Canadian Natural Resources Limited Oil & Gas Exploration and Production Operations and Cost Analysis - Q1, 2016

GlobalData
113 Pages - GLDATA57257
$250.00

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.

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Table of Contents
Table of Contents 2
List of Tables 4
List of Figures 5
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, 2015-Q1, 2016 9
Canadian Natural Resources Limited, Key Valuation Metrics 10
Key Valuation Metrics, Q1, 2015-Q1, 2016 10
Canadian Natural Resources Limited, Quarterly Results of Oil & Gas Operations Per boe Produced 11
Results of Oil & Gas Operations Per boe Produced, Q1, 2015-Q1, 2016 11
Results of Oil & Gas Operations Per boe Growth Rates, Q1, 2015-Q1, 2016 12
Canadian Natural Resources Limited, Quarterly E&P Costs Trends 13
Upstream Capital Expenditure, Q1, 2015-Q1, 2016 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, 2015-Q1, 2016 14
Total Crude Oil & Natural Gas Production, By Country/Region, Q1, 2015-Q1, 2016 15
Canadian Natural Resources Limited, Crude Oil Production 16
Total Crude Oil Production Trend, Q1, 2015-Q1, 2016 16
Crude Oil Production, By Country/Region, Q1, 2015-Q1, 2016 17
Canadian Natural Resources Limited, Natural Gas Production 18
Total Natural Gas Production Trend, Q1, 2015-Q1, 2016 18
Natural Gas Production, By Country/Region, Q1, 2015-Q1, 2016 19
Canadian Natural Resources Limited, Valuation and Financial Data, 2011-2015 20
Canadian Natural Resources Limited, Share Price Performance, 2011-2015 20
Share Price Performance, 2011-2015 20
Key Valuation Metrics, 2011-2015 21
Canadian Natural Resources Limited, 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
Canadian Natural Resources Limited, 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
Canadian Natural Resources Limited, 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
Canadian Natural Resources Limited, 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
Canadian Natural Resources Limited, 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 75
Recent Developments 76
Canadian Natural Resources Limited - Recent Developments 76
Jun 24, 2016: Canadian Natural Resources Penalized $500,000 For Hydrogen Sulfide Releases 76
Jun 23, 2016: CNR Takes Ninian South Platform Offline After Fire 76
May 05, 2016: Canadian Natural Resources Announces 2016 First Quarter Results 76
Mar 17, 2016: AER Receives CNRL Application For Cold Lake Oil Sands Area 83
Mar 03, 2016: Canadian Natural Resources Announces 2015 Fourth Quarter And Year End Results And 2016 Budget 84
Jan 07, 2016: AER To Hold A Public Hearing For CNRL's Boundary Lake South Field 94
Nov 05, 2015: Canadian Natural Resources Announces 2015 Third Quarter Results 94
Aug 06, 2015: Canadian Natural Resources Announces 2015 Second Quarter Results 102
Jun 04, 2015: Pembina Pipeline Announces Expansion Of Horizon Pipeline System 110
May 25, 2015: CNRL Cuts Production At Kirby South Oil Sands Project Due To Wildfire 110
Appendix 111
Methodology 111
Coverage 111
Secondary Research 111
Primary Research 111
Data Information Sources 112
Company Source 112
SEC/Other Regulatory Filings 112
Other Sources 112
Expert Panel Validation 112
Data Definition 112
Oil and Gas Reserves 112
Units of Measure 113
About GlobalData 113
Disclosure 113
Disclaimer 113

List of Tables
Table 1: Canadian Natural Resources Limited, Key Facts 8
Table 2: Canadian Natural Resources Limited, Share Price Performance, Q1, 2015-Q1, 2016 9
Table 3: Canadian Natural Resources Limited, Key Valuation Metrics, Q1, 2015-Q1, 2016 10
Table 4: Canadian Natural Resources Limited, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q1, 2015-Q1, 2016 11
Table 5: Canadian Natural Resources Limited, Results of Oil & Gas Operations Per boe Growth Rates, %, Q1, 2015-Q1, 2016 12
Table 6: Canadian Natural Resources Limited, Upstream Capital Expenditure, Q1, 2015-Q1, 2016 13
