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Table of Contents
Table of Contents 2
List of Tables 4
List of Figures 5
Company Snapshot 7
Key Information 7
Company Overview 7
Madalena Energy Inc., Valuation and Financial Data 8
Madalena Energy Inc., Share Price Performance 8
Share Price Performance, Q2, 2015-Q2, 2016 8
Madalena Energy Inc., Key Valuation Metrics 9
Key Valuation Metrics, Q2, 2015-Q2, 2016 9
Madalena Energy Inc., Quarterly Results of Oil & Gas Operations Per boe Produced 10
Results of Oil & Gas Operations Per boe Produced, Q2, 2015-Q2, 2016 10
Results of Oil & Gas Operations Per boe Growth Rates, Q2, 2015-Q2, 2016 11
Madalena Energy Inc., Quarterly E&P Costs Trends 12
Upstream Capital Expenditure, Q2, 2015-Q2, 2016 12
Madalena Energy Inc., Quarterly Production Trends 13
Madalena Energy Inc., Total Oil and Gas Production 13
Total Crude Oil and Natural Gas Production Trend, Q2, 2015-Q2, 2016 13
Total Crude Oil & Natural Gas Production, By Country/Region, Q2, 2015-Q2, 2016 14
Madalena Energy Inc., Crude Oil Production 15
Total Crude Oil Production Trend, Q2, 2015-Q2, 2016 15
Crude Oil Production, By Country/Region, Q2, 2015-Q2, 2016 16
Madalena Energy Inc., Natural Gas Production 17
Total Natural Gas Production Trend, Q2, 2015-Q2, 2016 17
Natural Gas Production, By Country/Region, Q2, 2015-Q2, 2016 18
Madalena Energy Inc., Valuation and Financial Data, 2011-2015 19
Madalena Energy Inc., Share Price Performance, 2011-2015 19
Share Price Performance, 2011-2015 19
Key Valuation Metrics, 2011-2015 20
Madalena Energy Inc., Production and Reserves Trends 21
Total Oil and Gas, Reserves and Production 21
Total Crude Oil and Natural Gas Production and Reserves Trend, 2011-2015 21
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2011-2015 23
Total Crude Oil and Natural Gas Reserve Changes, 2011-2015 25
Crude Oil/Liquids Production and Reserve 26
Crude Oil/Liquids Production and Reserve Trend, 2011-2015 26
Crude Oil Production and Reserves By Country/Region, 2011-2015 27
Crude Oil/Liquids Reserve Changes, 2011-2015 29
Natural Gas Production and Reserve 30
Natural Gas Production and Reserve Trend, 2011-2015 30
Natural Gas Production and Reserves, By Country/Region, 2011-2015 31
Natural Gas Reserve Changes, 2011-2015 33
Total Crude Oil and Natural Gas Reserves Life Index 34
Total Crude Oil and Natural Gas Reserves Life Index, 2011-2015 34
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2011-2015 35
Madalena Energy Inc., E&P Costs Trends 37
Allocation of the Upstream Capital Expenditure 37
Upstream Capital Expenditure, 2011-2015 37
Exploration and Development Costs, By Country/Region, 2011-2015 38
Oil and Gas Cost Per boe, US$/boe 40
Oil and Gas Cost Per boe, US$/boe, 2011-2015 40
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2011-2015 42
Madalena Energy Inc., Reserve Replacement Ratio 44
Oil and Gas Production Replacement Ratio 44
Oil and Gas Production Replacement Ratio, 2011-2015 44
Oil and Gas Production Replacement Ratio, By Country/Region, 2011-2015 46
Madalena Energy Inc., Results of Oil & Gas Operations Trend 50
Oil and Gas Revenue and Expenses 50
Oil and Gas Revenue and Expenses, 2011-2015 50
Oil and Gas Revenue and Expenses, By Country/Region, 2011-2015 51
Oil and Gas Revenue and Expenses, Per boe 55
Oil and Gas Revenue and Expenses, By boe, 2011-2015 55
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2011-2015 56
Oil and Gas Performance Metrics 59
Madalena Energy Inc., Land Holdings and Well Data 60
Developed and Undeveloped Acreage 60
Gross and Net Developed and Undeveloped Acreage, 2011-2015 60
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2011-2015 61
Well Statistics 63
Producible Oil and Gas Well, 2011-2015 63
Producible Oil and Gas Well, By Country/Region, 2011-2015 64
