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Repsol YPF, S.A, Company Intelligence Report
GlobalData, January 2012, Pages: 129
Repsol YPF, S.A, Company Intelligence Report
Summary
Repsol YPF is an integrated energy company engaged in the exploration and production of crude oil and natural gas, refining and transportation, electricity generation, and operation of Liquefied Natural Gas (LNG) projects worldwide. It operates in more than 35 countries across the globe, including Canada, the US, Mexico, Argentina, Colombia, Spain, Algeria, Libya, Trinidad and Tobago, Venezuela, Brazil, Ecuador, Peru, and Russia. The company’s total production and reserves in 2010 were 313.2 MMboe and 2,015.2 MMboe respectively. Repsol acquired the remaining 85% stake in Argentinean government-controlled YPF in 1990, and became Spain’s largest industrial company. The company is headquartered in Spain, where it manages trading, legal, finance and other business functions.
Scope
- Key Highlights: This section provides detailed analysis on the company’s overall oil and gas value chain, new projects, growth opportunities, new ventures, assets performance, hedging strategies, Capex funding, geographical results of oil and gas operations.
- Goals and Strategies: This section provides the upcoming goals and strategies of the company. The section mainly goals and strategies followed by the company in order to meet its upcoming goals.
- SWOT: The report’s SWOT section provides the internal strength, weakness, opportunities and threats of company to reflect its strategic positions in the market.
- Production and Development Overview: This section highlights the company’s crude oil and natural gas production forecast from its legacy and upcoming assets by region and commodity mix for next five years. The report also covers the detailed information and analysis on the company’s producing and development assets.
- Exploration: This section includes detailed explanation and analysis on the company’s exploration assets resulted due to new discoveries, new drilling and other activities.
- M&A trends: This section mainly provides information and analysis on the company’s recent assets transactions, joint ventures, acquisition, and divestment activities during the last one year. This section highlights the company’s status as a buyer or seller during the analyzed period.
- Financial Forecast and Valuation: This section highlights the detailed financial statement forecast for next five years. With the financial statement forecast, this section also provides intrinsic value of the company by using Net Asset Valuation method.
- Peer Group Analysis: This section compares the company’s performance with its peer group on the basis of share prices, financial ratios, operational and financial parameters and other related parameters.
- Financial and Operational Metrics: This section covers the company’s historical performance on several financial and operational parameters such as Production and Reserves, Reserves Replacement, Costs Incurred, Acreage, Wells, F&D Costs, Oil and Gas Revenue and Expenses etc.
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.
Keywords
Valuation Report, NAV, Oil and gas valuation, Strategic Evaluation, Strategic and Operational Analysis, Forecasted financial Statements, SWOT, Capital expenditure, Market Scenario, Revenue, Financial Ratios, Production, Reserves, Peer Group Comparison, DCF, Outlook, Investment Thesis, Investment Summary, Repsol
1
1
1.1 List of Tables
1.2 List of Figures
2 Repsol YPF, S.A, Company Overview
3 Repsol YPF, S.A, Key Highlights
3.1 Repsol’s Largest Ever Oil Discovery; Expected to Strengthen Its Upstream Portfolio
3.2 Upcoming Major Projects will Supplement Long Term Growth Potential
3.2.1 Latin America
3.2.2 Africa
