Concho Resources Inc. Oil & Gas Exploration and Production Operations and Cost Analysis - Q4, 2014

 Published On: May, 2015 |    No of Pages: 93 |  Published By: GlobalData | Format: PDF
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Summary

Concho Resources 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
Concho Resources Inc., Valuation and Financial Data 9
Concho Resources Inc., Share Price Performance 9
Share Price Performance, Q4, 2013-Q4, 2014 9
Concho Resources Inc., Key Valuation Metrics 10
Key Valuation Metrics, Q4, 2013-Q4, 2014 10
Concho Resources Inc., Quarterly Results of Oil & Gas Operations Per boe Produced 11
Results of Oil & Gas Operations Per boe Produced, Q4, 2013-Q4, 2014 11
Results of Oil & Gas Operations Per boe Growth Rates, Q4, 2013-Q4, 2014 12
Concho Resources Inc., Quarterly E&P Costs Trends 13
Upstream Capital Expenditure, Q4, 2013-Q4, 2014 13
Concho Resources Inc., Quarterly Production Trends 14
Concho Resources Inc., Total Oil and Gas Production 14
Total Crude Oil and Natural Gas Production Trend, Q4, 2013-Q4, 2014 14
Total Crude Oil & Natural Gas Production, By Country/Region, Q4, 2013-Q4, 2014 15
Concho Resources Inc., Crude Oil Production 16
Total Crude Oil Production Trend, Q4, 2013-Q4, 2014 16
Crude Oil Production, By Country/Region, Q4, 2013-Q4, 2014 17
Concho Resources Inc., Natural Gas Production 18
Total Natural Gas Production Trend, Q4, 2013-Q4, 2014 18
Natural Gas Production, By Country/Region, Q4, 2013-Q4, 2014 19
Concho Resources Inc., Valuation and Financial Data, 2010-2014 20
Concho Resources Inc., Share Price Performance, 2010-2014 20
Share Price Performance, 2010-2014 20
Key Valuation Metrics, 2010-2014 21
Concho Resources 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
Concho Resources 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 41
Oil and Gas Cost Per boe, US$/boe 43
Oil and Gas Cost Per boe, US$/boe, 2010-2014 43
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2010-2014 45
Concho Resources Inc., Reserve Replacement Ratio 47
Oil and Gas Production Replacement Ratio 47
Oil and Gas Production Replacement Ratio, 2010-2014 47
Oil and Gas Production Replacement Ratio, By Country/Region, 2010-2014 49
Concho Resources Inc., Results of Oil & Gas Operations Trend 53
Oil and Gas Revenue and Expenses 53
Oil and Gas Revenue and Expenses, 2010-2014 53
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
Concho Resources 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 69
Producible Oil and Gas Well, 2010-2014 69
Producible Oil and Gas Well, By Country/Region, 2010-2014 70
Exploration and Development Wells Drilled, 2010-2014 74
Exploration and Development Wells Drilled, By Country/Region, 2010-2014 75
Recent Developments 76
Concho Resources Inc. - Recent Developments 76
Apr 28, 2015: Mexco Energy Announces Development Of Properties 76
Feb 25, 2015: Concho Resources Reports 2014 Proved Reserves 76
Feb 25, 2015: Concho Resources Reports Fourth Quarter And Full-Year 2014 Results 77
Jan 05, 2015: Concho Resources Updates 2015 Capital Program 80
Nov 06, 2014: Concho Resources Announces Resignation of A. Wellford Tabor From Its Board Of Directors 81
Nov 05, 2014: Concho Resources Reports Third Quarter 2014 Results And Provides 2015 Outlook 81
Aug 07, 2014: Concho Resources Reports Second Quarter 2014 Financial and Operating Results 84
May 29, 2014: Alpha Crude Connector Announces Open Season 87
May 15, 2014: Concho Resources Expands Management Team 87
May 12, 2014: Concho Resources Reports First Quarter 2014 Financial and Operating Results; Announces Midstream Joint Venture in the Northern Delaware Basin 88
Appendix 91
Methodology 91
Coverage 91
Secondary Research 91
Primary Research 91
Data Information Sources 92
Company Source 92
SEC/Other Regulatory Filings 92
