Petroleo Brasileiro S.A. Oil & Gas Exploration and Production Operations and Cost Analysis – Q1, 2012

Published : June 2012
No. of Pages : 87

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Petroleo Brasileiro S.A. Oil & Gas Exploration and Production Operations and Cost Analysis – Q1, 2012

Summary

Petroleo Brasileiro S.A. 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 ($/Boed), and EV/Proved Reserve ($/MMboe).
- Provides annual and quarterly information on key operational and financial parameters. Annual information is for the current and the last five years while the quarterly information is for the current and the last five 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.

Note: 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.

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 4
List of Figures 5
Petroleo Brasileiro S.A., Valuation and Financial Data 8
Petroleo Brasileiro S.A., Share Price Performance 8
Share Price Performance, Q1, 2011-Q1, 2012 8
Petroleo Brasileiro S.A., Key Valuation Metrics 9
Key Valuation Metrics, Q1, 2011-Q1, 2012 9
Petroleo Brasileiro S.A., Quarterly Results of Oil & Gas Operations Per boe Produced 10
Results of Oil & Gas Operations Per boe Produced, Q1, 2011-Q1, 2012 10
Results of Oil & Gas Operations Per boe Growth Rates, Q1, 2011-Q1, 2012 11
Petroleo Brasileiro S.A., Quarterly E&P Costs Trends 12
Upstream Capital Expenditure, Q1, 2011-Q1, 2012 12
Petroleo Brasileiro S.A., Quarterly Production Trends 13
Petroleo Brasileiro S.A., Total Oil and Gas Production 13
Total Crude Oil and Natural Gas Production Trend, Q1, 2011-Q1, 2012 13
Total Crude Oil & Natural Gas Production, By Country/Region, Q1, 2011-Q1, 2012 14
Petroleo Brasileiro S.A., Crude Oil Production 15
Total Crude Oil Production Trend, Q1, 2011-Q1, 2012 15
Crude Oil Production, By Country/Region, Q1, 2011-Q1, 2012 16
Petroleo Brasileiro S.A., Natural Gas Production 17
Total Natural Gas Production Trend, Q1, 2011-Q1, 2012 17
Natural Gas Production, By Country/Region, Q1, 2011-Q1, 2012 18
Petroleo Brasileiro S.A., Valuation and Financial Data, 2007-2011 19
Petroleo Brasileiro S.A., Share Price Performance, 2007-2011 19
Share Price Performance, 2007-2011 19
Key Valuation Metrics, 2007-2011 20
Petroleo Brasileiro S.A., Production and Reserves Trends 21
Total Oil and Gas, Reserves and Production 21
Total Crude Oil and Natural Gas Production and Reserves Trend, 2007-2011 21
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2007-2011 22
Total Crude Oil and Natural Gas Reserve Changes, 2007-2011 24
Crude Oil/Liquids Production and Reserve 25
Crude Oil/Liquids Production and Reserve Trend, 2007-2011 25
Crude Oil Production and Reserves By Country/Region, 2007-2011 26
Crude Oil/Liquids Reserve Changes, 2007-2011 28
Natural Gas Production and Reserve 29
Natural Gas Production and Reserve Trend, 2007-2011 29
Natural Gas Production and Reserves, By Country/Region, 2007-2011 30