3.3 Organic Growth to be Fuelled by Large Prospect Inventory
4 Repsol YPF, S.A, SWOT Analysis
4.1 Strengths
4.1.1 Maximize Shareholder’s Value by Highly Balanced Upstream and Downstream Operations
4.1.2 Delivering Second Highest Three Year Average Returns for its Investors Compared to its Peers
4.2 Weaknesses
4.2.1 Consistent Decline in Production Volumes
4.2.2 Comparatively Lower Reserve Life Index
4.2.3 Relatively Lower Operational Matrix as Compared to Peer Group
4.3 Opportunities
4.3.1 New Discoveries in 2011
4.4 Threats
4.4.1 Political Instability in Libya and Argentina
5 Repsol YPF, S.A, Goals and Strategies
5.1 Strategic Target; Growth Plan for 2010–2014
5.1.1 Plans to Bring Upside in Upstream Portfolio
5.1.2 Seeking Opportunities to Strengthen Downstream Operations
5.1.3 Capturing Hidden Value from Its Affiliates; YPF
5.2 Focus on Developing Conventional and Synergizing Unconventional Resources
6 Repsol YPF, S.A, Production Overview
6.1 Production Profile
6.2 Assets Portfolio
6.2.1 Spain
6.2.2 Africa
6.2.3 Latin America
6.2.4 The US
7 Repsol YPF, S.A, Exploration and Development Overview
8 Repsol YPF, S.A, Refining & Marketing and Petrochemicals
9 Repsol YPF S.A, Capital Expenditure
9.1 Costs Incurred
10 Repsol YPF,S.A, M&A Highlights
10.1 PEMEX Increase Stake In Repsol
11 Repsol YPF, S.A., Forecast Production and Financial Statements
11.1 Income Statement (2008–2015)
11.2 Balance Sheet (2008–2015)
11.3 Cash Flow Statement (2008–2015)
11.4 Financial Ratios
12 Repsol YPF, S.A., Valuation
12.1 Net Asset Value
13 Repsol YPF, S.A, Peer Comparision
13.1 Share Price Performance
13.2 Operational and Financial Performance
13.3 Key Financial and Operational Ratio
14 Repsol YPF, S.A., Detailed Operational and Financial Metrics
14.1 Repsol YPF, S.A., Total Oil and Gas, Reserves and Production
14.1.1 Total Crude Oil and Natural Gas Production and Reserves Trend, 2006-2010
14.1.2 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2006-2010
14.1.3 Total Crude Oil and Natural Gas Reserve Changes, 2006-2010
14.2 Repsol YPF, S.A., Crude Oil/Liquids Production and Reserve
14.2.1 Crude Oil/Liquids Production and Reserve Trend, 2006-2010
14.2.2 Crude Oil Production and Reserves By Country/Region, 2006-2010
14.2.3 Crude Oil/Liquids Reserve Changes, 2006-2010
14.3 Repsol YPF, S.A., Natural Gas Production and Reserve
14.3.1 Natural Gas Production and Reserve Trend, 2006-2010
14.3.2 Natural Gas Production and Reserves, By Country/Region, 2006-2010
14.3.3 Natural Gas Reserve Changes, 2006-2010
14.4 Repsol YPF, S.A., Total Crude Oil and Natural Gas Reserves Life Index
14.4.1 Total Crude Oil and Natural Gas Reserves Life Index, 2006-2010
14.4.2 Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2006-2010
14.5 Repsol YPF, S.A., E&P Costs Trends
14.5.1 Upstream Capital Expenditure, 2006-2010
14.5.2 Acquisition Costs By Country/Region, 2006-2010
14.5.3 Exploration and Development Costs, By Country/Region, 2006-2010
14.6 Repsol YPF, S.A., Oil and Gas Cost Per boe, $/boe
14.6.1 Oil and Gas Cost Per boe, $/boe, 2006-2010
14.6.2 Oil and Gas Cost Per boe, $/boe, By Country/Region, 2006-2010
14.7 Repsol YPF, S.A., Reserve Replacement Ratio
14.7.1 Oil and Gas Production Replacement Ratio, 2006-2010
14.7.2 Oil and Gas Production Replacement Ratio, By Country/Region, 2006-2010
14.8 Repsol YPF, S.A., Results of Oil & Gas Operations Trend
14.8.1 Oil and Gas Revenue and Expenses, 2006-2010
14.8.2 Oil and Gas Revenue and Expenses, By Country/Region, 2006-2010
14.9 Repsol YPF, S.A., Oil and Gas Revenue and Expenses, Per boe
14.9.1 Oil and Gas Revenue and Expenses, By boe, 2006-2010
14.9.2 Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2006-2010
14.10 Repsol YPF, S.A., Oil and Gas Performance Metrics
14.11 Repsol YPF, S.A., Land Holdings and Well Data
14.11.1 Gross and Net Developed and Undeveloped Acreage, 2006-2010
