Celtic Exploration Ltd. Oil & Gas Exploration and Production Operations and Cost Analysis – Q4, 2011 by GlobalData

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									        Celtic Exploration Ltd. Oil & Gas Exploration and Production Operations
                              and Cost Analysis – Q4, 2011
        Reference Code: GDGE43417OAR                                                                                      Publication Date: APR 2012

        Company Snapshot                                                               Company Overview
        Key Information                                                                Celtic Exploration Ltd. (Celtic) is a Calgary based oil and gas
                                                                                       company. The company is engaged in the exploration,
         Celtic Exploration Ltd., Key Facts                                            development and production of oil and natural gas. Celtic
          Web Address                           www.celticex.com                       carries out its operations in Alberta, where it further divided
          Financial year-end                    December                               into four operating areas: Southern Alberta, East Central
          Number of Employees                   60                                     Alberta, Northern Alberta and West Central Alberta. In
                                                                                       Southern Alberta, it has operating assets in the Princess,
          TSE                                   CLT
                                                                                       Bantry, Michichi, Richdale and Drumheller areas.
          Source: GlobalData


         Key Ratios
           Celtic Exploration Ltd., Key Ratios                                            Celtic Exploration Ltd., Reserves and Production,
           P/E                                                                NA          2007-2011
           EV/EBITDA                                                       14.80
           Return on Equity (%)                                             -4.10
           Debt/Equity                                                     18.80
           Operating       profit   margin                                 -18.80
           (%)
           Dividend Yield                                                     0.0
           Note: Above ratios are based on share price as of 12-Apr-2012
                                                                                          Source: GlobalData
           Source: GlobalData



           Celtic Exploration Ltd., Share Price Performance,                             Celtic Exploration Ltd., Key Valuation Metrics,
           CAD/Share, Q4, 2010-Q4, 2011                                                  EV/Production ($/boed), EV/Proved Reserve ($/boe),
                                                                                         Q4, 2010-Q4, 2011




           Source: GlobalData
                                                                                         Source: GlobalData



             Celtic Exploration Ltd., Key Costs Per boe, $/boe,                          Celtic Exploration Ltd., Costs Incurred By Type, $m,
                                    2011                                                 2007-2011
          Parameter                                                          2011
          Oil & Gas Finding &                                                12.72
          Development Cost/boe, Annual
          Oil & Gas Finding Cost per boe,                                     0.88
          Annual
          Proved Reserves Acquisition                                        10.44
          Cost per boe, Annual
          Reserve Replacement Cost per                                       12.44
          boe, Annual
                                                                                         Source: GlobalData
         Source: GlobalData



