Canadian Natural Resources Limited Oil & Gas Exploration and Production Operations and Cost Analysis - Q1, 2017

 Published On: Aug, 2017 |    No of Pages: 145 |  Published By: GlobalData | Format: PDF
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Summary

Canadian Natural Resources Limited 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 6
Company Snapshot 8
Key Information 8
Company Overview 8
Canadian Natural Resources Limited, Valuation and Financial Data 9
Canadian Natural Resources Limited, Share Price Performance 9
Share Price Performance, Q1, 2016-Q1, 2017 9
Canadian Natural Resources Limited, Key Valuation Metrics 10
Key Valuation Metrics, Q1, 2016-Q1, 2017 10
Canadian Natural Resources Limited, Quarterly Results of Oil & Gas Operations Per boe Produced 11
Results of Oil & Gas Operations Per boe Produced, Q1, 2016-Q1, 2017 11
Results of Oil & Gas Operations Per boe Growth Rates, Q1, 2016-Q1, 2017 12
Canadian Natural Resources Limited, Quarterly E&P Costs Trends 13
Upstream Capital Expenditure, Q1, 2016-Q1, 2017 13
Canadian Natural Resources Limited, Quarterly Production Trends 14
Canadian Natural Resources Limited, Total Oil and Gas Production 14
Total Crude Oil and Natural Gas Production Trend, Q1, 2016-Q1, 2017 14
Total Crude Oil & Natural Gas Production, By Country/Region, Q1, 2016-Q1, 2017 16
Canadian Natural Resources Limited, Crude Oil Production 17
Total Crude Oil Production Trend, Q1, 2016-Q1, 2017 17
Crude Oil Production, By Country/Region, Q1, 2016-Q1, 2017 18
Canadian Natural Resources Limited, Natural Gas Production 19
Total Natural Gas Production Trend, Q1, 2016-Q1, 2017 19
Natural Gas Production, By Country/Region, Q1, 2016-Q1, 2017 20
Canadian Natural Resources Limited, Valuation and Financial Data, 2012-2016 21
Canadian Natural Resources Limited, Share Price Performance, 2012-2016 21
Share Price Performance, 2012-2016 21
Key Valuation Metrics, 2012-2016 22
Canadian Natural Resources Limited, Production and Reserves Trends 23
Total Oil and Gas, Reserves and Production 23
Total Crude Oil and Natural Gas Production and Reserves Trend, 2012-2016 23
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2012-2016 25
Total Crude Oil and Natural Gas Reserve Changes, 2012-2016 27
Crude Oil/Liquids Production and Reserve 28
Crude Oil/Liquids Production and Reserve Trend, 2012-2016 28
Crude Oil Production and Reserves By Country/Region, 2012-2016 29
Crude Oil/Liquids Reserve Changes, 2012-2016 31
Natural Gas Production and Reserve 32
Natural Gas Production and Reserve Trend, 2012-2016 32
Natural Gas Production and Reserves, By Country/Region, 2012-2016 33
Natural Gas Reserve Changes, 2012-2016 35
Total Crude Oil and Natural Gas Reserves Life Index 36
Total Crude Oil and Natural Gas Reserves Life Index, 2012-2016 36
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2012-2016 37
Canadian Natural Resources Limited, E&P Costs Trends 40
Allocation of the Upstream Capital Expenditure 40
Upstream Capital Expenditure, 2012-2016 40
Acquisition Costs By Country/Region, 2012-2016 42
Exploration and Development Costs, By Country/Region, 2012-2016 44
Oil and Gas Cost Per boe, US$/boe 46
Oil and Gas Cost Per boe, US$/boe, 2012-2016 46
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2012-2016 48
Canadian Natural Resources Limited, Reserve Replacement Ratio 50
Oil and Gas Production Replacement Ratio 50
Oil and Gas Production Replacement Ratio, 2012-2016 50
Oil and Gas Production Replacement Ratio, By Country/Region, 2012-2016 53
Canadian Natural Resources Limited, Results of Oil & Gas Operations Trend 58
Oil and Gas Revenue and Expenses 58
Oil and Gas Revenue and Expenses, 2012-2016 58
