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

 Published On: Dec, 2014 |    No of Pages: 88 |  Published By: GlobalData | Format: PDF
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Summary

Repsol S.A. (Repsol) is an integrated global energy company. It undertakes all activities associated with the oil and gas industry, including exploration, development and production of crude oil and natural gas; transportation of oil products, liquefied petroleum gas (LPG) and natural gas; refining and production of petroleum products; and the retailing of oil products, oil derivatives, petrochemicals, LPG and natural gas. It also carries out the generation, transportation, distribution and supply of electricity. Repsol operates through four business segments, namely, Upstream, LNG, Downstream and Gas Natural Fenosa. The Upstream segment explores and produces oil and natural gas. The Liquefied Natural Gas (LNG) segment undertakes the liquefaction, transportation, marketing, and regasification of LNG. The Downstream segment refines and distributes oil products, chemicals and LPG. Gas Natural Fenosa undertakes the generation and distribution of electricity; and distribution of natural gas. Repsol operates in over 40 countries across Europe, South America, North America, Africa and Asia. The company is headquartered in Madrid, Spain. Repsol’s long-term growth strategy prioritizes the development of key business areas; effective diversification of assets portfolio and venturing into attractive market areas with suitable partners. In 2013, Repsol secured a 25% stake in EL-1134 block, a new offshore exploration block located in the Southern Flemish basin in Canada

Repsol 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 7
Key Information 7
Company Overview 7
Repsol S.A., Valuation and Financial Data 8
Repsol S.A., Share Price Performance 8
Share Price Performance, Q3, 2013-Q3, 2014 8
Repsol S.A., Key Valuation Metrics 9
Key Valuation Metrics, Q3, 2013-Q3, 2014 9
Repsol S.A., Quarterly E&P Costs Trends 10
Upstream Capital Expenditure, Q3, 2013-Q3, 2014 10
Repsol S.A., Quarterly Production Trends 11
Repsol S.A., Total Oil and Gas Production 11
Total Crude Oil and Natural Gas Production Trend, Q3, 2013-Q3, 2014 11
Total Crude Oil & Natural Gas Production, By Country/Region, Q3, 2013-Q3, 2014 12
Repsol S.A., Crude Oil Production 13
Total Crude Oil Production Trend, Q3, 2013-Q3, 2014 13
Crude Oil Production, By Country/Region, Q3, 2013-Q3, 2014 14
Repsol S.A., Natural Gas Production 15
Total Natural Gas Production Trend, Q3, 2013-Q3, 2014 15
Natural Gas Production, By Country/Region, Q3, 2013-Q3, 2014 16
Repsol S.A., Valuation and Financial Data, 2009-2013 17
Repsol S.A., Share Price Performance, 2009-2013 17
Share Price Performance, 2009-2013 17
Key Valuation Metrics, 2009-2013 18
Repsol S.A., 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 21
Total Crude Oil and Natural Gas Reserve Changes, 2009-2013 23
Crude Oil/Liquids Production and Reserve 24
Crude Oil/Liquids Production and Reserve Trend, 2009-2013 24
Crude Oil Production and Reserves By Country/Region, 2009-2013 25
Crude Oil/Liquids Reserve Changes, 2009-2013 27
Natural Gas Production and Reserve 28
Natural Gas Production and Reserve Trend, 2009-2013 28
Natural Gas Production and Reserves, By Country/Region, 2009-2013 29
Natural Gas Reserve Changes, 2009-2013 31
Total Crude Oil and Natural Gas Reserves Life Index 32
Total Crude Oil and Natural Gas Reserves Life Index, 2009-2013 32
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2009-2013 33
Repsol S.A., E&P Costs Trends 36
Allocation of the Upstream Capital Expenditure 36
Upstream Capital Expenditure, 2009-2013 36
Acquisition Costs By Country/Region, 2009-2013 37
Exploration and Development Costs, By Country/Region, 2009-2013 39
Oil and Gas Cost Per boe, US$/boe 41
Oil and Gas Cost Per boe, US$/boe, 2009-2013 41
