Legacy Reserves LP Oil & Gas Exploration and Production Operations and Cost Analysis - Q4, 2014

 Published On: May, 2015 |    No of Pages: 84 |  Published By: GlobalData | Format: PDF
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Summary

Legacy Reserves LP 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
Legacy Reserves LP, Valuation and Financial Data 9
Legacy Reserves LP, Share Price Performance 9
Share Price Performance, Q4, 2013-Q4, 2014 9
Legacy Reserves LP, Key Valuation Metrics 10
Key Valuation Metrics, Q4, 2013-Q4, 2014 10
Legacy Reserves LP, 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
Legacy Reserves LP, Quarterly E&P Costs Trends 13
Upstream Capital Expenditure, Q4, 2013-Q4, 2014 13
Legacy Reserves LP, Quarterly Production Trends 14
Legacy Reserves LP, 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
Legacy Reserves LP, 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
Legacy Reserves LP, 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
Legacy Reserves LP, Valuation and Financial Data, 2010-2014 20
Legacy Reserves LP, Share Price Performance, 2010-2014 20
Share Price Performance, 2010-2014 20
Key Valuation Metrics, 2010-2014 21
Legacy Reserves LP, 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
Legacy Reserves LP, 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$/boe 42
Oil and Gas Cost Per boe, US$/boe, 2010-2014 42
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2010-2014 44
Legacy Reserves LP, Reserve Replacement Ratio 46
Oil and Gas Production Replacement Ratio 46
Oil and Gas Production Replacement Ratio, 2010-2014 46
Oil and Gas Production Replacement Ratio, By Country/Region, 2010-2014 48
Legacy Reserves LP, Results of Oil & Gas Operations Trend 51
Oil and Gas Revenue and Expenses 51
Oil and Gas Revenue and Expenses, 2010-2014 51
Oil and Gas Revenue and Expenses, By Country/Region, 2010-2014 52
Oil and Gas Revenue and Expenses, Per boe 57
Oil and Gas Revenue and Expenses, By boe, 2010-2014 57
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2010-2014 58
Oil and Gas Performance Metrics 62
Legacy Reserves LP, Land Holdings and Well Data 63
Developed and Undeveloped Acreage 63
Gross and Net Developed and Undeveloped Acreage, 2010-2014 63
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2010-2014 64
Well Statistics 67
Producible Oil and Gas Well, 2010-2014 67
Producible Oil and Gas Well, By Country/Region, 2010-2014 68
Exploration and Development Wells Drilled, 2010-2014 72
Exploration and Development Wells Drilled, By Country/Region, 2010-2014 73
Recent Developments 74
Legacy Reserves LP - Recent Developments 74
Feb 25, 2015: Legacy Reserves LP Announces Fourth Quarter And Annual 2014 Results, 2015 Guidance Aand New Chief Operating Officer 74
Feb 19, 2015: Legacy Reserves Declares Preferred Distributions: Update Feb 19, 2015 76
Feb 04, 2015: Legacy Reserves Announces CEO Transition 77
Jan 23, 2015: Legacy Reserves Announces Cash Distributions, 2015 Capital Budget 77
Dec 22, 2014: Legacy Reserves Declares Preferred Distributions: Update Dec 22, 2014 78
Dec 03, 2014: Legacy Reserves Announces Changes In Leadership Roles 78
Nov 20, 2014: Legacy Reserves LP Declares Preferred Distributions 79
Oct 29, 2014: Legacy Reserves Announces Third Quarter 2014 Results 79
Oct 20, 2014: Legacy Reserves Announces Cash Distributions 81
Sep 19, 2014: Legacy Reserves LP Declares Preferred Distributions 81
Appendix 82
Methodology 82
Coverage 82
Secondary Research 82
Primary Research 82
Data Information Sources 83
Company Source 83
SEC/Other Regulatory Filings 83
Other Sources 83
Expert Panel Validation 83
Data Definition 83
Oil and Gas Reserves 83
Units of Measure 84
About GlobalData 84
Disclosure 84
Disclaimer 84

