Ecopetrol S.A. Oil & Gas Exploration and Production Operations and Cost Analysis - Q3, 2014

 Published On: Nov, 2014 |    No of Pages: 60 |  Published By: GlobalData | Format: PDF
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Summary

Ecopetrol S.A. (Ecopetrol) is an integrated oil and gas company. It engages in exploration, development, and production of crude oil and natural gas. The company owns and operates refineries that produce a wide range of refined products, such as gasoline, diesel, kerosene, liquefied petroleum gas, and petrochemicals, including paraffin waxes, lube base oils, aromatics, and asphalts, among others. Besides, it operates a wide transportation network and multi-purpose pipelines for transportation of refined products from refinery to wholesale distribution points. Ecopetrol markets a variety of refined and feed stock products, such as gasoline, diesel fuel, natural gas, and petrochemical products. It operates in Colombia, Peru, Brazil and the US Gulf Coast. The company classifies its business operations into three business segments namely Exploration and Production; Transportation and Logistics; and Refining and Petrochemicals. It is a majority owned by the Republic of Colombia. Ecopetrol is headquartered in Bogota, Colombia

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 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 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, Q3, 2013-Q3, 2014 7
Ecopetrol S.A., Key Valuation Metrics 8
Key Valuation Metrics, Q3, 2013-Q3, 2014 8
Ecopetrol S.A., Quarterly E&P Costs Trends 9
Upstream Capital Expenditure, Q3, 2013-Q3, 2014 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, Q3, 2013-Q3, 2014 10
Ecopetrol S.A., Crude Oil Production 11
Total Crude Oil Production Trend, Q3, 2013-Q3, 2014 11
Ecopetrol S.A., Natural Gas Production 12
Total Natural Gas Production Trend, Q3, 2013-Q3, 2014 12
Ecopetrol S.A., Valuation and Financial Data, 2009-2013 13
Ecopetrol S.A., Share Price Performance, 2009-2013 13
Share Price Performance, 2009-2013 13
Key Valuation Metrics, 2009-2013 14
Ecopetrol S.A., Production and Reserves Trends 15
Total Oil and Gas, Reserves and Production 15
Total Crude Oil and Natural Gas Production and Reserves Trend, 2009-2013 15
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2009-2013 17
Total Crude Oil and Natural Gas Reserve Changes, 2009-2013 18
Crude Oil/Liquids Production and Reserve 19
Crude Oil/Liquids Production and Reserve Trend, 2009-2013 19
Crude Oil Production and Reserves By Country/Region, 2009-2013 20
Crude Oil/Liquids Reserve Changes, 2009-2013 21
Natural Gas Production and Reserve 22
Natural Gas Production and Reserve Trend, 2009-2013 22
Natural Gas Production and Reserves, By Country/Region, 2009-2013 23
Natural Gas Reserve Changes, 2009-2013 24
Total Crude Oil and Natural Gas Reserves Life Index 25
Total Crude Oil and Natural Gas Reserves Life Index, 2009-2013 25
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2009-2013 26
Ecopetrol S.A., E&P Costs Trends 27
Allocation of the Upstream Capital Expenditure 27
Upstream Capital Expenditure, 2009-2013 27
Acquisition Costs By Country/Region, 2009-2013 28
Exploration and Development Costs, By Country/Region, 2009-2013 29
Oil and Gas Cost Per boe, US$/boe 30
Oil and Gas Cost Per boe, US$/boe, 2009-2013 30
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2009-2013 32
Ecopetrol S.A., Reserve Replacement Ratio 33
Oil and Gas Production Replacement Ratio 33
Oil and Gas Production Replacement Ratio, 2009-2013 33
Oil and Gas Production Replacement Ratio, By Country/Region, 2009-2013 35
Ecopetrol S.A., Results of Oil & Gas Operations Trend 36
Oil and Gas Revenue and Expenses 36
Oil and Gas Revenue and Expenses, 2009-2013 36
Oil and Gas Revenue and Expenses, By Country/Region, 2009-2013 37
Oil and Gas Revenue and Expenses, Per boe 38
Oil and Gas Revenue and Expenses, By boe, 2009-2013 38
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2009-2013 39
Oil and Gas Performance Metrics 40
Ecopetrol S.A., Land Holdings and Well Data 41
Developed and Undeveloped Acreage 41
Gross and Net Developed and Undeveloped Acreage, 2009-2013 41
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2009-2013 42
Well Statistics 45
Producible Oil and Gas Well, 2009-2013 45
Producible Oil and Gas Well, By Country/Region, 2009-2013 46
Exploration and Development Wells Drilled, 2009-2013 51
Exploration and Development Wells Drilled, By Country/Region, 2009-2013 52
Recent Developments 53
Ecopetrol S.A. - Recent Developments 53
Nov 21, 2014: Talisman And Ecopetrol Announce Hydrocarbon Discovery In Block CPO-9, Colombia 53
Oct 31, 2014: Ecopetrol Announces Its Results for the Third Quarter of 2014 53
Oct 27, 2014: Ecopetrol announces hydrocarbon discovery in the Gulf of Mexico (USA) 54
Oct 20, 2014: Ecopetrol to ship one million barrels of Castilla crude to Hyundai Oilbank, South Korea 54
Sep 12, 2014: Ecopetrol says $400m LNG terminal would be ready by 2016 in Colombia 54
Sep 10, 2014: Ecopetrol S.A. Appoints New Vice President of Exploration 55
Aug 05, 2014: Wavefront Announces Commencement Of Ecopetrol Us $1.3 Million Powerwave Project 55
Jul 31, 2014: Ecopetrol Announces Its Results for the Second Quarter of 2014 55
Jul 24, 2014: Ecopetrol And Pacific Rubiales Announce Decision Concerning The Quifa SW STAR Pilot Project 56
Jul 16, 2014: Ecopetrol Announces Discovery in the Deepwater Gulf of Mexico (U.S.) 57
Appendix 58
Methodology 58
Coverage 58
Secondary Research 58
Primary Research 58
Data Information Sources 59
Company Source 59
SEC/Other Regulatory Filings 59
Other Sources 59
Expert Panel Validation 59
Data Definition 59
Oil and Gas Reserves 59
Units of Measure 60
About GlobalData 60
Disclosure 60
Disclaimer 60

