Birchcliff Energy Ltd. Oil & Gas Exploration and Production Operations and Cost Analysis - Q1, 2017

 Published On: Aug, 2017 |    No of Pages: 156 |  Published By: GlobalData | Format: PDF
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Summary

Birchcliff Energy Ltd. 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 metrics, analysis and provides a strategic insight into the company. The report provides an annual and quarterly overview of oil and gas reserves and production, changes in reserves, costs incurred and results of oil and gas operations, acreage and well details, share price performance and key valuation metrics.

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 following -
- The report provides detailed and unique insight information on the key operational metrics. It gives a comprehensive overview of oil and gas production and reserves, costs incurred and results of oil and gas operations, acreage and well details and other performance metrics.
- Provides details with respect to the company's oil and gas reserves and production information by country. It further consists of in-depth information on the company's expenditures in relation to the acquisition, exploration and development activities; developed and undeveloped acreage position; key costs and revenue information; and performance metrics of the company as disclosed in its annual reports and regulatory filings.
- Provides a comprehensive overview of the company's share price performance and key valuation metrics such as market capitalization, enterprise value, EV/Production ($boe/d) and EV/Proved Reserve ($/boe)
- Provides information on key operational and financial metrics on an annual and quarterly basis. The annual information provided is for a five-year period and the quarterly information is for the last five quarters.

*Note:

1. The scope mentioned above is generic and may not apply to all the companies. The report is based on the information disclosed by the companies in their annual and quarterly reports, regulatory filings and other company documents and sources.
2. Quarterly information is provided only for the companies that are December ending and files quarter reports and documents.
3. There can be cases where countries/regions data column/Charts will be blank. This can be due to the fact that the company might have discontinued the reporting of those countries/regions. Information that is not disclosed by the company may not be available in the report.