Exploration and Development Wells Drilled, 2011-2015 69
Exploration and Development Wells Drilled, By Country/Region, 2011-2015 70
Recent Developments 71
Madalena Energy Inc. - Recent Developments 71
Nov 22, 2016: Madalena Announces Q3 - 2016 Results 71
Nov 17, 2016: Madalena Provides Update With Respect To Argentine Oil Pricing 72
Aug 23, 2016: Madalena Announces Q2 - 2016 Results And A Review Of Strategic Alternatives 72
Jul 19, 2016: Madalena Announces Board And Executive Changes And Shares For Debt Transaction 72
Jun 28, 2016: Point Loma Resources & Madalena Energy Announce Closing Of Asset Deal In Central Alberta And Recapitalization Of First Mountain Exploration 73
May 16, 2016: Madalena Announces Q1 - 2016 Results 74
Apr 21, 2016: Madalena Announces Fourth Quarter And Year End 2015 Financial Results And Provides Operations Update And 2016 Outlook 75
Mar 24, 2016: Madalena Energy Announces Executive And Board Changes 77
Feb 22, 2016: Madalena Announces Year End Reserves And Resources 78
Feb 16, 2016: Madalena Announces An Oil Exploration Discovery In The Lower Agrio Shale In Argentina 80
Appendix 83
Methodology 83
Coverage 83
Secondary Research 83
Primary Research 83
Data Information Sources 84
Company Source 84
SEC/Other Regulatory Filings 84
Other Sources 84
Expert Panel Validation 84
Data Definition 84
Oil and Gas Reserves 84
Units of Measure 85
About GlobalData 85
Disclosure 85
Disclaimer 85
List of Tables
Table 1: Madalena Energy Inc., Key Facts 7
Table 2: Madalena Energy Inc., Share Price Performance, Q2, 2015-Q2, 2016 8
Table 3: Madalena Energy Inc., Key Valuation Metrics, Q2, 2015-Q2, 2016 9
Table 4: Madalena Energy Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q2, 2015-Q2, 2016 10
Table 5: Madalena Energy Inc., Results of Oil & Gas Operations Per boe Growth Rates, %, Q2, 2015-Q2, 2016 11
Table 6: Madalena Energy Inc., Upstream Capital Expenditure, Q2, 2015-Q2, 2016 12
Table 7: Madalena Energy Inc., Total Crude Oil and Natural Gas, Production, Q2, 2015-Q2, 2016 13
Table 8: Madalena Energy Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q2, 2015-Q2, 2016 14
Table 9: Madalena Energy Inc., Total Crude Oil Production, mmbbl, Q2, 2015-Q2, 2016 15
Table 10: Madalena Energy Inc., Crude Oil Production, By Country/Region, mmbbl, Q2, 2015-Q2, 2016 16
Table 11: Madalena Energy Inc., Total Natural Gas Production, bcf, Q2, 2015-Q2, 2016 17
Table 12: Madalena Energy Inc., Natural Gas Production, By Country/Region, bcf, Q2, 2015-Q2, 2016 18
Table 13: Madalena Energy Inc., Share Price Performance, 2011-2015 19
Table 14: Madalena Energy Inc., Key Valuation Metrics, 2011-2015 20
Table 15: Madalena Energy Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 22
Table 16: Madalena Energy Inc., Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2011-2015 24
Table 17: Madalena Energy Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2011-2015 25
Table 18: Madalena Energy Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 26
Table 19: Madalena Energy Inc., Crude Oil Production and Reserves, By Country/Region, mmbbl, 2011-2015 28
Table 20: Madalena Energy Inc., Crude Oil Reserve Changes, mmbbl, 2011-2015 29
Table 21: Madalena Energy Inc., Natural Gas Production and Reserves Metrics, bcf, 2011-2015 30
Table 22: Madalena Energy Inc., Natural Gas Production and Reserves, By Country/Region, bcf, 2011-2015 32
Table 23: Madalena Energy Inc., Natural Gas Reserve Changes, bcf, 2011-2015 33
Table 24: Madalena Energy Inc., Oil and Gas Reserves Life Index, Years, 2011-2015 34
Table 25: Madalena Energy Inc., Oil and Gas Reserves Life Index, By Country/Region, Years, 2011-2015 36
Table 26: Madalena Energy Inc., Upstream Capital Expenditure, US$ mil, 2011-2015 37
Table 27: Madalena Energy Inc., Exploration and Development Costs, By Country/Region, US$ mil, 2011-2015 39
