Devon Energy Corporation Oil & Gas Exploration and Production Operations and Cost Analysis - Q3, 2014

 Published On: Nov, 2014 |    No of Pages: 87 |  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. In addition, the company provides midstream operations including marketing, transportation, processing and storage of gas, crude oil and NGLs. Devon Energy also owns natural gas pipelines, plants and treatment facilities in North America. Devon Energy is headquartered in Oklahoma City, Oklahoma, the US. As a part of its growth strategy, the company focuses on exploring for undiscovered oil and natural gas reserves. It intends to capitalize on strong growth in the Permian Basin and Eagle Ford

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 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
Devon Energy Corporation, Valuation and Financial Data 9
Devon Energy Corporation, Share Price Performance 9
Share Price Performance, Q3, 2013-Q3, 2014 9
Devon Energy Corporation, Key Valuation Metrics 10
Key Valuation Metrics, Q3, 2013-Q3, 2014 10
Devon Energy Corporation, Quarterly Results of Oil & Gas Operations Per boe Produced 11
Results of Oil & Gas Operations Per boe Produced, Q3, 2013-Q3, 2014 11
Results of Oil & Gas Operations Per boe Growth Rates, Q3, 2013-Q3, 2014 12
Devon Energy Corporation, Quarterly E&P Costs Trends 13
Upstream Capital Expenditure, Q3, 2013-Q3, 2014 13
Devon Energy Corporation, Quarterly Production Trends 14
Devon Energy Corporation, Total Oil and Gas Production 14
Total Crude Oil and Natural Gas Production Trend, Q3, 2013-Q3, 2014 14
Total Crude Oil & Natural Gas Production, By Country/Region, Q3, 2013-Q3, 2014 15
Devon Energy Corporation, Crude Oil Production 16
Total Crude Oil Production Trend, Q3, 2013-Q3, 2014 16
Crude Oil Production, By Country/Region, Q3, 2013-Q3, 2014 17
Devon Energy Corporation, Natural Gas Production 18
Total Natural Gas Production Trend, Q3, 2013-Q3, 2014 18
Natural Gas Production, By Country/Region, Q3, 2013-Q3, 2014 19
Devon Energy Corporation, Valuation and Financial Data, 2009-2013 20
Devon Energy Corporation, Share Price Performance, 2009-2013 20
Share Price Performance, 2009-2013 20
Key Valuation Metrics, 2009-2013 21
Devon Energy Corporation, Production and Reserves Trends 22
Total Oil and Gas, Reserves and Production 22
Total Crude Oil and Natural Gas Production and Reserves Trend, 2009-2013 22
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2009-2013 24
Total Crude Oil and Natural Gas Reserve Changes, 2009-2013 26
Crude Oil/Liquids Production and Reserve 27
Crude Oil/Liquids Production and Reserve Trend, 2009-2013 27
Crude Oil Production and Reserves By Country/Region, 2009-2013 28
Crude Oil/Liquids Reserve Changes, 2009-2013 30
Natural Gas Production and Reserve 31
Natural Gas Production and Reserve Trend, 2009-2013 31
Natural Gas Production and Reserves, By Country/Region, 2009-2013 32
Natural Gas Reserve Changes, 2009-2013 34
Total Crude Oil and Natural Gas Reserves Life Index 35
Total Crude Oil and Natural Gas Reserves Life Index, 2009-2013 35
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2009-2013 36
Devon Energy Corporation, E&P Costs Trends 38
Allocation of the Upstream Capital Expenditure 38
Upstream Capital Expenditure, 2009-2013 38
Acquisition Costs By Country/Region, 2009-2013 39
Exploration and Development Costs, By Country/Region, 2009-2013 41
Oil and Gas Cost Per boe, US$/boe 43
Oil and Gas Cost Per boe, US$/boe, 2009-2013 43
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2009-2013 45
Devon Energy Corporation, Reserve Replacement Ratio 47
Oil and Gas Production Replacement Ratio 47
Oil and Gas Production Replacement Ratio, 2009-2013 47
Oil and Gas Production Replacement Ratio, By Country/Region, 2009-2013 49
Devon Energy Corporation, Results of Oil & Gas Operations Trend 53
Oil and Gas Revenue and Expenses 53
Oil and Gas Revenue and Expenses, 2009-2013 53
Oil and Gas Revenue and Expenses, By Country/Region, 2009-2013 54
Oil and Gas Revenue and Expenses, Per boe 59
Oil and Gas Revenue and Expenses, By boe, 2009-2013 59
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2009-2013 60
Oil and Gas Performance Metrics 64
Devon Energy Corporation, Land Holdings and Well Data 65
Developed and Undeveloped Acreage 65
Gross and Net Developed and Undeveloped Acreage, 2009-2013 65