Reasons to buy

The report will enhance your decision making capability in a more rapid and time sensitive manner. It will allow you to -
- Be up-to-date with the latest information and in-depth analysis of the operational metrics of the company.
- Identify M&A targets from up-to-date information and in-depth analysis on financial and operational metrics of your competitors.
- Rank your performance against other companies in the exploration and production (E&P) sector 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 metrics.
- 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
Birchcliff Energy Ltd., Valuation and Financial Data 8
Birchcliff Energy Ltd., Share Price Performance 8
Share Price Performance, Q1, 2016-Q1, 2017 8
Birchcliff Energy Ltd., Key Valuation Metrics 9
Key Valuation Metrics, Q1, 2016-Q1, 2017 9
Birchcliff Energy Ltd., Quarterly Results of Oil & Gas Operations Per boe Produced 10
Results of Oil & Gas Operations Per boe Produced, Q1, 2016-Q1, 2017 10
Results of Oil & Gas Operations Per boe Growth Rates, Q1, 2016-Q1, 2017 11
Birchcliff Energy Ltd., Quarterly E&P Costs Trends 12
Upstream Capital Expenditure, Q1, 2016-Q1, 2017 12
Birchcliff Energy Ltd., Quarterly Production Trends 13
Birchcliff Energy Ltd., Total Oil and Gas Production 13
Total Crude Oil and Natural Gas Production Trend, Q1, 2016-Q1, 2017 13
Total Crude Oil & Natural Gas Production, By Country/Region, Q1, 2016-Q1, 2017 15
Birchcliff Energy Ltd., Crude Oil Production 16
Birchcliff Energy Ltd., Natural Gas Production 18
Total Natural Gas Production Trend, Q1, 2016-Q1, 2017 18
Natural Gas Production, By Country/Region, Q1, 2016-Q1, 2017 19
Birchcliff Energy Ltd., Valuation and Financial Data, 2012-2016 20
Birchcliff Energy Ltd., Share Price Performance, 2012-2016 20
Share Price Performance, 2012-2016 20
Key Valuation Metrics, 2012-2016 21
Birchcliff Energy Ltd., Production and Reserves Trends 22
Total Oil and Gas, Reserves and Production 22
Total Crude Oil and Natural Gas Production and Reserves Trend, 2012-2016 22
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2012-2016 24
Total Crude Oil and Natural Gas Reserve Changes, 2012-2016 26
Crude Oil/Liquids Production and Reserve 28
Crude Oil/Liquids Production and Reserve Trend, 2012-2016 28
Crude Oil Production and Reserves By Country/Region, 2012-2016 29
Crude Oil/Liquids Reserve Changes, 2012-2016 31
Natural Gas Production and Reserve 32
Natural Gas Production and Reserve Trend, 2012-2016 32
Natural Gas Production and Reserves, By Country/Region, 2012-2016 34
Natural Gas Reserve Changes, 2012-2016 36
Total Crude Oil and Natural Gas Reserves Life Index 37
Total Crude Oil and Natural Gas Reserves Life Index, 2012-2016 37
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2012-2016 38
Birchcliff Energy Ltd., E&P Costs Trends 40
Allocation of the Upstream Capital Expenditure 40
Upstream Capital Expenditure, 2012-2016 40
Acquisition Costs By Country/Region, 2012-2016 41
Exploration and Development Costs, By Country/Region, 2012-2016 42
Oil and Gas Cost Per boe, US$/boe 44
Oil and Gas Cost Per boe, US$/boe, 2012-2016 44
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2012-2016 46
Birchcliff Energy Ltd., Reserve Replacement Ratio 48
Oil and Gas Production Replacement Ratio 48
Oil and Gas Production Replacement Ratio, 2012-2016 48
Oil and Gas Production Replacement Ratio, By Country/Region, 2012-2016 51
Birchcliff Energy Ltd., Results of Oil & Gas Operations Trend 55
Oil and Gas Revenue and Expenses 55
Oil and Gas Revenue and Expenses, 2012-2016 55
Oil and Gas Revenue and Expenses, By Country/Region, 2012-2016 57
Oil and Gas Revenue and Expenses, Per boe 62
Oil and Gas Revenue and Expenses, By boe, 2012-2016 62
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2012-2016 63
Oil and Gas Performance Metrics 67
Birchcliff Energy Ltd., Land Holdings and Well Data 68
Developed and Undeveloped Acreage 68
Gross and Net Developed and Undeveloped Acreage, 2012-2016 68
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2012-2016 69
Well Statistics 71
Producible Oil and Gas Well, 2012-2016 71
Producible Oil and Gas Well, By Country/Region, 2012-2016 72
Exploration and Development Wells Drilled, 2012-2016 77
Exploration and Development Wells Drilled, By Country/Region, 2012-2016 79
Recent Developments 80
Birchcliff Energy Ltd. - Recent Developments 80
Aug 10, 2017: Birchcliff Announces Second Quarter 2017 Results And Updated Guidance 80
May 10, 2017: Birchcliff Energy Announces First Quarter 2017 Results, A Return To Profitability And Continued Operational Success 89
Mar 21, 2017: Birchcliff Energy Announces Sales Process For Charlie Lake Light Oil Resource Play 97
Mar 15, 2017: Birchcliff Energy announces production forecast for Q1 97
Feb 08, 2017: Birchcliff Energy Announces 2016 Year-End Results, Material Reserves Additions, 2017 Capital Program And Strong Gordondale Drilling Results 99
Nov 09, 2016: Birchcliff Energy Announces 2016 Third Quarter Results, 2021 Five Year Plan And Adoption Of Quarterly Dividend Policy 120
Aug 10, 2016: Birchcliff Announces 2016 Second Quarter Results, Update On Gordondale Acquisition And Appointment Of New Director 133
May 11, 2016: Birchcliff Energy Announces 2016 First Quarter Results And Record Quarterly Average Production 140
May 11, 2016: Birchcliff Energy Announces 2016 First Quarter Results 147
Mar 16, 2016: Birchcliff Energy Announces A Reduction In Its 2016 Capital Budget, Confirmation Of Its 2016 Production Guidance And The Filing Of Its 2015 Audited Annual Financial Statements 148
Appendix 152
Methodology 152
Coverage 152
Secondary Research 152
Primary Research 153
Data Information Sources 153
Company Source 153
SEC/Other Regulatory Filings 153
Other Sources 153
Expert Panel Validation 153
Data Definition 154
Oil and Gas Reserves 154
Units of Measure 154
About GlobalData 155
Disclosure 155
Disclaimer 155

