Petroleos Mexicanos Oil & Gas Exploration and Production Operations and Cost Analysis - Q2, 2014

 Published On: Sep, 2014 |    No of Pages: 72 |  Published By: GlobalData | Format: PDF
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Summary

Petroleos Mexicanos (PEMEX) is a state-owned vertically integrated oil and gas company. The company explores, develops and produces crude oil and natural gas. It also refines and markets petroleum products. PEMEX gathers and processes natural gas products. It manufactures and markets a wide range of petrochemical products such as oxygen, nitrogen, hexane, heptane, pyrolysis liquids, specialty petrochemical products, hydrochloric acid and other. The company also trades crude oil, natural gas and petroleum and petrochemical products within international markets. PEMEX classifies its business operations into six reportable business segments namely, Pemex-Exploration and Production, Pemex-Refining, Pemex-Petrochemicals, Pemex-Gas and Basic Petrochemicals, Trading, and Corporate and Others. It is one of the leading energy companies across the Latin America. PEMEX is headquartered in Mexico City, Mexico

Petroleos Mexicanos 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
Petroleos Mexicanos, Key Valuation Metrics 8
Key Valuation Metrics, Q2, 2013-Q2, 2014 8
Petroleos Mexicanos, Quarterly Results of Oil & Gas Operations Per boe Produced 9
Results of Oil & Gas Operations Per boe Produced, Q2, 2013-Q2, 2014 9
Results of Oil & Gas Operations Per boe Growth Rates, Q2, 2013-Q2, 2014 10
Petroleos Mexicanos, Quarterly Production Trends 11
Petroleos Mexicanos, Total Oil and Gas Production 11
Total Crude Oil and Natural Gas Production Trend, Q2, 2013-Q2, 2014 11
Total Crude Oil & Natural Gas Production, By Country/Region, Q2, 2013-Q2, 2014 12
Petroleos Mexicanos, Crude Oil Production 13
Total Crude Oil Production Trend, Q2, 2013-Q2, 2014 13
Crude Oil Production, By Country/Region, Q2, 2013-Q2, 2014 14
Petroleos Mexicanos, Natural Gas Production 15
Total Natural Gas Production Trend, Q2, 2013-Q2, 2014 15
Natural Gas Production, By Country/Region, Q2, 2013-Q2, 2014 16
Key Valuation Metrics, 2009-2013 17
Petroleos Mexicanos, Production and Reserves Trends 18
Total Oil and Gas, Reserves and Production 18
Total Crude Oil and Natural Gas Production and Reserves Trend, 2009-2013 18
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 30
Total Crude Oil and Natural Gas Reserves Life Index 31
Total Crude Oil and Natural Gas Reserves Life Index, 2009-2013 31
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2009-2013 32
Petroleos Mexicanos, E&P Costs Trends 34
Allocation of the Upstream Capital Expenditure 34
Upstream Capital Expenditure, 2009-2013 34
Exploration and Development Costs, By Country/Region, 2009-2013 35
Oil and Gas Cost Per boe, US$/boe 37
Oil and Gas Cost Per boe, US$/boe, 2009-2013 37
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2009-2013 39
Petroleos Mexicanos, Reserve Replacement Ratio 41
Oil and Gas Production Replacement Ratio 41
Oil and Gas Production Replacement Ratio, 2009-2013 41
Oil and Gas Production Replacement Ratio, By Country/Region, 2009-2013 43
Petroleos Mexicanos, Results of Oil & Gas Operations Trend 47
Oil and Gas Revenue and Expenses 47
Oil and Gas Revenue and Expenses, 2009-2013 47
Oil and Gas Revenue and Expenses, By Country/Region, 2009-2013 48
Oil and Gas Revenue and Expenses, Per boe 52
Oil and Gas Revenue and Expenses, By boe, 2009-2013 52
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2009-2013 53
Oil and Gas Performance Metrics 57
Petroleos Mexicanos, Land Holdings and Well Data 58
Developed and Undeveloped Acreage 58
