Top 10 Large - Cap Canadian Independent Exploration and Production (E&P) Companies - Financial & Operational Fundamental Analysis and Benchmarking - 2010


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Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies: Financial & Operational Fundamental Analysis and Benchmarking is the latest report from GlobalData, the industry analysis specialists, that offers comprehensive information on the operational and financial performance of top 10 large-cap Canadian independent exploration and production (E&P) companies. The report benchmarks and analyzes top 10 large-cap Canadian independent exploration and production (E&P) companies on various operational and financial parameters. The report is an essential source for key operational data, analysis and strategic insights into companies. It provides detailed information on the key operational and financial parameters for the last five years. It also highlights the top ranked company on various operational and financial parameters such as proved oil and gas reserves, production, capital expenditures, F&D costs, acreage, performance metrics, results of oil and gas operations and valuation metrics.

Proved oil and gas reserves of the top 10 large-cap Canadian independent exploration and production (E&P) companies decreased in 2009, down from 11.4 billion barrels of oil equivalent (boe) in 2008 to 9.7 billion boe in 2009. Canadian Natural Resources Limited had the highest proved oil and gas reserves of 3,556.8 MMboe among the top 10 large-cap Canadian independent exploration and production (E&P) companies. Decreased exploration and drilling activities along with a significant fall in unproved property acquisition costs led to the total fall in total costs incurred by top 10 large-cap Canadian independent exploration and production (E&P) companies to $ 17.0 billion in 2009, down by 40.1% from the previous year. Total acquisition spending decreased by 58.2% in 2009, down from $ 6.0 billion in 2008 to $ 2.5 billion in 2009, mainly on account of fall in unproved property acquisition costs.

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:
 
  • Detailed and unique insights information on the key operational and financial parameters. The report provides a comprehensive overview of production, production changes, production growth, reserves, reserve changes, reserves growth, capital expenditures, acreage, performance metrics, and results of oil and gas operations.
  • Provides annual information on key operational and financial parameters for the period 2005 to 2009. 
  • Benchmarks the Canadian independent Exploration and Production (E&P) companies on operational and financial parameters. 
  • Companies covered include; Canadian Natural Resources Limited, EnCana Corporation, Talisman Energy Inc., Nexen Inc., Canadian Oil Sands Trust, Penn West Energy Trust, Pacific Rubiales Energy Corp., ARC Resources Ltd., Enerplus Resources Fund and Pengrowth Energy Trust.
  • The Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies: Financial & Operational Fundamental Analysis and Benchmarking report is based on publicly available data filed with the U S Securities and Exchange Commission (SEC) and other similar agencies worldwide. This has then been analyzed by GlobalDatas in house team of experts.
Reasons to buy

The report will enhance your decision making capability in a more rapid and time sensitive manner. It will allow you to

  • Rank your performance against other top 10 large-cap Canadian independent exploration and production (E&P) companies using operational and financial benchmarking metrics
  • Identify M&A targets from up-to-date information and in-depth analysis on financial and operational parameters of your competitors.
  • Formulate your strategies based on in-depth analysis of your competitors in oil and gas markets. 
  • Improve decision making on the basis of peer comparison.
  • Exploit the strengths and weakness of your closest competitors by comparing and analyzing their financial and operational parameters.
Table Of Contents