List of Tables
Table 1: Birchcliff Energy Ltd., Key Facts 7
Table 2: Birchcliff Energy Ltd., Share Price Performance, Q1, 2016-Q1, 2017 8
Table 3: Birchcliff Energy Ltd., Key Valuation Metrics, Q1, 2016-Q1, 2017 9
Table 4: Birchcliff Energy Ltd., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q1, 2016-Q1, 2017 10
Table 5: Birchcliff Energy Ltd., Results of Oil & Gas Operations Per boe Growth Rates, %, Q1, 2016-Q1, 2017 11
Table 6: Birchcliff Energy Ltd., Upstream Capital Expenditure, Q1, 2016-Q1, 2017 12
Table 7: Birchcliff Energy Ltd., Total Crude Oil and Natural Gas, Production, Q1, 2016-Q1, 2017 14
Table 8: Birchcliff Energy Ltd., Total Oil & Gas Production, By Country/Region, mmboe, Q1, 2016-Q1, 2017 15
Table 9: Birchcliff Energy Ltd., Total Crude Oil Production, mmbbl, Q1, 2016-Q1, 2017 16
Table 10: Birchcliff Energy Ltd., Crude Oil Production, By Country/Region, mmbbl, Q1, 2016-Q1, 2017 17
Table 11: Birchcliff Energy Ltd., Total Natural Gas Production, bcf, Q1, 2016-Q1, 2017 18
Table 12: Birchcliff Energy Ltd., Natural Gas Production, By Country/Region, bcf, Q1, 2016-Q1, 2017 19
Table 13: Birchcliff Energy Ltd., Share Price Performance, 2012-2016 20
Table 14: Birchcliff Energy Ltd., Key Valuation Metrics, 2012-2016 21
Table 15: Birchcliff Energy Ltd., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2012-2016 23
Table 16: Birchcliff Energy Ltd., Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2012-2016 25
Table 17: Birchcliff Energy Ltd., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2012-2016 27
Table 18: Birchcliff Energy Ltd., Crude Oil Production and Reserves Metrics, mmbbl, 2012-2016 28
Table 19: Birchcliff Energy Ltd., Crude Oil Production and Reserves, By Country/Region, mmbbl, 2012-2016 30
Table 20: Birchcliff Energy Ltd., Crude Oil Reserve Changes, mmbbl, 2012-2016 31
Table 21: Birchcliff Energy Ltd., Natural Gas Production and Reserves Metrics, bcf, 2012-2016 33
Table 22: Birchcliff Energy Ltd., Natural Gas Production and Reserves, By Country/Region, bcf, 2012-2016 35
Table 23: Birchcliff Energy Ltd., Natural Gas Reserve Changes, bcf, 2012-2016 36
Table 24: Birchcliff Energy Ltd., Oil and Gas Reserves Life Index, Years, 2012-2016 37
Table 25: Birchcliff Energy Ltd., Oil and Gas Reserves Life Index, By Country/Region, Years, 2012-2016 39
Table 26: Birchcliff Energy Ltd., Upstream Capital Expenditure, US$ mil, 2012-2016 40
Table 27: Birchcliff Energy Ltd., Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2012-2016 41
Table 28: Birchcliff Energy Ltd., Exploration and Development Costs, By Country/Region, US$ mil, 2012-2016 43
Table 29: Birchcliff Energy Ltd., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2012-2016 45
Table 30: Birchcliff Energy Ltd., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2012-2016 47
Table 31: Birchcliff Energy Ltd., Oil and Gas Production Replacement Ratio, %, 2012-2016 49
Table 32: Birchcliff Energy Ltd., 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2012-2016 54
Table 33: Birchcliff Energy Ltd., Revenue and Expenses, US$ mil, 2012-2016 56
Table 34: Birchcliff Energy Ltd., Revenue and Expenses, By Country/Region, US$ mil, 2012-2016 61
Table 35: Birchcliff Energy Ltd., Oil and Gas Revenue and Expenses, US$/boe, 2012-2016 62
Table 36: Birchcliff Energy Ltd., Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2012-2016 66
Table 37: Birchcliff Energy Ltd., Oil and Gas Performance Metrics, 2012-2016 67
Table 38: Birchcliff Energy Ltd., Land Holdings (Developed and Undeveloped Acreage), Acres, 2012-2016 68
Table 39: Birchcliff Energy Ltd., Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2012-2016 70
Table 40: Birchcliff Energy Ltd., Producible Oil and Gas Wells, 2012-2016 71
Table 41: Birchcliff Energy Ltd., Producible Oil and Gas Wells, By Country/Region, 2012-2016 76
Table 42: Birchcliff Energy Ltd., Exploratory and Developed Wells, 2012-2016 78
Table 43: Birchcliff Energy Ltd., Exploratory and Developed Wells, By Country/Region, 2012-2016 79

