Leading Oil & Gas National Oil Companies - Financial and Operational Fundamental Analysis and Benchmarking - 2010


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Leading Oil & Gas National Oil Companies: Financial & Operational Fundamental Analysis and Benchmarking 2010 is the latest report from GlobalData, the industry analysis specialists, that offers comprehensive information on the operational and financial performance of leading national oil companies. The report benchmarks and analyzes leading national oil 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.

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 change, production growth, reserves, reserve changes, reserve growth, capital expenditures, acreage, performance metrics, valuation 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 Leading National Oil Companies on operational and financial parameters. 
  • Companies covered include; ECOPETROL S.A., Statoil ASA, CNOOC Limited, Petroleo Brasileiro S.A., OJSC Rosneft Oil Company, PTT Exploration and Production PCL, Petroliam Nasional Berhad (PETRONAS), Staatsolie Maatschappij Suriname N.V., OAO Gazprom, China Petroleum & Chemical Corporation, Polskie Gornictwo Naftowe i Gazownictwo SA, Petroleos Mexicanos, JSC Exploration and Production KazMunaiGas, Japan Petroleum Exploration Co., Ltd. and PetroChina Company Limited.
  • The Leading Oil & Gas National Oil 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 leading national oil 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 4
1.2 List of Figures 6

2 The Gulf of Mexico Oils spill Impact on Oil and Gas Companies 8
2.1 Effect Of The Oil Spill On Offshore Exploration and Production in the US 9
2.2 The Oil Spill is Prompting Regulators across the World to Review Their Offshore Safety Regulations 9
2.3 The US Government Announced New Tax Laws on Oil Spills 9

3 Reserves and Production Analysis 10
3.1 Leading National Oil Companies, Oil and Gas Reserves Trend, 2005-2009 10
3.1.1 Total Proved Oil and Gas Reserves, 2005-2009 10
3.1.2 Oil and Gas Finding and Development Reserves Additions, 2005-2009 12
3.1.3 Oil and Gas Reserves Replacement Additions (Excluding Sales), 2005-2009 14
3.2 Oil and Gas Finding Reserves Additions, 2005-2009 16
3.2.1 Proved Oil Reserves Trend, 2005-2009 18
3.2.2 Proved Gas Reserves Trend, 2005-2009 20
3.2.3 Proved Oil Reserves as a % of Total Oil and Gas Reserves, 2005-2009 22
3.2.4 Proved Gas Reserves as a % of Total Oil and Gas Reserves, 2005-2009 24
3.3 Leading National Oil Companies, Oil and Gas Production Trend, 2005-2009 26
3.3.1 Oil and Gas Production Trend, 2005-2009 26
3.3.2 Oil Production Trend, 2005-2009 28
3.3.3 Gas Production Trend, 2005-2009 30
3.3.4 Oil as a % of Total Oil and Gas Production, 2005-2009 32
3.3.5 Gas as a % of Total Oil and Gas Production, 2005-2009 34
3.4 Leading National Oil Companies, Daily Oil and Gas Production Rate, 2005-2009 36
3.4.1 Daily Oil Production Rate, 2005-2009 36
3.4.2 Daily Gas Production Rate, 2005-2009 38
3.4.3 Daily Oil and Gas Production Rate, 2005-2009 40
3.5 Leading National Oil Companies, Reserves and Production Trend, 2005-2009 42
3.5.1 Oil and Gas Reserves Growth, 3 Year, CAGR, 2007-2009 42