Other Sources 92
Expert Panel Validation 92
Data Definition 92
Oil and Gas Reserves 92
Units of Measure 93
About GlobalData 93
Disclosure 93
Disclaimer 93

List of Tables
Table 1: Concho Resources Inc., Key Facts 8
Table 2: Concho Resources Inc., Share Price Performance, Q4, 2013-Q4, 2014 9
Table 3: Concho Resources Inc., Key Valuation Metrics, Q4, 2013-Q4, 2014 10
Table 4: Concho Resources Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2013-Q4, 2014 11
Table 5: Concho Resources Inc., Results of Oil & Gas Operations Per boe Growth Rates, %, Q4, 2013-Q4, 2014 12
Table 6: Concho Resources Inc., Upstream Capital Expenditure, Q4, 2013-Q4, 2014 13
Table 7: Concho Resources Inc., Total Crude Oil and Natural Gas, Production, Q4, 2013-Q4, 2014 14
Table 8: Concho Resources Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2013-Q4, 2014 15
Table 9: Concho Resources Inc., Total Crude Oil Production, mmbbl, Q4, 2013-Q4, 2014 16
Table 10: Concho Resources Inc., Crude Oil Production, By Country/Region, mmbbl, Q4, 2013-Q4, 2014 17
Table 11: Concho Resources Inc., Total Natural Gas Production, bcf, Q4, 2013-Q4, 2014 18
Table 12: Concho Resources Inc., Natural Gas Production, By Country/Region, bcf, Q4, 2013-Q4, 2014 19
Table 13: Concho Resources Inc., Share Price Performance, 2010-2014 20
Table 14: Concho Resources Inc., Key Valuation Metrics, 2010-2014 21
Table 15: Concho Resources Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2010-2014 23
Table 16: Concho Resources Inc., Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2010-2014 25
Table 17: Concho Resources Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2010-2014 26
Table 18: Concho Resources Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2010-2014 27
Table 19: Concho Resources Inc., Crude Oil Production and Reserves, By Country/Region, mmbbl, 2010-2014 29
Table 20: Concho Resources Inc., Crude Oil Reserve Changes, mmbbl, 2010-2014 30
Table 21: Concho Resources Inc., Natural Gas Production and Reserves Metrics, bcf, 2010-2014 31
Table 22: Concho Resources Inc., Natural Gas Production and Reserves, By Country/Region, bcf, 2010-2014 33
Table 23: Concho Resources Inc., Natural Gas Reserve Changes, bcf, 2010-2014 34
Table 24: Concho Resources Inc., Oil and Gas Reserves Life Index, Years, 2010-2014 35
Table 25: Concho Resources Inc., Oil and Gas Reserves Life Index, By Country/Region, Years, 2010-2014 37
Table 26: Concho Resources Inc., Upstream Capital Expenditure, US$ mil, 2010-2014 38
Table 27: Concho Resources Inc., Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2010-2014 40
Table 28: Concho Resources Inc., Exploration and Development Costs, By Country/Region, US$ mil, 2010-2014 42
Table 29: Concho Resources Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2010-2014 43
Table 30: Concho Resources Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2010-2014 46
Table 31: Concho Resources Inc., Oil and Gas Production Replacement Ratio, %, 2010-2014 47
Table 32: Concho Resources Inc., 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2010-2014 52
Table 33: Concho Resources Inc., Revenue and Expenses, US$ mil, 2010-2014 53
Table 34: Concho Resources Inc., Revenue and Expenses, By Country/Region, US$ mil, 2010-2014 58
Table 35: Concho Resources Inc., Oil and Gas Revenue and Expenses, US$/boe, 2010-2014 59
Table 36: Concho Resources Inc., Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2010-2014 63
Table 37: Concho Resources Inc., Oil and Gas Performance Metrics, 2010-2014 64
Table 38: Concho Resources Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2010-2014 65
Table 39: Concho Resources Inc., Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2010-2014 68
Table 40: Concho Resources Inc., Producible Oil and Gas Wells, 2010-2014 69
