Cenovus Energy Inc Oil & Gas Exploration and Production Operations and Cost Analysis - Q4, 2016

 Published On: Jun, 2017 |    No of Pages: 109 |  Published By: GlobalData | Format: PDF
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Summary

Cenovus Energy Inc (Cenovus Energy) is an oil and gas company, which explores, develops and produces crude oil and natural gas. The company also carries out processing of natural gas liquids. Cenovus Energy produces natural gas and oil through conventional and oil sands reserves. Its project portfolio includes Foster Creek, Christina Lake, Pelican and Narrows Lake as well as early stage properties such as Grand Rapids and Telephone Lake. Through a joint venture with Phillips 66, Cenovus Energy has a 50% ownership interest in two refineries: Wood River Refinery in Illinois and Borger Refinery in Texas. Cenovus Energy is headquartered in Calgary, Alberta, Canada.

Cenovus Energy 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 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
Cenovus Energy Inc, Valuation and Financial Data 8
Cenovus Energy Inc, Share Price Performance 8
Share Price Performance, Q4, 2015-Q4, 2016 8
Cenovus Energy Inc, Key Valuation Metrics 9
Key Valuation Metrics, Q4, 2015-Q4, 2016 9
Cenovus Energy Inc, Quarterly Results of Oil & Gas Operations Per boe Produced 10
Results of Oil & Gas Operations Per boe Produced, Q4, 2015-Q4, 2016 10
Results of Oil & Gas Operations Per boe Growth Rates, Q4, 2015-Q4, 2016 11
Cenovus Energy Inc, Quarterly E&P Costs Trends 12
Upstream Capital Expenditure, Q4, 2015-Q4, 2016 12
Cenovus Energy Inc, Quarterly Production Trends 13
Cenovus Energy Inc, Total Oil and Gas Production 13
Total Crude Oil and Natural Gas Production Trend, Q4, 2015-Q4, 2016 13
Total Crude Oil & Natural Gas Production, By Country/Region, Q4, 2015-Q4, 2016 14
Cenovus Energy Inc, Crude Oil Production 15
Total Crude Oil Production Trend, Q4, 2015-Q4, 2016 15
Crude Oil Production, By Country/Region, Q4, 2015-Q4, 2016 16
Cenovus Energy Inc, Natural Gas Production 17
Total Natural Gas Production Trend, Q4, 2015-Q4, 2016 17
Natural Gas Production, By Country/Region, Q4, 2015-Q4, 2016 18
Cenovus Energy Inc, Valuation and Financial Data, 2012-2016 19
Cenovus Energy Inc, Share Price Performance, 2012-2016 19
Share Price Performance, 2012-2016 19
Key Valuation Metrics, 2012-2016 20
Cenovus Energy Inc, Production and Reserves Trends 21
Total Oil and Gas, Reserves and Production 21
Total Crude Oil and Natural Gas Production and Reserves Trend, 2012-2016 21
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2012-2016 23
Total Crude Oil and Natural Gas Reserve Changes, 2012-2016 25
Crude Oil/Liquids Production and Reserve 26
Crude Oil/Liquids Production and Reserve Trend, 2012-2016 26
Crude Oil Production and Reserves By Country/Region, 2012-2016 27
Crude Oil/Liquids Reserve Changes, 2012-2016 29
Natural Gas Production and Reserve 30
Natural Gas Production and Reserve Trend, 2012-2016 30
Natural Gas Production and Reserves, By Country/Region, 2012-2016 31
Natural Gas Reserve Changes, 2012-2016 33
Total Crude Oil and Natural Gas Reserves Life Index 34
Total Crude Oil and Natural Gas Reserves Life Index, 2012-2016 34
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2012-2016 35
Cenovus Energy Inc, E&P Costs Trends 37
Allocation of the Upstream Capital Expenditure 37
Upstream Capital Expenditure, 2012-2016 37
Acquisition Costs By Country/Region, 2012-2016 38
Exploration and Development Costs, By Country/Region, 2012-2016 39
Oil and Gas Cost Per boe, US$/boe 41
Oil and Gas Cost Per boe, US$/boe, 2012-2016 41
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2012-2016 43
Cenovus Energy Inc, Reserve Replacement Ratio 45
Oil and Gas Production Replacement Ratio 45
Oil and Gas Production Replacement Ratio, 2012-2016 45
Oil and Gas Production Replacement Ratio, By Country/Region, 2012-2016 48
Cenovus Energy Inc, Results of Oil & Gas Operations Trend 52
Oil and Gas Revenue and Expenses 52
Oil and Gas Revenue and Expenses, 2012-2016 52
Oil and Gas Revenue and Expenses, By Country/Region, 2012-2016 54
