W&T Offshore, Inc. Oil & Gas Exploration and Production Operations and Cost Analysis - Q2, 2016

 Published On: Dec, 2016 |    No of Pages: 107 |  Published By: GlobalData | Format: PDF
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Summary

W&T Offshore, 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
W&T Offshore, Inc., Valuation and Financial Data 9
W&T Offshore, Inc., Share Price Performance 9
Share Price Performance, Q2, 2015-Q2, 2016 9
W&T Offshore, Inc., Key Valuation Metrics 10
Key Valuation Metrics, Q2, 2015-Q2, 2016 10
W&T Offshore, Inc., Quarterly Results of Oil & Gas Operations Per boe Produced 11
Results of Oil & Gas Operations Per boe Produced, Q2, 2015-Q2, 2016 11
Results of Oil & Gas Operations Per boe Growth Rates, Q2, 2015-Q2, 2016 12
W&T Offshore, Inc., Quarterly E&P Costs Trends 13
Upstream Capital Expenditure, Q2, 2015-Q2, 2016 13
W&T Offshore, Inc., Quarterly Production Trends 14
W&T Offshore, Inc., Total Oil and Gas Production 14
Total Crude Oil and Natural Gas Production Trend, Q2, 2015-Q2, 2016 14
Total Crude Oil & Natural Gas Production, By Country/Region, Q2, 2015-Q2, 2016 15
W&T Offshore, Inc., Crude Oil Production 16
Total Crude Oil Production Trend, Q2, 2015-Q2, 2016 16
Crude Oil Production, By Country/Region, Q2, 2015-Q2, 2016 17
W&T Offshore, Inc., Natural Gas Production 18
Total Natural Gas Production Trend, Q2, 2015-Q2, 2016 18
Natural Gas Production, By Country/Region, Q2, 2015-Q2, 2016 19
W&T Offshore, Inc., Valuation and Financial Data, 2011-2015 20
W&T Offshore, Inc., Share Price Performance, 2011-2015 20
Share Price Performance, 2011-2015 20
Key Valuation Metrics, 2011-2015 21
W&T Offshore, 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
W&T Offshore, 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
W&T Offshore, 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
W&T Offshore, 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
W&T Offshore, 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
Exploration and Development Wells Drilled, By Country/Region, 2011-2015 75
Recent Developments 76
W&T Offshore, Inc. - Recent Developments 76
Nov 02, 2016: W&T Offshore Announces Third Quarter 2016 Operational And Financial Results Along With Fourth Quarter And Full Year 2016 Production And Expense Guidance 76
Aug 04, 2016: W&T Offshore Announces Second Quarter 2016 Operations And Financial Results Along With Third Quarter And Full Year 2016 Production And Expense Guidance 81
May 04, 2016: W&T Offshore Announces First Quarter 2016 Financial Results, Operations Update And Second Quarter And Full Year 2016 Guidance 85
Mar 24, 2016: W&T Offshore Announces Decrease In Borrowing Base Under Revolving Bank Credit Facility 89
Mar 08, 2016: W&T Offshore Announces Fourth Quarter 2015 Financial Results, Year-End 2015 Proved Reserves, Operations Update And 2016 Guidance And Reduced Capital Plan 89
Feb 26, 2016: W&T Offshore Provides Business Update 94
Dec 15, 2015: W&T Offshore Announces New Deepwater Gulf Of Mexico Discovery At Ewing Banks 954 A-8 Well 94
Nov 04, 2015: W&T Offshore Announces Third Quarter 2015 Financial Results, Operations Update And 2015 Guidance 95
Aug 05, 2015: W&T Offshore Announces Second Quarter 2015 Financial Results, Operations Update And Third Quarter 2015 Guidance 100
Appendix 105
Methodology 105
Coverage 105
Secondary Research 105
Primary Research 105
Data Information Sources 106
Company Source 106
SEC/Other Regulatory Filings 106
Other Sources 106
Expert Panel Validation 106
Data Definition 106
Oil and Gas Reserves 106
Units of Measure 107
About GlobalData 107
Disclosure 107
Disclaimer 107