1 Table of contents 2
1.1 List of Tables 5
1.2 List of Figures 8

2 Reserves and Production Analysis 11
2.1 Analysis of leading 200 North American Oil & Gas Companies 11
2.2 Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil & Gas Reserves Trend, 2005-2009 12
2.2.1 Total Proved Oil and Gas Reserves, 2005-2009 12
2.2.2 Oil and Gas Finding and Development Reserves Additions, 2005-2009 13
2.2.3 Oil and Gas Reserves Replacement Additions (Excluding Sales), 2005-2009 15
2.2.4 Oil and Gas Finding Reserves Additions, 2005-2009 16
2.2.5 Proved Oil Reserves Trend, 2005-2009 17
2.2.6 Proved Gas Reserves Trend, 2005-2009 18
2.2.7 Proved Oil Reserves as a % of Total Oil and Gas Reserves, 2005-2009 20
2.2.8 Proved Gas Reserves as a % of Total Oil and Gas Reserves, 2005-2009 21
2.3 Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Production Trend, 2005-2009 22
2.3.1 Oil and Gas Production Trend, 2005-2009 22
2.3.2 Oil Production Trend, 2005-2009 23
2.3.3 Gas Production Trend, 2005-2009 24
2.4 Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Reserves and Production Trend, 2005-2009 25
2.4.1 Oil and Gas Reserves Growth, 3-Year, CAGR, 2007-2009 25
2.4.2 Oil and Gas Reserves Growth, 5-year, CAGR, 2005-2009 26
2.4.3 Oil and Gas Reserves Change, 2008-2009 27
2.4.4 Oil and Gas Production Growth, 3-Year, CAGR, 2007-2009 28
2.4.5 Oil and Gas Production Growth, 5 Year, CAGR, 2005-2009 29
2.4.6 Oil and Gas Production Change, 2008-2009 30
2.5 Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Reserves Life Ratio, 2005-2009 31
2.5.1 Oil and Gas Reserve/Oil and Gas Production Ratio, Years, 2005-2009 31
2.5.2 Oil Reserve/Oil Production Ratio, Years, 2005-2009 32
2.5.3 Gas Reserve/Gas Production Ratio, Years, 2005-2009 33

3 Reserve Replacement Ratio Analysis 34
3.1 Analysis of leading 200 North American Oil and Gas Companies 34
3.2 Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserve Replacement (Including Sales), Annual %, 2005-2009 34
3.3 Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserve Replacement (Including Sales), 3-Year, %, 2007-2009 36
3.4 Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserve Replacement (Including Sales), 5-Year, %, 2005-2009 37
3.5 Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserve Replacement (Excluding Sales), Annual, %, 2005-2009 38
3.6 Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserve Replacement (Excluding Sales), 3-Year, %, 2005-2009 39
3.7 Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserve Replacement (Excluding Sales), 5-Year, %, 2005-2009 40

4 Costs Incurred In Upstream Oil and Gas Operations 41
4.1 Analysis of leading 200 North American Oil and Gas Companies 41
4.2 Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Total Costs Incurred, 2005-2009 42
4.3 Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, E&P Upstream Capital Expenditure By Type, 2005-2009 43
4.3.1 Total Acquisition Costs, 2005-2009 43
4.3.2 Exploration Costs, 2005-2009 44
4.3.3 Development Costs, 2005-2009 45
4.3.4 Exploration and Development Costs, 2005-2009 46
4.3.5 Exploration and Development Cost as a % of Total Cost Incurred, 2005-2009 47
4.3.6 Upstream Capex as a % of Cash Flow, 2005-2009 48
4.3.7 Finding and Development Costs, 2005-2009 49
4.4 Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Costs Per Boe, $/boe, 2005-2009 51
4.4.1 Oil and Gas Reserve Replacement Costs Per Boe, Annual, $/boe, 2005-2009 51
4.4.2 Oil and Gas Reserve Replacement Cost Per Boe, 3-Year, $/boe, 2005-2009 53
4.4.3 Oil and Gas Reserve Replacement Cost Per Boe, 5-Year, $/BOE 2005-2009 54
4.4.4 Oil and Gas Finding and Development Cost Per Boe, Annual, $/boe, 2005-2009 55
4.4.5 Oil and Gas Finding and Development Cost Per Boe, 3-Year, $/boe, 2005-2009 56
4.4.6 Oil and Gas Finding and Development Cost Per Boe, 5-Year, $/boe, 2005-2009 57