3.5.2 Oil and Gas Reserves Growth, 5 year, CAGR, 2005-2009 44
3.5.3 Oil and Gas Reserves Change, 2008-2009 46
3.5.4 Oil and Gas Production Growth, 3 Year, CAGR, 2007-2009 47
3.5.5 Oil and Gas Production Growth, 5 Year, CAGR, 2005-2009 48
3.5.6 Oil and Gas Production Change, 2008-2009 49
3.6 Leading National Oil Companies, Reserves Life Ratio, 2005-2009 51
3.6.1 Oil and Gas Reserve/Oil and Gas Production Ratio, Years, 2005-2009 51
3.6.2 Oil Reserve/Oil Production Ratio, Years, 2005-2009 53
3.6.3 Gas Reserve/Gas Production Ratio, Years, 2005-2009 55

4 Reserve Replacement Ratio Analysis 57
4.1 Leading National Oil Companies, Oil and Gas Reserve Replacement (Including Sales), Annual %, 2005-2009 57
4.2 Leading National Oil Companies, Oil and Gas Reserve Replacement (Including Sales), 3-Year, %, 2005-2009 59
4.3 Leading National Oil Companies, Oil and Gas Reserve Replacement (Including Sales), 5-Year, %, 2005-2009 61
4.4 Leading National Oil Companies, Oil and Gas Reserve Replacement (Excluding Sales), Annual, %, 2005-2009 63
4.5 Leading National Oil Companies, Oil and Gas Reserve Replacement (Excluding Sales), 3-Year, %, 2005-2009 65
4.6 Leading National Oil Companies, Oil and Gas Reserve Replacement (Excluding Sales), 

5-Year, %, 2005-2009 67
5 Costs Incurred In Upstream Oil and Gas Operations 69
5.1 Leading National Oil Companies, Total Costs Incurred, 2005-2009 69
5.2 Leading National Oil Companies, E&P Upstream Capital Expenditure By Type, 2005-2009 71
5.2.1 Total Acquisition Costs, 2005-2009 71
5.2.2 Exploration Costs, 2005-2009 73
5.2.3 Development Costs, 2005-2009 75
5.2.4 Exploration and Development Costs, 2005-2009 77
5.2.5 Exploration and Development Cost as a % of Total Cost Incurred, 2005-2009 79
5.2.6 Upstream Capex as a % of Cash Flow, 2005-2009 81
5.2.7 Finding & Development Costs, 2005-2009 83
5.3 Leading National Oil Companies, Oil and Gas Costs Per Boe, $/boe, 2005-2009 85
5.3.1 Oil and Gas Reserve Replacement Costs Per Boe, Annual, $/boe, 2005-2009 85
5.3.2 Oil and Gas Reserve Replacement Cost Per Boe, 3-Year, $/boe, 2005-2009 87
5.3.3 Oil and Gas Reserve Replacement Cost Per Boe, 5-Year, $/boe 2005-2009 89
5.3.4 Oil and Gas Finding and Development Cost per Boe, Annual, $/boe, 2005-2009 91
5.3.5 Oil and Gas Finding and Development Cost Per Boe, 3-Year, $/boe, 2005-2009 93
5.3.6 Oil and Gas Finding and Development Cost Per Boe, 5-Year, $/boe, 2005-2009 95

6 Result of Oil and Gas Operations 97
6.1 Leading National Oil Companies, Oil and Gas Revenue, Cash Flow and Total Expenses, 2005-2009 97
6.1.1 Oil and Gas Revenue from Upstream Oil and Gas Operations, $m, 2005-2009 97
6.1.2 Net Income/ Loss from Upstream Oil and Gas Operations, $m, 2005-2009 99
6.1.3 Free Cash Flow from Upstream Oil and Gas Operations, $m, 2005-2009 101
6.2 Leading National Oil Companies, Performance Metrics, $/boe, 2005-2009 103
6.2.1 Oil and Gas Revenue per boe, $/boe, 2005-2009 103
6.2.2 Net Income per boe, $/boe, 2005-2009 105
6.2.3 Cash Flow per boe, $/boe, 2005-2009 107
6.2.4 Total Depreciation, Depletion & Amortization (DD&A) per boe, $/boe, 2005-2009 109
6.2.5 Lifting Cost per boe, $/boe, 2005-2009 111
6.2.6 Net-back per boe, $/boe, 2005-2009 113