Natural Gas Reserve Changes, 2007-2011 32
Total Crude Oil and Natural Gas Reserves Life Index 33
Total Crude Oil and Natural Gas Reserves Life Index, 2007-2011 33
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2007-2011 34
Petroleo Brasileiro S.A., E&P Costs Trends 36
Allocation of the Upstream Capital Expenditure 36
Upstream Capital Expenditure, 2007-2011 36
Acquisition Costs By Country/Region, 2007-2011 37
Exploration and Development Costs, By Country/Region, 2007-2011 39
Oil and Gas Cost Per boe, $/boe 41
Oil and Gas Cost Per boe, $/boe, 2007-2011 41
Oil and Gas Cost Per boe, $/boe, By Country/Region, 2007-2011 43
Petroleo Brasileiro S.A., Reserve Replacement Ratio 46
Oil and Gas Production Replacement Ratio 46
Oil and Gas Production Replacement Ratio, 2007-2011 46
Oil and Gas Production Replacement Ratio, By Country/Region, 2007-2011 48
Petroleo Brasileiro S.A., Results of Oil & Gas Operations Trend 53
Oil and Gas Revenue and Expenses 53
Oil and Gas Revenue and Expenses, 2007-2011 53
Oil and Gas Revenue and Expenses, By Country/Region, 2007-2011 54
Oil and Gas Revenue and Expenses, Per boe 60
Oil and Gas Revenue and Expenses, By boe, 2007-2011 60
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2007-2011 61
Oil and Gas Performance Metrics 66
Petroleo Brasileiro S.A., Land Holdings and Well Data 67
Developed and Undeveloped Acreage 67
Gross and Net Developed and Undeveloped Acreage, 2007-2011 67
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2007-2011 68
Well Statistics 71
Producible Oil and Gas Well, 2007-2011 71
Producible Oil and Gas Well, By Country/Region, 2007-2011 72
Exploration and Development Wells Drilled, 2007-2011 77
Exploration and Development Wells Drilled, By Country/Region, 2007-2011 78
Recent Developments 80
Petroleo Brasileiro S.A. - Recent Developments 80
May 31, 2012: Transpetro Receives First Oil Tanker Built In Northeastern Brazil 80
May 31, 2012: Petrobras''s New Data Confirms Continuity Of Carcara Discovery In Santos Basin 81
May 27, 2012: Pasadena''s Refinery Alky Unit Malfunctions Due To Release Of Hydrofluoric Acid In US 81
May 24, 2012: Statoil And Partners Confirm Significant Potential Of Pre-salt Block BM-C-33 In Campos Basin Offshore Brazil 81
May 17, 2012: Petrobras''s Lula Field Production Reaches 94,000bpd 82
May 16, 2012: Ocean Rig Announces Acceptance By Petrobras Of Ocean Rig Corcovado 82
May 15, 2012: Petrobras Reports Revenue Of BRL66.1 Billion In Q1 2012 82
May 14, 2012: Ulstein Design & Solutions Delivers Platform Supply Vessel CBO Pacifico In Brazil 83
May 14, 2012: Wartsila Hamworthy Wins Contract From Petrobras To Supply Flare Gas Recovery Packages For FPSO Units 84
May 07, 2012: Oceaneering International Wins Contract From Petrobras To Supply Thermoplastic Production Control Umbilicals Offshore Brazil 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

