Ithaca Energy Inc. Oil & Gas Exploration and Production Operations and Cost Analysis - Q2, 2015

 Published On: Nov, 2015 |    No of Pages: 89 |  Published By: GlobalData | Format: PDF
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Summary

Ithaca 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 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
Ithaca Energy Inc., Valuation and Financial Data 9
Ithaca Energy Inc., Share Price Performance 9
Share Price Performance, Q2, 2014-Q2, 2015 9
Ithaca Energy Inc., Key Valuation Metrics 10
Key Valuation Metrics, Q2, 2014-Q2, 2015 10
Ithaca Energy Inc., Quarterly Results of Oil & Gas Operations Per boe Produced 11
Results of Oil & Gas Operations Per boe Produced, Q2, 2014-Q2, 2015 11
Results of Oil & Gas Operations Per boe Growth Rates, Q2, 2014-Q2, 2015 12
Ithaca Energy Inc., Quarterly E&P Costs Trends 13
Upstream Capital Expenditure, Q2, 2014-Q2, 2015 13
Ithaca Energy Inc., Quarterly Production Trends 14
Ithaca Energy Inc., Total Oil and Gas Production 14
Total Crude Oil and Natural Gas Production Trend, Q2, 2014-Q2, 2015 14
Total Crude Oil & Natural Gas Production, By Country/Region, Q2, 2014-Q2, 2015 15
Ithaca Energy Inc., Crude Oil Production 16
Total Crude Oil Production Trend, Q2, 2014-Q2, 2015 16
Crude Oil Production, By Country/Region, Q2, 2014-Q2, 2015 17
Ithaca Energy Inc., Natural Gas Production 18
Total Natural Gas Production Trend, Q2, 2014-Q2, 2015 18
Natural Gas Production, By Country/Region, Q2, 2014-Q2, 2015 19
Ithaca Energy Inc., Valuation and Financial Data, 2010-2014 20
Ithaca Energy Inc., Share Price Performance, 2010-2014 20
Share Price Performance, 2010-2014 20
Key Valuation Metrics, 2010-2014 21
Ithaca 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, 2010-2014 22
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2010-2014 24
Total Crude Oil and Natural Gas Reserve Changes, 2010-2014 26
Crude Oil/Liquids Production and Reserve 27
Crude Oil/Liquids Production and Reserve Trend, 2010-2014 27
Crude Oil Production and Reserves By Country/Region, 2010-2014 28
Crude Oil/Liquids Reserve Changes, 2010-2014 30
Natural Gas Production and Reserve 31
Natural Gas Production and Reserve Trend, 2010-2014 31
Natural Gas Production and Reserves, By Country/Region, 2010-2014 32
Natural Gas Reserve Changes, 2010-2014 34
Total Crude Oil and Natural Gas Reserves Life Index 35
Total Crude Oil and Natural Gas Reserves Life Index, 2010-2014 35
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2010-2014 36
Ithaca Energy Inc., E&P Costs Trends 38
Allocation of the Upstream Capital Expenditure 38
Upstream Capital Expenditure, 2010-2014 38
Acquisition Costs By Country/Region, 2010-2014 39
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
Ithaca Energy 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
Ithaca Energy 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 54
Oil and Gas Revenue and Expenses, Per boe 59
Oil and Gas Revenue and Expenses, By boe, 2010-2014 59
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2010-2014 60
Oil and Gas Performance Metrics 64
Ithaca Energy Inc., Land Holdings and Well Data 65
Developed and Undeveloped Acreage 65
Gross and Net Developed and Undeveloped Acreage, 2010-2014 65
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2010-2014 66
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
Ithaca Energy Inc. - Recent Developments 76
Nov 16, 2015: Ithaca Energy Announces Third Quarter 2015 Financial Results 76
Nov 02, 2015: Ithaca Energy: RBL Redetermination Completed 78
Oct 05, 2015: Ithaca Energy: Q3-2015 Operations Update 78
Sep 28, 2015: Ithaca Energy Announces FPF-1 Modifications Contract Update 79
Aug 13, 2015: Ithaca Energy Announces 2015 Half Year Financial Results 80