Oil and Gas Revenue and Expenses, By Country/Region, 2012-2016 60
Oil and Gas Revenue and Expenses, Per boe 66
Oil and Gas Revenue and Expenses, By boe, 2012-2016 66
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2012-2016 67
Oil and Gas Performance Metrics 71
Canadian Natural Resources Limited, Land Holdings and Well Data 72
Developed and Undeveloped Acreage 72
Gross and Net Developed and Undeveloped Acreage, 2012-2016 72
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2012-2016 73
Well Statistics 76
Producible Oil and Gas Well, 2012-2016 76
Producible Oil and Gas Well, By Country/Region, 2012-2016 77
Exploration and Development Wells Drilled, 2012-2016 82
Exploration and Development Wells Drilled, By Country/Region, 2012-2016 84
Recent Developments 86
Canadian Natural Resources Limited - Recent Developments 86
Aug 03, 2017: Canadian Natural Resources Announces 2017 Second Quarter Results 86
Jul 21, 2017: CNRL and ATCO receive AUC permission to share records on Muskeg order 95
May 04, 2017: Canadian Natural Resources Announces 2017 First Quarter Results 95
Mar 02, 2017: Canadian Natural Resources Announces 2016 Fourth Quarter and Year End Results 103
Feb 14, 2017: CNRL Announces 2016 Year End Reserves 113
Feb 02, 2017: Canadian Natural Resources Provides Horizon Update 115
Dec 15, 2016: Canadian Natural Resources Announces 2017 Budget 115
Nov 23, 2016: Government Of Alberta: Oil Sands Emissions Cap Drives Innovation 119
Nov 03, 2016: Canadian Natural Resources Announces 2016 Third Quarter Results 120
Sep 29, 2016: AER Receives Canadian Natural Resources Application For Tailings Management Plan 127
Appendix 129
Methodology 129
Coverage 129
Secondary Research 129
Primary Research 130
Data Information Sources 130
Company Source 130
SEC/Other Regulatory Filings 130
Other Sources 130
Expert Panel Validation 130
Data Definition 131
Oil and Gas Reserves 131
Units of Measure 131
About GlobalData 132
Disclosure 132
Disclaimer 132

List of Tables
Table 1: Canadian Natural Resources Limited, Key Facts 7
Table 2: Canadian Natural Resources Limited, Share Price Performance, Q1, 2016-Q1, 2017 8
Table 3: Canadian Natural Resources Limited, Key Valuation Metrics, Q1, 2016-Q1, 2017 9
Table 4: Canadian Natural Resources Limited, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q1, 2016-Q1, 2017 10
Table 5: Canadian Natural Resources Limited, Results of Oil & Gas Operations Per boe Growth Rates, %, Q1, 2016-Q1, 2017 11
Table 6: Canadian Natural Resources Limited, Upstream Capital Expenditure, Q1, 2016-Q1, 2017 12
Table 7: Canadian Natural Resources Limited, Total Crude Oil and Natural Gas, Production, Q1, 2016-Q1, 2017 14
Table 8: Canadian Natural Resources Limited, Total Oil & Gas Production, By Country/Region, mmboe, Q1, 2016-Q1, 2017 15
Table 9: Canadian Natural Resources Limited, Total Crude Oil Production, mmbbl, Q1, 2016-Q1, 2017 16
Table 10: Canadian Natural Resources Limited, Crude Oil Production, By Country/Region, mmbbl, Q1, 2016-Q1, 2017 17
Table 11: Canadian Natural Resources Limited, Total Natural Gas Production, bcf, Q1, 2016-Q1, 2017 18
Table 12: Canadian Natural Resources Limited, Natural Gas Production, By Country/Region, bcf, Q1, 2016-Q1, 2017 19
Table 13: Canadian Natural Resources Limited, Share Price Performance, 2012-2016 20
Table 14: Canadian Natural Resources Limited, Key Valuation Metrics, 2012-2016 21
Table 15: Canadian Natural Resources Limited, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2012-2016 23
Table 16: Canadian Natural Resources Limited, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2012-2016 25
Table 17: Canadian Natural Resources Limited, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2012-2016 26