Note: 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.

List of Figures
Figure 1: Petroleo Brasileiro S.A., Share Price Performance, USD/Share, Q1, 2011-Q1, 2012 8
Figure 2: Petroleo Brasileiro S.A., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q1, 2011-Q1, 2012 9
Figure 3: Petroleo Brasileiro S.A., Results of Oil & Gas Operations Per boe Produced, $/boe, Q1, 2011-Q1, 2012 10
Figure 4: Petroleo Brasileiro S.A., Upstream Capital Expenditure, $m, Q1, 2011-Q1, 2012 12
Figure 5: Petroleo Brasileiro S.A., Total Crude Oil and Natural Gas, Production, MMboe, Q1, 2011-Q1, 2012 13
Figure 6: Petroleo Brasileiro S.A., Total Oil & Gas Production, By Country/Region, MMboe, Q1, 2011-Q1, 2012 14
Figure 7: Petroleo Brasileiro S.A., Total Crude Oil Production, MMbbl, Q1, 2011-Q1, 2012 15
Figure 8: Petroleo Brasileiro S.A., Crude Oil Production, By Country/Region, MMbbl, Q1, 2011-Q1, 2012 16
Figure 9: Petroleo Brasileiro S.A., Total Natural Gas Production, Bcf, Q1, 2011-Q1, 2012 17
Figure 10: Petroleo Brasileiro S.A., Natural Gas Production, By Country/Region, Bcf, Q1, 2011-Q1, 2012 18
Figure 11: Petroleo Brasileiro S.A., Share Price Performance, USD/Share, 2007-2011 19
Figure 12: Petroleo Brasileiro S.A., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), 2007-2011 20
Figure 13: Petroleo Brasileiro S.A., Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 2007-2011 21
Figure 14: Petroleo Brasileiro S.A., Total Oil & Gas Reserves, End of Period, By Country/Region, MMboe, 2007-2011 22
Figure 15: Petroleo Brasileiro S.A., Total Oil & Gas Production, By Country/Region, MMboe, 2007-2011 22
Figure 16: Petroleo Brasileiro S.A., Total Crude Oil and Natural Gas Reserve Changes, MMboe, 2011 24
Figure 17: Petroleo Brasileiro S.A., Crude Oil Production and Reserves Metrics, MMbbl, 2007-2011 25
Figure 18: Petroleo Brasileiro S.A., Oil Reserves, End of Period, By Country/Region, MMbbl, 2007-2011 26
Figure 19: Petroleo Brasileiro S.A., Oil Production, By Country/Region, MMbbl, 2007-2011 26
Figure 20: Petroleo Brasileiro S.A., Crude Oil Reserve Changes, MMbbl, 2011 28
Figure 21: Petroleo Brasileiro S.A., Natural Gas Production and Reserves Metrics, Bcf, 2007-2011 29
Figure 22: Petroleo Brasileiro S.A., Gas Reserves, End of Period, By Country/Region, Bcf, 2007-2011 30
Figure 23: Petroleo Brasileiro S.A., Gas Production, By Country/Region, Bcf, 2007-2011 30
Figure 24: Petroleo Brasileiro S.A., Natural Gas Reserve Changes, Bcf, 2011 32
Figure 25: Petroleo Brasileiro S.A., Oil and Gas Reserves Life Index, Years, 2007-2011 33
Figure 26: Petroleo Brasileiro S.A., Gas Reserve Life Index, By Country/Region, Years, 2007-2011 34
Figure 27: Petroleo Brasileiro S.A., Oil & Gas Reserve Life Index, By Country/Region, Years, 2007-2011 34
Figure 28: Petroleo Brasileiro S.A., Oil Reserve Life Index, By Country/Region, Years, 2007-2011 35
Figure 29: Petroleo Brasileiro S.A., Upstream Capital Expenditure, $m, 2007-2011 36
Figure 30: Petroleo Brasileiro S.A., Proved Acquisition Costs, By Country/Region, $m, 2007-2011 37
Figure 31: Petroleo Brasileiro S.A., Unproved Acquisition Costs, By Country/Region, $m, 2007-2011 37
Figure 32: Petroleo Brasileiro S.A., Development Costs, By Country/Region, $m, 2007-2011 39
Figure 33: Petroleo Brasileiro S.A., Exploration Costs, By Country/Region, $m, 2007-2011 39
Figure 34: Petroleo Brasileiro S.A., 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, 2007-2011 41
Figure 35: Petroleo Brasileiro S.A., Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, $/boe, 2007-2011 43
Figure 36: Petroleo Brasileiro S.A., Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, $/boe, 2007-2011 43
Figure 37: Petroleo Brasileiro S.A., Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, $/boe, 2007-2011 44
Figure 38: Petroleo Brasileiro S.A., Proved Reserves Acquisition Cost per boe, 3-Year Average, By Country/Region, $/boe, 2007-2011 44
Figure 39: Petroleo Brasileiro S.A., 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2007-2011 46