Jul 16, 2015: Ithaca Energy: Second Quarter 2015 Operations Update 82
May 28, 2015: Ithaca Energy: Statement Of Claim Notice 83
May 14, 2015: Ithaca Energy: First Quarter 2015 Financial Results 83
Apr 29, 2015: Ithaca Energy: Extended Bank Debt Facilities 85
Apr 13, 2015: Ithaca Energy Successful Flow Test On Final Stella Development Well 85
Appendix 87
Methodology 87
Coverage 87
Secondary Research 87
Primary Research 87
Data Information Sources 88
Company Source 88
SEC/Other Regulatory Filings 88
Other Sources 88
Expert Panel Validation 88
Data Definition 88
Oil and Gas Reserves 88
Units of Measure 89
About GlobalData 89
Disclosure 89
Disclaimer 89

List of Tables
Table 1: Ithaca Energy Inc., Key Facts 8
Table 2: Ithaca Energy Inc., Share Price Performance, Q2, 2014-Q2, 2015 9
Table 3: Ithaca Energy Inc., Key Valuation Metrics, Q2, 2014-Q2, 2015 10
Table 4: Ithaca Energy Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q2, 2014-Q2, 2015 11
Table 5: Ithaca Energy Inc., Results of Oil & Gas Operations Per boe Growth Rates, %, Q2, 2014-Q2, 2015 12
Table 6: Ithaca Energy Inc., Upstream Capital Expenditure, Q2, 2014-Q2, 2015 13
Table 7: Ithaca Energy Inc., Total Crude Oil and Natural Gas, Production, Q2, 2014-Q2, 2015 14
Table 8: Ithaca Energy Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q2, 2014-Q2, 2015 15
Table 9: Ithaca Energy Inc., Total Crude Oil Production, mmbbl, Q2, 2014-Q2, 2015 16
Table 10: Ithaca Energy Inc., Crude Oil Production, By Country/Region, mmbbl, Q2, 2014-Q2, 2015 17
Table 11: Ithaca Energy Inc., Total Natural Gas Production, bcf, Q2, 2014-Q2, 2015 18
Table 12: Ithaca Energy Inc., Natural Gas Production, By Country/Region, bcf, Q2, 2014-Q2, 2015 19
Table 13: Ithaca Energy Inc., Share Price Performance, 2010-2014 20
Table 14: Ithaca Energy Inc., Key Valuation Metrics, 2010-2014 21
Table 15: Ithaca Energy Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2010-2014 23
Table 16: Ithaca Energy Inc., Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2010-2014 25
Table 17: Ithaca Energy Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2010-2014 26
Table 18: Ithaca Energy Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2010-2014 27
Table 19: Ithaca Energy Inc., Crude Oil Production and Reserves, By Country/Region, mmbbl, 2010-2014 29
Table 20: Ithaca Energy Inc., Crude Oil Reserve Changes, mmbbl, 2010-2014 30
Table 21: Ithaca Energy Inc., Natural Gas Production and Reserves Metrics, bcf, 2010-2014 31
Table 22: Ithaca Energy Inc., Natural Gas Production and Reserves, By Country/Region, bcf, 2010-2014 33
Table 23: Ithaca Energy Inc., Natural Gas Reserve Changes, bcf, 2010-2014 34
Table 24: Ithaca Energy Inc., Oil and Gas Reserves Life Index, Years, 2010-2014 35
Table 25: Ithaca Energy Inc., Oil and Gas Reserves Life Index, By Country/Region, Years, 2010-2014 37
Table 26: Ithaca Energy Inc., Upstream Capital Expenditure, US$ mil, 2010-2014 38
Table 27: Ithaca Energy Inc., Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2010-2014 39
Table 28: Ithaca Energy Inc., Exploration and Development Costs, By Country/Region, US$ mil, 2010-2014 41
Table 29: Ithaca Energy Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2010-2014 43
Table 30: Ithaca Energy Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2010-2014 45
Table 31: Ithaca Energy Inc., Oil and Gas Production Replacement Ratio, %, 2010-2014 46
Table 32: Ithaca Energy Inc., 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2010-2014 51
Table 33: Ithaca Energy Inc., Revenue and Expenses, US$ mil, 2010-2014 53
Table 34: Ithaca Energy Inc., Revenue and Expenses, By Country/Region, US$ mil, 2010-2014 58
Table 35: Ithaca Energy Inc., Oil and Gas Revenue and Expenses, US$/boe, 2010-2014 59