List of Figures
Figure 1: Birchcliff Energy Ltd., Share Price Performance, CAD/Share, Q1, 2016-Q1, 2017 8
Figure 2: Birchcliff Energy Ltd., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q1, 2016-Q1, 2017 9
Figure 3: Birchcliff Energy Ltd., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q1, 2016-Q1, 2017 10
Figure 4: Birchcliff Energy Ltd., Upstream Capital Expenditure, US$ mil, Q1, 2016-Q1, 2017 12
Figure 5: Birchcliff Energy Ltd., Total Crude Oil and Natural Gas, Production, mmboe, Q1, 2016-Q1, 2017 13
Figure 6: Birchcliff Energy Ltd., Total Oil & Gas Production, By Country/Region, mmboe, Q1, 2016-Q1, 2017 15
Figure 7: Birchcliff Energy Ltd., Total Natural Gas Production, bcf, Q1, 2016-Q1, 2017 18
Figure 8: Birchcliff Energy Ltd., Natural Gas Production, By Country/Region, bcf, Q1, 2016-Q1, 2017 19
Figure 9: Birchcliff Energy Ltd., Share Price Performance, CAD/Share, 2012-2016 20
Figure 10: Birchcliff Energy Ltd., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2012-2016 21
Figure 11: Birchcliff Energy Ltd., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2012-2016 22
Figure 12: Birchcliff Energy Ltd., Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2012-2016 24
Figure 13: Birchcliff Energy Ltd., Total Oil & Gas Production, By Country/Region, mmboe, 2012-2016 24
Figure 14: Birchcliff Energy Ltd., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2016 26
Figure 15: Birchcliff Energy Ltd., Crude Oil Production and Reserves Metrics, mmbbl, 2012-2016 28
Figure 16: Birchcliff Energy Ltd., Oil Reserves, End of Period, By Country/Region, mmbbl, 2012-2016 29
Figure 17: Birchcliff Energy Ltd., Oil Production, By Country/Region, mmbbl, 2012-2016 29
Figure 18: Birchcliff Energy Ltd., Crude Oil Reserve Changes, mmbbl, 2016 31
Figure 19: Birchcliff Energy Ltd., Natural Gas Production and Reserves Metrics, bcf, 2012-2016 32
Figure 20: Birchcliff Energy Ltd., Gas Reserves, End of Period, By Country/Region, bcf, 2012-2016 34
Figure 21: Birchcliff Energy Ltd., Gas Production, By Country/Region, bcf, 2012-2016 34
Figure 22: Birchcliff Energy Ltd., Natural Gas Reserve Changes, bcf, 2016 36
Figure 23: Birchcliff Energy Ltd., Oil and Gas Reserves Life Index, Years, 2012-2016 37
Figure 24: Birchcliff Energy Ltd., Gas Reserve Life Index, By Country/Region, Years, 2012-2016 38
Figure 25: Birchcliff Energy Ltd., Oil & Gas Reserve Life Index, By Country/Region, Years, 2012-2016 38
Figure 26: Birchcliff Energy Ltd., Oil Reserve Life Index, By Country/Region, Years, 2012-2016 39
Figure 27: Birchcliff Energy Ltd., Upstream Capital Expenditure, US$ mil, 2012-2016 40
Figure 28: Birchcliff Energy Ltd., Proved Acquisition Costs, By Country/Region, US$ mil, 2012-2016 41
Figure 29: Birchcliff Energy Ltd., Development Costs, By Country/Region, US$ mil, 2012-2016 42
Figure 30: Birchcliff Energy Ltd., Exploration Costs, By Country/Region, US$ mil, 2012-2016 42
Figure 31: Birchcliff Energy Ltd., 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2012-2016 44
Figure 32: Birchcliff Energy Ltd., Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2012-2016 46
Figure 33: Birchcliff Energy Ltd., Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2012-2016 46
Figure 34: Birchcliff Energy Ltd., 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2012-2016 48