Table 41: Concho Resources Inc., Producible Oil and Gas Wells, By Country/Region, 2010-2014 73
Table 42: Concho Resources Inc., Exploratory and Developed Wells, 2010-2014 74
Table 43: Concho Resources Inc., Exploratory and Developed Wells, By Country/Region, 2010-2014 75

List of Figures
Figure 1: Concho Resources Inc., Share Price Performance, USD/Share, Q4, 2013-Q4, 2014 9
Figure 2: Concho Resources Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q4, 2013-Q4, 2014 10
Figure 3: Concho Resources Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2013-Q4, 2014 11
Figure 4: Concho Resources Inc., Upstream Capital Expenditure, US$ mil, Q4, 2013-Q4, 2014 13
Figure 5: Concho Resources Inc., Total Crude Oil and Natural Gas, Production, mmboe, Q4, 2013-Q4, 2014 14
Figure 6: Concho Resources Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2013-Q4, 2014 15
Figure 7: Concho Resources Inc., Total Crude Oil Production, mmbbl, Q4, 2013-Q4, 2014 16
Figure 8: Concho Resources Inc., Crude Oil Production, By Country/Region, mmbbl, Q4, 2013-Q4, 2014 17
Figure 9: Concho Resources Inc., Total Natural Gas Production, bcf, Q4, 2013-Q4, 2014 18
Figure 10: Concho Resources Inc., Natural Gas Production, By Country/Region, bcf, Q4, 2013-Q4, 2014 19
Figure 11: Concho Resources Inc., Share Price Performance, USD/Share, 2010-2014 20
Figure 12: Concho Resources Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2010-2014 21
Figure 13: Concho Resources Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2010-2014 22
Figure 14: Concho Resources Inc., Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2010-2014 24
Figure 15: Concho Resources Inc., Total Oil & Gas Production, By Country/Region, mmboe, 2010-2014 24
Figure 16: Concho Resources Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2014 26
Figure 17: Concho Resources Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2010-2014 27
Figure 18: Concho Resources Inc., Oil Reserves, End of Period, By Country/Region, mmbbl, 2010-2014 28
Figure 19: Concho Resources Inc., Oil Production, By Country/Region, mmbbl, 2010-2014 28
Figure 20: Concho Resources Inc., Crude Oil Reserve Changes, mmbbl, 2014 30
Figure 21: Concho Resources Inc., Natural Gas Production and Reserves Metrics, bcf, 2010-2014 31
Figure 22: Concho Resources Inc., Gas Reserves, End of Period, By Country/Region, bcf, 2010-2014 32
Figure 23: Concho Resources Inc., Gas Production, By Country/Region, bcf, 2010-2014 32
Figure 24: Concho Resources Inc., Natural Gas Reserve Changes, bcf, 2014 34
Figure 25: Concho Resources Inc., Oil and Gas Reserves Life Index, Years, 2010-2014 35
Figure 26: Concho Resources Inc., Gas Reserve Life Index, By Country/Region, Years, 2010-2014 36
Figure 27: Concho Resources Inc., Oil & Gas Reserve Life Index, By Country/Region, Years, 2010-2014 36
Figure 28: Concho Resources Inc., Oil Reserve Life Index, By Country/Region, Years, 2010-2014 37
Figure 29: Concho Resources Inc., Upstream Capital Expenditure, US$ mil, 2010-2014 38
Figure 30: Concho Resources Inc., Proved Acquisition Costs, By Country/Region, US$ mil, 2010-2014 39
Figure 31: Concho Resources Inc., Unproved Acquisition Costs, By Country/Region, US$ mil, 2010-2014 39
Figure 32: Concho Resources Inc., Development Costs, By Country/Region, US$ mil, 2010-2014 41
Figure 33: Concho Resources Inc., Exploration Costs, By Country/Region, US$ mil, 2010-2014 41
Figure 34: Concho Resources Inc., 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2010-2014 43
Figure 35: Concho Resources Inc., Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2010-2014 45
Figure 36: Concho Resources Inc., Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2010-2014 45
Figure 37: Concho Resources Inc., Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2010-2014 46