7 Well Data Analysis 115
7.1 Leading National Oil Companies, Well Data, 2005-2009 115
7.1.1 F&D Cost per Drilled Well, 2005-2009 115
7.1.2 F&D Reserves Additions per Net E&D Well Drilled, 2005-2009 117
7.1.3 Developed Oil and Gas Reserves per well, 2005-2009 119
7.1.4 Developed Oil Reserves per well, 2005-2009 121
7.1.5 Developed Gas Reserves per well, 2005-2009 123

8 Financial Performance Analysis 125
8.1 Leading National Oil Companies, Revenue, $M, 2005-2009 125
8.2 Leading National Oil Companies, Operating Income, $ M, 2005-2009 127
8.3 Leading National Oil Companies, Net Income/Loss, $M, 2005-2009 129
8.4 Leading National Oil Companies, EBITDA, $M, 2005-2009 131
8.5 Leading National Oil Companies, Operating Cash Flow, $M, 2005-2009 133
8.6 Leading National Oil Companies, Growth Ratio, 2005-2009 135
8.6.1 Revenue Growth, 2005-2009 135
8.6.2 Operating Cash Flow Growth, 2005-2009 137
8.6.3 Profit Growth, 2005-2009 138
8.7 Leading National Oil Companies, Exposure Ratio, 2005-2009 139
8.7.1 Debt leverage, %, 2005-2009 139
8.7.2 Total Debt/Proved Reserves, $/boe, 2005-2009 141
8.8 Leading National Oil Companies, Valuation Metrics, 2005-2009 143
8.8.1 Market Capitalization, 2005-2009 143
8.8.2 Enterprise Value, 2005-2009 145
8.8.3 EV/EBITDA, (times), 2005-2009 147
8.8.4 EV/Proved Reserves, $/boe, 2005-2009 149

9 Appendix 151
9.1 Methodology 151
9.1.1 Coverage 151
9.1.2 Secondary Research 151
9.1.3 Primary Research 151
9.1.4 Expert Panel Validation 152
9.2 Definition 152
9.2.1 Oil and Gas Reserves 152
9.2.2 Acreage and Well Information 153
9.2.3 Cost Incurred in Oil and Gas Operations 153
9.2.4 Reserves Replacement Ratio 155
9.2.5 Results of Oil & Gas Operations 157
9.2.6 Results of Oil & Gas Operations per boe Produced 159
9.3 Contact Us 160
9.4 About GlobalData 160
9.5 Disclaimer 161

Table 1: The United States, offshore and Onshore, Proved Crude Oil, Condensate and Natural Gas Liquid Reserves, MMbbl, 2008 8
Table 2: The United States, offshore and Onshore, Proved Natural Gas Proved Reserves, Trillion Cubic Feet , 2008 9
Table 3: Leading National Oil Companies, Total Proved Oil and Gas Reserves, MMboe, 2005-2009 11
Table 4: Leading National Oil Companies, Oil and Gas Finding and Development Reserves Additions, MMboe, 2005-2009 13
Table 5: Leading National Oil Companies, Oil and Gas Reserves Replacement Additions(Excluding Sales), MMboe, 2005-2009 15
Table 6: Leading National Oil Companies, Oil and Gas Finding Reserves Additions, MMboe, 2005-2009 17
Table 7: Leading National Oil Companies, Proved Oil Reserves, MMbbl, 2005-2009 19
Table 8: Leading National Oil Companies, Proved Gas Reserves, Bcf, 2005-2009 21
Table 9: Leading National Oil Companies, Proved Oil Reserves as a % of Total Oil and Gas Reserves, %, 2005-2009 23
Table 10: Leading National Oil Companies, Proved Gas Reserves as a % of Total Oil and Gas Reserves, %, 2005-2009 25
Table 11: Leading National Oil Companies, Total Oil and Gas Production, MMboe, 2005-2009 27
Table 12: Leading National Oil Companies, Oil Production, MMbbl, 2005-2009 29
Table 13: Leading National Oil Companies, Gas Production, Bcf, 2005-2009 31
Table 14: Leading National Oil Companies, Oil as a % of Total Oil and Gas Production, %, 2005-2009 33