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2009-2013 66
Well Statistics 69
Producible Oil and Gas Well, 2009-2013 69
Producible Oil and Gas Well, By Country/Region, 2009-2013 70
Exploration and Development Wells Drilled, 2009-2013 74
Exploration and Development Wells Drilled, By Country/Region, 2009-2013 75
Recent Developments 76
Devon Energy Corporation - Recent Developments 76
Nov 04, 2014: Devon Energy Reports Third-Quarter 2014 Results 76
Sep 18, 2014: Pryme Energy: Third Well Added To Capitola Oil Project Drilling Program Operations Update 77
Sep 10, 2014: Devon Energy Announces Fourth Quarter Cash Dividend for Common Stockholders 77
Aug 06, 2014: Devon Energy Reports Second-Quarter 2014 Results 78
Jul 26, 2014: Devon Energy Hits 1 Tcf Milestone in Barnett Shale 81
Jun 04, 2014: Devon Energy Announces Third Quarter Cash Dividend for Common Stockholders 82
Jun 02, 2014: Devon Energy launches open season for Eagle Ford pipeline 82
May 12, 2014: GE Announces New Technology Partnership with Devon Energy at Global Research Oil & Gas Technology Center 82
May 12, 2014: GE, Devon Sign New Technology Collaboration Agreement to Drive Unconventional Resources Innovations 84
Appendix 85
Methodology 85
Coverage 85
Secondary Research 85
Primary Research 85
Data Information Sources 86
Company Source 86
SEC/Other Regulatory Filings 86
Other Sources 86
Expert Panel Validation 86
Data Definition 86
Oil and Gas Reserves 86
Units of Measure 87
About GlobalData 87
Disclosure 87
Disclaimer 87

List of Tables
Table 1: Devon Energy Corporation, Key Facts 8
Table 2: Devon Energy Corporation, Share Price Performance, Q3, 2013-Q3, 2014 9
Table 3: Devon Energy Corporation, Key Valuation Metrics, Q3, 2013-Q3, 2014 10
Table 4: Devon Energy Corporation, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q3, 2013-Q3, 2014 11
Table 5: Devon Energy Corporation, Results of Oil & Gas Operations Per boe Growth Rates, %, Q3, 2013-Q3, 2014 12
Table 6: Devon Energy Corporation, Upstream Capital Expenditure, Q3, 2013-Q3, 2014 13
Table 7: Devon Energy Corporation, Total Crude Oil and Natural Gas, Production, Q3, 2013-Q3, 2014 14
Table 8: Devon Energy Corporation, Total Oil & Gas Production, By Country/Region, mmboe, Q3, 2013-Q3, 2014 15
Table 9: Devon Energy Corporation, Total Crude Oil Production, mmbbl, Q3, 2013-Q3, 2014 16
Table 10: Devon Energy Corporation, Crude Oil Production, By Country/Region, mmbbl, Q3, 2013-Q3, 2014 17
Table 11: Devon Energy Corporation, Total Natural Gas Production, bcf, Q3, 2013-Q3, 2014 18
Table 12: Devon Energy Corporation, Natural Gas Production, By Country/Region, bcf, Q3, 2013-Q3, 2014 19
Table 13: Devon Energy Corporation, Share Price Performance, 2009-2013 20
Table 14: Devon Energy Corporation, Key Valuation Metrics, 2009-2013 21
Table 15: Devon Energy Corporation, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2009-2013 23
Table 16: Devon Energy Corporation, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2009-2013 25
Table 17: Devon Energy Corporation, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2009-2013 26
Table 18: Devon Energy Corporation, Crude Oil Production and Reserves Metrics, mmbbl, 2009-2013 27
Table 19: Devon Energy Corporation, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2009-2013 29
Table 20: Devon Energy Corporation, Crude Oil Reserve Changes, mmbbl, 2009-2013 30
Table 21: Devon Energy Corporation, Natural Gas Production and Reserves Metrics, bcf, 2009-2013 31
Table 22: Devon Energy Corporation, Natural Gas Production and Reserves, By Country/Region, bcf, 2009-2013 33
Table 23: Devon Energy Corporation, Natural Gas Reserve Changes, bcf, 2009-2013 34
Table 24: Devon Energy Corporation, Oil and Gas Reserves Life Index, Years, 2009-2013 35
Table 25: Devon Energy Corporation, Oil and Gas Reserves Life Index, By Country/Region, Years, 2009-2013 37
Table 26: Devon Energy Corporation, Upstream Capital Expenditure, US$ mil, 2009-2013 38
Table 27: Devon Energy Corporation, Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2009-2013 40
Table 28: Devon Energy Corporation, Exploration and Development Costs, By Country/Region, US$ mil, 2009-2013 42
Table 29: Devon Energy Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2009-2013 43