14.11.2 Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2006-2010
14.12 Repsol YPF, S.A., Well Statistics
14.12.1 Producible Oil and Gas Well, 2006-2010
14.12.2 Producible Oil and Gas Well, By Country/Region, 2006-2010
14.12.3 Exploration and Development Wells Drilled, 2006-2010
14.12.4 Exploration and Development Wells Drilled, By Country/Region, 2006-2010
15 Appendix
15.1 Abbreviations
15.2 Methodology
15.2.1 Coverage
15.2.2 Secondary Research
15.2.3 Primary Research
15.3 Contact Us
15.4 Disclaimer
1.1 List of Tables
Table 1: Repsol YPF, S.A, Key Events, 2011
Table 2: Repsol YPF, S.A, Key Upcoming Projects, 2011
Table 3: Repsol YPF, S.A, Exploration Activities Summary, 2012
Table 4: Repsol YPF, S.A, New Growth Areas, 2011
Table 5: Repsol YPF, S.A, Downstream Updated Targets, 2011
Table 6: Repsol YPF, S.A, Upstream Growth Profile, MMboe, 2010–2015
Table 7: Repsol YPF, S.A, African Producing Assets Profile, 2010
Table 8: Repsol YPF, S.A, Latin America Producing Assets Profile, 2010
Table 9: Repsol YPF, S.A, Exploration Activity Summary, 2011–2012
Table 10: Repsol YPF, S.A, Projects in Developing Phase, 2011
Table 11: Repsol YPF, S.A, Distribution Channel for Refined Products, 2008–2010
Table 12: Repsol YPF, S.A, Chemical Production Capacity, 2010
Table 13: Repsol YPF, S.A, Capital Expenditure Classification, EUR million, 2008–2010
Table 14: Repsol YPF, S.A, Costs Incurred ($m), 2008–2010
Table 15: Repsol YPF, S.A, Reserve Replacement Ratio and Finding and Development
Table 16: Repsol YPF, S.A, Recent Transactions as a Buyer, 2010–2011
Table 17: Repsol YPF, S.A, Recent Transactions as a Seller, 2010–2011
Table 18: Repsol YPF, S.A., Historic and Forecast Production, 2008–2015
Table 19: GlobalData, Price Forecasts, 2011–2015
Table 20: Repsol YPF, S.A., Income Statement ($m), 2008–2015
Table 21: Repsol YPF, S.A., Balance Sheet ($m), 2008–2015
Table 22: Repsol YPF, S.A., Cash Flow Statement ($m), 2008–2015
Table 23: Repsol YPF, S.A., Profitability Ratios, 2008–2015
Table 24: Repsol YPF, S.A., Other Financial Ratios, 2008–2015
Table 25: Repsol YPF, S.A., Capital Market Ratios, 2009–2011
Table 26: Repsol YPF, S.A., Net Asset Value, 2011
Table 27: Repsol YPF, S.A., NPV of Oil/NGL Reserves, $/bbl, 2011
Table 28: Repsol YPF, S.A., NPV of Natural Gas Reserves, $/Mcf, 2011
Table 29: Repsol YPF, S.A., NPV OF Total Oil and Natural Gas Reserves , $/boe, 2011
Table 30: Repsol YPF, S.A., Sensitivity Analysis on Fair Value ($ per share), 2011
Table 31: Repsol YPF, S.A Vs. Peer Group, Operational and Financial Performance, 2010
Table 32: Repsol YPF, S.A and its Peer Group Comparison, Financial Ratios, 2010
Table 33: Repsol YPF, S.A., Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 2006-2010
Table 34: Repsol YPF, S.A., Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, MMboe, 2006-2010
Table 35: Repsol YPF, S.A., Total Crude Oil and Natural Gas Reserve Changes, MMboe, 2006-2010
Table 36: Repsol YPF, S.A., Crude Oil Production and Reserves Metrics, MMbbl, 2006-2010
Table 37: Repsol YPF, S.A., Crude Oil Production and Reserves, By Country/Region, MMbbl, 2006-2010
Table 38: Repsol YPF, S.A., Crude Oil Reserve Changes, MMbbl, 2006-2010
Table 39: Repsol YPF, S.A., Natural Gas Production and Reserves Metrics, Bcf, 2006-2010
Table 40: Repsol YPF, S.A., Natural Gas Production and Reserves, By Country/Region, Bcf, 2006-2010
Table 41: Repsol YPF, S.A., Natural Gas Reserve Changes, Bcf, 2006-2010
Table 42: Repsol YPF, S.A., Oil and Gas Reserves Life Index, Years, 2006-2010
Table 43: Repsol YPF, S.A., Oil and Gas Reserves Life Index, By Country/Region, Years, 2006-2010
Table 44: Repsol YPF, S.A., Upstream Capital Expenditure, $m, 2006-2010
Table 45: Repsol YPF, S.A., Proved and Unproved Acquisition Costs, By Country/Region, $m, 2006-2010
