El Paso Corporation, Company Intelligence Report


#42175

127pages

GlobalData

$ 1000

In Stock


El Paso Corporation (El Paso) is an energy company primarily operates in two segments comprising Exploration and Production (E&P) and Pipeline. El Paso’s E&P operations are primarily located in the US, Brazil and Egypt, whereas it has been providing pipeline services primarily to the US market. It also has pipeline infrastructure in Canada and Mexico. The figure below shows El Paso’s operations worldwide. During 2009, El Paso generated revenue of around $4.6 billion, representing 14% decline from 2008. The decline in revenue was primarily affected by the 34% decline in the E&P segment which was slightly offset by the 3% increase in pipeline segment revenue during 2009. The E&P segment revenue was accountable for around 39.5% of total El Paso’s revenue whereas the pipeline segment accountable for 59.7% of the total revenue during 2009. 


Scope
  • Investment Thesis: This section highlights the companies new ventures, liquidity issues, assets analysis, hedging, new projects details, capex funding, geographical results of oil and gas operations, and other related analysis.
  • Goals and Strategies: Provide highlights on their existing and upcoming challenges with the possible strategies.
  • SWOT: This section highlights the companies internal strength, weakness, opportunities and threats to better understand their position in the market
  • Production and Development profile: This section highlights the companies’ forecasted crude oil and natural gas production from their existing and upcoming assets. It also covers the detailed information and analysis on the producing and development assets.
  • Exploration and M&A trends: This section includes exploration assets information resulted due to new discoveries, new drilling and other activities. Additionally, M&A section highlights the companies’ recent assets transactions, joint ventures, acquisition, and divestment activities during the specified period.
  • Financial Forecast and Valuation: This section highlights the detailed financial forecast of the companies for coming five years. This section also provides intrinsic value of the companies’ by using different valuation techniques.
  • Peer Group: This section compares peer group performance with the main companies on the basis of share prices, financial ratios, operational and financial parameters and other related activities.
Reasons to buy

The report will enhance the decision-making capability in a more rapid and time sensitive manner. It will allow you to -
  • Provide detailed analysis to those who are interested in knowing the companies’ existing and future business strategies.
  • Provide in-depth analysis on the companies E&P profiles along with the exploration and M&A updates.
  • Provide valuable insights to those who are tracking oil and gas markets and wants to know the intrinsic value of the companies.
  • Use the analysis for strategy and planning, M&A identifications, and competitor analysis.
Table of Contents