Gross and Net Developed and Undeveloped Acreage, 2009-2013 58
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2009-2013 59
Well Statistics 61
Producible Oil and Gas Well, 2009-2013 61
Producible Oil and Gas Well, By Country/Region, 2009-2013 62
Exploration and Development Wells Drilled, 2009-2013 64
Exploration and Development Wells Drilled, By Country/Region, 2009-2013 65
Recent Developments 66
Petroleos Mexicanos - Recent Developments 66
Sep 11, 2014: Pemex to invest $5.5bn in gas pipeline, plant renovation and fuel production in Mexico 66
Aug 25, 2014: PEMEX Informs about Measuring Methodologies in Production and Distribution of Oil 66
Aug 11, 2014: CGG awarded major OBC acquisition and processing contract by Pemex 67
Aug 09, 2014: Pemex reports blast at Ciudad Madero refinery in Mexico 67
Jul 28, 2014: JOGMEC and Petróleos Mexicanos Signed MOU Of Technical Cooperation And Development Of Human Resources 67
Jul 24, 2014: Pemex reports fire at Ciudad Mader refinery in Mexico 68
Jul 24, 2014: Pemex to resume operations at Francisco I. Madero refinery in Mexico 68
Jul 15, 2014: Pemex selects Mexichem, Enesa Energia to construct cogeneration power plant 68
Jun 26, 2014: Pemex Acquire 700 Tankers to Transport Fuel 68
Jun 18, 2014: Petroleos Mexicanos Announces Successful Results of Consent Solicitations 69
Appendix 70
Methodology 70
Coverage 70
Secondary Research 70
Primary Research 70
Data Information Sources 71
Company Source 71
SEC/Other Regulatory Filings 71
Other Sources 71
Expert Panel Validation 71
Data Definition 71
Oil and Gas Reserves 71
Units of Measure 72
About GlobalData 72
Disclosure 72
Disclaimer 72

List of Tables
Table 1: Petroleos Mexicanos, Key Facts 7
Table 2: Petroleos Mexicanos, Key Valuation Metrics, Q2, 2013-Q2, 2014 8
Table 3: Petroleos Mexicanos, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q2, 2013-Q2, 2014 9
Table 4: Petroleos Mexicanos, Results of Oil & Gas Operations Per boe Growth Rates, %, Q2, 2013-Q2, 2014 10
Table 5: Petroleos Mexicanos, Total Crude Oil and Natural Gas, Production, Q2, 2013-Q2, 2014 11
Table 6: Petroleos Mexicanos, Total Oil & Gas Production, By Country/Region, mmboe, Q2, 2013-Q2, 2014 12
Table 7: Petroleos Mexicanos, Total Crude Oil Production, mmbbl, Q2, 2013-Q2, 2014 13
Table 8: Petroleos Mexicanos, Crude Oil Production, By Country/Region, mmbbl, Q2, 2013-Q2, 2014 14
Table 9: Petroleos Mexicanos, Total Natural Gas Production, bcf, Q2, 2013-Q2, 2014 15
Table 10: Petroleos Mexicanos, Natural Gas Production, By Country/Region, bcf, Q2, 2013-Q2, 2014 16
Table 11: Petroleos Mexicanos, Key Valuation Metrics, 2009-2013 17
Table 12: Petroleos Mexicanos, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2009-2013 19
Table 13: Petroleos Mexicanos, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2009-2013 21
Table 14: Petroleos Mexicanos, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2009-2013 22
Table 15: Petroleos Mexicanos, Crude Oil Production and Reserves Metrics, mmbbl, 2009-2013 23
Table 16: Petroleos Mexicanos, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2009-2013 25
Table 17: Petroleos Mexicanos, Crude Oil Reserve Changes, mmbbl, 2009-2013 26
Table 18: Petroleos Mexicanos, Natural Gas Production and Reserves Metrics, bcf, 2009-2013 27
Table 19: Petroleos Mexicanos, Natural Gas Production and Reserves, By Country/Region, bcf, 2009-2013 29
Table 20: Petroleos Mexicanos, Natural Gas Reserve Changes, bcf, 2009-2013 30
Table 21: Petroleos Mexicanos, Oil and Gas Reserves Life Index, Years, 2009-2013 31
Table 22: Petroleos Mexicanos, Oil and Gas Reserves Life Index, By Country/Region, Years, 2009-2013 33
