Devon Energy Corporation Oil & Gas Exploration and Production Operations and Cost Analysis - Q4, 2016

 Published On: Jun, 2017 |    No of Pages: 94 |  Published By: GlobalData | Format: PDF
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Summary

Devon Energy Corporation (Devon Energy) is an independent energy company. The company carries out exploration, development, and production of oil, natural gas and natural gas liquids (NGLs). It has its operations in onshore areas of the US and Canada. Devon Energy's US assets are located in Barnett Shale, Eagle Ford, Delaware Basin, the Rockies, and the STACK Counties. Its Canadian assets are located in heavy oil area. The company also provides mid-stream services such as gathering, transmission, processing, fractionation and marketing to producers of natural gas, NGLs, crude oil and condensate. Devon Energy is headquartered in Oklahoma City, Oklahoma, the US.

Devon Energy Corporation 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
Devon Energy Corporation, Valuation and Financial Data 8
Devon Energy Corporation, Share Price Performance 8
Share Price Performance, Q4, 2015-Q4, 2016 8
Devon Energy Corporation, Key Valuation Metrics 9
Key Valuation Metrics, Q4, 2015-Q4, 2016 9
Devon Energy Corporation, 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
Devon Energy Corporation, Quarterly E&P Costs Trends 12
Upstream Capital Expenditure, Q4, 2015-Q4, 2016 12
Devon Energy Corporation, Quarterly Production Trends 13
Devon Energy Corporation, 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
Devon Energy Corporation, 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
Devon Energy Corporation, 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
Devon Energy Corporation, Valuation and Financial Data, 2012-2016 19
Devon Energy Corporation, Share Price Performance, 2012-2016 19
Share Price Performance, 2012-2016 19
Key Valuation Metrics, 2012-2016 20
Devon Energy Corporation, 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
Devon Energy Corporation, 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 40
Oil and Gas Cost Per boe, US$/boe 42
Oil and Gas Cost Per boe, US$/boe, 2012-2016 42
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2012-2016 44
Devon Energy Corporation, Reserve Replacement Ratio 46
Oil and Gas Production Replacement Ratio 46
Oil and Gas Production Replacement Ratio, 2012-2016 46
Oil and Gas Production Replacement Ratio, By Country/Region, 2012-2016 49
Devon Energy Corporation, Results of Oil & Gas Operations Trend 53
Oil and Gas Revenue and Expenses 53
Oil and Gas Revenue and Expenses, 2012-2016 53
Oil and Gas Revenue and Expenses, By Country/Region, 2012-2016 55
Oil and Gas Revenue and Expenses, Per boe 60
Oil and Gas Revenue and Expenses, By boe, 2012-2016 60
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2012-2016 61
Oil and Gas Performance Metrics 65
Devon Energy Corporation, Land Holdings and Well Data 66
Developed and Undeveloped Acreage 66
Gross and Net Developed and Undeveloped Acreage, 2012-2016 66
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2012-2016 67
Well Statistics 70
Producible Oil and Gas Well, 2012-2016 70
Producible Oil and Gas Well, By Country/Region, 2012-2016 71
Exploration and Development Wells Drilled, 2012-2016 76
Recent Developments 78
Devon Energy Corporation - Recent Developments 78
May 02, 2017: Devon Energy Reports First-Quarter Results 78
Apr 19, 2017: Devon Energy names new executive vice president and CFO 81
Mar 28, 2017: Brookside Energy Adds To STACK Well Count 81
Mar 17, 2017: Cheniere Energy Announces Key Commercial Agreements Signed And Binding Open Season Launched On Midship Pipeline Project 83
Mar 08, 2017: Brookside Energy Announces Next Non-Operated STACK Well Funded 83
Feb 14, 2017: Devon Energy Reports Fourth-Quarter And Full-Year 2016 Results; Provides Updated Capital And Production Outlook 84
Jan 10, 2017: U.S. Department Of The Interior Cancels Remaining Oil And Gas Leases In Montana's Badger 87
