Concho Resources Inc. Oil & Gas Exploration and Production Operations and Cost Analysis - Q3, 2014

 Published On: Nov, 2014 |    No of Pages: 92 |  Published By: GlobalData | Format: PDF
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Summary

Concho Resources Inc. (Concho) is an oil and gas company. The company acquires, develops and explores oil and natural gas properties. It owns exploration assets in the Permian Basin region of Southeast New Mexico and West Texas, an onshore oil and natural gas basin in the US. Concho’s three operating areas include New Mexico Shelf, Delaware Basin, and Texas Permian. The company operates through its subsidiaries in the US. It has its presence in Midland, Artesia, Houston, and Santa Fe. Concho is headquartered in Midland, Texas, the US

Concho Resources 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 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
Concho Resources Inc., Valuation and Financial Data 9
Concho Resources Inc., Share Price Performance 9
Share Price Performance, Q3, 2013-Q3, 2014 9
Concho Resources Inc., Key Valuation Metrics 10
Key Valuation Metrics, Q3, 2013-Q3, 2014 10
Concho Resources Inc., 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
Concho Resources Inc., Quarterly E&P Costs Trends 13
Upstream Capital Expenditure, Q3, 2013-Q3, 2014 13
Concho Resources Inc., Quarterly Production Trends 14
Concho Resources Inc., 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
Concho Resources Inc., 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
Concho Resources Inc., 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
Concho Resources Inc., Valuation and Financial Data, 2009-2013 20
Concho Resources Inc., Share Price Performance, 2009-2013 20
Share Price Performance, 2009-2013 20
Key Valuation Metrics, 2009-2013 21
Concho Resources Inc., 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 23
Total Crude Oil and Natural Gas Reserve Changes, 2009-2013 25
Crude Oil/Liquids Production and Reserve 26
Crude Oil/Liquids Production and Reserve Trend, 2009-2013 26
Crude Oil Production and Reserves By Country/Region, 2009-2013 27
Crude Oil/Liquids Reserve Changes, 2009-2013 29
Natural Gas Production and Reserve 30
Natural Gas Production and Reserve Trend, 2009-2013 30
Natural Gas Production and Reserves, By Country/Region, 2009-2013 31
Natural Gas Reserve Changes, 2009-2013 33
Total Crude Oil and Natural Gas Reserves Life Index 34
Total Crude Oil and Natural Gas Reserves Life Index, 2009-2013 34
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2009-2013 35
Concho Resources Inc., E&P Costs Trends 37
Allocation of the Upstream Capital Expenditure 37
Upstream Capital Expenditure, 2009-2013 37
Acquisition Costs By Country/Region, 2009-2013 38
Exploration and Development Costs, By Country/Region, 2009-2013 40
Oil and Gas Cost Per boe, US$/boe 42
Oil and Gas Cost Per boe, US$/boe, 2009-2013 42
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2009-2013 44
Concho Resources Inc., 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
Concho Resources Inc., 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
Concho Resources Inc., 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
Concho Resources Inc. - Recent Developments 76
Nov 06, 2014: Concho Resources Announces Resignation of A. Wellford Tabor From Its Board Of Directors 76
Nov 05, 2014: Concho Resources Reports Third Quarter 2014 Results And Provides 2015 Outlook 76
Aug 07, 2014: Concho Resources Reports Second Quarter 2014 Financial and Operating Results 79
May 29, 2014: Alpha Crude Connector Announces Open Season 81
May 15, 2014: Concho Resources Expands Management Team 82
May 12, 2014: Concho Resources Reports First Quarter 2014 Financial and Operating Results; Announces Midstream Joint Venture in the Northern Delaware Basin 82
Mar 21, 2014: Concho Resources Appoints John Surma to Board of Directors and Names Jack Harper Executive Vice President 85