Table 23: Petroleos Mexicanos, Upstream Capital Expenditure, US$ mil, 2009-2013 34
Table 24: Petroleos Mexicanos, Exploration and Development Costs, By Country/Region, US$ mil, 2009-2013 36
Table 25: Petroleos Mexicanos, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2009-2013 38
Table 26: Petroleos Mexicanos, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2009-2013 40
Table 27: Petroleos Mexicanos, Oil and Gas Production Replacement Ratio, %, 2009-2013 41
Table 28: Petroleos Mexicanos, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2009-2013 46
Table 29: Petroleos Mexicanos, Revenue and Expenses, US$ mil, 2009-2013 47
Table 30: Petroleos Mexicanos, Revenue and Expenses, By Country/Region, US$ mil, 2009-2013 51
Table 31: Petroleos Mexicanos, Oil and Gas Revenue and Expenses, US$/boe, 2009-2013 52
Table 32: Petroleos Mexicanos, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2009-2013 56
Table 33: Petroleos Mexicanos, Oil and Gas Performance Metrics, 2009-2013 57
Table 34: Petroleos Mexicanos, Land Holdings (Developed and Undeveloped Acreage), Acres, 2009-2013 58
Table 35: Petroleos Mexicanos, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2009-2013 60
Table 36: Petroleos Mexicanos, Producible Oil and Gas Wells, 2009-2013 61
Table 37: Petroleos Mexicanos, Producible Oil and Gas Wells, By Country/Region, 2009-2013 63
Table 38: Petroleos Mexicanos, Exploratory and Developed Wells, 2009-2013 64
Table 39: Petroleos Mexicanos, Exploratory and Developed Wells, By Country/Region, 2009-2013 65

List of Figures
Figure 1: Petroleos Mexicanos, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q2, 2013-Q2, 2014 9
Figure 2: Petroleos Mexicanos, Total Crude Oil and Natural Gas, Production, mmboe, Q2, 2013-Q2, 2014 11
Figure 3: Petroleos Mexicanos, Total Oil & Gas Production, By Country/Region, mmboe, Q2, 2013-Q2, 2014 12
Figure 4: Petroleos Mexicanos, Total Crude Oil Production, mmbbl, Q2, 2013-Q2, 2014 13
Figure 5: Petroleos Mexicanos, Crude Oil Production, By Country/Region, mmbbl, Q2, 2013-Q2, 2014 14
Figure 6: Petroleos Mexicanos, Total Natural Gas Production, bcf, Q2, 2013-Q2, 2014 15
Figure 7: Petroleos Mexicanos, Natural Gas Production, By Country/Region, bcf, Q2, 2013-Q2, 2014 16
Figure 8: Petroleos Mexicanos, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2009-2013 18
Figure 9: Petroleos Mexicanos, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2009-2013 20
Figure 10: Petroleos Mexicanos, Total Oil & Gas Production, By Country/Region, mmboe, 2009-2013 20
Figure 11: Petroleos Mexicanos, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2013 22
Figure 12: Petroleos Mexicanos, Crude Oil Production and Reserves Metrics, mmbbl, 2009-2013 23
Figure 13: Petroleos Mexicanos, Oil Reserves, End of Period, By Country/Region, mmbbl, 2009-2013 24
Figure 14: Petroleos Mexicanos, Oil Production, By Country/Region, mmbbl, 2009-2013 24
Figure 15: Petroleos Mexicanos, Crude Oil Reserve Changes, mmbbl, 2013 26
Figure 16: Petroleos Mexicanos, Natural Gas Production and Reserves Metrics, bcf, 2009-2013 27
Figure 17: Petroleos Mexicanos, Gas Reserves, End of Period, By Country/Region, bcf, 2009-2013 28
Figure 18: Petroleos Mexicanos, Gas Production, By Country/Region, bcf, 2009-2013 28
Figure 19: Petroleos Mexicanos, Natural Gas Reserve Changes, bcf, 2013 30
Figure 20: Petroleos Mexicanos, Oil and Gas Reserves Life Index, Years, 2009-2013 31
Figure 21: Petroleos Mexicanos, Gas Reserve Life Index, By Country/Region, Years, 2009-2013 32
Figure 22: Petroleos Mexicanos, Oil & Gas Reserve Life Index, By Country/Region, Years, 2009-2013 32