Figure 40: Petroleo Brasileiro S.A., 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2007-2011 48
Figure 41: Petroleo Brasileiro S.A., 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2007-2011 48
Figure 42: Petroleo Brasileiro S.A., 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2007-2011 49
Figure 43: Petroleo Brasileiro S.A., 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2007-2011 49
Figure 44: Petroleo Brasileiro S.A., 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2007-2011 50
Figure 45: Petroleo Brasileiro S.A., 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2007-2011 50
Figure 46: Petroleo Brasileiro S.A., Revenue and Expenses, $m, 2007-2011 53
Figure 47: Petroleo Brasileiro S.A., Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, $m, 2007-2011 54
Figure 48: Petroleo Brasileiro S.A., Exploration Expenses, By Country/Region, $m, 2007-2011 54
Figure 49: Petroleo Brasileiro S.A., Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, $m, 2007-2011 55
Figure 50: Petroleo Brasileiro S.A., Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, $m, 2007-2011 55
Figure 51: Petroleo Brasileiro S.A., Oil & Gas Revenue, By Country/Region, $m, 2007-2011 56
Figure 52: Petroleo Brasileiro S.A., Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, $m, 2007-2011 56
Figure 53: Petroleo Brasileiro S.A., Production Costs, By Country/Region, $m, 2007-2011 57
Figure 54: Petroleo Brasileiro S.A., Total Expenses From Upstream Oil & Gas Operations, By Country/Region, $m, 2007-2011 57
Figure 55: Petroleo Brasileiro S.A., Oil and Gas Revenue and Expenses, $/boe, 2007-2011 60
Figure 56: Petroleo Brasileiro S.A., Exploration Expenses per boe, By Country/Region, $/boe, 2007-2011 61
Figure 57: Petroleo Brasileiro S.A., Income Tax/(Benefit) per boe, By Country/Region, $/boe, 2007-2011 61
Figure 58: Petroleo Brasileiro S.A., Lifting Cost per boe, By Country/Region, $/boe, 2007-2011 62
Figure 59: Petroleo Brasileiro S.A., Annual Net Income per boe, By Country/Region, $/boe, 2007-2011 62
Figure 60: Petroleo Brasileiro S.A., Oil & Gas Revenue per boe, By Country/Region, $/boe, 2007-2011 63
Figure 61: Petroleo Brasileiro S.A., Total DD&A per boe, By Country/Region, $/boe, 2007-2011 63
Figure 62: Petroleo Brasileiro S.A., Total Revenue per boe, By Country/Region, $/boe, 2007-2011 64
Figure 63: Petroleo Brasileiro S.A., Oil and Gas Performance Metrics, 2007-2011 66
Figure 64: Petroleo Brasileiro S.A., Land Holdings (Developed and Undeveloped Acreage), Acres, 2007-2011 67
Figure 65: Petroleo Brasileiro S.A., Total Gross Undeveloped Acreage, By Country/Region, Acres, 2007-2011 68
Figure 66: Petroleo Brasileiro S.A., Total Net Undeveloped Acreage, By Country/Region, Acres, 2007-2011 68
Figure 67: Petroleo Brasileiro S.A., Total Gross Developed Acreage, By Country/Region, Acres, 2007-2011 69
Figure 68: Petroleo Brasileiro S.A., Total Net Developed Acreage, By Country/Region, Acres, 2007-2011 69
Figure 69: Petroleo Brasileiro S.A., Producible Oil and Gas Wells, 2007-2011 71
Figure 70: Petroleo Brasileiro S.A., Gross Productive Gas Wells, By Country/Region, Number, 2007-2011 72
Figure 71: Petroleo Brasileiro S.A., Gross Productive Oil & Gas Wells, By Country/Region, Number, 2007-2011 72
Figure 72: Petroleo Brasileiro S.A., Gross Productive Oil Wells, By Country/Region, Number, 2007-2011 73
Figure 73: Petroleo Brasileiro S.A., Net/Gross Oil & Gas Ratio, By Country/Region, %, 2007-2011 73
Figure 74: Petroleo Brasileiro S.A., Net Productive Gas Wells, By Country/Region, Number, 2007-2011 74
Figure 75: Petroleo Brasileiro S.A., Net Productive Oil & Gas Wells, By Country/Region, Number, 2007-2011 74
Figure 76: Petroleo Brasileiro S.A., Net Productive Oil Wells, By Country/Region, Number, 2007-2011 75
Figure 77: Petroleo Brasileiro S.A., Exploratory and Developed Wells, 2007-2011 77

Petroleo Brasileiro S.A. Oil & Gas Exploration and Production Operations and Cost Analysis – Q1, 2012

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