Feb 19, 2014: Concho Resources Reports Fourth Quarter 2013 and Year End Financial and Operating Results 86
Feb 06, 2014: Concho Resources Reports 2013 Proved Reserves and Production 87
Jan 03, 2014: Q4 2013 Concho Resources Inc Earnings Conference Call 89
Appendix 90
Methodology 90
Coverage 90
Secondary Research 90
Primary Research 90
Data Information Sources 91
Company Source 91
SEC/Other Regulatory Filings 91
Other Sources 91
Expert Panel Validation 91
Data Definition 91
Oil and Gas Reserves 91
Units of Measure 92
About GlobalData 92
Disclosure 92
Disclaimer 92

List of Tables
Table 1: Concho Resources Inc., Key Facts 8
Table 2: Concho Resources Inc., Share Price Performance, Q3, 2013-Q3, 2014 9
Table 3: Concho Resources Inc., Key Valuation Metrics, Q3, 2013-Q3, 2014 10
Table 4: Concho Resources Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q3, 2013-Q3, 2014 11
Table 5: Concho Resources Inc., Results of Oil & Gas Operations Per boe Growth Rates, %, Q3, 2013-Q3, 2014 12
Table 6: Concho Resources Inc., Upstream Capital Expenditure, Q3, 2013-Q3, 2014 13
Table 7: Concho Resources Inc., Total Crude Oil and Natural Gas, Production, Q3, 2013-Q3, 2014 14
Table 8: Concho Resources Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q3, 2013-Q3, 2014 15
Table 9: Concho Resources Inc., Total Crude Oil Production, mmbbl, Q3, 2013-Q3, 2014 16
Table 10: Concho Resources Inc., Crude Oil Production, By Country/Region, mmbbl, Q3, 2013-Q3, 2014 17
Table 11: Concho Resources Inc., Total Natural Gas Production, bcf, Q3, 2013-Q3, 2014 18
Table 12: Concho Resources Inc., Natural Gas Production, By Country/Region, bcf, Q3, 2013-Q3, 2014 19
Table 13: Concho Resources Inc., Share Price Performance, 2009-2013 20
Table 14: Concho Resources Inc., Key Valuation Metrics, 2009-2013 21
Table 15: Concho Resources Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2009-2013 22
Table 16: Concho Resources Inc., Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2009-2013 24
Table 17: Concho Resources Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2009-2013 25
Table 18: Concho Resources Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2009-2013 26
Table 19: Concho Resources Inc., Crude Oil Production and Reserves, By Country/Region, mmbbl, 2009-2013 28
Table 20: Concho Resources Inc., Crude Oil Reserve Changes, mmbbl, 2009-2013 29
Table 21: Concho Resources Inc., Natural Gas Production and Reserves Metrics, bcf, 2009-2013 30
Table 22: Concho Resources Inc., Natural Gas Production and Reserves, By Country/Region, bcf, 2009-2013 32
Table 23: Concho Resources Inc., Natural Gas Reserve Changes, bcf, 2009-2013 33
Table 24: Concho Resources Inc., Oil and Gas Reserves Life Index, Years, 2009-2013 34
Table 25: Concho Resources Inc., Oil and Gas Reserves Life Index, By Country/Region, Years, 2009-2013 36
Table 26: Concho Resources Inc., Upstream Capital Expenditure, US$ mil, 2009-2013 37
Table 27: Concho Resources Inc., Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2009-2013 39
Table 28: Concho Resources Inc., Exploration and Development Costs, By Country/Region, US$ mil, 2009-2013 41
Table 29: Concho Resources Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2009-2013 42
Table 30: Concho Resources Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2009-2013 46
Table 31: Concho Resources Inc., Oil and Gas Production Replacement Ratio, %, 2009-2013 47
Table 32: Concho Resources Inc., 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2009-2013 52
Table 33: Concho Resources Inc., Revenue and Expenses, US$ mil, 2009-2013 53
Table 34: Concho Resources Inc., Revenue and Expenses, By Country/Region, US$ mil, 2009-2013 58
Table 35: Concho Resources Inc., Oil and Gas Revenue and Expenses, US$/boe, 2009-2013 59
Table 36: Concho Resources Inc., Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2009-2013 63
Table 37: Concho Resources Inc., Oil and Gas Performance Metrics, 2009-2013 64
Table 38: Concho Resources Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2009-2013 65