Figure 23: Petroleos Mexicanos, Oil Reserve Life Index, By Country/Region, Years, 2009-2013 33
Figure 24: Petroleos Mexicanos, Upstream Capital Expenditure, US$ mil, 2009-2013 34
Figure 25: Petroleos Mexicanos, Development Costs, By Country/Region, US$ mil, 2009-2013 35
Figure 26: Petroleos Mexicanos, Exploration Costs, By Country/Region, US$ mil, 2009-2013 35
Figure 27: Petroleos Mexicanos, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2009-2013 37
Figure 28: Petroleos Mexicanos, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2009-2013 39
Figure 29: Petroleos Mexicanos, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2009-2013 39
Figure 30: Petroleos Mexicanos, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2009-2013 40
Figure 31: Petroleos Mexicanos, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2009-2013 41
Figure 32: Petroleos Mexicanos, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2009-2013 43
Figure 33: Petroleos Mexicanos, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2009-2013 43
Figure 34: Petroleos Mexicanos, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2009-2013 44
Figure 35: Petroleos Mexicanos, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2009-2013 44
Figure 36: Petroleos Mexicanos, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2009-2013 45
Figure 37: Petroleos Mexicanos, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2009-2013 45
Figure 38: Petroleos Mexicanos, Revenue and Expenses, US$ mil, 2009-2013 47
Figure 39: Petroleos Mexicanos, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 48
Figure 40: Petroleos Mexicanos, Exploration Expenses, By Country/Region, US$ mil, 2009-2013 48
Figure 41: Petroleos Mexicanos, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 49
Figure 42: Petroleos Mexicanos, Oil & Gas Revenue, By Country/Region, US$ mil, 2009-2013 49
Figure 43: Petroleos Mexicanos, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 50
Figure 44: Petroleos Mexicanos, Production Costs, By Country/Region, US$ mil, 2009-2013 50
Figure 45: Petroleos Mexicanos, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 51
Figure 46: Petroleos Mexicanos, Oil and Gas Revenue and Expenses, US$/boe, 2009-2013 52
Figure 47: Petroleos Mexicanos, Exploration Expenses per boe, By Country/Region, US$/boe, 2009-2013 53
Figure 48: Petroleos Mexicanos, Lifting Cost per boe, By Country/Region, US$/boe, 2009-2013 53
Figure 49: Petroleos Mexicanos, Annual Net Income per boe, By Country/Region, US$/boe, 2009-2013 54
Figure 50: Petroleos Mexicanos, Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2009-2013 54
Figure 51: Petroleos Mexicanos, Total DD&A per boe, By Country/Region, US$/boe, 2009-2013 55
Figure 52: Petroleos Mexicanos, Total Revenue per boe, By Country/Region, US$/boe, 2009-2013 55
Figure 53: Petroleos Mexicanos, Oil and Gas Performance Metrics, 2009-2013 57
Figure 54: Petroleos Mexicanos, Land Holdings (Developed and Undeveloped Acreage), Acres, 2009-2013 58
Figure 55: Petroleos Mexicanos, Total Net Undeveloped Acreage, By Country/Region, Acres, 2009-2013 59
Figure 56: Petroleos Mexicanos, Total Net Developed Acreage, By Country/Region, Acres, 2009-2013 59
Figure 57: Petroleos Mexicanos, Producible Oil and Gas Wells, 2009-2013 61
Figure 58: Petroleos Mexicanos, Net Productive Gas Wells, By Country/Region, Number, 2009-2013 62
Figure 59: Petroleos Mexicanos, Net Productive Oil & Gas Wells, By Country/Region, Number, 2009-2013 62
Figure 60: Petroleos Mexicanos, Net Productive Oil Wells, By Country/Region, Number, 2009-2013 63
Figure 61: Petroleos Mexicanos, Exploratory and Developed Wells, 2009-2013 64


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