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

 Published On: Jan, 2015 |    No of Pages: 87 |  Published By: GlobalData | Format: PDF
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Summary

Parex 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
Parex Resources Inc., Valuation and Financial Data 8
Parex Resources Inc., Share Price Performance 8
Share Price Performance, Q3, 2013-Q3, 2014 8
Parex Resources Inc., Key Valuation Metrics 9
Key Valuation Metrics, Q3, 2013-Q3, 2014 9
Parex 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
Parex Resources Inc., Quarterly E&P Costs Trends 12
Upstream Capital Expenditure, Q3, 2013-Q3, 2014 12
Parex Resources Inc., Quarterly Production Trends 13
Parex 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
Parex Resources Inc., Crude Oil Production 15
Total Crude Oil Production Trend, Q3, 2013-Q3, 2014 15
Crude Oil Production, By Country/Region, Q3, 2013-Q3, 2014 16
Parex Resources Inc., Valuation and Financial Data, 2009-2013 17
Parex Resources Inc., Share Price Performance, 2009-2013 17
Share Price Performance, 2009-2013 17
Key Valuation Metrics, 2009-2013 18
Parex 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 20
Total Crude Oil and Natural Gas Reserve Changes, 2009-2013 22
Crude Oil/Liquids Production and Reserve 23
Crude Oil/Liquids Production and Reserve Trend, 2009-2013 23
Crude Oil Production and Reserves By Country/Region, 2009-2013 24
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 29
Total Crude Oil and Natural Gas Reserves Life Index 30
Total Crude Oil and Natural Gas Reserves Life Index, 2009-2013 30
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2009-2013 31
Parex Resources Inc., E&P Costs Trends 33
Allocation of the Upstream Capital Expenditure 33
Upstream Capital Expenditure, 2009-2013 33
Acquisition Costs By Country/Region, 2009-2013 34
Exploration and Development Costs, By Country/Region, 2009-2013 36
Oil and Gas Cost Per boe, US$/boe 38
Oil and Gas Cost Per boe, US$/boe, 2009-2013 38
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2009-2013 40
Parex Resources Inc., Reserve Replacement Ratio 42
Oil and Gas Production Replacement Ratio 42
Oil and Gas Production Replacement Ratio, 2009-2013 42
Oil and Gas Production Replacement Ratio, By Country/Region, 2009-2013 44
Parex Resources Inc., Results of Oil & Gas Operations Trend 48
Oil and Gas Revenue and Expenses 48
Oil and Gas Revenue and Expenses, 2009-2013 48
Oil and Gas Revenue and Expenses, By Country/Region, 2009-2013 49
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
Parex 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 68
Recent Developments 69
Parex Resources Inc. - Recent Developments 69
Aug 05, 2014: Parex Resources Announces 2014 Second Quarter Results 69
Jul 10, 2014: Parex Increases 2P Reserves by 80% to 58 MMboe, RLI to 6.7 Years and Forecast 2014 Exit Rate Production to Exceed 27,000 bopd 70
May 12, 2014: Parex Resources Announces 2014 First Quarter Results and Exploration Success 72
Apr 16, 2014: Parex Provides Operational Update and Q2 Production Forecast 19,000-19,500 bopd 74
Mar 12, 2014: Parex Announces Fourth Quarter and Full Year 2013 Results 76
Feb 12, 2014: Parex Doubles 2013 Year End 2P Reserves from Year End 2012 79
Jan 29, 2014: Texas Appeals Court Dismisses Parex Resources from Ramshorn Litigation 80
Jan 09, 2014: Parex Resources Achieves Record Production of 18,000 bopd 80
Jan 08, 2014: Parex Provides Revised 2015 Guidance: Maintaining Growth And Balance Sheet Strength 82
Appendix 85
Methodology 85
Coverage 85
Secondary Research 85
Primary Research 85
Data Information Sources 86
Company Source 86
SEC/Other Regulatory Filings 86
Other Sources 86
Expert Panel Validation 86
Data Definition 86
Oil and Gas Reserves 86
Units of Measure 87
About GlobalData 87
Disclosure 87
Disclaimer 87

