Table of Contents
1 Table of Contents 2
1.1 List of Tables 8
1.2 List of Figures 10
2 US Gulf of Mexico Fiscal Regime 11
2.1 US Gulf of Mexico Petroleum
Fiscal Environment 11
2.2 License Terms 11
2.3 Key Fiscal Terms 12
2.4 Sample Cashflows Calculations 18
3 US Gulf of Mexico Exploration and
Production Sector 19
3.1 US Gulf of Mexico Exploration and Production
Sector, Natural Gas Assets Map 19
3.2 US Gulf of Mexico Exploration and
Production Sector, Marketed Natural Gas Production 20
3.2.1 US Gulf of
Mexico Exploration and Production Sector, Marketed Natural Gas-Historical
Production 20
3.2.2 US Gulf of Mexico Exploration and Production Sector,
Marketed Natural Gas Production by Assets 21
3.2.3 US Gulf of Mexico
Exploration and Production Sector, Marketed Equity Weighted Natural Gas
Production by Company 24
3.2.4 Gulf of Mexico Exploration and Production
Sector, Market Share (%) based on Marketed Natural Gas Production 26
3.3
US Gulf of Mexico Exploration and Production Sector, Marketed Natural Gas
Forecasts 27
3.3.1 US Gulf of Mexico Exploration and Production Sector,
Marketed Natural Gas Forecasted Production 27
3.4 US Gulf of Mexico
Exploration And Production Sector, Natural Gas Asset Details 30
3.4.1 US
Gulf of Mexico Exploration And Production Sector, Natural Gas Asset Details
30
3.4.2 US Gulf of Mexico Exploration And Production Sector, Planned
Natural Gas Asset Details 34
4 US Gulf of Mexico Pipeline Sector 38
4.1 US Gulf of Mexico Pipeline Sector, Key Data 38
4.2 US Gulf of Mexico
Pipeline Sector, An Overview 38
4.3 US Gulf of Mexico Pipeline Sector,
Natural Gas Pipelines 39
5 US Gulf of Mexico LNG Sector 42
5.1 US Gulf
of Mexico LNG Sector, Key Data 42
5.2 US Gulf of Mexico LNG Sector,
Regasification 42
5.2.1 US Gulf of Mexico LNG Sector, Regasification,
Total Regasification Capacity 42
5.2.2 US Gulf of Mexico LNG Sector,
Asset- Wise Regasification Capacity 44
6 Profile of BP p.l.c. 45
6.1
BP p.l.c., Key Information 45
6.2 BP p.l.c., Company Overview 45
6.3
BP p.l.c., Business Description 45
6.3.1 BP p.l.c., Business Description,
Business Overview 45
6.3.2 BP p.l.c., Business Description, Exploration
and Production 46
6.3.3 BP p.l.c., Business Description, Other Businesses
and Corporate Segment 47
6.3.4 BP p.l.c., Business Description, Refining
and Marketing 48
6.4 BP p.l.c., Value Chain Analysis 50
6.4.1 BP
p.l.c., Value Chain Analysis, Upstream 51
6.4.2 BP p.l.c., Value Chain
Analysis, Midstream 51
6.4.3 BP p.l.c., Value Chain Analysis, Downstream
52
6.4.4 BP p.l.c., Value Chain Analysis, Retail 52
6.5 BP p.l.c.,
SWOT Analysis 53
6.5.1 BP p.l.c., SWOT Analysis, Overview 53
6.5.2 BP
p.l.c., SWOT Analysis, Strengths 53
6.5.3 BP p.l.c., SWOT Analysis,
Weaknesses 54
6.5.4 BP p.l.c., SWOT Analysis, Opportunities 55
6.5.5
BP p.l.c., SWOT Analysis, Threats 55
6.6 BP p.l.c., Revenue Analysis
56
6.6.1 BP p.l.c., Revenue by Segment 56
6.6.2 BP p.l.c., Revenue by
Geography 57
6.7 BP p.l.c., Financial and Operational Review 58
6.7.1
Financial Statements 58
6.7.2 Financial Ratios 59
7 Profile of
ConocoPhillips 60
7.1 ConocoPhillips, Key Information 60
7.2
ConocoPhillips, Company Overview 60
7.3 ConocoPhillips, Business
Description 60
7.3.1 ConocoPhillips, Business Description, Business