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2009-2013 43
Repsol S.A., Reserve Replacement Ratio 46
Oil and Gas Production Replacement Ratio 46
Oil and Gas Production Replacement Ratio, 2009-2013 46
Oil and Gas Production Replacement Ratio, By Country/Region, 2009-2013 48
Repsol S.A., Results of Oil & Gas Operations Trend 53
Oil and Gas Revenue and Expenses 53
Oil and Gas Revenue and Expenses, 2009-2013 53
Oil and Gas Revenue and Expenses, By Country/Region, 2009-2013 54
Oil and Gas Revenue and Expenses, Per boe 61
Oil and Gas Revenue and Expenses, By boe, 2009-2013 61
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2009-2013 62
Oil and Gas Performance Metrics 68
Repsol S.A., Land Holdings and Well Data 69
Developed and Undeveloped Acreage 69
Gross and Net Developed and Undeveloped Acreage, 2009-2013 69
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2009-2013 70
Well Statistics 74
Producible Oil and Gas Well, 2009-2013 74
Producible Oil and Gas Well, By Country/Region, 2009-2013 75
Recent Developments 79
Repsol S.A. - Recent Developments 79
Nov 19, 2014: Repsol Starts Oil Exploration Off Canary Islands In Spain 79
Nov 12, 2014: Praxair Signs Long-Term Contract For Hydrogen Supply In Peru 79
Oct 30, 2014: IBM and Repsol Launch World’s First Cognitive Technologies Collaboration for Oil Industry Applications 79
Oct 13, 2014: Repsol-SK start production at the Cartagena base oil plant 80
Sep 22, 2014: Deep Sea Mooring wins contract with Repsol 81
Aug 27, 2014: Repsol to execute Phase 1 of Canary Islands oil exploration project 81
Jul 24, 2014: Repsol Posts Net Income Of 1.327 Billion Euros 81
Jul 04, 2014: Energy Minister Pleased With Fifth Major Discovery In The Last Two Years 84
Jul 03, 2014: Repsol Makes Oil Discovery In Trinidad And Tobago 84
Jun 23, 2014: Repsol makes Russia’s largest hydrocarbons discovery in two years 85
Appendix 86
Methodology 86
Coverage 86
Secondary Research 86
Primary Research 86
Data Information Sources 87
Company Source 87
SEC/Other Regulatory Filings 87
Other Sources 87
Expert Panel Validation 87
Data Definition 87
Oil and Gas Reserves 87
Units of Measure 88
About GlobalData 88
Disclosure 88
Disclaimer 88

List of Tables
Table 1: Repsol S.A., Key Facts 7
Table 2: Repsol S.A., Share Price Performance, Q3, 2013-Q3, 2014 8
Table 3: Repsol S.A., Key Valuation Metrics, Q3, 2013-Q3, 2014 9
Table 4: Repsol S.A., Upstream Capital Expenditure, Q3, 2013-Q3, 2014 10
Table 5: Repsol S.A., Total Crude Oil and Natural Gas, Production, Q3, 2013-Q3, 2014 11
Table 6: Repsol S.A., Total Oil & Gas Production, By Country/Region, mmboe, Q3, 2013-Q3, 2014 12
Table 7: Repsol S.A., Total Crude Oil Production, mmbbl, Q3, 2013-Q3, 2014 13
Table 8: Repsol S.A., Crude Oil Production, By Country/Region, mmbbl, Q3, 2013-Q3, 2014 14
Table 9: Repsol S.A., Total Natural Gas Production, bcf, Q3, 2013-Q3, 2014 15
Table 10: Repsol S.A., Natural Gas Production, By Country/Region, bcf, Q3, 2013-Q3, 2014 16
Table 11: Repsol S.A., Share Price Performance, 2009-2013 17
Table 12: Repsol S.A., Key Valuation Metrics, 2009-2013 18
Table 13: Repsol S.A., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2009-2013 20
Table 14: Repsol S.A., Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2009-2013 22
Table 15: Repsol S.A., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2009-2013 23
Table 16: Repsol S.A., Crude Oil Production and Reserves Metrics, mmbbl, 2009-2013 24
Table 17: Repsol S.A., Crude Oil Production and Reserves, By Country/Region, mmbbl, 2009-2013 26
Table 18: Repsol S.A., Crude Oil Reserve Changes, mmbbl, 2009-2013 27
Table 19: Repsol S.A., Natural Gas Production and Reserves Metrics, bcf, 2009-2013 28
Table 20: Repsol S.A., Natural Gas Production and Reserves, By Country/Region, bcf, 2009-2013 30
Table 21: Repsol S.A., Natural Gas Reserve Changes, bcf, 2009-2013 31