List of Tables
Table 1: Ecopetrol S.A., Key Facts 6
Table 2: Ecopetrol S.A., Share Price Performance, Q3, 2013-Q3, 2014 7
Table 3: Ecopetrol S.A., Key Valuation Metrics, Q3, 2013-Q3, 2014 8
Table 4: Ecopetrol S.A., Upstream Capital Expenditure, Q3, 2013-Q3, 2014 9
Table 5: Ecopetrol S.A., Total Crude Oil and Natural Gas, Production, Q3, 2013-Q3, 2014 10
Table 6: Ecopetrol S.A., Total Crude Oil Production, mmbbl, Q3, 2013-Q3, 2014 11
Table 7: Ecopetrol S.A., Total Natural Gas Production, bcf, Q3, 2013-Q3, 2014 12
Table 8: Ecopetrol S.A., Share Price Performance, 2009-2013 13
Table 9: Ecopetrol S.A., Key Valuation Metrics, 2009-2013 14
Table 10: Ecopetrol S.A., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2009-2013 16
Table 11: Ecopetrol S.A., Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2009-2013 17
Table 12: Ecopetrol S.A., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2009-2013 18
Table 13: Ecopetrol S.A., Crude Oil Production and Reserves Metrics, mmbbl, 2009-2013 19
Table 14: Ecopetrol S.A., Crude Oil Production and Reserves, By Country/Region, mmbbl, 2009-2013 20
Table 15: Ecopetrol S.A., Crude Oil Reserve Changes, mmbbl, 2009-2013 21
Table 16: Ecopetrol S.A., Natural Gas Production and Reserves Metrics, bcf, 2009-2013 22
Table 17: Ecopetrol S.A., Natural Gas Production and Reserves, By Country/Region, bcf, 2009-2013 23
Table 18: Ecopetrol S.A., Natural Gas Reserve Changes, bcf, 2009-2013 24
Table 19: Ecopetrol S.A., Oil and Gas Reserves Life Index, Years, 2009-2013 25
Table 20: Ecopetrol S.A., Oil and Gas Reserves Life Index, By Country/Region, Years, 2009-2013 26
Table 21: Ecopetrol S.A., Upstream Capital Expenditure, US$ mil, 2009-2013 27
Table 22: Ecopetrol S.A., Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2009-2013 28
Table 23: Ecopetrol S.A., Exploration and Development Costs, By Country/Region, US$ mil, 2009-2013 29
Table 24: Ecopetrol S.A., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2009-2013 31
Table 25: Ecopetrol S.A., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2009-2013 32
Table 26: Ecopetrol S.A., Oil and Gas Production Replacement Ratio, %, 2009-2013 34
Table 27: Ecopetrol S.A., 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2009-2013 35
Table 28: Ecopetrol S.A., Revenue and Expenses, US$ mil, 2009-2013 36
Table 29: Ecopetrol S.A., Revenue and Expenses, By Country/Region, US$ mil, 2009-2013 37
Table 30: Ecopetrol S.A., Oil and Gas Revenue and Expenses, US$/boe, 2009-2013 38
Table 31: Ecopetrol S.A., Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2009-2013 39
Table 32: Ecopetrol S.A., Oil and Gas Performance Metrics, 2009-2013 40
Table 33: Ecopetrol S.A., Land Holdings (Developed and Undeveloped Acreage), Acres, 2009-2013 41
Table 34: Ecopetrol S.A., Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2009-2013 44
Table 35: Ecopetrol S.A., Producible Oil and Gas Wells, 2009-2013 45
Table 36: Ecopetrol S.A., Producible Oil and Gas Wells, By Country/Region, 2009-2013 50
Table 37: Ecopetrol S.A., Exploratory and Developed Wells, 2009-2013 51
Table 38: Ecopetrol S.A., Exploratory and Developed Wells, By Country/Region, 2009-2013 52