Table 15: Leading National Oil Companies, Gas as a % of Total Oil and Gas Production, %, 2005-2009 35
Table 16: Leading National Oil Companies, Daily Oil Production Rate, Mbbl/day, 2005-2009 37
Table 17: Leading National Oil Companies, Daily Gas Production Rate, MMcf/day, 2005-2009 39
Table 18: Leading National Oil Companies, Daily Oil and Gas Production Rate, Mboe/day, 2005-2009 41
Table 19: Leading National Oil Companies, Oil and Gas Reserves Growth, 3-Year, CAGR, 2007-2009 43
Table 20: Leading National Oil Companies, Oil and Gas Reserves Growth, 5-Year, CAGR, 2005-2009 45
Table 21: Leading National Oil Companies, Oil and Gas Reserves Change, 2008-2009 46
Table 22: Leading National Oil Companies, Oil and Gas Production Growth, 3-Year, CAGR, 2007-2009 47
Table 23: Leading National Oil Companies, Oil and Gas Production Growth, 5-Year, CAGR, 2005-2009 48
Table 24: Leading National Oil Companies, Oil and Gas Production Change, 2008-2009 50
Table 25: Leading National Oil Companies, Oil and Gas Reserve/Oil and Gas Production Ratio, Years, 2005-2009 52
Table 26: Leading National Oil Companies, Oil Reserve/Oil Production Ratio, Years, 2005-2009 54
Table 27: Leading National Oil Companies, Gas Reserve/Gas Production Ratio, Years, 2005-2009 56
Table 28: Leading National Oil Companies, Oil and Gas Reserves Replacement (Including Sales), Annual, %, 2005-2009 58
Table 29: Leading National Oil Companies, Oil and Gas Reserve Replacement (Including Sales), 3-Year, %, 2005-2009 60
Table 30: Leading National Oil Companies, Oil and Gas Reserve Replacement (Including Sales), 5-Year, %, 2005-2009 62
Table 31: Leading National Oil Companies, Oil and Gas Reserve Replacement (Excluding Sales), Annual, %, 2005-2009 64
Table 32: Leading National Oil Companies, Oil and Gas Reserve Replacement (Excluding Sales), 3-Year, %, 2005-2009 66
Table 33: Leading National Oil Companies, Oil and Gas Reserve Replacement (Excluding Sales), 5-Year, %, 2005-2009 68
Table 34: Leading National Oil Companies, Total Costs Incurred, $m, 2005-2009 70
Table 35: Leading National Oil Companies, Total Acquisition Costs, $m, 2005-2009 72
Table 36: Leading National Oil Companies, Exploration Costs, $m, 2005-2009 74
Table 37: Leading National Oil Companies, Development Costs, $m, 2005-2009 76
Table 38: Leading National Oil Companies, Exploration and Development Cost, $m, 2005-2009 78
Table 39: Leading National Oil Companies, Exploration and Development Cost as a % of Total Cost Incurred, %, 2005-2009 80
Table 40: Leading National Oil Companies, Upstream Capex as a percentage of Cash Flow, %, 2005-2009 82
Table 41: Leading National Oil Companies, Finding and Development Costs, $m, 2005-2009 84
Table 42: Leading National Oil Companies, Reserve Replacement Cost Per Boe, Annual, $/boe, 2005-2009 86
Table 43: Leading National Oil Companies, 3-Year Weighted Average Reserve Replacement Cost Per Boe, $/boe, 2005-2009 88
Table 44: Leading National Oil Companies, 5-Year Weighted Average Oil and Gas Reserve Replacement Costs Per Boe, $/boe, 2005-2009 90
Table 45: Leading National Oil Companies, Oil and Gas Finding and Development Cost Per Boe, Annual, $/boe, 2005-2009 92
