Cenovus Energy Inc. Oil & Gas Exploration and Production Operations and Cost Analysis - Q4, 2015

 Published On: May, 2016 |    No of Pages: 106 |  Published By: GlobalData | Format: PDF
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Summary

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 5
List of Figures 6
Company Snapshot 8
Key Information 8
Company Overview 8
Cenovus Energy Inc., Valuation and Financial Data 9
Cenovus Energy Inc., Share Price Performance 9
Share Price Performance, Q4, 2014-Q4, 2015 9
Cenovus Energy Inc., Key Valuation Metrics 10
Key Valuation Metrics, Q4, 2014-Q4, 2015 10
Cenovus Energy Inc., Quarterly Results of Oil & Gas Operations Per boe Produced 11
Results of Oil & Gas Operations Per boe Produced, Q4, 2014-Q4, 2015 11
Results of Oil & Gas Operations Per boe Growth Rates, Q4, 2014-Q4, 2015 12
Cenovus Energy Inc., Quarterly E&P Costs Trends 13
Upstream Capital Expenditure, Q4, 2014-Q4, 2015 13
Cenovus Energy Inc., Quarterly Production Trends 14
Cenovus Energy Inc., Total Oil and Gas Production 14
Total Crude Oil and Natural Gas Production Trend, Q4, 2014-Q4, 2015 14
Total Crude Oil & Natural Gas Production, By Country/Region, Q4, 2014-Q4, 2015 15
Cenovus Energy Inc., Crude Oil Production 16
Total Crude Oil Production Trend, Q4, 2014-Q4, 2015 16
Crude Oil Production, By Country/Region, Q4, 2014-Q4, 2015 17
Cenovus Energy Inc., Natural Gas Production 18
Total Natural Gas Production Trend, Q4, 2014-Q4, 2015 18
Natural Gas Production, By Country/Region, Q4, 2014-Q4, 2015 19
Cenovus Energy Inc., Valuation and Financial Data, 2011-2015 20
Cenovus Energy Inc., Share Price Performance, 2011-2015 20
Share Price Performance, 2011-2015 20
Key Valuation Metrics, 2011-2015 21
Cenovus Energy Inc., Production and Reserves Trends 22
Total Oil and Gas, Reserves and Production 22
Total Crude Oil and Natural Gas Production and Reserves Trend, 2011-2015 22
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2011-2015 24
Total Crude Oil and Natural Gas Reserve Changes, 2011-2015 26
Crude Oil/Liquids Production and Reserve 27
Crude Oil/Liquids Production and Reserve Trend, 2011-2015 27
Crude Oil Production and Reserves By Country/Region, 2011-2015 28
Crude Oil/Liquids Reserve Changes, 2011-2015 30
Natural Gas Production and Reserve 31
Natural Gas Production and Reserve Trend, 2011-2015 31
Natural Gas Production and Reserves, By Country/Region, 2011-2015 32
Natural Gas Reserve Changes, 2011-2015 34
Total Crude Oil and Natural Gas Reserves Life Index 35
Total Crude Oil and Natural Gas Reserves Life Index, 2011-2015 35
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2011-2015 36
Cenovus Energy Inc., E&P Costs Trends 38
Allocation of the Upstream Capital Expenditure 38
Upstream Capital Expenditure, 2011-2015 38
Acquisition Costs By Country/Region, 2011-2015 39
Exploration and Development Costs, By Country/Region, 2011-2015 41
Oil and Gas Cost Per boe, US$/boe 43
Oil and Gas Cost Per boe, US$/boe, 2011-2015 43
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2011-2015 45
Cenovus Energy Inc., Reserve Replacement Ratio 47
Oil and Gas Production Replacement Ratio 47
Oil and Gas Production Replacement Ratio, 2011-2015 47
Oil and Gas Production Replacement Ratio, By Country/Region, 2011-2015 49
Cenovus Energy Inc., Results of Oil & Gas Operations Trend 53
Oil and Gas Revenue and Expenses 53
Oil and Gas Revenue and Expenses, 2011-2015 53
Oil and Gas Revenue and Expenses, By Country/Region, 2011-2015 54
Oil and Gas Revenue and Expenses, Per boe 59
Oil and Gas Revenue and Expenses, By boe, 2011-2015 59
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2011-2015 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, 2011-2015 65
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2011-2015 66
Well Statistics 69
Producible Oil and Gas Well, 2011-2015 69
Producible Oil and Gas Well, By Country/Region, 2011-2015 70
Exploration and Development Wells Drilled, 2011-2015 74
Recent Developments 75
Cenovus Energy Inc. - Recent Developments 75