Overview 60
7.3.2 ConocoPhillips, Business Description, Chemicals Segment
61
7.3.3 ConocoPhillips, Business Description, Emerging Businesses Segment
61
7.3.4 ConocoPhillips, Business Description, Exploration and Production
Segment 63
7.3.5 ConocoPhillips, Business Description, LUKOIL Investment
64
7.3.6 ConocoPhillips, Business Description, Midstream Segment 64
7.3.7 ConocoPhillips, Business Description, Refining, Marketing and
Transportation 65
7.4 ConocoPhillips, Value Chain Analysis 67
7.4.1
ConocoPhillips, Value Chain Analysis, Upstream 67
7.4.2 ConocoPhillips,
Value Chain Analysis, Midstream 68
7.4.3 ConocoPhillips, Value Chain
Analysis, Downstream 69
7.4.4 ConocoPhillips, Value Chain Analysis, Retail
69
7.5 ConocoPhillips, SWOT Analysis 70
7.5.1 ConocoPhillips, SWOT
Analysis, Overview 70
7.5.2 ConocoPhillips, SWOT Analysis, Strengths
71
7.5.3 ConocoPhillips, SWOT Analysis, Weaknesses 72
7.5.4
ConocoPhillips, SWOT Analysis, Opportunities 72
7.5.5 ConocoPhillips, SWOT
Analysis, Threats 73
7.6 ConocoPhillips, Revenue Analysis 74
7.7
ConocoPhillips, Revenue Analysis, Revenue by Segment 74
7.7.1
ConocoPhillips, Revenue Analysis, Revenue by Geography 75
7.8
ConocoPhillips, Financial and Operational Review 76
7.8.1 Financial
Statements 76
7.8.2 Financial Ratios 77
8 Profile of Exxon Mobil
Corporation 78
8.1 Exxon Mobil Corporation, Key Information 78
8.2
Exxon Mobil Corporation, Company Overview 78
8.3 Exxon Mobil Corporation,
Business Description 78
8.3.1 Exxon Mobil Corporation, Business
Description, Business Overview 78
8.3.2 Exxon Mobil Corporation, Business
Description, Chemical 78
8.3.3 Exxon Mobil Corporation, Business
Description, Downstream 80
8.3.4 Exxon Mobil Corporation, Business
Description, Upstream 81
8.4 Exxon Mobil Corporation, Value Chain Analysis
83
8.4.1 Exxon Mobil Corporation, Value Chain Analysis, Upstream 83
8.4.2 Exxon Mobil Corporation, Value Chain Analysis, Midstream 84
8.4.3
Exxon Mobil Corporation, Value Chain Analysis, Downstream 85
8.4.4 Exxon
Mobil Corporation, Value Chain Analysis, Retail 85
8.5 Exxon Mobil
Corporation, SWOT Analysis 85
8.5.1 Exxon Mobil Corporation, SWOT
Analysis, Overview 85
8.5.2 Exxon Mobil Corporation, SWOT Analysis,
Strengths 86
8.5.3 Exxon Mobil Corporation, SWOT Analysis, Weaknesses
88
8.5.4 Exxon Mobil Corporation, SWOT Analysis, Opportunities 89
8.5.5 Exxon Mobil Corporation, SWOT Analysis, Threats 90
8.6 Exxon Mobil
Corporation, Revenue Analysis 92
8.6.1 Exxon Mobil Corporation, Revenue by
Segment 92
8.6.2 Exxon Mobil Corporation, Revenue by Geography 92
8.7
Exxon Mobil Corporation, Financial and Operational Review 94
8.7.1
Financial Statements 94
8.7.2 Financial Ratios 95
9 Financial Deals
Landscape 96
9.1 Detailed Deal Summary 96
9.1.1 Acquisition 96
9.1.2 Private Equity 103
9.1.3 Equity Offerings 106
9.1.4 Debt
Offerings 113
9.1.5 Partnerships 120
9.1.6 Asset Transactions 122
10 Recent Developments 129
10.1 License Rounds 129
10.1.1 Jun 11,
2009: BLM Delays Oil, Gas Lease Sales In South County 129
10.2 License
Awards 130
10.2.1 Jun 16, 2009: Tricor Ten Section Files Application With
FERC For Gas Storage Facility In Kern County, California 130
10.2.2 Jun
11, 2009: ELK Petroleum Receives APD Approval For Grieve #39A Well In Wyoming
131