Table 7: Canadian Natural Resources Limited, Total Crude Oil and Natural Gas, Production, Q1, 2015-Q1, 2016 14
Table 8: Canadian Natural Resources Limited, Total Oil & Gas Production, By Country/Region, mmboe, Q1, 2015-Q1, 2016 15
Table 9: Canadian Natural Resources Limited, Total Crude Oil Production, mmbbl, Q1, 2015-Q1, 2016 16
Table 10: Canadian Natural Resources Limited, Crude Oil Production, By Country/Region, mmbbl, Q1, 2015-Q1, 2016 17
Table 11: Canadian Natural Resources Limited, Total Natural Gas Production, bcf, Q1, 2015-Q1, 2016 18
Table 12: Canadian Natural Resources Limited, Natural Gas Production, By Country/Region, bcf, Q1, 2015-Q1, 2016 19
Table 13: Canadian Natural Resources Limited, Share Price Performance, 2011-2015 20
Table 14: Canadian Natural Resources Limited, Key Valuation Metrics, 2011-2015 21
Table 15: Canadian Natural Resources Limited, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 23
Table 16: Canadian Natural Resources Limited, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2011-2015 25
Table 17: Canadian Natural Resources Limited, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2011-2015 26
Table 18: Canadian Natural Resources Limited, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 27
Table 19: Canadian Natural Resources Limited, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2011-2015 29
Table 20: Canadian Natural Resources Limited, Crude Oil Reserve Changes, mmbbl, 2011-2015 30
Table 21: Canadian Natural Resources Limited, Natural Gas Production and Reserves Metrics, bcf, 2011-2015 31
Table 22: Canadian Natural Resources Limited, Natural Gas Production and Reserves, By Country/Region, bcf, 2011-2015 33
Table 23: Canadian Natural Resources Limited, Natural Gas Reserve Changes, bcf, 2011-2015 34
Table 24: Canadian Natural Resources Limited, Oil and Gas Reserves Life Index, Years, 2011-2015 35
Table 25: Canadian Natural Resources Limited, Oil and Gas Reserves Life Index, By Country/Region, Years, 2011-2015 37
Table 26: Canadian Natural Resources Limited, Upstream Capital Expenditure, US$ mil, 2011-2015 38
Table 27: Canadian Natural Resources Limited, Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 40
Table 28: Canadian Natural Resources Limited, Exploration and Development Costs, By Country/Region, US$ mil, 2011-2015 42
Table 29: Canadian Natural Resources Limited, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 44
Table 30: Canadian Natural Resources Limited, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2011-2015 46
Table 31: Canadian Natural Resources Limited, Oil and Gas Production Replacement Ratio, %, 2011-2015 47
Table 32: Canadian Natural Resources Limited, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2011-2015 52
Table 33: Canadian Natural Resources Limited, Revenue and Expenses, US$ mil, 2011-2015 53
Table 34: Canadian Natural Resources Limited, Revenue and Expenses, By Country/Region, US$ mil, 2011-2015 58
Table 35: Canadian Natural Resources Limited, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 59
Table 36: Canadian Natural Resources Limited, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2011-2015 63
Table 37: Canadian Natural Resources Limited, Oil and Gas Performance Metrics, 2011-2015 64
Table 38: Canadian Natural Resources Limited, Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 65
Table 39: Canadian Natural Resources Limited, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2011-2015 68
Table 40: Canadian Natural Resources Limited, Producible Oil and Gas Wells, 2011-2015 69
Table 41: Canadian Natural Resources Limited, Producible Oil and Gas Wells, By Country/Region, 2011-2015 74
Table 42: Canadian Natural Resources Limited, Exploratory and Developed Wells, 2011-2015 75

List of Figures
Figure 1: Canadian Natural Resources Limited, Share Price Performance, CAD/Share, Q1, 2015-Q1, 2016 9
Figure 2: Canadian Natural Resources Limited, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q1, 2015-Q1, 2016 10