1 Table of Contents 3

1.1 List of Tables 6
1.2 List of Figures 8

2 El Paso Corporation, Company Overview 10

2.1 Exploration and Production Segment 10
2.2 Pipeline Segment 11

3 El Paso Corporation, Key Events for 2011 18

4 El Paso Corporation, Key Highlights 19

4.1 Ruby Pipeline Project; A Win-Win Opportunity 19
4.2 El Pasos Unconventional Program to Build Long Term Drilling Inventory and Fuel its Production 21
4.2.1 Eagle Ford Shale 21
4.2.2 Haynesville Shale 22
4.2.3 Altamont
Table 1: El Paso Corporation, The US and International Operations, 2009 11
Table 2: El Paso Corporation, Existing Pipeline Operations, 2009 11
Table 3: El Paso Corporation, Expected Pipeline Operations, 2009 12
Table 4: El Paso Corporation, Key Events, January 2010January 2011 17
Table 5: El Paso Corporation, The Ruby Pipeline Projects Contracted Volume and Term, 2010 20
Table 6: El Paso Corporation, The Eagle Ford Shale Per Well Cost By Peers, 2010 21
Table 7: El Paso Corporation, The Haynesville Shale Per Well Cost By Peers, 2010 22
Table 8: El Paso Corporation, Master Limited Partnership Reduction Transactions, 20082010 23
Table 9: El Paso Corporation, Divestiture details, By Segment, $m, 2007 Q3 2010 28
Table 10: El Paso Corporation, Upstream Growth Profile, MMboe, 20102015 36
Table 11: El Paso Corporation, Existing Pipeline Operations, 2009 42
Table 12: El Paso Corporation, Expected Pipeline Operations, 2009 43
Table 13: El Paso Corporation, Recent Transactions as a Buyer, June 2009December 2010 45
Table 14: El Paso Corporation, Recent Transactions as a Seller, June 2009December 2010 45
Table 15: El Paso Corporation, Forecast Production, 20072015 46
Table 16: GlobalData, Price Forecasts, 20102014 46
Table 17: El Paso Corporation, Income Statement ($m), 20072015 48
Table 18: El Paso Corporation, Balance Sheet ($m), 20072015 48
Table 19: El Paso Corporation, Cash Flow Statement ($m), 20072015 50
Table 20: El Paso Corporation, Profitability Ratios, 20102015 51
Table 21: El Paso Corporation, Other Financial Ratios, 20102015 52
Table 22: El Paso Corporation, Capital Market Ratios, 20092011 52
Table 23: GlobalData, Price Forecast, 20112015 53
Table 24: El Paso Corporation, Net Asset Value, 2011 54
Table 25: El Paso Corporation, Prospective Acreage & Non Proven Reserves, 2011 54
Table 26: El Paso Corporation, NPV of Natural Gas Reserves, $/Mcf, 2011 55
Table 27: El Paso Corporation, NPV of Oil/NGL Reserves, $/bbl, 2011 55
Table 28: El Paso Corporation, NPV of Total Oil and Natural Gas Reserves, $/boe, 2011 55
Table 29: El Paso Corporation, Sensitivity Analysis on Fair Value ($/share), 2011 56
Table 30: El Paso Corporation Vs. Peer Group, Operational and Financial Performance, 2009 58
Table 31: El Paso Corporation and its Peer Group Comparison, Financial Ratios, 2009 60
Table 32: El Paso Corporation, Upstream Capital Expenditure, Q4, 2009-Q4, 2010 62
Table 33: El Paso Corporation, Total Crude Oil and Natural Gas, Production, Q4, 2009-Q4, 2010 63
Table 34: El Paso Corporation, Total Oil & Gas Production, By Country/Region, MMboe, Q4, 2009-Q4, 2010 64
Table 35: El Paso Corporation, Total Crude Oil Production, MMbbl, Q4, 2009-Q4, 2010 65
Table 36: El Paso Corporation, Crude Oil Production, By Country/Region, MMbbl, Q4, 2009-Q4, 2010 66
Table 37: El Paso Corporation, Total Natural Gas Production, Bcf, Q4, 2009-Q4, 2010 67
Table 38: El Paso Corporation, Natural Gas Production, By Country/Region, Bcf, Q4, 2009-Q4, 2010 68
Table 39: El Paso Corporation, Share Price Performance, 2004-2009 69
Table 40: El Paso Corporation, Key Valuation Metrics, 2004-2009 70
Table 41: El Paso Corporation, Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 2004-2009 72
Table 42: El Paso Corporation, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, MMboe, 2004-2009 74
Table 43: El Paso Corporation, Total Crude Oil and Natural Gas Reserve Changes, MMboe, 2004-2009 75
Table 44: El Paso Corporation, Crude Oil Production and Reserves Metrics, MMbbl, 2004-2009 76
Table 45: El Paso Corporation, Crude Oil Production and Reserves, By Country/Region, MMbbl, 2004-2009 78
Table 46: El Paso Corporation, Crude Oil Reserve Changes, MMbbl, 2004-2009 79
Table 47: El Paso Corporation, Natural Gas Production and Reserves Metrics, Bcf, 2004-2009 80
Table 48: El Paso Corporation, Natural Gas Production and Reserves, By Country/Region, Bcf, 2004-2009 82
Table 49: El Paso Corporation, Natural Gas Reserve Changes, Bcf, 2004-2009 83
Table 50: El Paso Corporation, Oil and Gas Reserves Life Index, Years, 2004-2009 84
Table 51: El Paso Corporation, Oil and Gas Reserves Life Index, By Country/Region, Years, 2004-2009 86