5 Result of Oil and Gas Operations 58
5.1 Analysis of leading 200 North American Oil & Gas Companies 58
5.2 Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Revenue, Cash Flow and Total Expenses, 2005-2009 59
5.2.1 Oil and Gas Revenue From Upstream Oil and Gas Operations, $ Million, 2005-2009 59
5.2.2 Net Income/ Loss From Upstream Oil and Gas Operations, $ Million, 2005-2009 60
5.2.3 Free Cash Flow From Upstream Oil and Gas Operations, $ Million, 2005-2009 62
5.3 Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Performance Metrics, $/boe, 2005-2009 63
5.3.1 Oil and Gas Revenue per boe, $/BOE, 2005-2009 63
5.3.2 Net Income per boe, $/BOE, 2005-2009 64
5.3.3 Cash Flow per boe, $/BOE, 2005-2009 65
5.3.4 Total Depreciation, Depletion & Amortization (DD&A) per boe, $/BOE, 2005-2009 66
5.3.5 Lifting Cost per boe, $/BOE, 2005-2009 67
5.3.6 Net-back per boe, $/BOE, 2005-2009 68

6 Acreage and Well Analysis 69
6.1 Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Developed and Undeveloped Acreage, 2005-2009 69
6.1.1 Total Net Undeveloped Acreage, (Thousand Acres), 2005-2009 69
6.1.2 Total Net Developed and Undeveloped Acreage, (Thousand Acres), 2005-2009 70
6.1.3 Total Net Developed Acreage, (Thousand Acres), 2005-2009 72
6.2 Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Well Data, 2005-2009 73
6.2.1 F&D Cost per Drilled Well, 2005-2009 73
6.2.2 F&D Reserves Additions per Net E&D Well Drilled, 2005-2009 74
6.2.3 Developed Oil and Gas Reserves per well, 2005-2009 75

7 Financial Performance Analysis 76
7.1 Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Revenue, $ Million, 2005-2009 76
7.2 Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Operating Income, $ Million, 2005-2009 77
7.3 Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Net Income/Loss, $ Million, 2005-2009 78
7.4 Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, EBITDA, $ Million, 2005-2009 79
7.5 Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Operating Cash Flow, $ Million, 2005-2009 80
7.6 Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Growth Ratio, 2005-2009 81
7.6.1 Revenue Growth, 2005-2009 81
7.6.2 Profit Growth, 2005-2009 82
7.7 Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Exposure Ratio, 2005-2009 83
7.7.1 Debt leverage, %, 2005-2009 83
7.7.2 Total Debt/Proved Reserves, $/boe, 2005-2009 84
7.8 Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Valuation Metrics, 2005-2009 85
7.8.1 Market Capitalization, 2005-2009 85
7.8.2 Enterprise Value, 2005-2009 86
7.8.3 EV/Proved Reserves, $/boe, 2005-2009 87
7.8.4 EV/Per Daily BOE Produced, $/boe, 2005-2009 87

8 Appendix 89
8.1 Methodology 89
8.1.1 Coverage 89
8.1.2 Secondary Research 90
8.1.3 Primary Research 90
8.1.4 Expert Panel Validation 90
8.2 Definition & Methodology 90
8.3 Contact Us 91
8.4 About GlobalData 91
8.5 Disclaimer 91

