Undeveloped Acreage), Acres, 2012-2016 49
Table 34: Ecopetrol S.A., Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2012-2016 52
Table 35: Ecopetrol S.A., Producible Oil and Gas Wells, 2012-2016 54
Table 36: Ecopetrol S.A., Producible Oil and Gas Wells, By Country/Region, 2012-2016 60
Table 37: Ecopetrol S.A., Exploratory and Developed Wells, 2012-2016 61
Table 38: Ecopetrol S.A., Exploratory and Developed Wells, By Country/Region, 2012-2016 63

List of Figures
Figure 1: Ecopetrol S.A., Share Price Performance, USD/Share, Q1, 2016-Q1, 2017 7
Figure 2: Ecopetrol S.A., Upstream Capital Expenditure, US$ mil, Q1, 2016-Q1, 2017 9
Figure 3: Ecopetrol S.A., Total Crude Oil and Natural Gas, Production, mmboe, Q1, 2016-Q1, 2017 10
Figure 4: Ecopetrol S.A., Total Crude Oil Production, mmbbl, Q1, 2016-Q1, 2017 12
Figure 5: Ecopetrol S.A., Total Natural Gas Production, bcf, Q1, 2016-Q1, 2017 13
Figure 6: Ecopetrol S.A., Share Price Performance, USD/Share, 2012-2016 14
Figure 7: Ecopetrol S.A., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2012-2016 15
Figure 8: Ecopetrol S.A., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2012-2016 16
Figure 9: Ecopetrol S.A., Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2012-2016 18
Figure 10: Ecopetrol S.A., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2016 19
Figure 11: Ecopetrol S.A., Crude Oil Production and Reserves Metrics, mmbbl, 2012-2016 21
Figure 12: Ecopetrol S.A., Oil Reserves, End of Period, By Country/Region, mmbbl, 2012-2016 23
Figure 13: Ecopetrol S.A., Crude Oil Reserve Changes, mmbbl, 2016 24
Figure 14: Ecopetrol S.A., Natural Gas Production and Reserves Metrics, bcf, 2012-2016 25
Figure 15: Ecopetrol S.A., Gas Reserves, End of Period, By Country/Region, bcf, 2012-2016 27
Figure 16: Ecopetrol S.A., Natural Gas Reserve Changes, bcf, 2016 28
Figure 17: Ecopetrol S.A., Oil and Gas Reserves Life Index, Years, 2012-2016 29
Figure 18: Ecopetrol S.A., Upstream Capital Expenditure, US$ mil, 2012-2016 31
Figure 19: Ecopetrol S.A., 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2012-2016 35
Figure 20: Ecopetrol S.A., 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2012-2016 38
Figure 21: Ecopetrol S.A., Revenue and Expenses, US$ mil, 2012-2016 42
Figure 22: Ecopetrol S.A., Oil and Gas Revenue and Expenses, US$/boe, 2012-2016 45
Figure 23: Ecopetrol S.A., Oil and Gas Performance Metrics, 2012-2016 48
Figure 24: Ecopetrol S.A., Land Holdings (Developed and Undeveloped Acreage), Acres, 2012-2016 49
Figure 25: Ecopetrol S.A., Total Gross Undeveloped Acreage, By Country/Region, Acres, 2012-2016 50
Figure 26: Ecopetrol S.A., Total Net Undeveloped Acreage, By Country/Region, Acres, 2012-2016 50
Figure 27: Ecopetrol S.A., Total Gross Developed Acreage, By Country/Region, Acres, 2012-2016 51
Figure 28: Ecopetrol S.A., Total Net Developed Acreage, By Country/Region, Acres, 2012-2016 51
Figure 29: Ecopetrol S.A., Producible Oil and Gas Wells, 2012-2016 54
Figure 30: Ecopetrol S.A., Gross Productive Gas Wells, By Country/Region, Number, 2012-2016 56
Figure 31: Ecopetrol S.A., Gross Productive Oil & Gas Wells, By Country/Region, Number, 2012-2016 56
Figure 32: Ecopetrol S.A., Gross Productive Oil Wells, By Country/Region, Number, 2012-2016 57
Figure 33: Ecopetrol S.A., Net/Gross Oil & Gas Ratio, By Country/Region, %, 2012-2016 57
Figure 34: Ecopetrol S.A., Net Productive Gas Wells, By Country/Region, Number, 2012-2016 58
Figure 35: Ecopetrol S.A., Net Productive Oil & Gas Wells, By Country/Region, Number, 2012-2016 59
Figure 36: Ecopetrol S.A., Net Productive Oil Wells, By Country/Region, Number, 2012-2016 59
Figure 37: Ecopetrol S.A., Exploratory and Developed Wells, 2012-2016 61


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