Table 52: El Paso Corporation, Upstream Capital Expenditure, $m, 2004-2009 87
Table 53: El Paso Corporation, Proved and Unproved Acquisition Costs, By Country/Region, $m, 2004-2009 89
Table 54: El Paso Corporation, Exploration and Development Costs, By Country/Region, $m, 2004-2009 91
Table 55: El Paso Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, 2004-2009 93
Table 56: El Paso Corporation, Revenue and Expenses, $m, 2004-2009 94
Table 57: El Paso Corporation, Revenue and Expenses, By Country/Region, $m, 2004-2009 99
Table 58: El Paso Corporation, Oil and Gas Revenue and Expenses, $/boe, 2004-2009 101
Table 59: El Paso Corporation, Oil and Gas Revenue and Expenses, $/boe, By Country/Region, 2004-2009 105
Table 60: El Paso Corporation, Oil and Gas Performance Metrics, 2004-2009 106
Table 61: El Paso Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2004-2009 107
Table 62: El Paso Corporation, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2004-2009 110
Table 63: El Paso Corporation, Producible Oil and Gas Wells, 2004-2009 111
Table 64: El Paso Corporation, Producible Oil and Gas Wells, By Country/Region, 2004-2009 116
Table 65: El Paso Corporation, Exploratory and Developed Wells, 2004-2009 118
Table 66: El Paso Corporation, Exploratory and Developed Wells, By Country/Region, 2004-2009 119
Table 67: El Paso Corporation, Developed Reserves per Well, Oil (Mbbls per Well), Gas (MMcf per Well), Oil & Gas (Mboe per Well), 2004-2009 121
Table 68: El Paso Corporation, Developed Reserves per Well, By Country/Region, Mboe per Well, 2004-2009 123
Figure 1: El Paso Corporation, Operational Map, 2011 10
Figure 2: El Paso Corporation, Performance Charts, 20062009 14
Figure 3: El Paso Corporation, Share Price Performance, January 2010 February 2011 16
Figure 4: El Paso Corporation, The Ruby Pipeline Project, 2011 19
Figure 5: El Paso Corporation, Reserve-Production Ratio Comparison With its Peers, Years, 20052009 25
Figure 6: El Paso Corporation, Debt-Equity and Debt-Capital Ratios Comparison With its Peers Average, 20052009 26
Figure 7: El Paso Corporation, Total Production From Upstream Assets, MMboe, 20072015 30
Figure 8: El Paso Corporation, Production Mix, MMboe, 20072015 31
Figure 9: El Paso Corporation, The US Operations, 2011 31
Figure 10: El Paso Corporation, The US, Central Division Production, MMboe, 20072015 32
Figure 11: El Paso Corporation, Western Division Production, The US, MMboe, 20072015 33
Figure 12: El Paso Corporation, Gulf Coast Division Production, The US, MMboe, 20072015 34
Figure 13: El Paso Corporation, Brazil Division Production, International, MMboe, 20072015 35
Figure 14: El Paso Corporation, Cost Incurred, $m, 20052009 37
Figure 15: El Paso Corporation, Reserve Replacement and Finding and Development Cost, 20052009 38
Figure 16: El Paso Corporation and its Peers, Total Net Developed and Undeveloped Acreage, Million Acres, 2009 38
Figure 17: El Paso Corporation, Development and Exploration Cost, $m, 20052009 39
Figure 18: El Paso Corporation and its Peers, Relative Share Price Performance Index, February 20102011 57
Figure 19: El Paso Corporation, Operational and Financial Parameters, $/boe, 2009 59
Figure 20: El Paso Corporation, Total Reserves and Production, MMboe, 2009 59
Figure 21: El Paso Corporation and Peer Group Comparison, Valuation Ratio, 2009 61
Figure 22: El Paso Corporation, Upstream Capital Expenditure, $m, Q4, 2009-Q4, 2010 62
Figure 23: El Paso Corporation, Total Crude Oil and Natural Gas, Production, MMboe, Q4, 2009-Q4, 2010 63
Figure 24: El Paso Corporation, Total Oil & Gas Production, By Country/Region, MMboe, Q4, 2009-Q4, 2010 64
Figure 25: El Paso Corporation, Total Crude Oil Production, MMbbl, Q4, 2009-Q4, 2010 65
Figure 26: El Paso Corporation, Crude Oil Production, By Country/Region, MMbbl, Q4, 2009-Q4, 2010 66
Figure 27: El Paso Corporation, Total Natural Gas Production, Bcf, Q4, 2009-Q4, 2010 67
Figure 28: El Paso Corporation, Natural Gas Production, By Country/Region, Bcf, Q4, 2009-Q4, 2010 68
Figure 29: El Paso Corporation, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), 2004-2009 70
Figure 30: El Paso Corporation, Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 2004-2009 71
Figure 31: El Paso Corporation, Total Proved Oil & Gas Reserves, By Country/Region, MMboe, 2004-2009 73
Figure 32: El Paso Corporation, Total Oil & Gas Production, By Country/Region, MMboe, 2004-2009 73
Figure 33: El Paso Corporation, Total Crude Oil and Natural Gas Reserve Changes, MMboe, 2009 75
Figure 34: El Paso Corporation, Crude Oil Production and Reserves Metrics, MMbbl, 2004-2009 76