List of Tables
Table 1: Legacy Reserves LP, Key Facts 8
Table 2: Legacy Reserves LP, Share Price Performance, Q4, 2013-Q4, 2014 9
Table 3: Legacy Reserves LP, Key Valuation Metrics, Q4, 2013-Q4, 2014 10
Table 4: Legacy Reserves LP, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2013-Q4, 2014 11
Table 5: Legacy Reserves LP, Results of Oil & Gas Operations Per boe Growth Rates, %, Q4, 2013-Q4, 2014 12
Table 6: Legacy Reserves LP, Upstream Capital Expenditure, Q4, 2013-Q4, 2014 13
Table 7: Legacy Reserves LP, Total Crude Oil and Natural Gas, Production, Q4, 2013-Q4, 2014 14
Table 8: Legacy Reserves LP, Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2013-Q4, 2014 15
Table 9: Legacy Reserves LP, Total Crude Oil Production, mmbbl, Q4, 2013-Q4, 2014 16
Table 10: Legacy Reserves LP, Crude Oil Production, By Country/Region, mmbbl, Q4, 2013-Q4, 2014 17
Table 11: Legacy Reserves LP, Total Natural Gas Production, bcf, Q4, 2013-Q4, 2014 18
Table 12: Legacy Reserves LP, Natural Gas Production, By Country/Region, bcf, Q4, 2013-Q4, 2014 19
Table 13: Legacy Reserves LP, Share Price Performance, 2010-2014 20
Table 14: Legacy Reserves LP, Key Valuation Metrics, 2010-2014 21
Table 15: Legacy Reserves LP, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2010-2014 23
Table 16: Legacy Reserves LP, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2010-2014 25
Table 17: Legacy Reserves LP, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2010-2014 26
Table 18: Legacy Reserves LP, Crude Oil Production and Reserves Metrics, mmbbl, 2010-2014 27
Table 19: Legacy Reserves LP, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2010-2014 29
Table 20: Legacy Reserves LP, Crude Oil Reserve Changes, mmbbl, 2010-2014 30
Table 21: Legacy Reserves LP, Natural Gas Production and Reserves Metrics, bcf, 2010-2014 31
Table 22: Legacy Reserves LP, Natural Gas Production and Reserves, By Country/Region, bcf, 2010-2014 33
Table 23: Legacy Reserves LP, Natural Gas Reserve Changes, bcf, 2010-2014 34
Table 24: Legacy Reserves LP, Oil and Gas Reserves Life Index, Years, 2010-2014 35
Table 25: Legacy Reserves LP, Oil and Gas Reserves Life Index, By Country/Region, Years, 2010-2014 37
Table 26: Legacy Reserves LP, Upstream Capital Expenditure, US$ mil, 2010-2014 38
Table 27: Legacy Reserves LP, Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2010-2014 40
Table 28: Legacy Reserves LP, Exploration and Development Costs, By Country/Region, US$ mil, 2010-2014 41
Table 29: Legacy Reserves LP, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2010-2014 43
Table 30: Legacy Reserves LP, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2010-2014 45
Table 31: Legacy Reserves LP, Oil and Gas Production Replacement Ratio, %, 2010-2014 46
Table 32: Legacy Reserves LP, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2010-2014 50
Table 33: Legacy Reserves LP, Revenue and Expenses, US$ mil, 2010-2014 51
Table 34: Legacy Reserves LP, Revenue and Expenses, By Country/Region, US$ mil, 2010-2014 56
Table 35: Legacy Reserves LP, Oil and Gas Revenue and Expenses, US$/boe, 2010-2014 57
Table 36: Legacy Reserves LP, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2010-2014 61
Table 37: Legacy Reserves LP, Oil and Gas Performance Metrics, 2010-2014 62
Table 38: Legacy Reserves LP, Land Holdings (Developed and Undeveloped Acreage), Acres, 2010-2014 63
Table 39: Legacy Reserves LP, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2010-2014 66
Table 40: Legacy Reserves LP, Producible Oil and Gas Wells, 2010-2014 67
Table 41: Legacy Reserves LP, Producible Oil and Gas Wells, By Country/Region, 2010-2014 71
Table 42: Legacy Reserves LP, Exploratory and Developed Wells, 2010-2014 72
Table 43: Legacy Reserves LP, Exploratory and Developed Wells, By Country/Region, 2010-2014 73

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


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