Dec 19, 2016: Devon Energy Announces Pricing Of Tender Offers 88
Dec 06, 2016: Devon Energy Announces Resource Expansion In The Delaware Basin With Successful Leonard Shale Spacing Test 88
Nov 16, 2016: Secretary Jewell, Senator Tester, Blackfeet Nation And Devon Energy Announce Cancellation Of Oil & Gas Leases In Montana's Lewis And Clark National Forest 89
Appendix 91
Methodology 91
Coverage 91
Secondary Research 91
Primary Research 92
Data Information Sources 92
Company Source 92
SEC/Other Regulatory Filings 92
Other Sources 92
Expert Panel Validation 92
Data Definition 93
Oil and Gas Reserves 93
Units of Measure 93
About GlobalData 94
Disclosure 94
Disclaimer 94

List of Tables
Table 1: Devon Energy Corporation, Key Facts 7
Table 2: Devon Energy Corporation, Share Price Performance, Q4, 2015-Q4, 2016 8
Table 3: Devon Energy Corporation, Key Valuation Metrics, Q4, 2015-Q4, 2016 9
Table 4: Devon Energy Corporation, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2015-Q4, 2016 10
Table 5: Devon Energy Corporation, Results of Oil & Gas Operations Per boe Growth Rates, %, Q4, 2015-Q4, 2016 11
Table 6: Devon Energy Corporation, Upstream Capital Expenditure, Q4, 2015-Q4, 2016 12
Table 7: Devon Energy Corporation, Total Crude Oil and Natural Gas, Production, Q4, 2015-Q4, 2016 13
Table 8: Devon Energy Corporation, Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2015-Q4, 2016 14
Table 9: Devon Energy Corporation, Total Crude Oil Production, mmbbl, Q4, 2015-Q4, 2016 15
Table 10: Devon Energy Corporation, Crude Oil Production, By Country/Region, mmbbl, Q4, 2015-Q4, 2016 16
Table 11: Devon Energy Corporation, Total Natural Gas Production, bcf, Q4, 2015-Q4, 2016 17
Table 12: Devon Energy Corporation, Natural Gas Production, By Country/Region, bcf, Q4, 2015-Q4, 2016 18
Table 13: Devon Energy Corporation, Share Price Performance, 2012-2016 19
Table 14: Devon Energy Corporation, Key Valuation Metrics, 2012-2016 20
Table 15: Devon Energy Corporation, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2012-2016 22
Table 16: Devon Energy Corporation, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2012-2016 24
Table 17: Devon Energy Corporation, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2012-2016 25
Table 18: Devon Energy Corporation, Crude Oil Production and Reserves Metrics, mmbbl, 2012-2016 26
Table 19: Devon Energy Corporation, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2012-2016 28
Table 20: Devon Energy Corporation, Crude Oil Reserve Changes, mmbbl, 2012-2016 29
Table 21: Devon Energy Corporation, Natural Gas Production and Reserves Metrics, bcf, 2012-2016 30
Table 22: Devon Energy Corporation, Natural Gas Production and Reserves, By Country/Region, bcf, 2012-2016 32
Table 23: Devon Energy Corporation, Natural Gas Reserve Changes, bcf, 2012-2016 33
Table 24: Devon Energy Corporation, Oil and Gas Reserves Life Index, Years, 2012-2016 34
Table 25: Devon Energy Corporation, Oil and Gas Reserves Life Index, By Country/Region, Years, 2012-2016 36
Table 26: Devon Energy Corporation, Upstream Capital Expenditure, US$ mil, 2012-2016 37
Table 27: Devon Energy Corporation, Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2012-2016 39
Table 28: Devon Energy Corporation, Exploration and Development Costs, By Country/Region, US$ mil, 2012-2016 41
Table 29: Devon Energy Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2012-2016 43
Table 30: Devon Energy Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2012-2016 45
Table 31: Devon Energy Corporation, Oil and Gas Production Replacement Ratio, %, 2012-2016 47
Table 32: Devon Energy Corporation, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2012-2016 52
Table 33: Devon Energy Corporation, Revenue and Expenses, US$ mil, 2012-2016 54
Table 34: Devon Energy Corporation, Revenue and Expenses, By Country/Region, US$ mil, 2012-2016 59
Table 35: Devon Energy Corporation, Oil and Gas Revenue and Expenses, US$/boe, 2012-2016 60