Table 28: Madalena Energy Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 41
Table 29: Madalena Energy Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2011-2015 43
Table 30: Madalena Energy Inc., Oil and Gas Production Replacement Ratio, %, 2011-2015 45
Table 31: Madalena Energy Inc., 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2011-2015 49
Table 32: Madalena Energy Inc., Revenue and Expenses, US$ mil, 2011-2015 50
Table 33: Madalena Energy Inc., Revenue and Expenses, By Country/Region, US$ mil, 2011-2015 54
Table 34: Madalena Energy Inc., Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 55
Table 35: Madalena Energy Inc., Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2011-2015 58
Table 36: Madalena Energy Inc., Oil and Gas Performance Metrics, 2011-2015 59
Table 37: Madalena Energy Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 60
Table 38: Madalena Energy Inc., Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2011-2015 62
Table 39: Madalena Energy Inc., Producible Oil and Gas Wells, 2011-2015 63
Table 40: Madalena Energy Inc., Producible Oil and Gas Wells, By Country/Region, 2011-2015 68
Table 41: Madalena Energy Inc., Exploratory and Developed Wells, 2011-2015 69
Table 42: Madalena Energy Inc., Exploratory and Developed Wells, By Country/Region, 2011-2015 70
List of Figures
Figure 1: Madalena Energy Inc., Share Price Performance, CAD/Share, Q2, 2015-Q2, 2016 8
Figure 2: Madalena Energy Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q2, 2015-Q2, 2016 9
Figure 3: Madalena Energy Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q2, 2015-Q2, 2016 10
Figure 4: Madalena Energy Inc., Upstream Capital Expenditure, US$ mil, Q2, 2015-Q2, 2016 12
Figure 5: Madalena Energy Inc., Total Crude Oil and Natural Gas, Production, mmboe, Q2, 2015-Q2, 2016 13
Figure 6: Madalena Energy Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q2, 2015-Q2, 2016 14
Figure 7: Madalena Energy Inc., Total Crude Oil Production, mmbbl, Q2, 2015-Q2, 2016 15
Figure 8: Madalena Energy Inc., Crude Oil Production, By Country/Region, mmbbl, Q2, 2015-Q2, 2016 16
Figure 9: Madalena Energy Inc., Total Natural Gas Production, bcf, Q2, 2015-Q2, 2016 17
Figure 10: Madalena Energy Inc., Natural Gas Production, By Country/Region, bcf, Q2, 2015-Q2, 2016 18
Figure 11: Madalena Energy Inc., Share Price Performance, CAD/Share, 2011-2015 19
Figure 12: Madalena Energy Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2011-2015 20
Figure 13: Madalena Energy Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 21
Figure 14: Madalena Energy Inc., Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2011-2015 23
Figure 15: Madalena Energy Inc., Total Oil & Gas Production, By Country/Region, mmboe, 2011-2015 23
Figure 16: Madalena Energy Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2015 25
Figure 17: Madalena Energy Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 26
Figure 18: Madalena Energy Inc., Oil Reserves, End of Period, By Country/Region, mmbbl, 2011-2015 27
Figure 19: Madalena Energy Inc., Oil Production, By Country/Region, mmbbl, 2011-2015 27
Figure 20: Madalena Energy Inc., Crude Oil Reserve Changes, mmbbl, 2015 29
Figure 21: Madalena Energy Inc., Natural Gas Production and Reserves Metrics, bcf, 2011-2015 30
Figure 22: Madalena Energy Inc., Gas Reserves, End of Period, By Country/Region, bcf, 2011-2015 31
Figure 23: Madalena Energy Inc., Gas Production, By Country/Region, bcf, 2011-2015 31
Figure 24: Madalena Energy Inc., Natural Gas Reserve Changes, bcf, 2015 33
Figure 25: Madalena Energy Inc., Oil and Gas Reserves Life Index, Years, 2011-2015 34
Figure 26: Madalena Energy Inc., Gas Reserve Life Index, By Country/Region, Years, 2011-2015 35