10.2.3 Jun 08, 2009: ATP Oil & Gas Wins Green Canyon Block 344 In
Central Gulf Of Mexico Offshore Lease Sale 208 131
10.3 Strategy and
Business Expansion 131
10.3.1 Jun 04, 2009: Valero Energy Suspends
Hydrocracker Project At Its Port Arthur Refinery In Texas 131
10.3.2 Jun
01, 2009: Kinder Morgan Energy Announces Open Season For Crude Oil Shipments
On Cochin Pipeline 132
10.3.3 Jun 01, 2009: Tricor Ten Section Announces
Non-Binding Open Season For Natural Gas Storage Facility In California 133
10.3.4 May 28, 2009: Cabot Oil & Gas Opens New Regional Office In Pittsburgh
133
10.4 Recent Discoveries 134
10.4.1 Jun 17, 2009: American Energy
Resources Strikes Oil At Bonita Springs 4A Well In Gove County, Kansas 134
10.4.2 Jun 09, 2009: Antares Energy Finds Gas At Frances Dilworth No. 2 Well
In McMullen County, Texas 135
10.4.3 Jun 04, 2009: KFG Resources Discovers
Oil At Fayette Field In Jefferson County, Mississippi 136
10.4.4 Jun 03,
2009: American Energy Resources Finds Oil Reserve In Lane County, Kansas
137
10.4.5 Jun 02, 2009: Stone Energy Announces Deepwater Discovery In
Pyrenees Prospect, Gulf Of Mexico 137
10.5 Drilling and Production Updates
138
10.5.1 Jun 16, 2009: American Petro-Hunter To Place #1 Lutters Well
Into Production 138
10.5.2 Jun 16, 2009: Daytona Energy' s Walker #1H Well
Flowing Gas To Sales 138
10.5.3 Jun 15, 2009: Golden Gate Petroleum
Updates On Jumonville #2 Bullseye Prospect In Iberville Parish, Louisiana
139
10.5.4 Jun 15, 2009: Pryme Oil and Gas Commences Production From
Crosby 16 No.1 Well In Four Rivers Project, Louisiana 140
10.5.5 Jun 15,
2009: Harvest Natural Resources Begins Drilling Operations At Bar F No.
1-20-3-2 Well In Antelope Project, Utah 141
10.6 Financial Announcements
141
10.6.1 Jun 15, 2009: Green Star Energies Posts $1.67 Million Net Gain
In Q1 2009 141
10.6.2 May 21, 2009: Beard Reports Net Loss Of $266,000 In
Q1 2009 142
10.6.3 May 20, 2009: PrimeEnergy Posts Net Loss Of $3.5
Million In Q1 2009 143
10.6.4 May 19, 2009: John D. Oil and Gas Posts
Revenue Of $1.4 Million In Q1 2009 143
10.6.5 May 18, 2009: Frontera
Resources Reports $7.9 Million Net Loss In Q1 2009 144
10.7 Other
Significant Developments 147
10.7.1 Jun 16, 2009: GMX Resources Provides
Operations Update 147
10.7.2 Jun 16, 2009: StatoilHydro Signs LNG Deal
With RasGas For Cove Point Terminal In US 148
10.7.3 Jun 16, 2009: Duke
Energy Appoints Lynn J. Good As Group Executive And CFO 148
10.7.4 Jun 16,
2009: Energy Partners Wins Court Approval For Its Disclosure Statement 149
10.7.5 Jun 15, 2009: Circumpacific Energy President Peter Simpson Resigns
150
10.8 New Contracts Announcements 150
10.8.1 Jun 16, 2009:
ForeRunner Wins Three Natural Gas Storage Projects In Western US 150
10.8.2 Jun 10, 2009: Clean Energy Wins Natural Gas Fuel Supply Contract From
City Of Phoenix Public Transit Department 150
11 Appendix 152
11.1
Methodology 152
11.1.1 Coverage 153
11.1.2 Secondary Research 154
11.1.3 Primary Research 154
11.1.4 E&P Forecasts 154
11.1.5 Midstream
Forecasts 156
11.1.6 Expert Panel Validation 156
11.2 Contact Us
156
11.3 About GlobalData 156
11.4 Disclaimer 157
1.1 List of
Tables
Table 1: US Gulf of Mexico, Crude Oil Royalty, Nov 1995 - Nov 2000
13