Apr 27, 2016: Cenovus Reports Voting Results Of Election Of Directors 2016 75
Apr 27, 2016: Cenovus Finishes First Quarter With Strong Balance Sheet 75
Apr 27, 2016: Cenovus Finishes First Quarter With Strong Balance Sheet Company’s 2016 Cost-Reduction Initiatives On Target 81
Apr 12, 2016: Canada's Cenovus Energy Eliminates 250 Employees 86
Feb 16, 2016: FuelCell Energy Announces Carbon Capture Study With Cenovus Energy 86
Feb 11, 2016: Cenovus Finishes 2015 With Strong Balance Sheet; Additional Budget Reductions Planned To Preserve Financial Resilience 87
Jan 14, 2016: Evok Innovations Announces $100M Cleantech Fund for Energy Industry Challenges 95
Dec 10, 2015: Cenovus Announces 2016 Capital Budget 95
Oct 29, 2015: Expected 2015 Cost Savings Increase To $400 Million Third-Quarter Oil Sands Production Up 17% 96
Oct 27, 2015: Raise Production Announces Election Of Directors And Operations Update: October 27, 2015 102
Appendix 104
Methodology 104
Coverage 104
Secondary Research 104
Primary Research 104
Data Information Sources 105
Company Source 105
SEC/Other Regulatory Filings 105
Other Sources 105
Expert Panel Validation 105
Data Definition 105
Oil and Gas Reserves 105
Units of Measure 106
About GlobalData 106
Disclosure 106
Disclaimer 106

List of Tables
Table 1: Cenovus Energy Inc., Key Facts 8
Table 2: Cenovus Energy Inc., Share Price Performance, Q4, 2014-Q4, 2015 9
Table 3: Cenovus Energy Inc., Key Valuation Metrics, Q4, 2014-Q4, 2015 10
Table 4: Cenovus Energy Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2014-Q4, 2015 11
Table 5: Cenovus Energy Inc., Results of Oil & Gas Operations Per boe Growth Rates, %, Q4, 2014-Q4, 2015 12
Table 6: Cenovus Energy Inc., Upstream Capital Expenditure, Q4, 2014-Q4, 2015 13
Table 7: Cenovus Energy Inc., Total Crude Oil and Natural Gas, Production, Q4, 2014-Q4, 2015 14
Table 8: Cenovus Energy Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2014-Q4, 2015 15
Table 9: Cenovus Energy Inc., Total Crude Oil Production, mmbbl, Q4, 2014-Q4, 2015 16
Table 10: Cenovus Energy Inc., Crude Oil Production, By Country/Region, mmbbl, Q4, 2014-Q4, 2015 17
Table 11: Cenovus Energy Inc., Total Natural Gas Production, bcf, Q4, 2014-Q4, 2015 18
Table 12: Cenovus Energy Inc., Natural Gas Production, By Country/Region, bcf, Q4, 2014-Q4, 2015 19
Table 13: Cenovus Energy Inc., Share Price Performance, 2011-2015 20
Table 14: Cenovus Energy Inc., Key Valuation Metrics, 2011-2015 21
Table 15: Cenovus Energy Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 23
Table 16: Cenovus Energy Inc., Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2011-2015 25
Table 17: Cenovus Energy Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2011-2015 26
Table 18: Cenovus Energy Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 27
Table 19: Cenovus Energy Inc., Crude Oil Production and Reserves, By Country/Region, mmbbl, 2011-2015 29
Table 20: Cenovus Energy Inc., Crude Oil Reserve Changes, mmbbl, 2011-2015 30
Table 21: Cenovus Energy Inc., Natural Gas Production and Reserves Metrics, bcf, 2011-2015 31
Table 22: Cenovus Energy Inc., Natural Gas Production and Reserves, By Country/Region, bcf, 2011-2015 33
Table 23: Cenovus Energy Inc., Natural Gas Reserve Changes, bcf, 2011-2015 34
Table 24: Cenovus Energy Inc., Oil and Gas Reserves Life Index, Years, 2011-2015 35
Table 25: Cenovus Energy Inc., Oil and Gas Reserves Life Index, By Country/Region, Years, 2011-2015 37
Table 26: Cenovus Energy Inc., Upstream Capital Expenditure, US$ mil, 2011-2015 38
Table 27: Cenovus Energy Inc., Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 40
Table 28: Cenovus Energy Inc., Exploration and Development Costs, By Country/Region, US$ mil, 2011-2015 42
Table 29: Cenovus Energy Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 44
Table 30: Cenovus Energy Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2011-2015 46
Table 31: Cenovus Energy Inc., Oil and Gas Production Replacement Ratio, %, 2011-2015 47