Table 36: Devon Energy Corporation, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2012-2016 64
Table 37: Devon Energy Corporation, Oil and Gas Performance Metrics, 2012-2016 65
Table 38: Devon Energy Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2012-2016 66
Table 39: Devon Energy Corporation, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2012-2016 69
Table 40: Devon Energy Corporation, Producible Oil and Gas Wells, 2012-2016 70
Table 41: Devon Energy Corporation, Producible Oil and Gas Wells, By Country/Region, 2012-2016 75
Table 42: Devon Energy Corporation, Exploratory and Developed Wells, 2012-2016 77

List of Figures
Figure 1: Devon Energy Corporation, Share Price Performance, USD/Share, Q4, 2015-Q4, 2016 8
Figure 2: Devon Energy Corporation, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q4, 2015-Q4, 2016 9
Figure 3: Devon Energy Corporation, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2015-Q4, 2016 10
Figure 4: Devon Energy Corporation, Upstream Capital Expenditure, US$ mil, Q4, 2015-Q4, 2016 12
Figure 5: Devon Energy Corporation, Total Crude Oil and Natural Gas, Production, mmboe, Q4, 2015-Q4, 2016 13
Figure 6: Devon Energy Corporation, Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2015-Q4, 2016 14
Figure 7: Devon Energy Corporation, Total Crude Oil Production, mmbbl, Q4, 2015-Q4, 2016 15
Figure 8: Devon Energy Corporation, Crude Oil Production, By Country/Region, mmbbl, Q4, 2015-Q4, 2016 16
Figure 9: Devon Energy Corporation, Total Natural Gas Production, bcf, Q4, 2015-Q4, 2016 17
Figure 10: Devon Energy Corporation, Natural Gas Production, By Country/Region, bcf, Q4, 2015-Q4, 2016 18
Figure 11: Devon Energy Corporation, Share Price Performance, USD/Share, 2012-2016 19
Figure 12: Devon Energy Corporation, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2012-2016 20
Figure 13: Devon Energy Corporation, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2012-2016 21
Figure 14: Devon Energy Corporation, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2012-2016 23
Figure 15: Devon Energy Corporation, Total Oil & Gas Production, By Country/Region, mmboe, 2012-2016 23
Figure 16: Devon Energy Corporation, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2016 25
Figure 17: Devon Energy Corporation, Crude Oil Production and Reserves Metrics, mmbbl, 2012-2016 26
Figure 18: Devon Energy Corporation, Oil Reserves, End of Period, By Country/Region, mmbbl, 2012-2016 27
Figure 19: Devon Energy Corporation, Oil Production, By Country/Region, mmbbl, 2012-2016 27
Figure 20: Devon Energy Corporation, Crude Oil Reserve Changes, mmbbl, 2016 29
Figure 21: Devon Energy Corporation, Natural Gas Production and Reserves Metrics, bcf, 2012-2016 30
Figure 22: Devon Energy Corporation, Gas Reserves, End of Period, By Country/Region, bcf, 2012-2016 31
Figure 23: Devon Energy Corporation, Gas Production, By Country/Region, bcf, 2012-2016 31
Figure 24: Devon Energy Corporation, Natural Gas Reserve Changes, bcf, 2016 33
Figure 25: Devon Energy Corporation, Oil and Gas Reserves Life Index, Years, 2012-2016 34
Figure 26: Devon Energy Corporation, Gas Reserve Life Index, By Country/Region, Years, 2012-2016 35
Figure 27: Devon Energy Corporation, Oil & Gas Reserve Life Index, By Country/Region, Years, 2012-2016 35
Figure 28: Devon Energy Corporation, Oil Reserve Life Index, By Country/Region, Years, 2012-2016 36
Figure 29: Devon Energy Corporation, Upstream Capital Expenditure, US$ mil, 2012-2016 37
Figure 30: Devon Energy Corporation, Proved Acquisition Costs, By Country/Region, US$ mil, 2012-2016 38
Figure 31: Devon Energy Corporation, Unproved Acquisition Costs, By Country/Region, US$ mil, 2012-2016 38
Figure 32: Devon Energy Corporation, Development Costs, By Country/Region, US$ mil, 2012-2016 40
Figure 33: Devon Energy Corporation, Exploration Costs, By Country/Region, US$ mil, 2012-2016 40
Figure 34: Devon Energy Corporation, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2012-2016 42