List of Tables
Table 1: Parex Resources Inc., Key Facts 7
Table 2: Parex Resources Inc., Share Price Performance, Q3, 2013-Q3, 2014 8
Table 3: Parex Resources Inc., Key Valuation Metrics, Q3, 2013-Q3, 2014 9
Table 4: Parex Resources Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q3, 2013-Q3, 2014 10
Table 5: Parex Resources Inc., Results of Oil & Gas Operations Per boe Growth Rates, %, Q3, 2013-Q3, 2014 11
Table 6: Parex Resources Inc., Upstream Capital Expenditure, Q3, 2013-Q3, 2014 12
Table 7: Parex Resources Inc., Total Crude Oil and Natural Gas, Production, Q3, 2013-Q3, 2014 13
Table 8: Parex Resources Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q3, 2013-Q3, 2014 14
Table 9: Parex Resources Inc., Total Crude Oil Production, mmbbl, Q3, 2013-Q3, 2014 15
Table 10: Parex Resources Inc., Crude Oil Production, By Country/Region, mmbbl, Q3, 2013-Q3, 2014 16
Table 11: Parex Resources Inc., Share Price Performance, 2009-2013 17
Table 12: Parex Resources Inc., Key Valuation Metrics, 2009-2013 18
Table 13: Parex Resources Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2009-2013 19
Table 14: Parex Resources Inc., Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2009-2013 21
Table 15: Parex Resources Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2009-2013 22
Table 16: Parex Resources Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2009-2013 23
Table 17: Parex Resources Inc., Crude Oil Production and Reserves, By Country/Region, mmbbl, 2009-2013 25
Table 18: Parex Resources Inc., Crude Oil Reserve Changes, mmbbl, 2009-2013 26
Table 19: Parex Resources Inc., Natural Gas Production and Reserves Metrics, bcf, 2009-2013 27
Table 20: Parex Resources Inc., Natural Gas Production and Reserves, By Country/Region, bcf, 2009-2013 28
Table 21: Parex Resources Inc., Natural Gas Reserve Changes, bcf, 2009-2013 29
Table 22: Parex Resources Inc., Oil and Gas Reserves Life Index, Years, 2009-2013 30
Table 23: Parex Resources Inc., Oil and Gas Reserves Life Index, By Country/Region, Years, 2009-2013 32
Table 24: Parex Resources Inc., Upstream Capital Expenditure, US$ mil, 2009-2013 33
Table 25: Parex Resources Inc., Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2009-2013 35
Table 26: Parex Resources Inc., Exploration and Development Costs, By Country/Region, US$ mil, 2009-2013 37
Table 27: Parex Resources Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2009-2013 38
Table 28: Parex Resources Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2009-2013 41
Table 29: Parex Resources Inc., Oil and Gas Production Replacement Ratio, %, 2009-2013 42
Table 30: Parex Resources Inc., 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2009-2013 47
Table 31: Parex Resources Inc., Revenue and Expenses, US$ mil, 2009-2013 48
Table 32: Parex Resources Inc., Revenue and Expenses, By Country/Region, US$ mil, 2009-2013 51
Table 33: Parex Resources Inc., Oil and Gas Revenue and Expenses, US$/boe, 2009-2013 53
Table 34: Parex Resources Inc., Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2009-2013 57
Table 35: Parex Resources Inc., Oil and Gas Performance Metrics, 2009-2013 58
Table 36: Parex Resources Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2009-2013 59
Table 37: Parex Resources Inc., Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2009-2013 61
Table 38: Parex Resources Inc., Producible Oil and Gas Wells, 2009-2013 62
Table 39: Parex Resources Inc., Producible Oil and Gas Wells, By Country/Region, 2009-2013 65
Table 40: Parex Resources Inc., Exploratory and Developed Wells, 2009-2013 67
Table 41: Parex Resources Inc., Exploratory and Developed Wells, By Country/Region, 2009-2013 68