Table 2: US Gulf of Mexico, Crude Oil Royalty, Nov 2000 onwards 13
Table 3: US Gulf of Mexico, Royalty Suspension Volume, November 28, 1995 to
November 28, 2000 14
Table 4: US Gulf of Mexico, Royalty Suspension
Volume, November 2000 - March 2002 14
Table 5: US Gulf of Mexico, Royalty
Suspension Volume, March 2002-2005 15
Table 6: US Gulf of Mexico, Royalty
Suspension Volume, Post March 2005 15
Table 7: US Gulf of Mexico, Minimum
Bonus Bid, 2007 16
Table 8: US Gulf of Mexico, Minimum Annual Rental
Rates, 2007 16
Table 9: US Gulf of Mexico, MACRS Depreciation Factors - 7
year half year Convention, 2007 17
Table 10: US Gulf of Mexico, Total
Marketed Natural Gas Production (MMcf), 2001-2008 20
Table 11: US Gulf of
Mexico, Marketed Natural Gas Production (MMcf), by Major Assets, 2001-2008
21
Table 12: US Gulf of Mexico, Marketed Equity Weighted Natural Gas
Production (MMcf), by Major Companies, 2001-2008 24
Table 13: US Gulf of
Mexico, Market Share (%) based on Marketed Natural Gas Production, 2001-2008
26
Table 14: US Gulf of Mexico, Marketed Natural Gas Production(MMcf),
Forecast by Assets, 2009-2015 27
Table 15: US Gulf of Mexico, Marketed
Natural Gas Production(MMcf), Forecast by Assets, 2009-2015 (Contd.) 28
Table 16: US Gulf of Mexico, Marketed Natural Gas Production(MMcf), Forecast
by Assets, 2009-2015 (Contd.) 29
Table 17: US Gulf of Mexico, Major Gas
Field Assets Details 30
Table 18: US Gulf of Mexico, Planned Gas Field
Assets Details 34
Table 19: US Gulf of Mexico, Pipeline Key Statistics,
2008 38
Table 20: US Gulf of Mexico, Natural Gas Pipelines 39
Table
21: US Gulf of Mexico, Natural Gas Pipelines (Contd.) 40
Table 22: US Gulf
of Mexico, Natural Gas Pipelines (Contd.) 41
Table 23: US Gulf of Mexico,
LNG Key Statistics, 2008 42
Table 24: US Gulf of Mexico Total
Regasification Capacity (Bcf), 2000-2015 42
Table 25: US Gulf of Mexico
Regasification Capacity (Bcf), 2000-2015 44
Table 26: BP p.l.c., Key Facts
45
Table 27: BP p.l.c., SWOT Analysis 53
Table 28: BP p.l.c., Revenue
by Segment, USD Million, 2003-2007 57
Table 29: BP p.l.c., Revenue by
Geography, USD Million, 2003-2007 58
Table 30: BP p.l.c., Financial
Statements, USD Million, 2003-2007 58
Table 31: BP p.l.c., Financial
Ratios, USD Million, 2003-2007 59
Table 32: ConocoPhillips, Key Facts
60
Table 33: ConocoPhillips, SWOT Analysis 71
Table 34:
ConocoPhillips, Revenue by Segment, USD Million, 2003-2007 75
Table 35:
ConocoPhillips, Revenue by Geography, USD Million, 2003-2007 76
Table
36: ConocoPhillips, Financial Statements, USD Million, 2003-2007 76
Table 37: ConocoPhillips, Financial Ratios, USD Million, 2003-2007 77
Table 38: Exxon Mobil Corporation, Key Facts 78
Table 39: Exxon
Mobil Corporation, SWOT Analysis 86
Table 40: Exxon Mobil
Corporation, Revenue by Segment, USD Million, 2003-2007 92
Table 41:
Exxon Mobil Corporation, Revenue by Geography, USD Million, 2003-2007 93
Table 42: Exxon Mobil Corporation, Financial Statements, USD Million,
2003-2007 94
Table 43: Exxon Mobil Corporation, Financial Ratios, USD
Million, 2003-2007 95
Table 44: Forest Gate Resources Terminates
Acquisition Of 90% Stake In Atlantis Deepwater Production And Impact
Exploration & Production 96
Table 45: Ford Spoleti Holdings Acquires Eagle
Oil Holding 97