Figure 3: Canadian Natural Resources Limited, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q1, 2015-Q1, 2016 11
Figure 4: Canadian Natural Resources Limited, Upstream Capital Expenditure, US$ mil, Q1, 2015-Q1, 2016 13
Figure 5: Canadian Natural Resources Limited, Total Crude Oil and Natural Gas, Production, mmboe, Q1, 2015-Q1, 2016 14
Figure 6: Canadian Natural Resources Limited, Total Oil & Gas Production, By Country/Region, mmboe, Q1, 2015-Q1, 2016 15
Figure 7: Canadian Natural Resources Limited, Total Crude Oil Production, mmbbl, Q1, 2015-Q1, 2016 16
Figure 8: Canadian Natural Resources Limited, Crude Oil Production, By Country/Region, mmbbl, Q1, 2015-Q1, 2016 17
Figure 9: Canadian Natural Resources Limited, Total Natural Gas Production, bcf, Q1, 2015-Q1, 2016 18
Figure 10: Canadian Natural Resources Limited, Natural Gas Production, By Country/Region, bcf, Q1, 2015-Q1, 2016 19
Figure 11: Canadian Natural Resources Limited, Share Price Performance, CAD/Share, 2011-2015 20
Figure 12: Canadian Natural Resources Limited, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2011-2015 21
Figure 13: Canadian Natural Resources Limited, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 22
Figure 14: Canadian Natural Resources Limited, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2011-2015 24
Figure 15: Canadian Natural Resources Limited, Total Oil & Gas Production, By Country/Region, mmboe, 2011-2015 24
Figure 16: Canadian Natural Resources Limited, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2015 26
Figure 17: Canadian Natural Resources Limited, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 27
Figure 18: Canadian Natural Resources Limited, Oil Reserves, End of Period, By Country/Region, Mmbbl, 2011-2015 28
Figure 19: Canadian Natural Resources Limited, Oil Production, By Country/Region, mmbbl, 2011-2015 28
Figure 20: Canadian Natural Resources Limited, Crude Oil Reserve Changes, mmbbl, 2015 30
Figure 21: Canadian Natural Resources Limited, Natural Gas Production and Reserves Metrics, bcf, 2011-2015 31
Figure 22: Canadian Natural Resources Limited, Gas Reserves, End of Period, By Country/Region, bcf, 2011-2015 32
Figure 23: Canadian Natural Resources Limited, Gas Production, By Country/Region, bcf, 2011-2015 32
Figure 24: Canadian Natural Resources Limited, Natural Gas Reserve Changes, bcf, 2015 34
Figure 25: Canadian Natural Resources Limited, Oil and Gas Reserves Life Index, Years, 2011-2015 35
Figure 26: Canadian Natural Resources Limited, Gas Reserve Life Index, By Country/Region, Years, 2011-2015 36
Figure 27: Canadian Natural Resources Limited, Oil & Gas Reserve Life Index, By Country/Region, Years, 2011-2015 36
Figure 28: Canadian Natural Resources Limited, Oil Reserve Life Index, By Country/Region, Years, 2011-2015 37
Figure 29: Canadian Natural Resources Limited, Upstream Capital Expenditure, US$ mil, 2011-2015 38
Figure 30: Canadian Natural Resources Limited, Proved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 39
Figure 31: Canadian Natural Resources Limited, Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 39
Figure 32: Canadian Natural Resources Limited, Development Costs, By Country/Region, US$ mil, 2011-2015 41
Figure 33: Canadian Natural Resources Limited, Exploration Costs, By Country/Region, US$ mil, 2011-2015 41
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, 2011-2015 43
Figure 35: Canadian Natural Resources Limited, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, $/boe, 2011-2015 45
Figure 36: Canadian Natural Resources Limited, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, $/Boe, 2011-2015 45
Figure 37: Canadian Natural Resources Limited, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, $/boe, 2011-2015 46
Figure 38: Canadian Natural Resources Limited, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2011-2015 47