Figure 27: Madalena Energy Inc., Oil & Gas Reserve Life Index, By Country/Region, Years, 2011-2015 35
Figure 28: Madalena Energy Inc., Oil Reserve Life Index, By Country/Region, Years, 2011-2015 36
Figure 29: Madalena Energy Inc., Upstream Capital Expenditure, US$ mil, 2011-2015 37
Figure 30: Madalena Energy Inc., Development Costs, By Country/Region, US$ mil, 2011-2015 38
Figure 31: Madalena Energy Inc., Exploration Costs, By Country/Region, US$ mil, 2011-2015 38
Figure 32: Madalena Energy Inc., 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 40
Figure 33: Madalena Energy Inc., Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 42
Figure 34: Madalena Energy Inc., Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 42
Figure 35: Madalena Energy Inc., Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 43
Figure 36: Madalena Energy Inc., 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2011-2015 44
Figure 37: Madalena Energy Inc., 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2011-2015 46
Figure 38: Madalena Energy Inc., 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2011-2015 46
Figure 39: Madalena Energy Inc., 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2011-2015 47
Figure 40: Madalena Energy Inc., 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2011-2015 47
Figure 41: Madalena Energy Inc., 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2011-2015 48
Figure 42: Madalena Energy Inc., 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2011-2015 48
Figure 43: Madalena Energy Inc., Revenue and Expenses, US$ mil, 2011-2015 50
Figure 44: Madalena Energy Inc., Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 51
Figure 45: Madalena Energy Inc., Oil & Gas Revenue, By Country/Region, US$ mil, 2011-2015 51
Figure 46: Madalena Energy Inc., Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 52
Figure 47: Madalena Energy Inc., Production Costs, By Country/Region, US$ mil, 2011-2015 52
Figure 48: Madalena Energy Inc., Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 53
Figure 49: Madalena Energy Inc., Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 55
Figure 50: Madalena Energy Inc., Lifting Cost per boe, By Country/Region, US$/boe, 2011-2015 56
Figure 51: Madalena Energy Inc., Annual Net Income per boe, By Country/Region, US$/boe, 2011-2015 56
Figure 52: Madalena Energy Inc., Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2011-2015 57
Figure 53: Madalena Energy Inc., Total DD&A per boe, By Country/Region, US$/boe, 2011-2015 57
Figure 54: Madalena Energy Inc., Total Revenue per boe, By Country/Region, US$/boe, 2011-2015 58
Figure 55: Madalena Energy Inc., Oil and Gas Performance Metrics, 2011-2015 59
Figure 56: Madalena Energy Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 60
Figure 57: Madalena Energy Inc., Total Gross Undeveloped Acreage, By Country/Region, Acres, 2011-2015 61
Figure 58: Madalena Energy Inc., Total Net Undeveloped Acreage, By Country/Region, Acres, 2011-2015 61
Figure 59: Madalena Energy Inc., Producible Oil and Gas Wells, 2011-2015 63
Figure 60: Madalena Energy Inc., Gross Productive Gas Wells, By Country/Region, Number, 2011-2015 64
Figure 61: Madalena Energy Inc., Gross Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 64
Figure 62: Madalena Energy Inc., Gross Productive Oil Wells, By Country/Region, Number, 2011-2015 65
Figure 63: Madalena Energy Inc., Net/Gross Oil & Gas Ratio, By Country/Region, %, 2011-2015 65
Figure 64: Madalena Energy Inc., Net Productive Gas Wells, By Country/Region, Number, 2011-2015 66
Figure 65: Madalena Energy Inc., Net Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 66
Figure 66: Madalena Energy Inc., Net Productive Oil Wells, By Country/Region, Number, 2011-2015 67
Figure 67: Madalena Energy Inc., Exploratory and Developed Wells, 2011-2015 69