Figure 38: Concho Resources Inc., 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2010-2014 47
Figure 39: Concho Resources Inc., 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2010-2014 49
Figure 40: Concho Resources Inc., 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2010-2014 49
Figure 41: Concho Resources Inc., 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2010-2014 50
Figure 42: Concho Resources Inc., 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2010-2014 50
Figure 43: Concho Resources Inc., 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2010-2014 51
Figure 44: Concho Resources Inc., 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2010-2014 51
Figure 45: Concho Resources Inc., Revenue and Expenses, US$ mil, 2010-2014 53
Figure 46: Concho Resources Inc., Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 54
Figure 47: Concho Resources Inc., Exploration Expenses, By Country/Region, US$ mil, 2010-2014 54
Figure 48: Concho Resources Inc., Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 55
Figure 49: Concho Resources Inc., Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 55
Figure 50: Concho Resources Inc., Oil & Gas Revenue, By Country/Region, US$ mil, 2010-2014 56
Figure 51: Concho Resources Inc., Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 56
Figure 52: Concho Resources Inc., Production Costs, By Country/Region, US$ mil, 2010-2014 57
Figure 53: Concho Resources Inc., Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2010-2014 57
Figure 54: Concho Resources Inc., Oil and Gas Revenue and Expenses, US$/boe, 2010-2014 59
Figure 55: Concho Resources Inc., Exploration Expenses per boe, By Country/Region, US$/boe, 2010-2014 60
Figure 56: Concho Resources Inc., Income Tax/(Benefit) per boe, By Country/Region, US$/boe, 2010-2014 60
Figure 57: Concho Resources Inc., Lifting Cost per boe, By Country/Region, US$/boe, 2010-2014 61
Figure 58: Concho Resources Inc., Annual Net Income per boe, By Country/Region, US$/boe, 2010-2014 61
Figure 59: Concho Resources Inc., Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2010-2014 62
Figure 60: Concho Resources Inc., Total DD&A per boe, By Country/Region, US$/boe, 2010-2014 62
Figure 61: Concho Resources Inc., Total Revenue per boe, By Country/Region, US$/boe, 2010-2014 63
Figure 62: Concho Resources Inc., Oil and Gas Performance Metrics, 2010-2014 64
Figure 63: Concho Resources Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2010-2014 65
Figure 64: Concho Resources Inc., Total Gross Undeveloped Acreage, By Country/Region, Acres, 2010-2014 66
Figure 65: Concho Resources Inc., Total Net Undeveloped Acreage, By Country/Region, Acres, 2010-2014 66
Figure 66: Concho Resources Inc., Total Gross Developed Acreage, By Country/Region, Acres, 2010-2014 67
Figure 67: Concho Resources Inc., Total Net Developed Acreage, By Country/Region, Acres, 2010-2014 67
Figure 68: Concho Resources Inc., Producible Oil and Gas Wells, 2010-2014 69
Figure 69: Concho Resources Inc., Gross Productive Gas Wells, By Country/Region, Number, 2010-2014 70
Figure 70: Concho Resources Inc., Gross Productive Oil & Gas Wells, By Country/Region, Number, 2010-2014 70
Figure 71: Concho Resources Inc., Gross Productive Oil Wells, By Country/Region, Number, 2010-2014 71
Figure 72: Concho Resources Inc., Net/Gross Oil & Gas Ratio, By Country/Region, %, 2010-2014 71
Figure 73: Concho Resources Inc., Net Productive Gas Wells, By Country/Region, Number, 2010-2014 72
Figure 74: Concho Resources Inc., Net Productive Oil & Gas Wells, By Country/Region, Number, 2010-2014 72
Figure 75: Concho Resources Inc., Net Productive Oil Wells, By Country/Region, Number, 2010-2014 73
Figure 76: Concho Resources Inc., Exploratory and Developed Wells, 2010-2014 74


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