Table 32: Cenovus Energy Inc., 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2011-2015 52
Table 33: Cenovus Energy Inc., Revenue and Expenses, US$ mil, 2011-2015 53
Table 34: Cenovus Energy Inc., Revenue and Expenses, By Country/Region, US$ mil, 2011-2015 58
Table 35: Cenovus Energy Inc., Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 59
Table 36: Cenovus Energy Inc., Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2011-2015 63
Table 37: Cenovus Energy Inc., Oil and Gas Performance Metrics, 2011-2015 64
Table 38: Cenovus Energy Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 65
Table 39: Cenovus Energy Inc., Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2011-2015 68
Table 40: Cenovus Energy Inc., Producible Oil and Gas Wells, 2011-2015 69
Table 41: Cenovus Energy Inc., Producible Oil and Gas Wells, By Country/Region, 2011-2015 73
Table 42: Cenovus Energy Inc., Exploratory and Developed Wells, 2011-2015 74

List of Figures
Figure 1: Cenovus Energy Inc., Share Price Performance, CAD/Share, Q4, 2014-Q4, 2015 9
Figure 2: Cenovus Energy Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q4, 2014-Q4, 2015 10
Figure 3: Cenovus Energy Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2014-Q4, 2015 11
Figure 4: Cenovus Energy Inc., Upstream Capital Expenditure, US$ mil, Q4, 2014-Q4, 2015 13
Figure 5: Cenovus Energy Inc., Total Crude Oil and Natural Gas, Production, mmboe, Q4, 2014-Q4, 2015 14
Figure 6: Cenovus Energy Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2014-Q4, 2015 15
Figure 7: Cenovus Energy Inc., Total Crude Oil Production, mmbbl, Q4, 2014-Q4, 2015 16
Figure 8: Cenovus Energy Inc., Crude Oil Production, By Country/Region, mmbbl, Q4, 2014-Q4, 2015 17
Figure 9: Cenovus Energy Inc., Total Natural Gas Production, bcf, Q4, 2014-Q4, 2015 18
Figure 10: Cenovus Energy Inc., Natural Gas Production, By Country/Region, bcf, Q4, 2014-Q4, 2015 19
Figure 11: Cenovus Energy Inc., Share Price Performance, CAD/Share, 2011-2015 20
Figure 12: Cenovus Energy Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2011-2015 21
Figure 13: Cenovus Energy Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 22
Figure 14: Cenovus Energy Inc., Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2011-2015 24
Figure 15: Cenovus Energy Inc., Total Oil & Gas Production, By Country/Region, mmboe, 2011-2015 24
Figure 16: Cenovus Energy Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2015 26
Figure 17: Cenovus Energy Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 27
Figure 18: Cenovus Energy Inc., Oil Reserves, End of Period, By Country/Region, mmbbl, 2011-2015 28
Figure 19: Cenovus Energy Inc., Oil Production, By Country/Region, mmbbl, 2011-2015 28
Figure 20: Cenovus Energy Inc., Crude Oil Reserve Changes, mmbbl, 2015 30
Figure 21: Cenovus Energy Inc., Natural Gas Production and Reserves Metrics, bcf, 2011-2015 31
Figure 22: Cenovus Energy Inc., Gas Reserves, End of Period, By Country/Region, bcf, 2011-2015 32
Figure 23: Cenovus Energy Inc., Gas Production, By Country/Region, bcf, 2011-2015 32
Figure 24: Cenovus Energy Inc., Natural Gas Reserve Changes, bcf, 2015 34
Figure 25: Cenovus Energy Inc., Oil and Gas Reserves Life Index, Years, 2011-2015 35
Figure 26: Cenovus Energy Inc., Gas Reserve Life Index, By Country/Region, Years, 2011-2015 36
Figure 27: Cenovus Energy Inc., Oil & Gas Reserve Life Index, By Country/Region, Years, 2011-2015 36
Figure 28: Cenovus Energy Inc., Oil Reserve Life Index, By Country/Region, Years, 2011-2015 37
Figure 29: Cenovus Energy Inc., Upstream Capital Expenditure, US$ mil, 2011-2015 38
Figure 30: Cenovus Energy Inc., Proved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 39
Figure 31: Cenovus Energy Inc., Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 39
Figure 32: Cenovus Energy Inc., Development Costs, By Country/Region, US$ mil, 2011-2015 41
Figure 33: Cenovus Energy Inc., Exploration Costs, By Country/Region, US$ mil, 2011-2015 41
Figure 34: Cenovus Energy Inc., 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 43