Table 46: Repsol YPF, S.A., Exploration and Development Costs, By Country/Region, $m, 2006-2010
Table 47: Repsol YPF, S.A., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, 2006-2010
Table 48: Repsol YPF, S.A., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, By Country/Region, 2006-2010
Table 49: Repsol YPF, S.A., Oil and Gas Production Replacement Ratio, %, 2006-2010
Table 50: Repsol YPF, S.A., 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2006-2010
Table 51: Repsol YPF, S.A., Revenue and Expenses, $m, 2006-2010
Table 52: Repsol YPF, S.A., Revenue and Expenses, By Country/Region, $m, 2006-2010
Table 53: Repsol YPF, S.A., Oil and Gas Revenue and Expenses, $/boe, 2006-2010
Table 54: Repsol YPF, S.A., Oil and Gas Revenue and Expenses, $/boe, By Country/Region, 2006-2010
Table 55: Repsol YPF, S.A., Oil and Gas Performance Metrics, 2006-2010
Table 56: Repsol YPF, S.A., Land Holdings (Developed and Undeveloped Acreage), Acres, 2006-2010
Table 57: Repsol YPF, S.A., Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2006-2010
Table 58: Repsol YPF, S.A., Producible Oil and Gas Wells, 2006-2010
Table 59: Repsol YPF, S.A., Producible Oil and Gas Wells, By Country/Region, 2006-2010
Table 60: Repsol YPF, S.A., Exploratory and Developed Wells, 2006-2010
Table 61: Repsol YPF, S.A., Exploratory and Developed Wells, By Country/Region, 2006-2010
1.2 List of Figures
Figure 1: Repsol YPF, S.A, Operational Map, 2011
Figure 2: Repsol YPF, S.A, Revenue and Operating Income by Segment, 2010
Figure 3: Repsol YPF, S.A, Financial and Operational Overview, 2007–2010
Figure 4: Repsol YPF, S.A, Share Price Movement, March 2011–January 2012
Figure 5: Repsol YPF S.A, Reserves Map (Loma la Lata area), 2010
Figure 6: Repsol YPF S.A, Total Oil and Gas Reserves, 2011
Figure 7: Repsol YPF S.A, Brazilian’s Upcoming Projects Contribution to the Company’s Total Production, MMboe, 2011–2015
Figure 8: Repsol YPF S.A, Africa’s Upcoming Projects Contribution to the Company Total Production, Bcf, 2011–2015
Figure 9: Repsol YPF, S.A, Production Contribution from Upcoming and Legacy Assets, MMboe, 2011–2015
Figure 10: Repsol YPF, S.A, Proved Undeveloped Reserves, MMboe, 2006-2010
Figure 11: Repsol YPF, S.A, Total Net Undeveloped Acreage, (Million Acres), 2006-2010
Figure 12: Repsol YPF and its Peers, Three Years Average Return (CAGR), 2008–2010
Figure 13: Repsol YPF, S.A, Production Volumes, MMboe, 2004–2010
Figure 14: Repsol YPF, S.A, Reserve Life Index In Comparison with Peer Group (Years), 2006–2010
Figure 15: Repsol YPF, S.A, Oil and Gas Finding Cost per boe, Three-Year Average, ($/boe), 2010
Figure 16: Repsol YPF, S.A, Oil and Gas Exploration Cost per boe, Three-Year Average, ($/boe), 2010
Figure 17: Repsol YPF, S.A, New Discovery in Argentina, 2010
Figure 18: Repsol YPF, S.A, Total Production by Type, MMboe, 2008–2015
Figure 19: Repsol YPF, S.A, Contribution of the Upcoming Asset to Total Production, MMboe, 2008–2015
Figure 20: Repsol YPF, S.A, Acreage Classification, 2010
Figure 21: Repsol YPF, S.A, Comparison of Exploration Cost and Reserve Addition, 2007–2010
Figure 22: Repsol YPF, S.A, Key Drivers for Refining and Marketing Segments, 2010
Figure 23: Repsol YPF, S.A, Petrochemicals Production Capacity and Revenue Classification, 2009–2010
Figure 24: Repsol YPF, S.A, Capital Expenditure Classification, EUR million, 2008–2010
Figure 25: Repsol YPF, S.A, Costs Incurred ($m), 2007–2010
Figure 26: Repsol YPF, S.A, Reserve Replacement Ratio and Finding and Development Cost, $m, 2008–2010
Figure 27: Repsol YPF, S.A and Peer Group, Relative Share Price Performance Index, February 2011–February 2012
Figure 28: Repsol YPF, S.A and its Peers, Per Boe Parameters, 2010
Figure 29: Repsol YPF, S.A and its Peers, Total Reserves & Production, MMboe, 2010