List of Tables
Table 1: W&T Offshore, Inc., Key Facts 8
Table 2: W&T Offshore, Inc., Share Price Performance, Q2, 2015-Q2, 2016 9
Table 3: W&T Offshore, Inc., Key Valuation Metrics, Q2, 2015-Q2, 2016 10
Table 4: W&T Offshore, Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q2, 2015-Q2, 2016 11
Table 5: W&T Offshore, Inc., Results of Oil & Gas Operations Per boe Growth Rates, %, Q2, 2015-Q2, 2016 12
Table 6: W&T Offshore, Inc., Upstream Capital Expenditure, Q2, 2015-Q2, 2016 13
Table 7: W&T Offshore, Inc., Total Crude Oil and Natural Gas, Production, Q2, 2015-Q2, 2016 14
Table 8: W&T Offshore, Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q2, 2015-Q2, 2016 15
Table 9: W&T Offshore, Inc., Total Crude Oil Production, mmbbl, Q2, 2015-Q2, 2016 16
Table 10: W&T Offshore, Inc., Crude Oil Production, By Country/Region, mmbbl, Q2, 2015-Q2, 2016 17
Table 11: W&T Offshore, Inc., Total Natural Gas Production, bcf, Q2, 2015-Q2, 2016 18
Table 12: W&T Offshore, Inc., Natural Gas Production, By Country/Region, bcf, Q2, 2015-Q2, 2016 19
Table 13: W&T Offshore, Inc., Share Price Performance, 2011-2015 20
Table 14: W&T Offshore, Inc., Key Valuation Metrics, 2011-2015 21
Table 15: W&T Offshore, Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 23
Table 16: W&T Offshore, Inc., Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2011-2015 25
Table 17: W&T Offshore, Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2011-2015 26
Table 18: W&T Offshore, Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 27
Table 19: W&T Offshore, Inc., Crude Oil Production and Reserves, By Country/Region, mmbbl, 2011-2015 29
Table 20: W&T Offshore, Inc., Crude Oil Reserve Changes, mmbbl, 2011-2015 30
Table 21: W&T Offshore, Inc., Natural Gas Production and Reserves Metrics, bcf, 2011-2015 31
Table 22: W&T Offshore, Inc., Natural Gas Production and Reserves, By Country/Region, bcf, 2011-2015 33
Table 23: W&T Offshore, Inc., Natural Gas Reserve Changes, bcf, 2011-2015 34
Table 24: W&T Offshore, Inc., Oil and Gas Reserves Life Index, Years, 2011-2015 35
Table 25: W&T Offshore, Inc., Oil and Gas Reserves Life Index, By Country/Region, Years, 2011-2015 37
Table 26: W&T Offshore, Inc., Upstream Capital Expenditure, US$ mil, 2011-2015 38
Table 27: W&T Offshore, Inc., Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 40
Table 28: W&T Offshore, Inc., Exploration and Development Costs, By Country/Region, US$ mil, 2011-2015 42
Table 29: W&T Offshore, Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 44
Table 30: W&T Offshore, Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2011-2015 46
Table 31: W&T Offshore, Inc., Oil and Gas Production Replacement Ratio, %, 2011-2015 48
Table 32: W&T Offshore, Inc., 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2011-2015 52
Table 33: W&T Offshore, Inc., Revenue and Expenses, US$ mil, 2011-2015 53
Table 34: W&T Offshore, Inc., Revenue and Expenses, By Country/Region, US$ mil, 2011-2015 58
Table 35: W&T Offshore, Inc., Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 59
Table 36: W&T Offshore, Inc., Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2011-2015 63
Table 37: W&T Offshore, Inc., Oil and Gas Performance Metrics, 2011-2015 64
Table 38: W&T Offshore, Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 65
Table 39: W&T Offshore, Inc., Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2011-2015 68
Table 40: W&T Offshore, Inc., Producible Oil and Gas Wells, 2011-2015 69
Table 41: W&T Offshore, Inc., Producible Oil and Gas Wells, By Country/Region, 2011-2015 73
Table 42: W&T Offshore, Inc., Exploratory and Developed Wells, 2011-2015 74
Table 43: W&T Offshore, Inc., Exploratory and Developed Wells, By Country/Region, 2011-2015 75