Table 30: Devon Energy Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2009-2013 46
Table 31: Devon Energy Corporation, Oil and Gas Production Replacement Ratio, %, 2009-2013 47
Table 32: Devon Energy Corporation, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2009-2013 52
Table 33: Devon Energy Corporation, Revenue and Expenses, US$ mil, 2009-2013 53
Table 34: Devon Energy Corporation, Revenue and Expenses, By Country/Region, US$ mil, 2009-2013 57
Table 35: Devon Energy Corporation, Oil and Gas Revenue and Expenses, US$/boe, 2009-2013 59
Table 36: Devon Energy Corporation, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2009-2013 63
Table 37: Devon Energy Corporation, Oil and Gas Performance Metrics, 2009-2013 64
Table 38: Devon Energy Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2009-2013 65
Table 39: Devon Energy Corporation, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2009-2013 68
Table 40: Devon Energy Corporation, Producible Oil and Gas Wells, 2009-2013 69
Table 41: Devon Energy Corporation, Producible Oil and Gas Wells, By Country/Region, 2009-2013 73
Table 42: Devon Energy Corporation, Exploratory and Developed Wells, 2009-2013 74
Table 43: Devon Energy Corporation, Exploratory and Developed Wells, By Country/Region, 2009-2013 75

List of Figures
Figure 1: Devon Energy Corporation, Share Price Performance, USD/Share, Q3, 2013-Q3, 2014 9
Figure 2: Devon Energy Corporation, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q3, 2013-Q3, 2014 10
Figure 3: Devon Energy Corporation, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q3, 2013-Q3, 2014 11
Figure 4: Devon Energy Corporation, Upstream Capital Expenditure, US$ mil, Q3, 2013-Q3, 2014 13
Figure 5: Devon Energy Corporation, Total Crude Oil and Natural Gas, Production, mmboe, Q3, 2013-Q3, 2014 14
Figure 6: Devon Energy Corporation, Total Oil & Gas Production, By Country/Region, mmboe, Q3, 2013-Q3, 2014 15
Figure 7: Devon Energy Corporation, Total Crude Oil Production, mmbbl, Q3, 2013-Q3, 2014 16
Figure 8: Devon Energy Corporation, Crude Oil Production, By Country/Region, mmbbl, Q3, 2013-Q3, 2014 17
Figure 9: Devon Energy Corporation, Total Natural Gas Production, bcf, Q3, 2013-Q3, 2014 18
Figure 10: Devon Energy Corporation, Natural Gas Production, By Country/Region, bcf, Q3, 2013-Q3, 2014 19
Figure 11: Devon Energy Corporation, Share Price Performance, USD/Share, 2009-2013 20
Figure 12: Devon Energy Corporation, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2009-2013 21
Figure 13: Devon Energy Corporation, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2009-2013 22
Figure 14: Devon Energy Corporation, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2009-2013 24
Figure 15: Devon Energy Corporation, Total Oil & Gas Production, By Country/Region, mmboe, 2009-2013 24
Figure 16: Devon Energy Corporation, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2013 26
Figure 17: Devon Energy Corporation, Crude Oil Production and Reserves Metrics, mmbbl, 2009-2013 27
Figure 18: Devon Energy Corporation, Oil Reserves, End of Period, By Country/Region, mmbbl, 2009-2013 28
Figure 19: Devon Energy Corporation, Oil Production, By Country/Region, mmbbl, 2009-2013 28
Figure 20: Devon Energy Corporation, Crude Oil Reserve Changes, mmbbl, 2013 30
Figure 21: Devon Energy Corporation, Natural Gas Production and Reserves Metrics, bcf, 2009-2013 31
Figure 22: Devon Energy Corporation, Gas Reserves, End of Period, By Country/Region, bcf, 2009-2013 32
Figure 23: Devon Energy Corporation, Gas Production, By Country/Region, bcf, 2009-2013 32
Figure 24: Devon Energy Corporation, Natural Gas Reserve Changes, bcf, 2013 34
Figure 25: Devon Energy Corporation, Oil and Gas Reserves Life Index, Years, 2009-2013 35
Figure 26: Devon Energy Corporation, Gas Reserve Life Index, By Country/Region, Years, 2009-2013 36
Figure 27: Devon Energy Corporation, Oil & Gas Reserve Life Index, By Country/Region, Years, 2009-2013 36
Figure 28: Devon Energy Corporation, Oil Reserve Life Index, By Country/Region, Years, 2009-2013 37
Figure 29: Devon Energy Corporation, Upstream Capital Expenditure, US$ mil, 2009-2013 38
Figure 30: Devon Energy Corporation, Proved Acquisition Costs, By Country/Region, US$ mil, 2009-2013 39
Figure 31: Devon Energy Corporation, Unproved Acquisition Costs, By Country/Region, US$ mil, 2009-2013 39