Table 18: Canadian Natural Resources Limited, Crude Oil Production and Reserves Metrics, mmbbl, 2012-2016 27
Table 19: Canadian Natural Resources Limited, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2012-2016 29
Table 20: Canadian Natural Resources Limited, Crude Oil Reserve Changes, mmbbl, 2012-2016 30
Table 21: Canadian Natural Resources Limited, Natural Gas Production and Reserves Metrics, bcf, 2012-2016 31
Table 22: Canadian Natural Resources Limited, Natural Gas Production and Reserves, By Country/Region, bcf, 2012-2016 33
Table 23: Canadian Natural Resources Limited, Natural Gas Reserve Changes, bcf, 2012-2016 34
Table 24: Canadian Natural Resources Limited, Oil and Gas Reserves Life Index, Years, 2012-2016 35
Table 25: Canadian Natural Resources Limited, Oil and Gas Reserves Life Index, By Country/Region, Years, 2012-2016 38
Table 26: Canadian Natural Resources Limited, Upstream Capital Expenditure, US$ mil, 2012-2016 40
Table 27: Canadian Natural Resources Limited, Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2012-2016 42
Table 28: Canadian Natural Resources Limited, Exploration and Development Costs, By Country/Region, US$ mil, 2012-2016 44
Table 29: Canadian Natural Resources Limited, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2012-2016 46
Table 30: Canadian Natural Resources Limited, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2012-2016 48
Table 31: Canadian Natural Resources Limited, Oil and Gas Production Replacement Ratio, %, 2012-2016 50
Table 32: Canadian Natural Resources Limited, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2012-2016 55
Table 33: Canadian Natural Resources Limited, Revenue and Expenses, US$ mil, 2012-2016 58
Table 34: Canadian Natural Resources Limited, Revenue and Expenses, By Country/Region, US$ mil, 2012-2016 63
Table 35: Canadian Natural Resources Limited, Oil and Gas Revenue and Expenses, US$/boe, 2012-2016 65
Table 36: Canadian Natural Resources Limited, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2012-2016 69
Table 37: Canadian Natural Resources Limited, Oil and Gas Performance Metrics, 2012-2016 70
Table 38: Canadian Natural Resources Limited, Land Holdings (Developed and Undeveloped Acreage), Acres, 2012-2016 71
Table 39: Canadian Natural Resources Limited, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2012-2016 74
Table 40: Canadian Natural Resources Limited, Producible Oil and Gas Wells, 2012-2016 75
Table 41: Canadian Natural Resources Limited, Producible Oil and Gas Wells, By Country/Region, 2012-2016 80
Table 42: Canadian Natural Resources Limited, Exploratory and Developed Wells, 2012-2016 82
Table 43: Canadian Natural Resources Limited, Exploratory and Developed Wells, By Country/Region, 2012-2016 83

List of Figures
Figure 1: Canadian Natural Resources Limited, Share Price Performance, CAD/Share, Q1, 2016-Q1, 2017 9
Figure 2: Canadian Natural Resources Limited, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q1, 2016-Q1, 2017 10
Figure 3: Canadian Natural Resources Limited, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q1, 2016-Q1, 2017 11
Figure 4: Canadian Natural Resources Limited, Upstream Capital Expenditure, US$ mil, Q1, 2016-Q1, 2017 13
Figure 5: Canadian Natural Resources Limited, Total Crude Oil and Natural Gas, Production, mmboe, Q1, 2016-Q1, 2017 14
Figure 6: Canadian Natural Resources Limited, Total Oil & Gas Production, By Country/Region, mmboe, Q1, 2016-Q1, 2017 16
Figure 7: Canadian Natural Resources Limited, Total Crude Oil Production, mmbbl, Q1, 2016-Q1, 2017 17
Figure 8: Canadian Natural Resources Limited, Crude Oil Production, By Country/Region, mmbbl, Q1, 2016-Q1, 2017 18