Figure 30: Repsol YPF, S.A and its Peers, Valuation Ratios, 2010
Figure 31: Repsol YPF, S.A., Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 2006-2010
Figure 32: Repsol YPF, S.A., Total Oil & Gas Reserves, End of Period, By Country/Region, MMboe, 2006-2010
Figure 33: Repsol YPF, S.A., Total Oil & Gas Production, By Country/Region, MMboe, 2006-2010
Figure 34: Repsol YPF, S.A., Total Crude Oil and Natural Gas Reserve Changes, MMboe, 2010
Figure 35: Repsol YPF, S.A., Crude Oil Production and Reserves Metrics, MMbbl, 2006-2010
Figure 36: Repsol YPF, S.A., Oil Reserves, End of Period, By Country/Region, MMbbl, 2006-2010
Figure 37: Repsol YPF, S.A., Oil Production, By Country/Region, MMbbl, 2006-2010
Figure 38: Repsol YPF, S.A., Crude Oil Reserve Changes, MMbbl, 2010
Figure 39: Repsol YPF, S.A., Natural Gas Production and Reserves Metrics, Bcf, 2006-2010
Figure 40: Repsol YPF, S.A., Gas Reserves, End of Period, By Country/Region, Bcf, 2006-2010
Figure 41: Repsol YPF, S.A., Gas Production, By Country/Region, Bcf, 2006-2010
Figure 42: Repsol YPF, S.A., Natural Gas Reserve Changes, Bcf, 2010
Figure 43: Repsol YPF, S.A., Oil and Gas Reserves Life Index, Years, 2006-2010
Figure 44: Repsol YPF, S.A., Gas Reserve Life Index, By Country/Region, Years, 2006-2010
Figure 45: Repsol YPF, S.A., Oil & Gas Reserve Life Index, By Country/Region, Years, 2006-2010
Figure 46: Repsol YPF, S.A., Oil Reserve Life Index, By Country/Region, Years, 2006-2010
Figure 47: Repsol YPF, S.A., Upstream Capital Expenditure, $m, 2006-2010
Figure 48: Repsol YPF, S.A., Proved Acquisition Costs, By Country/Region, $m, 2006-2010
Figure 49: Repsol YPF, S.A., Unproved Acquisition Costs, By Country/Region, $m, 2006-2010
Figure 50: Repsol YPF, S.A., Development Costs, By Country/Region, $m, 2006-2010
Figure 51: Repsol YPF, S.A., Exploration Costs, By Country/Region, $m, 2006-2010
Figure 52: Repsol YPF, S.A., 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, 2006-2010
Figure 53: Repsol YPF, S.A., Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, $/boe, 2006-2010
Figure 54: Repsol YPF, S.A., Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, $/boe, 2006-2010
Figure 55: Repsol YPF, S.A., Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, $/boe, 2006-2010
Figure 56: Repsol YPF, S.A., Proved Reserves Acquisition Cost per boe, 3-Year Average, By Country/Region, $/boe, 2006-2010
Figure 57: Repsol YPF, S.A., 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2006-2010
Figure 58: Repsol YPF, S.A., 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2006-2010
Figure 59: Repsol YPF, S.A., 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2006-2010
Figure 60: Repsol YPF, S.A., 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2006-2010
Figure 61: Repsol YPF, S.A., 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2006-2010
Figure 62: Repsol YPF, S.A., 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2006-2010
Figure 63: Repsol YPF, S.A., 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2006-2010
Figure 64: Repsol YPF, S.A., Revenue and Expenses, $m, 2006-2010
Figure 65: Repsol YPF, S.A., Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, $m, 2006-2010
Figure 66: Repsol YPF, S.A., Exploration Expenses, By Country/Region, $m, 2006-2010
Figure 67: Repsol YPF, S.A., Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, $m, 2006-2010
Figure 68: Repsol YPF, S.A., Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, $m, 2006-2010
Figure 69: Repsol YPF, S.A., Oil & Gas Revenue, By Country/Region, $m, 2006-2010
Figure 70: Repsol YPF, S.A., Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, $m, 2006-2010
Figure 71: Repsol YPF, S.A., Production Costs, By Country/Region, $m, 2006-2010
Figure 72: Repsol YPF, S.A., Total Expenses From Upstream Oil & Gas Operations, By Country/Region, $m, 2006-2010