Oil and Gas Revenue and Expenses, Per boe 59
Oil and Gas Revenue and Expenses, By boe, 2012-2016 59
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2012-2016 60
Oil and Gas Performance Metrics 64
Cenovus Energy Inc, Land Holdings and Well Data 65
Developed and Undeveloped Acreage 65
Gross and Net Developed and Undeveloped Acreage, 2012-2016 65
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2012-2016 66
Well Statistics 69
Producible Oil and Gas Well, 2012-2016 69
Producible Oil and Gas Well, By Country/Region, 2012-2016 70
Exploration and Development Wells Drilled, 2012-2016 75
Recent Developments 77
Cenovus Energy Inc - Recent Developments 77
May 11, 2017: Alberta Innovates And Natural Resources Canada Announce $26.2M In Funding For Oil And Gas Clean Tech Projects, Iindustry To Kick In Additional $43.3M 77
May 05, 2017: ConocoPhillips To Lay Off 300 Canadian Workers 77
Apr 26, 2017: Cenovus Delivers Strong First Quarter Operational Performance 78
Mar 29, 2017: Cenovus To Double Production And Reserves In Canada 83
Feb 22, 2017: ConocoPhillips Revises Down About 1.2 Billion Barrels Of Oil Sands Reserves 88
Feb 16, 2017: Cenovus Delivers Strong Operational Performance In 2016 89
Dec 08, 2016: Cenovus Energy announces capital budget for 2017 95
Dec 01, 2016: Cenovus Energy appoints new board member 97
Nov 23, 2016: Government Of Alberta: Oil Sands Emissions Cap Drives Innovation 98
Oct 27, 2016: Cenovus Has Strong Third-Quarter Operational Performance 99
Appendix 106
Methodology 106
Coverage 106
Secondary Research 106
Primary Research 107
Data Information Sources 107
Company Source 107
SEC/Other Regulatory Filings 107
Other Sources 107
Expert Panel Validation 107
Data Definition 108
Oil and Gas Reserves 108
Units of Measure 108
About GlobalData 109
Disclosure 109
Disclaimer 109

List of Tables
Table 1: Cenovus Energy Inc, Key Facts 7
Table 2: Cenovus Energy Inc, Share Price Performance, Q4, 2015-Q4, 2016 8
Table 3: Cenovus Energy Inc, Key Valuation Metrics, Q4, 2015-Q4, 2016 9
Table 4: Cenovus Energy Inc, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2015-Q4, 2016 10
Table 5: Cenovus Energy Inc, Results of Oil & Gas Operations Per boe Growth Rates, %, Q4, 2015-Q4, 2016 11
Table 6: Cenovus Energy Inc, Upstream Capital Expenditure, Q4, 2015-Q4, 2016 12
Table 7: Cenovus Energy Inc, Total Crude Oil and Natural Gas, Production, Q4, 2015-Q4, 2016 13
Table 8: Cenovus Energy Inc, Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2015-Q4, 2016 14
Table 9: Cenovus Energy Inc, Total Crude Oil Production, mmbbl, Q4, 2015-Q4, 2016 15
Table 10: Cenovus Energy Inc, Crude Oil Production, By Country/Region, mmbbl, Q4, 2015-Q4, 2016 16
Table 11: Cenovus Energy Inc, Total Natural Gas Production, bcf, Q4, 2015-Q4, 2016 17
Table 12: Cenovus Energy Inc, Natural Gas Production, By Country/Region, bcf, Q4, 2015-Q4, 2016 18
Table 13: Cenovus Energy Inc, Share Price Performance, 2012-2016 19
Table 14: Cenovus Energy Inc, Key Valuation Metrics, 2012-2016 20
Table 15: Cenovus Energy Inc, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2012-2016 22
Table 16: Cenovus Energy Inc, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2012-2016 24
Table 17: Cenovus Energy Inc, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2012-2016 25
Table 18: Cenovus Energy Inc, Crude Oil Production and Reserves Metrics, mmbbl, 2012-2016 26
Table 19: Cenovus Energy Inc, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2012-2016 28
Table 20: Cenovus Energy Inc, Crude Oil Reserve Changes, mmbbl, 2012-2016 29
Table 21: Cenovus Energy Inc, Natural Gas Production and Reserves Metrics, bcf, 2012-2016 30
Table 22: Cenovus Energy Inc, Natural Gas Production and Reserves, By Country/Region, bcf, 2012-2016 32
Table 23: Cenovus Energy Inc, Natural Gas Reserve Changes, bcf, 2012-2016 33
Table 24: Cenovus Energy Inc, Oil and Gas Reserves Life Index, Years, 2012-2016 34
Table 25: Cenovus Energy Inc, Oil and Gas Reserves Life Index, By Country/Region, Years, 2012-2016 36
Table 26: Cenovus Energy Inc, Upstream Capital Expenditure, US$ mil, 2012-2016 37
Table 27: Cenovus Energy Inc, Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2012-2016 38