Table 36: Ithaca Energy Inc., Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2010-2014 63
Table 37: Ithaca Energy Inc., Oil and Gas Performance Metrics, 2010-2014 64
Table 38: Ithaca Energy Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2010-2014 65
Table 39: Ithaca Energy Inc., Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2010-2014 67
Table 40: Ithaca Energy Inc., Producible Oil and Gas Wells, 2010-2014 68
Table 41: Ithaca Energy Inc., Producible Oil and Gas Wells, By Country/Region, 2010-2014 72
Table 42: Ithaca Energy Inc., Exploratory and Developed Wells, 2010-2014 74
Table 43: Ithaca Energy Inc., Exploratory and Developed Wells, By Country/Region, 2010-2014 75

List of Figures
Figure 1: Ithaca Energy Inc., Share Price Performance, CAD/Share, Q2, 2014-Q2, 2015 9
Figure 2: Ithaca Energy Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q2, 2014-Q2, 2015 10
Figure 3: Ithaca Energy Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q2, 2014-Q2, 2015 11
Figure 4: Ithaca Energy Inc., Upstream Capital Expenditure, US$ mil, Q2, 2014-Q2, 2015 13
Figure 5: Ithaca Energy Inc., Total Crude Oil and Natural Gas, Production, mmboe, Q2, 2014-Q2, 2015 14
Figure 6: Ithaca Energy Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q2, 2014-Q2, 2015 15
Figure 7: Ithaca Energy Inc., Total Crude Oil Production, mmbbl, Q2, 2014-Q2, 2015 16
Figure 8: Ithaca Energy Inc., Crude Oil Production, By Country/Region, mmbbl, Q2, 2014-Q2, 2015 17
Figure 9: Ithaca Energy Inc., Total Natural Gas Production, bcf, Q2, 2014-Q2, 2015 18
Figure 10: Ithaca Energy Inc., Natural Gas Production, By Country/Region, bcf, Q2, 2014-Q2, 2015 19
Figure 11: Ithaca Energy Inc., Share Price Performance, CAD/Share, 2010-2014 20
Figure 12: Ithaca Energy Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2010-2014 21
Figure 13: Ithaca Energy Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2010-2014 22
Figure 14: Ithaca Energy Inc., Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2010-2014 24
Figure 15: Ithaca Energy Inc., Total Oil & Gas Production, By Country/Region, mmboe, 2010-2014 24
Figure 16: Ithaca Energy Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2014 26
Figure 17: Ithaca Energy Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2010-2014 27
Figure 18: Ithaca Energy Inc., Oil Reserves, End of Period, By Country/Region, mmbbl, 2010-2014 28
Figure 19: Ithaca Energy Inc., Oil Production, By Country/Region, mmbbl, 2010-2014 28
Figure 20: Ithaca Energy Inc., Crude Oil Reserve Changes, mmbbl, 2014 30
Figure 21: Ithaca Energy Inc., Natural Gas Production and Reserves Metrics, bcf, 2010-2014 31
Figure 22: Ithaca Energy Inc., Gas Reserves, End of Period, By Country/Region, bcf, 2010-2014 32
Figure 23: Ithaca Energy Inc., Gas Production, By Country/Region, bcf, 2010-2014 32
Figure 24: Ithaca Energy Inc., Natural Gas Reserve Changes, bcf, 2014 34
Figure 25: Ithaca Energy Inc., Oil and Gas Reserves Life Index, Years, 2010-2014 35
Figure 26: Ithaca Energy Inc., Gas Reserve Life Index, By Country/Region, Years, 2010-2014 36
Figure 27: Ithaca Energy Inc., Oil & Gas Reserve Life Index, By Country/Region, Years, 2010-2014 36
Figure 28: Ithaca Energy Inc., Oil Reserve Life Index, By Country/Region, Years, 2010-2014 37
Figure 29: Ithaca Energy Inc., Upstream Capital Expenditure, US$ mil, 2010-2014 38
Figure 30: Ithaca Energy Inc., Proved Acquisition Costs, By Country/Region, US$ mil, 2010-2014 39
Figure 31: Ithaca Energy Inc., Development Costs, By Country/Region, US$ mil, 2010-2014 40
Figure 32: Ithaca Energy Inc., Exploration Costs, By Country/Region, US$ mil, 2010-2014 40
Figure 33: Ithaca Energy Inc., 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2010-2014 42