Table 46: Leading National Oil Companies, 3-Year Weighted Average Oil and Gas Finding and Development Cost Per Boe, $/boe, 2005-2009 94
Table 47: Leading National Oil Companies, 5-Year Weighted Average Oil and Gas Finding and Development Cost Per Boe, $/boe, 2005-2009 96
Table 48: Leading National Oil Companies, Oil and Gas Revenue From Upstream Oil and Gas Operations, $m, 2005-2009 98
Table 49: Leading National Oil Companies, Net Income/ Loss From Upstream Oil and Gas Operations, $m, 2005-2009 100
Table 50: Leading National Oil Companies, Free Cash Flow From Upstream Oil and Gas Operations, $m, 2005-2009 102
Table 51: Leading National Oil Companies, Oil and Gas Revenue per boe, $/boe, 2005-2009 104
Table 52: Leading National Oil Companies, Net Income per boe, $/boe, 2005-2009 106
Table 53: Leading National Oil Companies, Cash Flow per boe, $/boe, 2005-2009 108
Table 54: Leading National Oil Companies, Total DD&A per boe, $/boe, 2005-2009 110
Table 55: Leading National Oil Companies, Lifting Cost per boe, $/boe,2005-2009 112
Table 56: Leading National Oil Companies, Net-back per boe, $/boe, 2005-2009 114
Table 57: Leading National Oil Companies, F&D Cost per Drilled Well, $m/Well, 2005-2009 116
Table 58: Leading National Oil Companies, F&D Reserves Additions per Net E&D Well Drilled, MMboe/Well 2005-2009 118
Table 59: Leading National Oil Companies, Developed Oil and Gas Reserves per well, Mboe/Well, 2005-2009 120
Table 60: Leading National Oil Companies, Developed Oil Reserves per well, Mbbl/Well, 2005-2009 122
Table 61: Leading National Oil Companies, Developed Gas Reserves per well, MMcf//Well, 2005-2009 124
Table 62: Leading National Oil Companies, Revenue, $m, 2005-2009 126
Table 63: Leading National Oil Companies, Operating Income, $m, 2005-2009 128
Table 64: Leading National Oil Companies, Net Income/Loss, $m, 2005-2009 130
Table 65: Leading National Oil Companies, EBITDA, $m, 2005-2009 132
Table 66: Leading National Oil Companies, Operating Cash Flow, $m, 2005-2009 134
Table 67: Leading National Oil Companies, Revenue Growth, CAGR, %, 2005-2009 136
Table 68: Leading National Oil Companies, Operating Cash Flow Growth, CAGR, %, 2005-2009 137
Table 69: Leading National Oil Companies, Profit Growth, CAGR, %, 2005-2009 138
Table 70: Leading National Oil Companies, Debt leverage, %, 2005-2009 140
Table 71: Leading National Oil Companies, Total Debt/Proved Reserves , $/boe, 2005-2009 142
Table 72: Leading National Oil Companies, Market Capitalization, $m, 2005-2009 144
Table 73: Leading National Oil Companies, Enterprise Value, $m, 2005-2009 146
Table 74: Leading National Oil Companies, EV/EBITDA (times), 2005-2009 148
Table 75: Leading National Oil Companies, EV/Proved Reserves,$/boe, 2005-2009 150
Figure 1: Leading National Oil Companies, Total Proved Oil and Gas Reserves, MMboe, 2009 10
Figure 2: Leading National Oil Companies, Oil and Gas Finding and Development Reserves Additions, MMboe, 2009 12
Figure 3: Leading National Oil Companies, Oil and Gas Reserves Replacement Additions(Excluding Sales), MMboe, 2009 14
Figure 4: Leading National Oil Companies, Oil and Gas Finding Reserves Additions, MMboe, 2009 16