Figure 9: Canadian Natural Resources Limited, Total Natural Gas Production, bcf, Q1, 2016-Q1, 2017 19
Figure 10: Canadian Natural Resources Limited, Natural Gas Production, By Country/Region, bcf, Q1, 2016-Q1, 2017 20
Figure 11: Canadian Natural Resources Limited, Share Price Performance, CAD/Share, 2012-2016 21
Figure 12: Canadian Natural Resources Limited, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2012-2016 22
Figure 13: Canadian Natural Resources Limited, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2012-2016 23
Figure 14: Canadian Natural Resources Limited, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2012-2016 25
Figure 15: Canadian Natural Resources Limited, Total Oil & Gas Production, By Country/Region, mmboe, 2012-2016 25
Figure 16: Canadian Natural Resources Limited, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2016 27
Figure 17: Canadian Natural Resources Limited, Crude Oil Production and Reserves Metrics, mmbbl, 2012-2016 28
Figure 18: Canadian Natural Resources Limited, Oil Reserves, End of Period, By Country/Region, Mmbbl, 2012-2016 29
Figure 19: Canadian Natural Resources Limited, Oil Production, By Country/Region, mmbbl, 2012-2016 29
Figure 20: Canadian Natural Resources Limited, Crude Oil Reserve Changes, mmbbl, 2016 31
Figure 21: Canadian Natural Resources Limited, Natural Gas Production and Reserves Metrics, bcf, 2012-2016 32
Figure 22: Canadian Natural Resources Limited, Gas Reserves, End of Period, By Country/Region, bcf, 2012-2016 33
Figure 23: Canadian Natural Resources Limited, Gas Production, By Country/Region, bcf, 2012-2016 33
Figure 24: Canadian Natural Resources Limited, Natural Gas Reserve Changes, bcf, 2016 35
Figure 25: Canadian Natural Resources Limited, Oil and Gas Reserves Life Index, Years, 2012-2016 36
Figure 26: Canadian Natural Resources Limited, Gas Reserve Life Index, By Country/Region, Years, 2012-2016 37
Figure 27: Canadian Natural Resources Limited, Oil & Gas Reserve Life Index, By Country/Region, Years, 2012-2016 37
Figure 28: Canadian Natural Resources Limited, Oil Reserve Life Index, By Country/Region, Years, 2012-2016 38
Figure 29: Canadian Natural Resources Limited, Upstream Capital Expenditure, US$ mil, 2012-2016 40
Figure 30: Canadian Natural Resources Limited, Proved Acquisition Costs, By Country/Region, US$ mil, 2012-2016 42
Figure 31: Canadian Natural Resources Limited, Unproved Acquisition Costs, By Country/Region, US$ mil, 2012-2016 42
Figure 32: Canadian Natural Resources Limited, Development Costs, By Country/Region, US$ mil, 2012-2016 44
Figure 33: Canadian Natural Resources Limited, Exploration Costs, By Country/Region, US$ mil, 2012-2016 44
Figure 34: Canadian Natural Resources Limited, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2012-2016 46
Figure 35: Canadian Natural Resources Limited, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, $/boe, 2012-2016 48
Figure 36: Canadian Natural Resources Limited, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, $/Boe, 2012-2016 48
Figure 37: Canadian Natural Resources Limited, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, $/boe, 2012-2016 49
Figure 38: Canadian Natural Resources Limited, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2012-2016 50
Figure 39: Canadian Natural Resources Limited, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2012-2016 53
Figure 40: Canadian Natural Resources Limited, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2012-2016 53
Figure 41: Canadian Natural Resources Limited, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2012-2016 54