Figure 35: Birchcliff Energy Ltd., 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2012-2016 51
Figure 36: Birchcliff Energy Ltd., 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2012-2016 51
Figure 37: Birchcliff Energy Ltd., 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2012-2016 52
Figure 38: Birchcliff Energy Ltd., 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2012-2016 52
Figure 39: Birchcliff Energy Ltd., 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2012-2016 53
Figure 40: Birchcliff Energy Ltd., 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2012-2016 53
Figure 41: Birchcliff Energy Ltd., Revenue and Expenses, US$ mil, 2012-2016 55
Figure 42: Birchcliff Energy Ltd., Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2012-2016 57
Figure 43: Birchcliff Energy Ltd., Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2012-2016 57
Figure 44: Birchcliff Energy Ltd., Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2012-2016 58
Figure 45: Birchcliff Energy Ltd., Oil & Gas Revenue, By Country/Region, US$ mil, 2012-2016 58
Figure 46: Birchcliff Energy Ltd., Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2012-2016 59
Figure 47: Birchcliff Energy Ltd., Production Costs, By Country/Region, US$ mil, 2012-2016 59
Figure 48: Birchcliff Energy Ltd., Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2012-2016 60
Figure 49: Birchcliff Energy Ltd., Oil and Gas Revenue and Expenses, US$/boe, 2012-2016 62
Figure 50: Birchcliff Energy Ltd., Income Tax/(Benefit) per boe, By Country/Region, US$/boe, 2012-2016 63
Figure 51: Birchcliff Energy Ltd., Lifting Cost per boe, By Country/Region, US$/boe, 2012-2016 63
Figure 52: Birchcliff Energy Ltd., Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2012-2016 64
Figure 53: Birchcliff Energy Ltd., Total DD&A per boe, By Country/Region, US$/boe, 2012-2016 64
Figure 54: Birchcliff Energy Ltd., Total Revenue per boe, By Country/Region, US$/boe, 2012-2016 65
Figure 55: Birchcliff Energy Ltd., Oil and Gas Performance Metrics, 2012-2016 67
Figure 56: Birchcliff Energy Ltd., Land Holdings (Developed and Undeveloped Acreage), Acres, 2012-2016 68
Figure 57: Birchcliff Energy Ltd., Total Gross Undeveloped Acreage, By Country/Region, Acres, 2012-2016 69
Figure 58: Birchcliff Energy Ltd., Total Net Undeveloped Acreage, By Country/Region, Acres, 2012-2016 69
Figure 59: Birchcliff Energy Ltd., Producible Oil and Gas Wells, 2012-2016 71
Figure 60: Birchcliff Energy Ltd., Gross Productive Gas Wells, By Country/Region, Number, 2012-2016 72
Figure 61: Birchcliff Energy Ltd., Gross Productive Oil & Gas Wells, By Country/Region, Number, 2012-2016 72
Figure 62: Birchcliff Energy Ltd., Gross Productive Oil Wells, By Country/Region, Number, 2012-2016 73
Figure 63: Birchcliff Energy Ltd., Net/Gross Oil & Gas Ratio, By Country/Region, %, 2012-2016 73
Figure 64: Birchcliff Energy Ltd., Net Productive Gas Wells, By Country/Region, Number, 2012-2016 74
Figure 65: Birchcliff Energy Ltd., Net Productive Oil & Gas Wells, By Country/Region, Number, 2012-2016 74
Figure 66: Birchcliff Energy Ltd., Net Productive Oil Wells, By Country/Region, Number, 2012-2016 75
Figure 67: Birchcliff Energy Ltd., Exploratory and Developed Wells, 2012-2016 77


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