List of Figures
Figure 1: Parex Resources Inc., Share Price Performance, CAD/Share, Q3, 2013-Q3, 2014 8
Figure 2: Parex Resources Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q3, 2013-Q3, 2014 9
Figure 3: Parex Resources Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q3, 2013-Q3, 2014 10
Figure 4: Parex Resources Inc., Upstream Capital Expenditure, US$ mil, Q3, 2013-Q3, 2014 12
Figure 5: Parex Resources Inc., Total Crude Oil and Natural Gas, Production, mmboe, Q3, 2013-Q3, 2014 13
Figure 6: Parex Resources Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q3, 2013-Q3, 2014 14
Figure 7: Parex Resources Inc., Total Crude Oil Production, mmbbl, Q3, 2013-Q3, 2014 15
Figure 8: Parex Resources Inc., Crude Oil Production, By Country/Region, mmbbl, Q3, 2013-Q3, 2014 16
Figure 9: Parex Resources Inc., Share Price Performance, CAD/Share, 2009-2013 17
Figure 10: Parex Resources Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2009-2013 18
Figure 11: Parex Resources Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2009-2013 19
Figure 12: Parex Resources Inc., Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2009-2013 20
Figure 13: Parex Resources Inc., Total Oil & Gas Production, By Country/Region, mmboe, 2009-2013 20
Figure 14: Parex Resources Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2013 22
Figure 15: Parex Resources Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2009-2013 23
Figure 16: Parex Resources Inc., Oil Reserves, End of Period, By Country/Region, mmbbl, 2009-2013 24
Figure 17: Parex Resources Inc., Oil Production, By Country/Region, mmbbl, 2009-2013 24
Figure 18: Parex Resources Inc., Crude Oil Reserve Changes, mmbbl, 2013 26
Figure 19: Parex Resources Inc., Natural Gas Production and Reserves Metrics, bcf, 2009-2013 27
Figure 20: Parex Resources Inc., Gas Reserves, End of Period, By Country/Region, bcf, 2009-2013 28
Figure 21: Parex Resources Inc., Natural Gas Reserve Changes, bcf, 2013 29
Figure 22: Parex Resources Inc., Oil and Gas Reserves Life Index, Years, 2009-2013 30
Figure 23: Parex Resources Inc., Gas Reserve Life Index, By Country/Region, Years, 2009-2013 31
Figure 24: Parex Resources Inc., Oil & Gas Reserve Life Index, By Country/Region, Years, 2009-2013 31
Figure 25: Parex Resources Inc., Oil Reserve Life Index, By Country/Region, Years, 2009-2013 32
Figure 26: Parex Resources Inc., Upstream Capital Expenditure, US$ mil, 2009-2013 33
Figure 27: Parex Resources Inc., Proved Acquisition Costs, By Country/Region, US$ mil, 2009-2013 34
Figure 28: Parex Resources Inc., Unproved Acquisition Costs, By Country/Region, US$ mil, 2009-2013 34
Figure 29: Parex Resources Inc., Development Costs, By Country/Region, US$ mil, 2009-2013 36
Figure 30: Parex Resources Inc., Exploration Costs, By Country/Region, US$ mil, 2009-2013 36
Figure 31: Parex Resources Inc., 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2009-2013 38
Figure 32: Parex Resources Inc., Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2009-2013 40
Figure 33: Parex Resources Inc., Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2009-2013 40
Figure 34: Parex Resources Inc., Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2009-2013 41
Figure 35: Parex Resources Inc., 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2009-2013 42
Figure 36: Parex Resources Inc., 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2009-2013 44
Figure 37: Parex Resources Inc., 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2009-2013 44
Figure 38: Parex Resources Inc., 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2009-2013 45
Figure 39: Parex Resources Inc., 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2009-2013 45
Figure 40: Parex Resources Inc., 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2009-2013 46
Figure 41: Parex Resources Inc., 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2009-2013 46
Figure 42: Parex Resources Inc., Revenue and Expenses, US$ mil, 2009-2013 48
Figure 43: Parex Resources Inc., Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 49
Figure 44: Parex Resources Inc., Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 49
Figure 45: Parex Resources Inc., Oil & Gas Revenue, By Country/Region, US$ mil, 2009-2013 50
Figure 46: Parex Resources Inc., Production Costs, By Country/Region, US$ mil, 2009-2013 50
Figure 47: Parex Resources Inc., Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 51
Figure 48: Parex Resources Inc., Oil and Gas Revenue and Expenses, US$/boe, 2009-2013 53
Figure 49: Parex Resources Inc., Income Tax/(Benefit) per boe, By Country/Region, US$/boe, 2009-2013 54
Figure 50: Parex Resources Inc., Lifting Cost per boe, By Country/Region, US$/boe, 2009-2013 54
Figure 51: Parex Resources Inc., Annual Net Income per boe, By Country/Region, US$/boe, 2009-2013 55
Figure 52: Parex Resources Inc., Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2009-2013 55
Figure 53: Parex Resources Inc., Total DD&A per boe, By Country/Region, US$/boe, 2009-2013 56
Figure 54: Parex Resources Inc., Total Revenue per boe, By Country/Region, US$/boe, 2009-2013 56
Figure 55: Parex Resources Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2009-2013 59
Figure 56: Parex Resources Inc., Total Gross Undeveloped Acreage, By Country/Region, Acres, 2009-2013 60
Figure 57: Parex Resources Inc., Total Net Undeveloped Acreage, By Country/Region, Acres, 2009-2013 60
Figure 58: Parex Resources Inc., Producible Oil and Gas Wells, 2009-2013 62
Figure 59: Parex Resources Inc., Gross Productive Oil & Gas Wells, By Country/Region, Number, 2009-2013 63
Figure 60: Parex Resources Inc., Gross Productive Oil Wells, By Country/Region, Number, 2009-2013 63
Figure 61: Parex Resources Inc., Net/Gross Oil & Gas Ratio, By Country/Region, %, 2009-2013 64
Figure 62: Parex Resources Inc., Net Productive Oil & Gas Wells, By Country/Region, Number, 2009-2013 64
Figure 63: Parex Resources Inc., Net Productive Oil Wells, By Country/Region, Number, 2009-2013 65
Figure 64: Parex Resources Inc., Exploratory and Developed Wells, 2009-2013 66


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