Table 22: Repsol S.A., Oil and Gas Reserves Life Index, Years, 2009-2013 32
Table 23: Repsol S.A., Oil and Gas Reserves Life Index, By Country/Region, Years, 2009-2013 34
Table 24: Repsol S.A., Upstream Capital Expenditure, US$ mil, 2009-2013 36
Table 25: Repsol S.A., Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2009-2013 38
Table 26: Repsol S.A., Exploration and Development Costs, By Country/Region, US$ mil, 2009-2013 40
Table 27: Repsol S.A., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2009-2013 41
Table 28: Repsol S.A., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2009-2013 44
Table 29: Repsol S.A., Oil and Gas Production Replacement Ratio, %, 2009-2013 46
Table 30: Repsol S.A., 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2009-2013 51
Table 31: Repsol S.A., Revenue and Expenses, US$ mil, 2009-2013 53
Table 32: Repsol S.A., Revenue and Expenses, By Country/Region, US$ mil, 2009-2013 58
Table 33: Repsol S.A., Oil and Gas Revenue and Expenses, US$/boe, 2009-2013 61
Table 34: Repsol S.A., Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2009-2013 65
Table 35: Repsol S.A., Oil and Gas Performance Metrics, 2009-2013 68
Table 36: Repsol S.A., Land Holdings (Developed and Undeveloped Acreage), Acres, 2009-2013 69
Table 37: Repsol S.A., Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2009-2013 72
Table 38: Repsol S.A., Producible Oil and Gas Wells, 2009-2013 74
Table 39: Repsol S.A., Producible Oil and Gas Wells, By Country/Region, 2009-2013 78

List of Figures
Figure 1: Repsol S.A., Share Price Performance, EUR/Share, Q3, 2013-Q3, 2014 8
Figure 2: Repsol S.A., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q3, 2013-Q3, 2014 9
Figure 3: Repsol S.A., Upstream Capital Expenditure, US$ mil, Q3, 2013-Q3, 2014 10
Figure 4: Repsol S.A., Total Crude Oil and Natural Gas, Production, mmboe, Q3, 2013-Q3, 2014 11
Figure 5: Repsol S.A., Total Oil & Gas Production, By Country/Region, mmboe, Q3, 2013-Q3, 2014 12
Figure 6: Repsol S.A., Total Crude Oil Production, mmbbl, Q3, 2013-Q3, 2014 13
Figure 7: Repsol S.A., Crude Oil Production, By Country/Region, mmbbl, Q3, 2013-Q3, 2014 14
Figure 8: Repsol S.A., Total Natural Gas Production, bcf, Q3, 2013-Q3, 2014 15
Figure 9: Repsol S.A., Natural Gas Production, By Country/Region, bcf, Q3, 2013-Q3, 2014 16
Figure 10: Repsol S.A., Share Price Performance, EUR/Share, 2009-2013 17
Figure 11: Repsol S.A., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2009-2013 18
Figure 12: Repsol S.A., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2009-2013 19
Figure 13: Repsol S.A., Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2009-2013 21
Figure 14: Repsol S.A., Total Oil & Gas Production, By Country/Region, mmboe, 2009-2013 21
Figure 15: Repsol S.A., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2013 23
Figure 16: Repsol S.A., Crude Oil Production and Reserves Metrics, mmbbl, 2009-2013 24
Figure 17: Repsol S.A., Oil Reserves, End of Period, By Country/Region, mmbbl, 2009-2013 25
Figure 18: Repsol S.A., Oil Production, By Country/Region, mmbbl, 2009-2013 25
Figure 19: Repsol S.A., Crude Oil Reserve Changes, mmbbl, 2013 27
Figure 20: Repsol S.A., Natural Gas Production and Reserves Metrics, bcf, 2009-2013 28
Figure 21: Repsol S.A., Gas Reserves, End of Period, By Country/Region, bcf, 2009-2013 29
Figure 22: Repsol S.A., Gas Production, By Country/Region, bcf, 2009-2013 29
Figure 23: Repsol S.A., Natural Gas Reserve Changes, bcf, 2013 31
Figure 24: Repsol S.A., Oil and Gas Reserves Life Index, Years, 2009-2013 32
Figure 25: Repsol S.A., Gas Reserve Life Index, By Country/Region, Years, 2009-2013 33
Figure 26: Repsol S.A., Oil & Gas Reserve Life Index, By Country/Region, Years, 2009-2013 33
Figure 27: Repsol S.A., Oil Reserve Life Index, By Country/Region, Years, 2009-2013 34
Figure 28: Repsol S.A., Upstream Capital Expenditure, US$ mil, 2009-2013 36