Figure 35: El Paso Corporation, Total Proved Oil Reserves, By Country/Region, MMbbl, 2004-2009 77
Figure 36: El Paso Corporation, Oil Production, By Country/Region, MMbbl, 2004-2009 77
Figure 37: El Paso Corporation, Crude Oil Reserve Changes, MMbbl, 2009 79
Figure 38: El Paso Corporation, Natural Gas Production and Reserves Metrics, Bcf, 2004-2009 80
Figure 39: El Paso Corporation, Total Proved Gas Reserves, By Country/Region, Bcf, 2004-2009 81
Figure 40: El Paso Corporation, Gas Production, By Country/Region, Bcf, 2004-2009 81
Figure 41: El Paso Corporation, Natural Gas Reserve Changes, Bcf, 2009 83
Figure 42: El Paso Corporation, Oil and Gas Reserves Life Index, Years, 2004-2009 84
Figure 43: El Paso Corporation, Gas Reserve Life Index, By Country/Region, Years, 2004-2009 85
Figure 44: El Paso Corporation, Oil & Gas Reserve Life Index, By Country/Region, Years, 2004-2009 85
Figure 45: El Paso Corporation, Oil Reserve Life Index, By Country/Region, Years, 2004-2009 86
Figure 46: El Paso Corporation, Upstream Capital Expenditure, $m, 2004-2009 87
Figure 47: El Paso Corporation, Proved Acquisition Costs, By Country/Region, $m, 2004-2009 88
Figure 48: El Paso Corporation, Unproved Acquisition Costs, By Country/Region, $m, 2004-2009 88
Figure 49: El Paso Corporation, Development Costs, By Country/Region, $m, 2004-2009 90
Figure 50: El Paso Corporation, Exploration Costs, By Country/Region, $m, 2004-2009 90
Figure 51: El Paso Corporation, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, 2004-2009 92
Figure 52: El Paso Corporation, Revenue and Expenses, $m, 2004-2009 94
Figure 53: El Paso Corporation, Depreciation, Depletion & Amortization , By Country/Region, $m, 2004-2009 95
Figure 54: El Paso Corporation, Income Tax/(Benefit), By Country/Region, $m, 2004-2009 95
Figure 55: El Paso Corporation, Net Income/ Loss, By Country/Region, $m, 2004-2009 96
Figure 56: El Paso Corporation, Oil & Gas Revenue, By Country/Region, $m, 2004-2009 96
Figure 57: El Paso Corporation, Pre-tax Profit, By Country/Region, $m, 2004-2009 97
Figure 58: El Paso Corporation, Production Expenses, By Country/Region, $m, 2004-2009 97
Figure 59: El Paso Corporation, Total Expenses, By Country/Region, $m, 2004-2009 98
Figure 60: El Paso Corporation, Oil and Gas Revenue and Expenses, $/boe, 2004-2009 101
Figure 61: El Paso Corporation, Income Tax/(Benefit) per boe, By Country/Region, $/boe, 2004-2009 102
Figure 62: El Paso Corporation, Lifting Cost per boe, By Country/Region, $/boe, 2004-2009 102
Figure 63: El Paso Corporation, Annual Net Income per boe, By Country/Region, $/boe, 2004-2009 103
Figure 64: El Paso Corporation, Oil & Gas Revenue per boe, By Country/Region, $/boe, 2004-2009 103
Figure 65: El Paso Corporation, Total DD&A per boe, By Country/Region, $/boe, 2004-2009 104
Figure 66: El Paso Corporation, Total Revenue per boe, By Country/Region, $/boe, 2004-2009 104
Figure 67: El Paso Corporation, Oil and Gas Performance Metrics, 2004-2009 106
Figure 68: El Paso Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2004-2009 107
Figure 69: El Paso Corporation, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2004-2009 108
Figure 70: El Paso Corporation, Total Net Undeveloped Acreage, By Country/Region, Acres, 2004-2009 108
Figure 71: El Paso Corporation, Total Gross Developed Acreage, By Country/Region, Acres, 2004-2009 109
Figure 72: El Paso Corporation, Total Net Developed Acreage, By Country/Region, Acres, 2004-2009 109
Figure 73: El Paso Corporation, Producible Oil and Gas Wells, 2004-2009 111
Figure 74: El Paso Corporation, Gross Producible Gas Wells, By Country/Region, Number, 2004-2009 112
Figure 75: El Paso Corporation, Gross Producible Oil & Gas Wells, By Country/Region, Number, 2004-2009 112
Figure 76: El Paso Corporation, Gross Producible Oil Wells, By Country/Region, Number, 2004-2009 113
Figure 77: El Paso Corporation, Net Oil & Gas Wells as % of Gross Oil & Gas Wells, By Country/Region, %, 2004-2009 113
Figure 78: El Paso Corporation, Net Producible Gas Wells, By Country/Region, Number, 2004-2009 114
Figure 79: El Paso Corporation, Net Producible Oil & Gas Wells, By Country/Region, Number, 2004-2009 114
Figure 80: El Paso Corporation, Net Producible Oil Wells, By Country/Region, Number, 2004-2009 115
Figure 81: El Paso Corporation, Exploratory and Developed Wells, 2004-2009 117
Figure 82: El Paso Corporation, Developed Gas Reserves per Well (MMcf per Well), By Country/Region, 2004-2009 122
Figure 83: El Paso Corporation, Developed Oil & Gas Reserves per Well (Mboe per Well), By Country/Region, 2004-2009 122
Figure 84: El Paso Corporation, Developed Oil Reserves per Well (Mbbls per Well), By Country/Region, 2004-2009 123