Figure 34: Ithaca Energy Inc., Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2010-2014 44
Figure 35: Ithaca Energy Inc., Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2010-2014 44
Figure 36: Ithaca Energy Inc., Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2010-2014 45
Figure 37: Ithaca Energy Inc., 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2010-2014 46
Figure 38: Ithaca Energy Inc., 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2010-2014 48
Figure 39: Ithaca Energy Inc., 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2010-2014 48
Figure 40: Ithaca Energy Inc., 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2010-2014 49
Figure 41: Ithaca Energy Inc., 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2010-2014 49
Figure 42: Ithaca Energy Inc., 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2010-2014 50
Figure 43: Ithaca Energy Inc., 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2010-2014 50
Figure 44: Ithaca Energy Inc., Revenue and Expenses, US$ mil, 2010-2014 52
Figure 45: Ithaca Energy Inc., Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 54
Figure 46: Ithaca Energy Inc., Exploration Expenses, By Country/Region, US$ mil, 2010-2014 54
Figure 47: Ithaca Energy Inc., Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 55
Figure 48: Ithaca Energy Inc., Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 55
Figure 49: Ithaca Energy Inc., Oil & Gas Revenue, By Country/Region, US$ mil, 2010-2014 56
Figure 50: Ithaca Energy Inc., Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 56
Figure 51: Ithaca Energy Inc., Production Costs, By Country/Region, US$ mil, 2010-2014 57
Figure 52: Ithaca Energy Inc., Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 57
Figure 53: Ithaca Energy Inc., Oil and Gas Revenue and Expenses, US$/boe, 2010-2014 59
Figure 54: Ithaca Energy Inc., Exploration Expenses per boe, By Country/Region, US$/boe, 2010-2014 60
Figure 55: Ithaca Energy Inc., Income Tax/(Benefit) per boe, By Country/Region, US$/boe, 2010-2014 60
Figure 56: Ithaca Energy Inc., Lifting Cost per boe, By Country/Region, US$/boe, 2010-2014 61
Figure 57: Ithaca Energy Inc., Annual Net Income per boe, By Country/Region, US$/boe, 2010-2014 61
Figure 58: Ithaca Energy Inc., Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2010-2014 62
Figure 59: Ithaca Energy Inc., Total DD&A per boe, By Country/Region, US$/boe, 2010-2014 62
Figure 60: Ithaca Energy Inc., Total Revenue per boe, By Country/Region, US$/boe, 2010-2014 63
Figure 61: Ithaca Energy Inc., Oil and Gas Performance Metrics, 2010-2014 64
Figure 62: Ithaca Energy Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2010-2014 65
Figure 63: Ithaca Energy Inc., Total Gross Undeveloped Acreage, By Country/Region, Acres, 2010-2014 66
Figure 64: Ithaca Energy Inc., Total Net Undeveloped Acreage, By Country/Region, Acres, 2010-2014 66
Figure 65: Ithaca Energy Inc., Producible Oil and Gas Wells, 2010-2014 68
Figure 66: Ithaca Energy Inc., Gross Productive Gas Wells, By Country/Region, Number, 2010-2014 69
Figure 67: Ithaca Energy Inc., Gross Productive Oil & Gas Wells, By Country/Region, Number, 2010-2014 69
Figure 68: Ithaca Energy Inc., Gross Productive Oil Wells, By Country/Region, Number, 2010-2014 70
Figure 69: Ithaca Energy Inc., Net/Gross Oil & Gas Ratio, By Country/Region, %, 2010-2014 70
Figure 70: Ithaca Energy Inc., Net Productive Gas Wells, By Country/Region, Number, 2010-2014 71
Figure 71: Ithaca Energy Inc., Net Productive Oil & Gas Wells, By Country/Region, Number, 2010-2014 71
Figure 72: Ithaca Energy Inc., Net Productive Oil Wells, By Country/Region, Number, 2010-2014 72
Figure 73: Ithaca Energy Inc., Exploratory and Developed Wells, 2010-2014 73


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