Table 28: Cenovus Energy Inc, Exploration and Development Costs, By Country/Region, US$ mil, 2012-2016 40
Table 29: Cenovus Energy Inc, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2012-2016 42
Table 30: Cenovus Energy Inc, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2012-2016 44
Table 31: Cenovus Energy Inc, Oil and Gas Production Replacement Ratio, %, 2012-2016 46
Table 32: Cenovus Energy Inc, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2012-2016 51
Table 33: Cenovus Energy Inc, Revenue and Expenses, US$ mil, 2012-2016 53
Table 34: Cenovus Energy Inc, Revenue and Expenses, By Country/Region, US$ mil, 2012-2016 58
Table 35: Cenovus Energy Inc, Oil and Gas Revenue and Expenses, US$/boe, 2012-2016 59
Table 36: Cenovus Energy Inc, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2012-2016 63
Table 37: Cenovus Energy Inc, Oil and Gas Performance Metrics, 2012-2016 64
Table 38: Cenovus Energy Inc, Land Holdings (Developed and Undeveloped Acreage), Acres, 2012-2016 65
Table 39: Cenovus Energy Inc, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2012-2016 68
Table 40: Cenovus Energy Inc, Producible Oil and Gas Wells, 2012-2016 69
Table 41: Cenovus Energy Inc, Producible Oil and Gas Wells, By Country/Region, 2012-2016 74
Table 42: Cenovus Energy Inc, Exploratory and Developed Wells, 2012-2016 76

List of Figures
Figure 1: Cenovus Energy Inc, Share Price Performance, CAD/Share, Q4, 2015-Q4, 2016 8
Figure 2: Cenovus Energy Inc, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q4, 2015-Q4, 2016 9
Figure 3: Cenovus Energy Inc, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2015-Q4, 2016 10
Figure 4: Cenovus Energy Inc, Upstream Capital Expenditure, US$ mil, Q4, 2015-Q4, 2016 12
Figure 5: Cenovus Energy Inc, Total Crude Oil and Natural Gas, Production, mmboe, Q4, 2015-Q4, 2016 13
Figure 6: Cenovus Energy Inc, Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2015-Q4, 2016 14
Figure 7: Cenovus Energy Inc, Total Crude Oil Production, mmbbl, Q4, 2015-Q4, 2016 15
Figure 8: Cenovus Energy Inc, Crude Oil Production, By Country/Region, mmbbl, Q4, 2015-Q4, 2016 16
Figure 9: Cenovus Energy Inc, Total Natural Gas Production, bcf, Q4, 2015-Q4, 2016 17
Figure 10: Cenovus Energy Inc, Natural Gas Production, By Country/Region, bcf, Q4, 2015-Q4, 2016 18
Figure 11: Cenovus Energy Inc, Share Price Performance, CAD/Share, 2012-2016 19
Figure 12: Cenovus Energy Inc, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2012-2016 20
Figure 13: Cenovus Energy Inc, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2012-2016 21
Figure 14: Cenovus Energy Inc, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2012-2016 23
Figure 15: Cenovus Energy Inc, Total Oil & Gas Production, By Country/Region, mmboe, 2012-2016 23
Figure 16: Cenovus Energy Inc, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2016 25
Figure 17: Cenovus Energy Inc, Crude Oil Production and Reserves Metrics, mmbbl, 2012-2016 26
Figure 18: Cenovus Energy Inc, Oil Reserves, End of Period, By Country/Region, mmbbl, 2012-2016 27
Figure 19: Cenovus Energy Inc, Oil Production, By Country/Region, mmbbl, 2012-2016 27
Figure 20: Cenovus Energy Inc, Crude Oil Reserve Changes, mmbbl, 2016 29
Figure 21: Cenovus Energy Inc, Natural Gas Production and Reserves Metrics, bcf, 2012-2016 30
Figure 22: Cenovus Energy Inc, Gas Reserves, End of Period, By Country/Region, bcf, 2012-2016 31
Figure 23: Cenovus Energy Inc, Gas Production, By Country/Region, bcf, 2012-2016 31
Figure 24: Cenovus Energy Inc, Natural Gas Reserve Changes, bcf, 2016 33
Figure 25: Cenovus Energy Inc, Oil and Gas Reserves Life Index, Years, 2012-2016 34
Figure 26: Cenovus Energy Inc, Gas Reserve Life Index, By Country/Region, Years, 2012-2016 35
Figure 27: Cenovus Energy Inc, Oil & Gas Reserve Life Index, By Country/Region, Years, 2012-2016 35
Figure 28: Cenovus Energy Inc, Oil Reserve Life Index, By Country/Region, Years, 2012-2016 36
Figure 29: Cenovus Energy Inc, Upstream Capital Expenditure, US$ mil, 2012-2016 37
Figure 30: Cenovus Energy Inc, Unproved Acquisition Costs, By Country/Region, US$ mil, 2012-2016 38