Figure 32: Devon Energy Corporation, Development Costs, By Country/Region, US$ mil, 2009-2013 41
Figure 33: Devon Energy Corporation, Exploration Costs, By Country/Region, US$ mil, 2009-2013 41
Figure 34: Devon Energy Corporation, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2009-2013 43
Figure 35: Devon Energy Corporation, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2009-2013 45
Figure 36: Devon Energy Corporation, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2009-2013 45
Figure 37: Devon Energy Corporation, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2009-2013 46
Figure 38: Devon Energy Corporation, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2009-2013 47
Figure 39: Devon Energy Corporation, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2009-2013 49
Figure 40: Devon Energy Corporation, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2009-2013 49
Figure 41: Devon Energy Corporation, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2009-2013 50
Figure 42: Devon Energy Corporation, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2009-2013 50
Figure 43: Devon Energy Corporation, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2009-2013 51
Figure 44: Devon Energy Corporation, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2009-2013 51
Figure 45: Devon Energy Corporation, Revenue and Expenses, US$ mil, 2009-2013 53
Figure 46: Devon Energy Corporation, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 54
Figure 47: Devon Energy Corporation, Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 54
Figure 48: Devon Energy Corporation, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 55
Figure 49: Devon Energy Corporation, Oil & Gas Revenue, By Country/Region, US$ mil, 2009-2013 55
Figure 50: Devon Energy Corporation, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 56
Figure 51: Devon Energy Corporation, Production Costs, By Country/Region, US$ mil, 2009-2013 56
Figure 52: Devon Energy Corporation, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 57
Figure 53: Devon Energy Corporation, Oil and Gas Revenue and Expenses, US$/boe, 2009-2013 59
Figure 54: Devon Energy Corporation, Income Tax/(Benefit) per boe, By Country/Region, US$/boe, 2009-2013 60
Figure 55: Devon Energy Corporation, Lifting Cost per boe, By Country/Region, US$/boe, 2009-2013 60
Figure 56: Devon Energy Corporation, Annual Net Income per boe, By Country/Region, US$/boe, 2009-2013 61
Figure 57: Devon Energy Corporation, Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2009-2013 61
Figure 58: Devon Energy Corporation, Total DD&A per boe, By Country/Region, US$/boe, 2009-2013 62
Figure 59: Devon Energy Corporation, Total Revenue per boe, By Country/Region, US$/boe, 2009-2013 62
Figure 60: Devon Energy Corporation, Oil and Gas Performance Metrics, 2009-2013 64
Figure 61: Devon Energy Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2009-2013 65
Figure 62: Devon Energy Corporation, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2009-2013 66
Figure 63: Devon Energy Corporation, Total Net Undeveloped Acreage, By Country/Region, Acres, 2009-2013 66
Figure 64: Devon Energy Corporation, Total Gross Developed Acreage, By Country/Region, Acres, 2009-2013 67
Figure 65: Devon Energy Corporation, Total Net Developed Acreage, By Country/Region, Acres, 2009-2013 67
Figure 66: Devon Energy Corporation, Producible Oil and Gas Wells, 2009-2013 69
Figure 67: Devon Energy Corporation, Gross Productive Gas Wells, By Country/Region, Number, 2009-2013 70
Figure 68: Devon Energy Corporation, Gross Productive Oil & Gas Wells, By Country/Region, Number, 2009-2013 70
Figure 69: Devon Energy Corporation, Gross Productive Oil Wells, By Country/Region, Number, 2009-2013 71
Figure 70: Devon Energy Corporation, Net/Gross Oil & Gas Ratio, By Country/Region, %, 2009-2013 71
Figure 71: Devon Energy Corporation, Net Productive Gas Wells, By Country/Region, Number, 2009-2013 72
Figure 72: Devon Energy Corporation, Net Productive Oil & Gas Wells, By Country/Region, Number, 2009-2013 72
Figure 73: Devon Energy Corporation, Net Productive Oil Wells, By Country/Region, Number, 2009-2013 73
Figure 74: Devon Energy Corporation, Exploratory and Developed Wells, 2009-2013 74


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