Figure 5: Leading National Oil Companies, Proved Oil Reserves, MMbbl, 2009 18
Figure 6: Leading National Oil Companies, Proved Gas Reserves, Bcf, 2009 20
Figure 7: Leading National Oil Companies, Proved Oil Reserves as a % of Total Oil and Gas Reserves, %, 2009 22
Figure 8: Leading National Oil Companies, Proved Gas Reserves as a % of Total Oil and Gas Reserves, %, 2009 24
Figure 9: Leading National Oil Companies, Total Oil and Gas Production, MMboe, 2009 26
Figure 10: Leading National Oil Companies, Oil Production, MMbbl, 2009 28
Figure 11: Leading National Oil Companies, Gas Production, Bcf, 2009 30
Figure 12: Leading National Oil Companies, Oil as a % of Total Oil and Gas Production, %, 2009 32
Figure 13: Leading National Oil Companies, Gas as a % of Total Oil and Gas Production, %, 2009 34
Figure 14: Leading National Oil Companies, Daily Oil Production Rate, Mbbl/day, 2009 36
Figure 15: Leading National Oil Companies, Daily Gas Production Rate, MMcf/day, 2009 38
Figure 16: Leading National Oil Companies, Daily Oil and Gas Production Rate, Mboe/day, 2009 40
Figure 17: Leading National Oil Companies, Oil and Gas Reserves Growth, 3-Year, CAGR, 2007-2009 42
Figure 18: Leading National Oil Companies, Oil and Gas Reserves Growth, 5-Year, CAGR, 2005-2009 44
Figure 19: Leading National Oil Companies, Oil and Gas Reserves Change, 2008-2009 46
Figure 20: Leading National Oil Companies, Oil and Gas Production Growth, 3-Year, CAGR, 2007-2009 47
Figure 21: Leading National Oil Companies, Oil and Gas Production Growth, 5-Year, CAGR, 2005-2009 48
Figure 22: Leading National Oil Companies, Oil and Gas Production Change, 2008-2009 49
Figure 23: Leading National Oil Companies, Oil and Gas Reserve/Oil and Gas Production Ratio, Years, 2009 51
Figure 24: Leading National Oil Companies, Oil Reserve/Oil Production Ratio, Years, 2009 53
Figure 25: Leading National Oil Companies, Gas Reserve/Gas Production Ratio, Years, 2009 55
Figure 26: Leading National Oil Companies, Oil and Gas Reserves Replacement (Including Sales), Annual, %, 2009 57
Figure 27: Leading National Oil Companies, Oil and Gas Reserve Replacement (Including Sales), 3-Year, %, 2009 59
Figure 28: Leading National Oil Companies, Oil and Gas Reserve Replacement (Including Sales), 5-Year, %, 2009 61
Figure 29: Leading National Oil Companies, Oil and Gas Reserve Replacement (Excluding Sales), Annual, %, 2009 63
Figure 30: Leading National Oil Companies, Oil and Gas Reserve Replacement (Excluding Sales), 3-Year, %, 2009 65
Figure 31: Leading National Oil Companies, Oil and Gas Reserve Replacement (Excluding Sales), 5-Year, %, 2009 67
Figure 32: Leading National Oil Companies, Total Costs Incurred, $m, 2009 69
Figure 33: Leading National Oil Companies, Total Acquisition Costs, $m, 2009 71
Figure 34: Leading National Oil Companies, Exploration Costs, $m, 2009 73
Figure 35: Leading National Oil Companies, Development Costs, $m, 2009 75
Figure 36: Leading National Oil Companies, Exploration and Development Cost, $m, 2009 77
Figure 37: Leading National Oil Companies, Exploration and Development Cost as a % of Total Cost Incurred, %, 2009 79
Figure 38: Leading National Oil Companies, Upstream Capex as a percentage of Cash Flow, %, 2009 81