Table 46: Lighthouse Petroleum Acquires 20% Ownership Stake
In Williston Basin Acquisition 98
Table 47: Spectra Energy Partners
Acquires NOARK Pipeline System From Atlas Pipeline Partners 99
Table 48:
Doral Energy To Acquire Two Unnamed Permian Basin Oil And Gas Corporations
100
Table 49: AMG Oil To Acquire Adira Energy 101
Table 50: TEPPCO
Partners Rejects Bid From Enterprise Products Partners 102
Table 51: KKR
Invests $350 Million In East Resources 103
Table 52: U.S. Drilling Capital
Management To Invest In Development Drilling Activities Of SandRidge Energy
104
Table 53: MarkWest Energy To Acquire 50% Interest In Arkoma Connector
Pipeline 105
Table 54: EV Energy Partners Completes Public Offering Of
Common Units For $82.11 Million 106
Table 55: Whiting Petroleum Prices
Public Offering Of Convertible Perpetual Preferred Stock For $300 Million
108
Table 56: ONEOK Partners Prices Common Units Public Offering For
$229.05 Million 110
Table 57: FairWest Announces Private Placement Of
$1.77 Million 111
Table 58: Duncan Energy Partners Prices Public Offering
Of Common Units For $128 Million 112
Table 59: Quicksilver Resources
Announces Public Offering Of Senior Notes For $425 Million 113
Table 60:
South Texas Oil Issues 14% Secured Convertible Notes Due In 2011 For $0.56
Million 114
Table 61: Mariner Energy Issues 11.75% Senior Unsecured Notes
Offering For $300 Million 115
Table 62: Dominion Resources Completes 8.37%
Debenture Offering For $625 Million 116
Table 63: Anadarko Petroleum
Prices 5.75% Senior Notes Offering For $275 Million 117
Table 64: Anadarko
Petroleum Prices 6.95% Senior Notes Offering For $300 Million 118
Table
65: Western Refining Issues Senior Secured Floating Rate Notes For $275
Million 119
Table 66: EnerJex Resources Enters Into A Joint Venture With
Pharyn Resources 120
Table 67: Atlas Pipeline Partners Forms Joint Venture
With The Williams Companies 121
Table 68: Nighthawk Production And Running
Foxes Terminate The Sale Of 20% Interest In Jolly Ranch Project 122
Table
69: TransCanada Pipelines To Acquire Remaining Interest Of ConocoPhillips In
Keystone Pipeline 123
Table 70: Bill Barrett Acquires Piceance Basin
Acreage For $60 Million 124
Table 71: Precision Petroleum To Acquire 88%
Of Producing Well In Pottawatomie County, Oklahoma 125
Table 72: Miller
Petroleum Acquires 35,325 Shale Acres And 173 Wells In Tennessee 126
Table
73: BayHill Capital To Acquire Oil and Gas Properties For $23.54 Million
127
1.2 List of Figures
Figure 1: US Gulf Of Mexico, Upstream Oil
& Gas Fiscal Regime (Royalty/Tax), Sample Cashflows, 2005-2016 18
Figure
2: US Gulf of Mexico, Natural Gas Assets Map, 2008 19
Figure 3: US Gulf of
Mexico, Total Marketed Natural Gas Production (MMcf), 2001-2008 20
Figure
4: US Gulf of Mexico, Marketed Equity Weighted Natural Gas Production (MMcf),
by Major Companies, 2001-2008 25
Figure 5: US Gulf of Mexico, Market
Share (%) based on Marketed Natural Gas Production, 2008 26
Figure 6: US
Gulf of Mexico Regasification Capacity (Bcf), 2000-2015 43
Figure 7: BP
p.l.c., Value Chain Analysis 50
Figure 8: ConocoPhillips, Value Chain
Analysis 67
Figure 9: Exxon Mobil Corporation, Value Chain Analysis 83
Figure 10: GlobalData Methodology 153
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