Figure 42: Canadian Natural Resources Limited, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2012-2016 54
Figure 43: Canadian Natural Resources Limited, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2012-2016 55
Figure 44: Canadian Natural Resources Limited, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2012-2016 55
Figure 45: Canadian Natural Resources Limited, Revenue and Expenses, US$ mil, 2012-2016 58
Figure 46: Canadian Natural Resources Limited, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2012-2016 60
Figure 47: Canadian Natural Resources Limited, Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2012-2016 60
Figure 48: Canadian Natural Resources Limited, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2012-2016 61
Figure 49: Canadian Natural Resources Limited, Oil & Gas Revenue, By Country/Region, US$ mil, 2012-2016 61
Figure 50: Canadian Natural Resources Limited, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2012-2016 62
Figure 51: Canadian Natural Resources Limited, Production Costs, By Country/Region, US$ mil, 2012-2016 62
Figure 52: Canadian Natural Resources Limited, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2012-2016 63
Figure 53: Canadian Natural Resources Limited, Oil and Gas Revenue and Expenses, US$/boe, 2012-2016 66
Figure 54: Canadian Natural Resources Limited, Income Tax/(Benefit) per boe, By Country/Region, $/boe, 2012-2016 67
Figure 55: Canadian Natural Resources Limited, Lifting Cost per boe, By Country/Region, $/boe, 2012-2016 67
Figure 56: Canadian Natural Resources Limited, Annual Net Income per boe, By Country/Region, $/boe, 2012-2016 68
Figure 57: Canadian Natural Resources Limited, Oil & Gas Revenue per boe, By Country/Region, $/boe, 2012-2016 68
Figure 58: Canadian Natural Resources Limited, Total DD&A per boe, By Country/Region, $/boe, 2012-2016 69
Figure 59: Canadian Natural Resources Limited, Total Revenue per boe, By Country/Region, $/boe, 2012-2016 69
Figure 60: Canadian Natural Resources Limited, Oil and Gas Performance Metrics, 2012-2016 71
Figure 61: Canadian Natural Resources Limited, Land Holdings (Developed and Undeveloped Acreage), Acres, 2012-2016 72
Figure 62: Canadian Natural Resources Limited, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2012-2016 73
Figure 63: Canadian Natural Resources Limited, Total Net Undeveloped Acreage, By Country/Region, Acres, 2012-2016 73
Figure 64: Canadian Natural Resources Limited, Total Gross Developed Acreage, By Country/Region, Acres, 2012-2016 74
Figure 65: Canadian Natural Resources Limited, Total Net Developed Acreage, By Country/Region, Acres, 2012-2016 74
Figure 66: Canadian Natural Resources Limited, Producible Oil and Gas Wells, 2012-2016 76
Figure 67: Canadian Natural Resources Limited, Gross Productive Gas Wells, By Country/Region, Number, 2012-2016 77
Figure 68: Canadian Natural Resources Limited, Gross Productive Oil & Gas Wells, By Country/Region, Number, 2012-2016 77
Figure 69: Canadian Natural Resources Limited, Gross Productive Oil Wells, By Country/Region, Number, 2012-2016 78
Figure 70: Canadian Natural Resources Limited, Net/Gross Oil & Gas Ratio, By Country/Region, %, 2012-2016 78
Figure 71: Canadian Natural Resources Limited, Net Productive Gas Wells, By Country/Region, Number, 2012-2016 79
Figure 72: Canadian Natural Resources Limited, Net Productive Oil & Gas Wells, By Country/Region, Number, 2012-2016 79
Figure 73: Canadian Natural Resources Limited, Net Productive Oil Wells, By Country/Region, Number, 2012-2016 80
Figure 74: Canadian Natural Resources Limited, Exploratory and Developed Wells, 2012-2016 82


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