Table 39: Concho Resources Inc., Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2009-2013 68
Table 40: Concho Resources Inc., Producible Oil and Gas Wells, 2009-2013 69
Table 41: Concho Resources Inc., Producible Oil and Gas Wells, By Country/Region, 2009-2013 73
Table 42: Concho Resources Inc., Exploratory and Developed Wells, 2009-2013 74
Table 43: Concho Resources Inc., Exploratory and Developed Wells, By Country/Region, 2009-2013 75

List of Figures
Figure 1: Concho Resources Inc., Share Price Performance, USD/Share, Q3, 2013-Q3, 2014 9
Figure 2: Concho Resources Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q3, 2013-Q3, 2014 10
Figure 3: Concho Resources Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q3, 2013-Q3, 2014 11
Figure 4: Concho Resources Inc., Upstream Capital Expenditure, US$ mil, Q3, 2013-Q3, 2014 13
Figure 5: Concho Resources Inc., Total Crude Oil and Natural Gas, Production, mmboe, Q3, 2013-Q3, 2014 14
Figure 6: Concho Resources Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q3, 2013-Q3, 2014 15
Figure 7: Concho Resources Inc., Total Crude Oil Production, mmbbl, Q3, 2013-Q3, 2014 16
Figure 8: Concho Resources Inc., Crude Oil Production, By Country/Region, mmbbl, Q3, 2013-Q3, 2014 17
Figure 9: Concho Resources Inc., Total Natural Gas Production, bcf, Q3, 2013-Q3, 2014 18
Figure 10: Concho Resources Inc., Natural Gas Production, By Country/Region, bcf, Q3, 2013-Q3, 2014 19
Figure 11: Concho Resources Inc., Share Price Performance, USD/Share, 2009-2013 20
Figure 12: Concho Resources Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2009-2013 21
Figure 13: Concho Resources Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2009-2013 22
Figure 14: Concho Resources Inc., Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2009-2013 23
Figure 15: Concho Resources Inc., Total Oil & Gas Production, By Country/Region, mmboe, 2009-2013 23
Figure 16: Concho Resources Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2013 25
Figure 17: Concho Resources Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2009-2013 26
Figure 18: Concho Resources Inc., Oil Reserves, End of Period, By Country/Region, mmbbl, 2009-2013 27
Figure 19: Concho Resources Inc., Oil Production, By Country/Region, mmbbl, 2009-2013 27
Figure 20: Concho Resources Inc., Crude Oil Reserve Changes, mmbbl, 2013 29
Figure 21: Concho Resources Inc., Natural Gas Production and Reserves Metrics, bcf, 2009-2013 30
Figure 22: Concho Resources Inc., Gas Reserves, End of Period, By Country/Region, bcf, 2009-2013 31
Figure 23: Concho Resources Inc., Gas Production, By Country/Region, bcf, 2009-2013 31
Figure 24: Concho Resources Inc., Natural Gas Reserve Changes, bcf, 2013 33
Figure 25: Concho Resources Inc., Oil and Gas Reserves Life Index, Years, 2009-2013 34
Figure 26: Concho Resources Inc., Gas Reserve Life Index, By Country/Region, Years, 2009-2013 35
Figure 27: Concho Resources Inc., Oil & Gas Reserve Life Index, By Country/Region, Years, 2009-2013 35
Figure 28: Concho Resources Inc., Oil Reserve Life Index, By Country/Region, Years, 2009-2013 36
Figure 29: Concho Resources Inc., Upstream Capital Expenditure, US$ mil, 2009-2013 37
Figure 30: Concho Resources Inc., Proved Acquisition Costs, By Country/Region, US$ mil, 2009-2013 38
Figure 31: Concho Resources Inc., Unproved Acquisition Costs, By Country/Region, US$ mil, 2009-2013 38
Figure 32: Concho Resources Inc., Development Costs, By Country/Region, US$ mil, 2009-2013 40
Figure 33: Concho Resources Inc., Exploration Costs, By Country/Region, US$ mil, 2009-2013 40
Figure 34: Concho Resources Inc., 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2009-2013 42
Figure 35: Concho Resources Inc., Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2009-2013 44
Figure 36: Concho Resources Inc., Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2009-2013 44
Figure 37: Concho Resources Inc., Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2009-2013 45