Figure 39: Leading National Oil Companies, Finding and Development Costs, $m, 2009 83
Figure 40: Leading National Oil Companies, Reserve Replacement Cost Per Boe, Annual, $/boe, 2009 85
Figure 41: Leading National Oil Companies, 3-Year Weighted Average Reserve Replacement Cost Per Boe, $/boe, 2009 87
Figure 42: Leading National Oil Companies, 5-Year Weighted Average Oil and Gas Reserve Replacement Costs Per Boe, $/boe, 2009 89
Figure 43: Leading National Oil Companies, Oil and Gas Finding and Development Cost Per Boe, Annual, $/boe, 2009 91
Figure 44: Leading National Oil Companies, 3-Year Weighted Average Oil and Gas Finding and Development Cost Per Boe, $/boe, 2009 93
Figure 45: Leading National Oil Companies, 5-Year Weighted Average Oil and Gas Finding and Development Cost Per Boe, $/boe, 2009 95
Figure 46: Leading National Oil Companies, Oil and Gas Revenue From Upstream Oil and Gas Operations, $m, 2009 97
Figure 47: Leading National Oil Companies, Net Income/ Loss From Upstream Oil and Gas Operations, $m, 2009 99
Figure 48: Leading National Oil Companies, Free Cash Flow From Upstream Oil and Gas Operations, $m, 2009 101
Figure 49: Leading National Oil Companies, Oil and Gas Revenue per boe, $/boe, 2009 103
Figure 50: Leading National Oil Companies, Net Income per boe, $/boe, 2009 105
Figure 51: Leading National Oil Companies, Cash Flow per boe, $/boe, 2009 107
Figure 52: Leading National Oil Companies, Total DD&A per boe, $/boe, 2009 109
Figure 53: Leading National Oil Companies, Lifting Cost per boe, $/boe,2009 111
Figure 54: Leading National Oil Companies, Net-back per boe, $/boe, 2009 113
Figure 55: Leading National Oil Companies, F&D Cost per Drilled Well, $m/Well, 2009 115
Figure 56: Leading National Oil Companies, F&D Reserves Additions per Net E&D Well Drilled, MMboe/Well 2009 117
Figure 57: Leading National Oil Companies, Developed Oil and Gas Reserves per well, Mboe/Well, 2009 119
Figure 58: Leading National Oil Companies, Developed Oil Reserves per well, Mbbl/Well, 2009 121
Figure 59: Leading National Oil Companies, Developed Gas Reserves per well, MMcf//Well, 2009 123
Figure 60: Leading National Oil Companies, Revenue, $m, 2009 125
Figure 61: Leading National Oil Companies, Operating Income, $m, 2009 127
Figure 62: Leading National Oil Companies, Net Income/Loss, $m, 2009 129
Figure 63: Leading National Oil Companies, EBITDA, $m, 2009 131
Figure 64: Leading National Oil Companies, Operating Cash Flow, $m, 2009 133
Figure 65: Leading National Oil Companies, Revenue Growth, CAGR, %, 2005-2009 135
Figure 66: Leading National Oil Companies, Operating Cash Flow Growth, CAGR, %, 2005-2009 137
Figure 67: Leading National Oil Companies, Profit Growth, CAGR, %, 2005-2009 138
Figure 68: Leading National Oil Companies, Debt leverage, %, 2009 139
Figure 69: Leading National Oil Companies, Total Debt/Proved Reserves , $/boe, 2009 141
Figure 70: Leading National Oil Companies, Market Capitalization, $m, 2009 143
Figure 71: Leading National Oil Companies, Enterprise Value, $m, 2009 145
Figure 72: Leading National Oil Companies, EV/EBITDA (times), 2009 147
Figure 73: Leading National Oil Companies, EV/Proved Reserves,$/boe, 2009 149