Figure 31: Cenovus Energy Inc, Development Costs, By Country/Region, US$ mil, 2012-2016 39
Figure 32: Cenovus Energy Inc, Exploration Costs, By Country/Region, US$ mil, 2012-2016 39
Figure 33: Cenovus Energy Inc, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2012-2016 41
Figure 34: Cenovus Energy Inc, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2012-2016 43
Figure 35: Cenovus Energy Inc, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2012-2016 43
Figure 36: Cenovus Energy Inc, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2012-2016 45
Figure 37: Cenovus Energy Inc, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2012-2016 48
Figure 38: Cenovus Energy Inc, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2012-2016 48
Figure 39: Cenovus Energy Inc, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2012-2016 49
Figure 40: Cenovus Energy Inc, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2012-2016 49
Figure 41: Cenovus Energy Inc, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2012-2016 50
Figure 42: Cenovus Energy Inc, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2012-2016 50
Figure 43: Cenovus Energy Inc, Revenue and Expenses, US$ mil, 2012-2016 52
Figure 44: Cenovus Energy Inc, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2012-2016 54
Figure 45: Cenovus Energy Inc, Exploration Expenses, By Country/Region, US$ mil, 2012-2016 54
Figure 46: Cenovus Energy Inc, Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2012-2016 55
Figure 47: Cenovus Energy Inc, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2012-2016 55
Figure 48: Cenovus Energy Inc, Oil & Gas Revenue, By Country/Region, US$ mil, 2012-2016 56
Figure 49: Cenovus Energy Inc, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2012-2016 56
Figure 50: Cenovus Energy Inc, Production Costs, By Country/Region, US$ mil, 2012-2016 57
Figure 51: Cenovus Energy Inc, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2012-2016 57
Figure 52: Cenovus Energy Inc, Oil and Gas Revenue and Expenses, US$/boe, 2012-2016 59
Figure 53: Cenovus Energy Inc, Income Tax/(Benefit) per boe, By Country/Region, US$/boe, 2012-2016 60
Figure 54: Cenovus Energy Inc, Lifting Cost per boe, By Country/Region, US$/boe, 2012-2016 60
Figure 55: Cenovus Energy Inc, Annual Net Income per boe, By Country/Region, US$/boe, 2012-2016 61
Figure 56: Cenovus Energy Inc, Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2012-2016 61
Figure 57: Cenovus Energy Inc, Total DD&A per boe, By Country/Region, US$/boe, 2012-2016 62
Figure 58: Cenovus Energy Inc, Total Revenue per boe, By Country/Region, US$/boe, 2012-2016 62
Figure 59: Cenovus Energy Inc, Oil and Gas Performance Metrics, 2012-2016 64
Figure 60: Cenovus Energy Inc, Land Holdings (Developed and Undeveloped Acreage), Acres, 2012-2016 65
Figure 61: Cenovus Energy Inc, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2012-2016 66
Figure 62: Cenovus Energy Inc, Total Net Undeveloped Acreage, By Country/Region, Acres, 2012-2016 66
Figure 63: Cenovus Energy Inc, Total Gross Developed Acreage, By Country/Region, Acres, 2012-2016 67
Figure 64: Cenovus Energy Inc, Total Net Developed Acreage, By Country/Region, Acres, 2012-2016 67
Figure 65: Cenovus Energy Inc, Producible Oil and Gas Wells, 2012-2016 69
Figure 66: Cenovus Energy Inc, Gross Productive Gas Wells, By Country/Region, Number, 2012-2016 70
Figure 67: Cenovus Energy Inc, Gross Productive Oil & Gas Wells, By Country/Region, Number, 2012-2016 70
Figure 68: Cenovus Energy Inc, Gross Productive Oil Wells, By Country/Region, Number, 2012-2016 71
Figure 69: Cenovus Energy Inc, Net/Gross Oil & Gas Ratio, By Country/Region, %, 2012-2016 71
Figure 70: Cenovus Energy Inc, Net Productive Gas Wells, By Country/Region, Number, 2012-2016 72
Figure 71: Cenovus Energy Inc, Net Productive Oil & Gas Wells, By Country/Region, Number, 2012-2016 72
Figure 72: Cenovus Energy Inc, Net Productive Oil Wells, By Country/Region, Number, 2012-2016 73
Figure 73: Cenovus Energy Inc, Exploratory and Developed Wells, 2012-2016 75


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