List of Figures
Figure 1: Ecopetrol S.A., Share Price Performance, USD/Share, Q3, 2013-Q3, 2014 7
Figure 2: Ecopetrol S.A., Upstream Capital Expenditure, US$ mil, Q3, 2013-Q3, 2014 9
Figure 3: Ecopetrol S.A., Total Crude Oil and Natural Gas, Production, mmboe, Q3, 2013-Q3, 2014 10
Figure 4: Ecopetrol S.A., Total Crude Oil Production, mmbbl, Q3, 2013-Q3, 2014 11
Figure 5: Ecopetrol S.A., Total Natural Gas Production, bcf, Q3, 2013-Q3, 2014 12
Figure 6: Ecopetrol S.A., Share Price Performance, USD/Share, 2009-2013 13
Figure 7: Ecopetrol S.A., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2009-2013 14
Figure 8: Ecopetrol S.A., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2009-2013 15
Figure 9: Ecopetrol S.A., Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2009-2013 17
Figure 10: Ecopetrol S.A., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2013 18
Figure 11: Ecopetrol S.A., Crude Oil Production and Reserves Metrics, mmbbl, 2009-2013 19
Figure 12: Ecopetrol S.A., Oil Reserves, End of Period, By Country/Region, mmbbl, 2009-2013 20
Figure 13: Ecopetrol S.A., Crude Oil Reserve Changes, mmbbl, 2013 21
Figure 14: Ecopetrol S.A., Natural Gas Production and Reserves Metrics, bcf, 2009-2013 22
Figure 15: Ecopetrol S.A., Gas Reserves, End of Period, By Country/Region, bcf, 2009-2013 23
Figure 16: Ecopetrol S.A., Natural Gas Reserve Changes, bcf, 2013 24
Figure 17: Ecopetrol S.A., Oil and Gas Reserves Life Index, Years, 2009-2013 25
Figure 18: Ecopetrol S.A., Upstream Capital Expenditure, US$ mil, 2009-2013 27
Figure 19: Ecopetrol S.A., 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2009-2013 30
Figure 20: Ecopetrol S.A., 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2009-2013 33
Figure 21: Ecopetrol S.A., Revenue and Expenses, US$ mil, 2009-2013 36
Figure 22: Ecopetrol S.A., Oil and Gas Revenue and Expenses, US$/boe, 2009-2013 38
Figure 23: Ecopetrol S.A., Oil and Gas Performance Metrics, 2009-2013 40
Figure 24: Ecopetrol S.A., Land Holdings (Developed and Undeveloped Acreage), Acres, 2009-2013 41
Figure 25: Ecopetrol S.A., Total Gross Undeveloped Acreage, By Country/Region, Acres, 2009-2013 42
Figure 26: Ecopetrol S.A., Total Net Undeveloped Acreage, By Country/Region, Acres, 2009-2013 42
Figure 27: Ecopetrol S.A., Total Gross Developed Acreage, By Country/Region, Acres, 2009-2013 43
Figure 28: Ecopetrol S.A., Total Net Developed Acreage, By Country/Region, Acres, 2009-2013 43
Figure 29: Ecopetrol S.A., Producible Oil and Gas Wells, 2009-2013 45
Figure 30: Ecopetrol S.A., Gross Productive Gas Wells, By Country/Region, Number, 2009-2013 46
Figure 31: Ecopetrol S.A., Gross Productive Oil & Gas Wells, By Country/Region, Number, 2009-2013 46
Figure 32: Ecopetrol S.A., Gross Productive Oil Wells, By Country/Region, Number, 2009-2013 47
Figure 33: Ecopetrol S.A., Net/Gross Oil & Gas Ratio, By Country/Region, %, 2009-2013 47
Figure 34: Ecopetrol S.A., Net Productive Gas Wells, By Country/Region, Number, 2009-2013 48
Figure 35: Ecopetrol S.A., Net Productive Oil & Gas Wells, By Country/Region, Number, 2009-2013 48
Figure 36: Ecopetrol S.A., Net Productive Oil Wells, By Country/Region, Number, 2009-2013 49
Figure 37: Ecopetrol S.A., Exploratory and Developed Wells, 2009-2013 51


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