Figure 73: Repsol YPF, S.A., Oil and Gas Revenue and Expenses, $/boe, 2006-2010
Figure 74: Repsol YPF, S.A., Exploration Expenses per boe, By Country/Region, $/boe, 2006-2010
Figure 75: Repsol YPF, S.A., Income Tax/(Benefit) per boe, By Country/Region, $/boe, 2006-2010
Figure 76: Repsol YPF, S.A., Lifting Cost per boe, By Country/Region, $/boe, 2006-2010
Figure 77: Repsol YPF, S.A., Annual Net Income per boe, By Country/Region, $/boe, 2006-2010
Figure 78: Repsol YPF, S.A., Oil & Gas Revenue per boe, By Country/Region, $/boe, 2006-2010
Figure 79: Repsol YPF, S.A., Total DD&A per boe, By Country/Region, $/boe, 2006-2010
Figure 80: Repsol YPF, S.A., Total Revenue per boe, By Country/Region, $/boe, 2006-2010
Figure 81: Repsol YPF, S.A., Oil and Gas Performance Metrics, 2006-2010
Figure 82: Repsol YPF, S.A., Land Holdings (Developed and Undeveloped Acreage), Acres, 2006-2010
Figure 83: Repsol YPF, S.A., Total Gross Undeveloped Acreage, By Country/Region, Acres, 2006-2010
Figure 84: Repsol YPF, S.A., Total Net Undeveloped Acreage, By Country/Region, Acres, 2006-2010
Figure 85: Repsol YPF, S.A., Total Gross Developed Acreage, By Country/Region, Acres, 2006-2010
Figure 86: Repsol YPF, S.A., Total Net Developed Acreage, By Country/Region, Acres, 2006-2010
Figure 87: Repsol YPF, S.A., Producible Oil and Gas Wells, 2006-2010
Figure 88: Repsol YPF, S.A., Gross Productive Gas Wells, By Country/Region, Number, 2006-2010
Figure 89: Repsol YPF, S.A., Gross Productive Oil & Gas Wells, By Country/Region, Number, 2006-2010
Figure 90: Repsol YPF, S.A., Gross Productive Oil Wells, By Country/Region, Number, 2006-2010
Figure 91: Repsol YPF, S.A., Net/Gross Oil & Gas Ratio, By Country/Region, %, 2006-2010
Figure 92: Repsol YPF, S.A., Net Productive Gas Wells, By Country/Region, Number, 2006-2010
Figure 93: Repsol YPF, S.A., Net Productive Oil & Gas Wells, By Country/Region, Number, 2006-2010
Figure 94: Repsol YPF, S.A., Net Productive Oil Wells, By Country/Region, Number, 2006-2010
Figure 95: Repsol YPF, S.A., Exploratory and Developed Wells, 2006-2010
Repsol’s Largest Ever Oil Discovery; Expected to Strengthen Its Upstream Portfolio
Repsol YPF’s production has been consistently declining since 2007, but the company has attempted to counteract this by beginning aggressive exploration activities, and consequently announced its largest ever oil discovery in southern Argentina in November 2011. The company encountered significant volumes of unconventional resources in the Loma la Lata area in Argentina, and holds rights to explore around 12,000 km2, of which 428 km2 is expected to hold 927 MMboe of reserves. The company has drilled a total of 15 vertical wells, which produced an initial 5,000 boe/d of high quality shale oil during 2011.
Following this discovery, Repsol YPF began exploratory and production activities in an area of 502 km2 in the same Vaca Muerta formation. The company expects a significant potential for large volumes from this new area to be developed in the future.
The discovery of resources in the Loma la Lata area also allowed Repsol YPF to focus its operational model towards unconventional resources. The company’s past operations were more focused towards conventional resource business, but with the addition of the significant reserve found in Argentina to its portfolio, Repsol YPF was able to strengthen its upstream operations.
As a result of this discovery, the company was also able to increase its reserve base in 2011. The above figure shows the impact of the discovery on Repsol YPF’s reserves. GlobalData expects that the recent discovery of unconventional resources will allow the company to expand its upstream business, and anticipates that this discovery will support the company’s upstream operations.
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