Figure 29: Repsol S.A., Proved Acquisition Costs, By Country/Region, US$ mil, 2009-2013 37
Figure 30: Repsol S.A., Unproved Acquisition Costs, By Country/Region, US$ mil, 2009-2013 37
Figure 31: Repsol S.A., Development Costs, By Country/Region, US$ mil, 2009-2013 39
Figure 32: Repsol S.A., Exploration Costs, By Country/Region, US$ mil, 2009-2013 39
Figure 33: Repsol S.A., 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2009-2013 41
Figure 34: Repsol S.A., Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2009-2013 43
Figure 35: Repsol S.A., Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2009-2013 43
Figure 36: Repsol S.A., Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2009-2013 44
Figure 37: Repsol S.A., 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2009-2013 46
Figure 38: Repsol S.A., 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2009-2013 48
Figure 39: Repsol S.A., 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2009-2013 48
Figure 40: Repsol S.A., 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2009-2013 49
Figure 41: Repsol S.A., 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2009-2013 49
Figure 42: Repsol S.A., 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2009-2013 50
Figure 43: Repsol S.A., 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2009-2013 50
Figure 44: Repsol S.A., Revenue and Expenses, US$ mil, 2009-2013 53
Figure 45: Repsol S.A., Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 54
Figure 46: Repsol S.A., Exploration Expenses, By Country/Region, US$ mil, 2009-2013 54
Figure 47: Repsol S.A., Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 55
Figure 48: Repsol S.A., Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 55
Figure 49: Repsol S.A., Oil & Gas Revenue, By Country/Region, US$ mil, 2009-2013 56
Figure 50: Repsol S.A., Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 56
Figure 51: Repsol S.A., Production Costs, By Country/Region, US$ mil, 2009-2013 57
Figure 52: Repsol S.A., Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 57
Figure 53: Repsol S.A., Oil and Gas Revenue and Expenses, US$/boe, 2009-2013 61
Figure 54: Repsol S.A., Exploration Expenses per boe, By Country/Region, US$/boe, 2009-2013 62
Figure 55: Repsol S.A., Income Tax/(Benefit) per boe, By Country/Region, US$/boe, 2009-2013 62
Figure 56: Repsol S.A., Lifting Cost per boe, By Country/Region, US$/boe, 2009-2013 63
Figure 57: Repsol S.A., Annual Net Income per boe, By Country/Region, US$/boe, 2009-2013 63
Figure 58: Repsol S.A., Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2009-2013 64
Figure 59: Repsol S.A., Total DD&A per boe, By Country/Region, US$/boe, 2009-2013 64
Figure 60: Repsol S.A., Total Revenue per boe, By Country/Region, US$/boe, 2009-2013 65
Figure 61: Repsol S.A., Oil and Gas Performance Metrics, 2009-2013 68
Figure 62: Repsol S.A., Land Holdings (Developed and Undeveloped Acreage), Acres, 2009-2013 69
Figure 63: Repsol S.A., Total Gross Undeveloped Acreage, By Country/Region, Acres, 2009-2013 70
Figure 64: Repsol S.A., Total Net Undeveloped Acreage, By Country/Region, Acres, 2009-2013 70
Figure 65: Repsol S.A., Total Gross Developed Acreage, By Country/Region, Acres, 2009-2013 71
Figure 66: Repsol S.A., Total Net Developed Acreage, By Country/Region, Acres, 2009-2013 71
Figure 67: Repsol S.A., Producible Oil and Gas Wells, 2009-2013 74
Figure 68: Repsol S.A., Gross Productive Gas Wells, By Country/Region, Number, 2009-2013 75
Figure 69: Repsol S.A., Gross Productive Oil & Gas Wells, By Country/Region, Number, 2009-2013 75
Figure 70: Repsol S.A., Gross Productive Oil Wells, By Country/Region, Number, 2009-2013 76
Figure 71: Repsol S.A., Net Productive Gas Wells, By Country/Region, Number, 2009-2013 77
Figure 72: Repsol S.A., Net Productive Oil & Gas Wells, By Country/Region, Number, 2009-2013 77


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