List of Figures
Figure 1: W&T Offshore, Inc., Share Price Performance, USD/Share, Q2, 2015-Q2, 2016 9
Figure 2: W&T Offshore, Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q2, 2015-Q2, 2016 10
Figure 3: W&T Offshore, Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q2, 2015-Q2, 2016 11
Figure 4: W&T Offshore, Inc., Upstream Capital Expenditure, US$ mil, Q2, 2015-Q2, 2016 13
Figure 5: W&T Offshore, Inc., Total Crude Oil and Natural Gas, Production, mmboe, Q2, 2015-Q2, 2016 14
Figure 6: W&T Offshore, Inc., Total Crude Oil Production, mmbbl, Q2, 2015-Q2, 2016 16
Figure 7: W&T Offshore, Inc., Total Natural Gas Production, bcf, Q2, 2015-Q2, 2016 18
Figure 8: W&T Offshore, Inc., Share Price Performance, USD/Share, 2011-2015 20
Figure 9: W&T Offshore, Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2011-2015 21
Figure 10: W&T Offshore, Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 22
Figure 11: W&T Offshore, Inc., Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2011-2015 24
Figure 12: W&T Offshore, Inc., Total Oil & Gas Production, By Country/Region, mmboe, 2011-2015 24
Figure 13: W&T Offshore, Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2015 26
Figure 14: W&T Offshore, Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 27
Figure 15: W&T Offshore, Inc., Oil Reserves, End of Period, By Country/Region, mmbbl, 2011-2015 28
Figure 16: W&T Offshore, Inc., Oil Production, By Country/Region, mmbbl, 2011-2015 28
Figure 17: W&T Offshore, Inc., Crude Oil Reserve Changes, mmbbl, 2015 30
Figure 18: W&T Offshore, Inc., Natural Gas Production and Reserves Metrics, bcf, 2011-2015 31
Figure 19: W&T Offshore, Inc., Gas Reserves, End of Period, By Country/Region, bcf, 2011-2015 32
Figure 20: W&T Offshore, Inc., Gas Production, By Country/Region, bcf, 2011-2015 32
Figure 21: W&T Offshore, Inc., Natural Gas Reserve Changes, bcf, 2015 34
Figure 22: W&T Offshore, Inc., Oil and Gas Reserves Life Index, Years, 2011-2015 35
Figure 23: W&T Offshore, Inc., Gas Reserve Life Index, By Country/Region, Years, 2011-2015 36
Figure 24: W&T Offshore, Inc., Oil & Gas Reserve Life Index, By Country/Region, Years, 2011-2015 36
Figure 25: W&T Offshore, Inc., Oil Reserve Life Index, By Country/Region, Years, 2011-2015 37
Figure 26: W&T Offshore, Inc., Upstream Capital Expenditure, US$ mil, 2011-2015 38
Figure 27: W&T Offshore, Inc., Proved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 39
Figure 28: W&T Offshore, Inc., Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 39
Figure 29: W&T Offshore, Inc., Development Costs, By Country/Region, US$ mil, 2011-2015 41
Figure 30: W&T Offshore, Inc., Exploration Costs, By Country/Region, US$ mil, 2011-2015 41
Figure 31: W&T Offshore, Inc., 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 43
Figure 32: W&T Offshore, Inc., Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 45
Figure 33: W&T Offshore, Inc., Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 45
Figure 34: W&T Offshore, Inc., Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 46
Figure 35: W&T Offshore, Inc., 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2011-2015 47
Figure 36: W&T Offshore, Inc., 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2011-2015 49
Figure 37: W&T Offshore, Inc., 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2011-2015 49
Figure 38: W&T Offshore, Inc., 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2011-2015 50
Figure 39: W&T Offshore, Inc., 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2011-2015 50
Figure 40: W&T Offshore, Inc., 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2011-2015 51
Figure 41: W&T Offshore, Inc., 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2011-2015 51
Figure 42: W&T Offshore, Inc., Revenue and Expenses, US$ mil, 2011-2015 53
Figure 43: W&T Offshore, Inc., Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 54
Figure 44: W&T Offshore, Inc., Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 54
igure 45: W&T Offshore, Inc., Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 55
Figure 46: W&T Offshore, Inc., Oil & Gas Revenue, By Country/Region, US$ mil, 2011-2015 55
Figure 47: W&T Offshore, Inc., Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 56
Figure 48: W&T Offshore, Inc., Production Costs, By Country/Region, US$ mil, 2011-2015 56
Figure 49: W&T Offshore, Inc., Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 57
Figure 50: W&T Offshore, Inc., Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 59
Figure 51: W&T Offshore, Inc., Income Tax/(Benefit) per boe, By Country/Region, US$/boe, 2011-2015 60
Figure 52: W&T Offshore, Inc., Lifting Cost per boe, By Country/Region, US$/boe, 2011-2015 60
Figure 53: W&T Offshore, Inc., Annual Net Income per boe, By Country/Region, US$/boe, 2011-2015 61
Figure 54: W&T Offshore, Inc., Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2011-2015 61
Figure 55: W&T Offshore, Inc., Total DD&A per boe, By Country/Region, US$/boe, 2011-2015 62
Figure 56: W&T Offshore, Inc., Total Revenue per boe, By Country/Region, US$/boe, 2011-2015 62
Figure 57: W&T Offshore, Inc., Oil and Gas Performance Metrics, 2011-2015 64
Figure 58: W&T Offshore, Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 65
Figure 59: W&T Offshore, Inc., Total Gross Undeveloped Acreage, By Country/Region, Acres, 2011-2015 66
Figure 60: W&T Offshore, Inc., Total Net Undeveloped Acreage, By Country/Region, Acres, 2011-2015 66
Figure 61: W&T Offshore, Inc., Total Gross Developed Acreage, By Country/Region, Acres, 2011-2015 67
Figure 62: W&T Offshore, Inc., Total Net Developed Acreage, By Country/Region, Acres, 2011-2015 67
Figure 63: W&T Offshore, Inc., Producible Oil and Gas Wells, 2011-2015 69
Figure 64: W&T Offshore, Inc., Gross Productive Gas Wells, By Country/Region, Number, 2011-2015 70
Figure 65: W&T Offshore, Inc., Gross Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 70
Figure 66: W&T Offshore, Inc., Gross Productive Oil Wells, By Country/Region, Number, 2011-2015 71
Figure 67: W&T Offshore, Inc., Net/Gross Oil & Gas Ratio, By Country/Region, %, 2011-2015 71
Figure 68: W&T Offshore, Inc., Net Productive Gas Wells, By Country/Region, Number, 2011-2015 72
Figure 69: W&T Offshore, Inc., Net Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 72
Figure 70: W&T Offshore, Inc., Net Productive Oil Wells, By Country/Region, Number, 2011-2015 73
Figure 71: W&T Offshore, Inc., Exploratory and Developed Wells, 2011-2015 74


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