Devon Energy Corporation Oil & Gas Exploration and Production Operations and Cost Analysis - Q1, 2016

GlobalData
92 Pages - GLDATA57267
$250.00

Summary

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 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
Devon Energy Corporation, Valuation and Financial Data 9
Devon Energy Corporation, Share Price Performance 9
Share Price Performance, Q1, 2015-Q1, 2016 9
Devon Energy Corporation, Key Valuation Metrics 10
Key Valuation Metrics, Q1, 2015-Q1, 2016 10
Devon Energy Corporation, 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
Devon Energy Corporation, Quarterly E&P Costs Trends 13
Upstream Capital Expenditure, Q1, 2015-Q1, 2016 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, Q1, 2015-Q1, 2016 14
Total Crude Oil & Natural Gas Production, By Country/Region, Q1, 2015-Q1, 2016 15
Devon Energy Corporation, 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
Devon Energy Corporation, 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
Devon Energy Corporation, Valuation and Financial Data, 2011-2015 20
Devon Energy Corporation, Share Price Performance, 2011-2015 20
Share Price Performance, 2011-2015 20
Key Valuation Metrics, 2011-2015 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, 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
Devon Energy Corporation, 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
Devon Energy Corporation, 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
Devon Energy Corporation, 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
Devon Energy Corporation, 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
Exploration and Development Wells Drilled, By Country/Region, 2011-2015 76
Recent Developments 77
Devon Energy Corporation - Recent Developments 77
Jul 18, 2016: Devon Energy Announces Successful STACK Spacing Test And Record-Setting Oil Well 77
Jul 01, 2016: White Star Closes On Acquisition Of Mississippi Lime And Woodford Shale Assets; Announces Completion Of Recapitalization Initiatives And Key Executive Appointments 77
May 04, 2016: Devon May Enhance Spending And Drilling If Oil Prices Continue To Increase 78
May 03, 2016: Devon Energy Reports First-Quarter 2016 Results 79
Apr 20, 2016: American Energy - Woodford Formalizes Name Change To White Star Petroleum With Key Executive Appointments 81
Feb 16, 2016: Devon Energy Announces Pending Retirements Of Darryl Smette, EVP Of Marketing, Facilities, Pipeline & Supply Chain, And Frank Rudolph, EVP Of Human Resources 82
Feb 16, 2016: Devon Energy Reports Fourth-Quarter And Full-Year 2015 Results; Provides 2016 Capital And Production Outlook 83
Feb 16, 2016: Devon Energy To Cut 1,000 Jobs Due To Weak Oil Prices 86
Nov 03, 2015: Devon Energy Reports Third-Quarter 2015 Results 87
Oct 28, 2015: Devon Energy Eliminates 200 Jobs In Canada 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: Devon Energy Corporation, Key Facts 8
Table 2: Devon Energy Corporation, Share Price Performance, Q1, 2015-Q1, 2016 9
Table 3: Devon Energy Corporation, Key Valuation Metrics, Q1, 2015-Q1, 2016 10
Table 4: Devon Energy Corporation, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q1, 2015-Q1, 2016 11
Table 5: Devon Energy Corporation, Results of Oil & Gas Operations Per boe Growth Rates, %, Q1, 2015-Q1, 2016 12
Table 6: Devon Energy Corporation, Upstream Capital Expenditure, Q1, 2015-Q1, 2016 13
Table 7: Devon Energy Corporation, Total Crude Oil and Natural Gas, Production, Q1, 2015-Q1, 2016 14
Table 8: Devon Energy Corporation, Total Oil & Gas Production, By Country/Region, mmboe, Q1, 2015-Q1, 2016 15
Table 9: Devon Energy Corporation, Total Crude Oil Production, mmbbl, Q1, 2015-Q1, 2016 16
Table 10: Devon Energy Corporation, Crude Oil Production, By Country/Region, mmbbl, Q1, 2015-Q1, 2016 17
Table 11: Devon Energy Corporation, Total Natural Gas Production, bcf, Q1, 2015-Q1, 2016 18
Table 12: Devon Energy Corporation, Natural Gas Production, By Country/Region, bcf, Q1, 2015-Q1, 2016 19
Table 13: Devon Energy Corporation, Share Price Performance, 2011-2015 20
Table 14: Devon Energy Corporation, Key Valuation Metrics, 2011-2015 21
Table 15: Devon Energy Corporation, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 23
Table 16: Devon Energy Corporation, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2011-2015 25
Table 17: Devon Energy Corporation, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2011-2015 26
Table 18: Devon Energy Corporation, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 27
Table 19: Devon Energy Corporation, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2011-2015 29
Table 20: Devon Energy Corporation, Crude Oil Reserve Changes, mmbbl, 2011-2015 30
Table 21: Devon Energy Corporation, Natural Gas Production and Reserves Metrics, bcf, 2011-2015 31
Table 22: Devon Energy Corporation, Natural Gas Production and Reserves, By Country/Region, bcf, 2011-2015 33
Table 23: Devon Energy Corporation, Natural Gas Reserve Changes, bcf, 2011-2015 34
Table 24: Devon Energy Corporation, Oil and Gas Reserves Life Index, Years, 2011-2015 35
Table 25: Devon Energy Corporation, Oil and Gas Reserves Life Index, By Country/Region, Years, 2011-2015 37
Table 26: Devon Energy Corporation, Upstream Capital Expenditure, US$ mil, 2011-2015 38
Table 27: Devon Energy Corporation, Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 40
Table 28: Devon Energy Corporation, Exploration and Development Costs, By Country/Region, US$ mil, 2011-2015 42
Table 29: Devon Energy Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 44
Table 30: Devon Energy Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2011-2015 46
Table 31: Devon Energy Corporation, Oil and Gas Production Replacement Ratio, %, 2011-2015 48
Table 32: Devon Energy Corporation, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2011-2015 52
Table 33: Devon Energy Corporation, Revenue and Expenses, US$ mil, 2011-2015 53
Table 34: Devon Energy Corporation, Revenue and Expenses, By Country/Region, US$ mil, 2011-2015 58
Table 35: Devon Energy Corporation, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 59
Table 36: Devon Energy Corporation, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2011-2015 63
Table 37: Devon Energy Corporation, Oil and Gas Performance Metrics, 2011-2015 64
Table 38: Devon Energy Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 65
Table 39: Devon Energy Corporation, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2011-2015 68
Table 40: Devon Energy Corporation, Producible Oil and Gas Wells, 2011-2015 69
Table 41: Devon Energy Corporation, Producible Oil and Gas Wells, By Country/Region, 2011-2015 74
Table 42: Devon Energy Corporation, Exploratory and Developed Wells, 2011-2015 75
Table 43: Devon Energy Corporation, Exploratory and Developed Wells, By Country/Region, 2011-2015 76

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

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