Figure 35: Cenovus Energy Inc., Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 45
Figure 36: Cenovus Energy Inc., Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 45
Figure 37: Cenovus Energy Inc., Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 46
Figure 38: Cenovus Energy Inc., 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2011-2015 47
Figure 39: Cenovus Energy Inc., 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2011-2015 49
Figure 40: Cenovus Energy Inc., 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2011-2015 49
Figure 41: Cenovus Energy Inc., 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2011-2015 50
Figure 42: Cenovus Energy Inc., 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2011-2015 50
Figure 43: Cenovus Energy Inc., 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2011-2015 51
Figure 44: Cenovus Energy Inc., 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2011-2015 51
Figure 45: Cenovus Energy Inc., Revenue and Expenses, US$ mil, 2011-2015 53
Figure 46: Cenovus Energy Inc., Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 54
Figure 47: Cenovus Energy Inc., Exploration Expenses, By Country/Region, US$ mil, 2011-2015 54
Figure 48: Cenovus Energy Inc., Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 55
Figure 49: Cenovus Energy Inc., Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 55
Figure 50: Cenovus Energy Inc., Oil & Gas Revenue, By Country/Region, US$ mil, 2011-2015 56
Figure 51: Cenovus Energy Inc., Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 56
Figure 52: Cenovus Energy Inc., Production Costs, By Country/Region, US$ mil, 2011-2015 57
Figure 53: Cenovus Energy Inc., Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 57
Figure 54: Cenovus Energy Inc., Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 59
Figure 55: Cenovus Energy Inc., Exploration Expenses per boe, By Country/Region, US$/boe, 2011-2015 60
Figure 56: Cenovus Energy Inc., Income Tax/(Benefit) per boe, By Country/Region, US$/boe, 2011-2015 60
Figure 57: Cenovus Energy Inc., Lifting Cost per boe, By Country/Region, US$/boe, 2011-2015 61
Figure 58: Cenovus Energy Inc., Annual Net Income per boe, By Country/Region, US$/boe, 2011-2015 61
Figure 59: Cenovus Energy Inc., Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2011-2015 62
Figure 60: Cenovus Energy Inc., Total DD&A per boe, By Country/Region, US$/boe, 2011-2015 62
Figure 61: Cenovus Energy Inc., Total Revenue per boe, By Country/Region, US$/boe, 2011-2015 63
Figure 62: Cenovus Energy Inc., Oil and Gas Performance Metrics, 2011-2015 64
Figure 63: Cenovus Energy Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 65
Figure 64: Cenovus Energy Inc., Total Gross Undeveloped Acreage, By Country/Region, Acres, 2011-2015 66
Figure 65: Cenovus Energy Inc., Total Net Undeveloped Acreage, By Country/Region, Acres, 2011-2015 66
Figure 66: Cenovus Energy Inc., Total Gross Developed Acreage, By Country/Region, Acres, 2011-2015 67
Figure 67: Cenovus Energy Inc., Total Net Developed Acreage, By Country/Region, Acres, 2011-2015 67
Figure 68: Cenovus Energy Inc., Producible Oil and Gas Wells, 2011-2015 69
Figure 69: Cenovus Energy Inc., Gross Productive Gas Wells, By Country/Region, Number, 2011-2015 70
Figure 70: Cenovus Energy Inc., Gross Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 70
Figure 71: Cenovus Energy Inc., Gross Productive Oil Wells, By Country/Region, Number, 2011-2015 71
Figure 72: Cenovus Energy Inc., Net/Gross Oil & Gas Ratio, By Country/Region, %, 2011-2015 71
Figure 73: Cenovus Energy Inc., Net Productive Gas Wells, By Country/Region, Number, 2011-2015 72
Figure 74: Cenovus Energy Inc., Net Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 72
Figure 75: Cenovus Energy Inc., Net Productive Oil Wells, By Country/Region, Number, 2011-2015 73
Figure 76: Cenovus Energy Inc., Exploratory and Developed Wells, 2011-2015 74


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