Figure 35: Devon Energy Corporation, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2012-2016 44
Figure 36: Devon Energy Corporation, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2012-2016 44
Figure 37: Devon Energy Corporation, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2012-2016 45
Figure 38: Devon Energy Corporation, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2012-2016 46
Figure 39: Devon Energy Corporation, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2012-2016 49
Figure 40: Devon Energy Corporation, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2012-2016 49
Figure 41: Devon Energy Corporation, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2012-2016 50
Figure 42: Devon Energy Corporation, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2012-2016 50
Figure 43: Devon Energy Corporation, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2012-2016 51
Figure 44: Devon Energy Corporation, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2012-2016 51
Figure 45: Devon Energy Corporation, Revenue and Expenses, US$ mil, 2012-2016 53
Figure 46: Devon Energy Corporation, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2012-2016 55
Figure 47: Devon Energy Corporation, Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2012-2016 55
Figure 48: Devon Energy Corporation, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2012-2016 56
Figure 49: Devon Energy Corporation, Oil & Gas Revenue, By Country/Region, US$ mil, 2012-2016 56
Figure 50: Devon Energy Corporation, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2012-2016 57
Figure 51: Devon Energy Corporation, Production Costs, By Country/Region, US$ mil, 2012-2016 57
Figure 52: Devon Energy Corporation, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2012-2016 58
Figure 53: Devon Energy Corporation, Oil and Gas Revenue and Expenses, US$/boe, 2012-2016 60
Figure 54: Devon Energy Corporation, Income Tax/(Benefit) per boe, By Country/Region, US$/boe, 2012-2016 61
Figure 55: Devon Energy Corporation, Lifting Cost per boe, By Country/Region, US$/boe, 2012-2016 61
Figure 56: Devon Energy Corporation, Annual Net Income per boe, By Country/Region, US$/boe, 2012-2016 62
Figure 57: Devon Energy Corporation, Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2012-2016 62
Figure 58: Devon Energy Corporation, Total DD&A per boe, By Country/Region, US$/boe, 2012-2016 63
Figure 59: Devon Energy Corporation, Total Revenue per boe, By Country/Region, US$/boe, 2012-2016 63
Figure 60: Devon Energy Corporation, Oil and Gas Performance Metrics, 2012-2016 65
Figure 61: Devon Energy Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2012-2016 66
Figure 62: Devon Energy Corporation, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2012-2016 67
Figure 63: Devon Energy Corporation, Total Net Undeveloped Acreage, By Country/Region, Acres, 2012-2016 67
Figure 64: Devon Energy Corporation, Total Gross Developed Acreage, By Country/Region, Acres, 2012-2016 68
Figure 65: Devon Energy Corporation, Total Net Developed Acreage, By Country/Region, Acres, 2012-2016 68
Figure 66: Devon Energy Corporation, Producible Oil and Gas Wells, 2012-2016 70
Figure 67: Devon Energy Corporation, Gross Productive Gas Wells, By Country/Region, Number, 2012-2016 71
Figure 68: Devon Energy Corporation, Gross Productive Oil & Gas Wells, By Country/Region, Number, 2012-2016 71
Figure 69: Devon Energy Corporation, Gross Productive Oil Wells, By Country/Region, Number, 2012-2016 72
Figure 70: Devon Energy Corporation, Net/Gross Oil & Gas Ratio, By Country/Region, %, 2012-2016 72
Figure 71: Devon Energy Corporation, Net Productive Gas Wells, By Country/Region, Number, 2012-2016 73
Figure 72: Devon Energy Corporation, Net Productive Oil & Gas Wells, By Country/Region, Number, 2012-2016 73
Figure 73: Devon Energy Corporation, Net Productive Oil Wells, By Country/Region, Number, 2012-2016 74
Figure 74: Devon Energy Corporation, Exploratory and Developed Wells, 2012-2016 76


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