Table 1: Leading 200 North American Oil and Gas Companies, Oil and Gas Reserves and Production, 2005-2009 12
Table 2: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Total Proved Oil and Gas Reserves, MMboe, 2005-2009 13
Table 3: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Finding and Development Reserves Additions, MMboe, 2005-2009 14
Table 4: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserves Replacement Additions(Excluding Sales), MMboe, 2005-2009 16
Table 5: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Finding Reserves Additions, MMboe, 2005-2009 17
Table 6: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Proved Oil Reserves, MMbbl, 2005-2009 18
Table 7: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Proved Gas Reserves, Bcf, 2005-2009 19
Table 8: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Proved Oil Reserves as a % of Total Oil and Gas Reserves, %, 2005-2009 20
Table 9: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Proved Gas Reserves as a % of Total Oil and Gas Reserves, %, 2005-2009 21
Table 10: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Total Oil and Gas Production, MMboe, 2005-2009 22
Table 11: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil Production, MMbbl, 2005-2009 23
Table 12: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Gas Production, Bcf, 2005-2009 24
Table 13: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserves Growth, 3-Year, CAGR, 2007-2009 25
Table 14: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserves Growth, 5-Year, CAGR, 2005-2009 26
Table 15: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserves Change, 2008-2009 27
Table 16: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Production Growth, 3-Year, CAGR, 2007-2009 28
Table 17: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Production Growth, 5-Year, CAGR, 2005-2009 29
Table 18: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Production Change, 2008-2009 30
Table 19: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserve/Oil and Gas Production Ratio, Years, 2005-2009 31
Table 20: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil Reserve/Oil Production Ratio, Years, 2005-2009 32
Table 21: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Gas Reserve/Gas Production Ratio, Years, 2005-2009 33
Table 22: Leading 200 North American Oil and Gas Companies, Reserve Replacement Ratio, %, Median, 2005-2009 34
Table 23: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserves Replacement (Including Sales), Annual, %, 2005-2009 35
Table 24: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserve Replacement (Including Sales), 3-Year, %, 2007-2009 36
Table 25: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserve Replacement (Including Sales), 5-Year, %, 2005-2009 37
Table 26: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserve Replacement (Excluding Sales), Annual, %, 2005-2009 38
Table 27: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserve Replacement (Excluding Sales), 3-Year, %, 2005-2009 39
Table 28: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserve Replacement (Excluding Sales), 5-Year, %, 2005-2009 40
Table 29: Leading 200 North American Oil and Gas Companies, Total Costs Incurred In Upstream Operations, 2005-2009 ($Million) 41
Table 30: Leading 200 North American Oil and Gas Companies, Cost per boe, $/boe, Median, 2005-2009 41
Table 31: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Total Costs Incurred, $ Million, 2005-2009 42
Table 32: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Total Acquisition Costs, $ Million, 2005-2009 44
Table 33: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Exploration Costs, $ Million, 2005-2009 45
Table 34: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Development Costs, $ Million, 2005-2009 46
Table 35: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Exploration and Development Cost, $ Million, 2005-2009 47
Table 36: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Exploration and Development Cost as a % of Total Cost Incurred, %, 2005-2009 48
Table 37: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Upstream Capex as a percentage of Cash Flow, %, 2005-2009 49
Table 38: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Finding and Development Costs, $ Million, 2005-2009 50
Table 39: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Reserve Replacement Cost Per Boe, Annual, $/boe, 2005-2009 52
Table 40: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, 3-Year Weighted Average Reserve Replacement Cost Per Boe, $/boe, 2005-2009 53
Table 41: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, 5-Year Weighted Average Oil and Gas Reserve Replacement Costs Per Boe, $/boe, 2005-2009 54
Table 42: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Finding and Development Cost Per Boe, Annual, $/boe, 2005-2009 55
Table 43: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, 3-Year Weighted Average Oil and Gas Finding and Development Cost Per Boe, $/boe, 2005-2009 56
Table 44: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, 5-Year Weighted Average Oil and Gas Finding and Development Cost Per Boe, $/boe, 2005-2009 57
Table 45: Leading 200 North American Oil and Gas Companies, Results of Oil & Gas Operations Per Boe, $/boe, Median, 2005-2009 58
Table 46: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Revenue From Upstream Oil and Gas Operations, $ Million, 2005-2009 60