Figure 39: Canadian Natural Resources Limited, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2011-2015 49
Figure 40: Canadian Natural Resources Limited, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2011-2015 49
Figure 41: Canadian Natural Resources Limited, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2011-2015 50
Figure 42: Canadian Natural Resources Limited, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2011-2015 50
Figure 43: Canadian Natural Resources Limited, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2011-2015 51
Figure 44: Canadian Natural Resources Limited, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2011-2015 51
Figure 45: Canadian Natural Resources Limited, Revenue and Expenses, US$ mil, 2011-2015 53
Figure 46: Canadian Natural Resources Limited, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 54
Figure 47: Canadian Natural Resources Limited, Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 54
Figure 48: Canadian Natural Resources Limited, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 55
Figure 49: Canadian Natural Resources Limited, Oil & Gas Revenue, By Country/Region, US$ mil, 2011-2015 55
Figure 50: Canadian Natural Resources Limited, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 56
Figure 51: Canadian Natural Resources Limited, Production Costs, By Country/Region, US$ mil, 2011-2015 56
Figure 52: Canadian Natural Resources Limited, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 57
Figure 53: Canadian Natural Resources Limited, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 59
Figure 54: Canadian Natural Resources Limited, Income Tax/(Benefit) per boe, By Country/Region, $/boe, 2011-2015 60
Figure 55: Canadian Natural Resources Limited, Lifting Cost per boe, By Country/Region, $/boe, 2011-2015 60
Figure 56: Canadian Natural Resources Limited, Annual Net Income per boe, By Country/Region, $/boe, 2011-2015 61
Figure 57: Canadian Natural Resources Limited, Oil & Gas Revenue per boe, By Country/Region, $/boe, 2011-2015 61
Figure 58: Canadian Natural Resources Limited, Total DD&A per boe, By Country/Region, $/boe, 2011-2015 62
Figure 59: Canadian Natural Resources Limited, Total Revenue per boe, By Country/Region, $/boe, 2011-2015 62
Figure 60: Canadian Natural Resources Limited, Oil and Gas Performance Metrics, 2011-2015 64
Figure 61: Canadian Natural Resources Limited, Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 65
Figure 62: Canadian Natural Resources Limited, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2011-2015 66
Figure 63: Canadian Natural Resources Limited, Total Net Undeveloped Acreage, By Country/Region, Acres, 2011-2015 66
Figure 64: Canadian Natural Resources Limited, Total Gross Developed Acreage, By Country/Region, Acres, 2011-2015 67
Figure 65: Canadian Natural Resources Limited, Total Net Developed Acreage, By Country/Region, Acres, 2011-2015 67
Figure 66: Canadian Natural Resources Limited, Producible Oil and Gas Wells, 2011-2015 69
Figure 67: Canadian Natural Resources Limited, Gross Productive Gas Wells, By Country/Region, Number, 2011-2015 70
Figure 68: Canadian Natural Resources Limited, Gross Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 70
Figure 69: Canadian Natural Resources Limited, Gross Productive Oil Wells, By Country/Region, Number, 2011-2015 71
Figure 70: Canadian Natural Resources Limited, Net/Gross Oil & Gas Ratio, By Country/Region, %, 2011-2015 71
Figure 71: Canadian Natural Resources Limited, Net Productive Gas Wells, By Country/Region, Number, 2011-2015 72
Figure 72: Canadian Natural Resources Limited, Net Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 72
Figure 73: Canadian Natural Resources Limited, Net Productive Oil Wells, By Country/Region, Number, 2011-2015 73
Figure 74: Canadian Natural Resources Limited, Exploratory and Developed Wells, 2011-2015 75

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