Figure 38: Concho Resources Inc., Proved Reserves Acquisition Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2009-2013 45
Figure 39: Concho Resources Inc., 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2009-2013 47
Figure 40: Concho Resources Inc., 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2009-2013 49
Figure 41: Concho Resources Inc., 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2009-2013 49
Figure 42: Concho Resources Inc., 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2009-2013 50
Figure 43: Concho Resources Inc., 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2009-2013 50
Figure 44: Concho Resources Inc., 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2009-2013 51
Figure 45: Concho Resources Inc., 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2009-2013 51
Figure 46: Concho Resources Inc., Revenue and Expenses, US$ mil, 2009-2013 53
Figure 47: Concho Resources Inc., Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 54
Figure 48: Concho Resources Inc., Exploration Expenses, By Country/Region, US$ mil, 2009-2013 54
Figure 49: Concho Resources Inc., Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 55
Figure 50: Concho Resources Inc., Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 55
Figure 51: Concho Resources Inc., Oil & Gas Revenue, By Country/Region, US$ mil, 2009-2013 56
Figure 52: Concho Resources Inc., Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 56
Figure 53: Concho Resources Inc., Production Costs, By Country/Region, US$ mil, 2009-2013 57
Figure 54: Concho Resources Inc., Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 57
Figure 55: Concho Resources Inc., Oil and Gas Revenue and Expenses, US$/boe, 2009-2013 59
Figure 56: Concho Resources Inc., Exploration Expenses per boe, By Country/Region, US$/boe, 2009-2013 60
Figure 57: Concho Resources Inc., Income Tax/(Benefit) per boe, By Country/Region, US$/boe, 2009-2013 60
Figure 58: Concho Resources Inc., Lifting Cost per boe, By Country/Region, US$/boe, 2009-2013 61
Figure 59: Concho Resources Inc., Annual Net Income per boe, By Country/Region, US$/boe, 2009-2013 61
Figure 60: Concho Resources Inc., Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2009-2013 62
Figure 61: Concho Resources Inc., Total DD&A per boe, By Country/Region, US$/boe, 2009-2013 62
Figure 62: Concho Resources Inc., Total Revenue per boe, By Country/Region, US$/boe, 2009-2013 63
Figure 63: Concho Resources Inc., Oil and Gas Performance Metrics, 2009-2013 64
Figure 64: Concho Resources Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2009-2013 65
Figure 65: Concho Resources Inc., Total Gross Undeveloped Acreage, By Country/Region, Acres, 2009-2013 66
Figure 66: Concho Resources Inc., Total Net Undeveloped Acreage, By Country/Region, Acres, 2009-2013 66
Figure 67: Concho Resources Inc., Total Gross Developed Acreage, By Country/Region, Acres, 2009-2013 67
Figure 68: Concho Resources Inc., Total Net Developed Acreage, By Country/Region, Acres, 2009-2013 67
Figure 69: Concho Resources Inc., Producible Oil and Gas Wells, 2009-2013 69
Figure 70: Concho Resources Inc., Gross Productive Gas Wells, By Country/Region, Number, 2009-2013 70
Figure 71: Concho Resources Inc., Gross Productive Oil & Gas Wells, By Country/Region, Number, 2009-2013 70
Figure 72: Concho Resources Inc., Gross Productive Oil Wells, By Country/Region, Number, 2009-2013 71
Figure 73: Concho Resources Inc., Net/Gross Oil & Gas Ratio, By Country/Region, %, 2009-2013 71
Figure 74: Concho Resources Inc., Net Productive Gas Wells, By Country/Region, Number, 2009-2013 72
Figure 75: Concho Resources Inc., Net Productive Oil & Gas Wells, By Country/Region, Number, 2009-2013 72
Figure 76: Concho Resources Inc., Net Productive Oil Wells, By Country/Region, Number, 2009-2013 73
Figure 77: Concho Resources Inc., Exploratory and Developed Wells, 2009-2013 74


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