Table 47: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Net Income/ Loss From Upstream Oil and Gas Operations, $ Million, 2005-2009 61
Table 48: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Free Cash Flow From Upstream Oil and Gas Operations, $ Million, 2005-2009 62
Table 49: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Revenue per boe, $/BOE, 2005-2009 63
Table 50: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Net Income per boe, $/BOE, 2005-2009 64
Table 51: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Cash Flow per boe, $/BOE, 2005-2009 65
Table 52: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Total DD&A per boe, $/BOE, 2005-2009 66
Table 53: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Lifting Cost per boe, $/BOE,2005-2009 67
Table 54: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Net-back per boe, $/BOE, 2005-2009 68
Table 55: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Total Net Undeveloped Acreage, (Thousand Acres), 2005-2009 70
Table 56: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Total Net Developed and Undeveloped Acreage, (Thousand Acres), 2005-2009 71
Table 57: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Total Net Developed Acreage, (Thousand Acres), 2005-2009 72
Table 58: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, F&D Cost per Drilled Well, $Million/Well, 2005-2009 73
Table 59: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, F&D Reserves Additions per Net E&D Well Drilled, MMboe/Well 2005-2009 74
Table 60: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Developed Oil and Gas Reserves per well, Mboe/Well, 2005-2009 75
Table 61: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Revenue, $ Million, 2005-2009 76
Table 62: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Operating Income, $ Million, 2005-2009 77
Table 63: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Net Income/Loss, $ Million, 2005-2009 78
Table 64: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, EBITDA, $ Million, 2005-2009 79
Table 65: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Operating Cash Flow, $ Million, 2005-2009 80
Table 66: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Revenue Growth, 5-Year CAGR, %, 2005-2009 81
Table 67: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Profit Growth, 5-Year CAGR, %, 2005-2009 82
Table 68: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Debt leverage, %, 2005-2009 83
Table 69: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Total Debt/Proved Reserves , $/boe, 2005-2009 84
Table 70: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Market Capitalization, $ Million, 2005-2009 85
Table 71: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Enterprise Value, $ Million, 2005-2009 86
Table 72: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, EV/Proved Reserves,$/boe, 2005-2009 87
Table 73: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, EV/Per Daily BOE Produced,$/boe, 2005-2009 88
Figure 1: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Total Proved Oil and Gas Reserves, MMboe, 2009 12
Figure 2: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Finding and Development Reserves Additions, MMboe, 2009 14
Figure 3: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserves Replacement Additions(Excluding Sales), MMboe, 2009 15
Figure 4: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Finding Reserves Additions, MMboe, 2009 17
Figure 5: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Proved Oil Reserves, MMbbl, 2009 18
Figure 6: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Proved Gas Reserves, Bcf, 2009 19
Figure 7: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Proved Oil Reserves as a % of Total Oil and Gas Reserves, %, 2009 20
Figure 8: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Proved Gas Reserves as a % of Total Oil and Gas Reserves, %, 2009 21
Figure 9: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Total Oil and Gas Production, MMboe, 2009 22
Figure 10: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil Production, MMbbl, 2009 23
Figure 11: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Gas Production, Bcf, 2009 24
Figure 12: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserves Growth, 3-Year, CAGR, 2007-2009 25
Figure 13: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserves Growth, 5-Year, CAGR, 2005-2009 26
Figure 14: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserves Change, 2008-2009 27
Figure 15: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Production Growth, 3-Year, CAGR, 2007-2009 28
Figure 16: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Production Growth, 5-Year, CAGR, 2005-2009 29
Figure 17: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Production Change, 2008-2009 30
Figure 18: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserve/Oil and Gas Production Ratio, Years, 2009 31
Figure 19: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil Reserve/Oil Production Ratio, Years, 2009 32
Figure 20: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Gas Reserve/Gas Production Ratio, Years, 2009 33
Figure 21: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserves Replacement (Including Sales), Annual, %, 2009 35
Figure 22: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserve Replacement (Including Sales), 3-Year, %, 2009 36
Figure 23: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserve Replacement (Including Sales), 5-Year, %, 2009 37
Figure 24: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserve Replacement (Excluding Sales), Annual, %, 2009 38
Figure 25: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserve Replacement (Excluding Sales), 3-Year, %, 2009 39
Figure 26: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Reserve Replacement (Excluding Sales), 5-Year, %, 2009 40
Figure 27: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Total Costs Incurred, $ Million, 2009 42
Figure 28: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Total Acquisition Costs, $ Million, 2009 43
Figure 29: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Exploration Costs, $ Million, 2009 44
Figure 30: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Development Costs, $ Million, 2009 45
Figure 31: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Exploration and Development Cost, $ Million, 2009 46
Figure 32: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Exploration and Development Cost as a % of Total Cost Incurred, %, 2009 47
Figure 33: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Upstream Capex as a percentage of Cash Flow, %, 2009 48
Figure 34: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Finding and Development Costs, $ Million, 2009 50
Figure 35: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Reserve Replacement Cost Per Boe, Annual, $/boe, 2009 51
Figure 36: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, 3-Year Weighted Average Reserve Replacement Cost Per Boe, $/boe, 2009 53
Figure 37: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, 5-Year Weighted Average Oil and Gas Reserve Replacement Costs Per Boe, $/boe, 2009 54
Figure 38: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Finding and Development Cost Per Boe, Annual, $/boe, 2009 55
Figure 39: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, 3-Year Weighted Average Oil and Gas Finding and Development Cost Per Boe, $/boe, 2009 56
Figure 40: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, 5-Year Weighted Average Oil and Gas Finding and Development Cost Per Boe, $/boe, 2009 57
Figure 41: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Revenue From Upstream Oil and Gas Operations, $ Million, 2009 59
Figure 42: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Net Income/ Loss From Upstream Oil and Gas Operations, $ Million, 2009 61
Figure 43: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Free Cash Flow From Upstream Oil and Gas Operations, $ Million, 2009 62
Figure 44: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Oil and Gas Revenue per boe, $/BOE, 2009 63
Figure 45: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Net Income per boe, $/BOE, 2005-2009 64
Figure 46: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Cash Flow per boe, $/BOE, 2009 65
Figure 47: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Total DD&A per boe, $/BOE, 2009 66
Figure 48: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Lifting Cost per boe, $/BOE,2009 67
Figure 49: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Net-back per boe, $/BOE, 2009 68
Figure 50: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Total Net Undeveloped Acreage, (Thousand Acres), 2009 69
Figure 51: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Total Net Developed and Undeveloped Acreage, (Thousand Acres), 2009 71
Figure 52: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Total Net Developed Acreage, (Thousand Acres), 2009 72
Figure 53: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, F&D Cost per Drilled Well, $Million/Well, 2009 73
Figure 54: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, F&D Reserves Additions per Net E&D Well Drilled, MMboe/Well 2009 74
Figure 55: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Developed Oil and Gas Reserves per well, Mboe/Well, 2009 75
Figure 56: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Revenue, $ Million, 2009 76
Figure 57: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Operating Income, $ Million, 2009 77
Figure 58: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Net Income/Loss, $ Million, 2009 78
Figure 59: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, EBITDA, $ Million, 2009 79
Figure 60: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Operating Cash Flow, $ Million, 2009 80
Figure 61: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Revenue Growth, 5-Year CAGR, %, 2005-2009 81
Figure 62: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Profit Growth, 5-Year CAGR, %, 2005-2009 82
Figure 63: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Debt leverage, %, 2009 83
Figure 64: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Total Debt/Proved Reserves , $/boe, 2009 84
Figure 65: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Market Capitalization, $ Million, 2009 85
Figure 66: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, Enterprise Value, $ Million, 2009 86
Figure 67: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, EV/Proved Reserves,$/boe, 2009 87
Figure 68: Top 10 Large-Cap Canadian Independent Exploration and Production (E&P) Companies, EV/Per Daily BOE Produced,$/boe, 2009 88
Figure 69: GlobalData Methodology 89