Celtic Exploration Ltd. Operations & Cost Analysis                                                                           Reference Code: GDGE43417OAR
For Data Definitions Refer to the Appendix
Source: www.energyetrack.com                                                                                                                             Page 1
© GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form
       Table of Contents
       Table of Contents ............................................................................................................................................................................... 2
          List of Tables .................................................................................................................................................................................. 5
          List of Figures ................................................................................................................................................................................. 6
       Celtic Exploration Ltd., Valuation and Financial Data ......................................................................................................................... 8
          Celtic Exploration Ltd., Share Price Performance ........................................................................................................................... 8
             Share Price Performance, Q4, 2010-Q4, 2011 ........................................................................................................................... 8
          Celtic Exploration Ltd., Key Valuation Metrics ................................................................................................................................ 9
             Key Valuation Metrics, Q4, 2010-Q4, 2011 ................................................................................................................................. 9
          Celtic Exploration Ltd., Quarterly Results of Oil & Gas Operations Per boe Produced ................................................................. 10
             Results of Oil & Gas Operations Per boe Produced, Q4, 2010-Q4, 2011 ................................................................................. 10
             Results of Oil & Gas Operations Per boe Growth Rates, Q4, 2010-Q4, 2011........................................................................... 11
          Celtic Exploration Ltd., Quarterly E&P Costs Trends .................................................................................................................... 12
             Upstream Capital Expenditure, Q4, 2010-Q4, 2011 .................................................................................................................. 12
       Celtic Exploration Ltd., Quarterly Production Trends........................................................................................................................ 13
          Celtic Exploration Ltd., Total Oil and Gas Production ................................................................................................................... 13
             Total Crude Oil and Natural Gas Production Trend, Q4, 2010-Q4, 2011 .................................................................................. 13
             Total Crude Oil & Natural Gas Production, By Country/Region, Q4, 2010-Q4, 2011 ................................................................ 14
          Celtic Exploration Ltd., Crude Oil Production ................................................................................................................................ 15
             Total Crude Oil Production Trend, Q4, 2010-Q4, 2011 ............................................................................................................. 15
             Crude Oil Production, By Country/Region, Q4, 2010-Q4, 2011 ................................................................................................ 16
          Celtic Exploration Ltd., Natural Gas Production ............................................................................................................................ 17
             Total Natural Gas Production Trend, Q4, 2010-Q4, 2011 ......................................................................................................... 17
             Natural Gas Production, By Country/Region, Q4, 2010-Q4, 2011 ............................................................................................ 18
       Celtic Exploration Ltd., Valuation and Financial Data, 2007-2011 .................................................................................................... 19
          Celtic Exploration Ltd., Share Price Performance, 2007-2011 ...................................................................................................... 19
             Share Price Performance, 2007-2011 ....................................................................................................................................... 19
             Key Valuation Metrics, 2007-2011 ............................................................................................................................................ 20
       Celtic Exploration Ltd., Production and Reserves Trends ................................................................................................................ 21
          Total Oil and Gas, Reserves and Production ................................................................................................................................ 21
             Total Crude Oil and Natural Gas Production and Reserves Trend, 2007-2011......................................................................... 21
             Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2007-2011........................................................ 23
             Total Crude Oil and Natural Gas Reserve Changes, 2007-2011 .............................................................................................. 25
          Crude Oil/Liquids Production and Reserve ................................................................................................................................... 26
             Crude Oil/Liquids Production and Reserve Trend, 2007-2011 .................................................................................................. 26
             Crude Oil Production and Reserves By Country/Region, 2007-2011 ........................................................................................ 27
             Crude Oil/Liquids Reserve Changes, 2007-2011 ...................................................................................................................... 29
          Natural Gas Production and Reserve ........................................................................................................................................... 30
             Natural Gas Production and Reserve Trend, 2007-2011 .......................................................................................................... 30
             Natural Gas Production and Reserves, By Country/Region, 2007-2011 ................................................................................... 31
             Natural Gas Reserve Changes, 2007-2011 .............................................................................................................................. 33
          Total Crude Oil and Natural Gas Reserves Life Index .................................................................................................................. 34
             Total Crude Oil and Natural Gas Reserves Life Index, 2007-2011 ........................................................................................... 34
             Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2007-2011 ........................................................... 35
       Celtic Exploration Ltd., E&P Costs Trends ....................................................................................................................................... 37
          Allocation of the Upstream Capital Expenditure............................................................................................................................ 37
             Upstream Capital Expenditure, 2007-2011 ............................................................................................................................... 37

Celtic Exploration Ltd. Operations & Cost Analysis                                                                                                                    Reference Code: GDGE43417OAR
For Data Definitions Refer to the Appendix
Source: www.energyetrack.com                                                                                                                                                                                    Page 2
© GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form
             Acquisition Costs By Country/Region, 2007-2011..................................................................................................................... 38
             Exploration and Development Costs, By Country/Region, 2007-2011 ...................................................................................... 40
          Oil and Gas Cost Per boe, $/boe .................................................................................................................................................. 42
             Oil and Gas Cost Per boe, $/boe, 2007-2011 ........................................................................................................................... 42
             Oil and Gas Cost Per boe, $/boe, By Country/Region, 2007-2011 ........................................................................................... 44
       Celtic Exploration Ltd., Reserve Replacement Ratio ........................................................................................................................ 47
          Oil and Gas Production Replacement Ratio ................................................................................................................................. 47
             Oil and Gas Production Replacement Ratio, 2007-2011 ........................................................................................................... 47
             Oil and Gas Production Replacement Ratio, By Country/Region, 2007-2011 ........................................................................... 49
       Celtic Exploration Ltd., Results of Oil & Gas Operations Trend........................................................................................................ 53
          Oil and Gas Revenue and Expenses ............................................................................................................................................ 53
             Oil and Gas Revenue and Expenses, 2007-2011 ..................................................................................................................... 53
             Oil and Gas Revenue and Expenses, By Country/Region, 2007-2011 ..................................................................................... 54
          Oil and Gas Revenue and Expenses, Per boe ............................................................................................................................. 59
             Oil and Gas Revenue and Expenses, By boe, 2007-2011 ........................................................................................................ 59
             Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2007-2011 ........................................................................ 60
          Oil and Gas Performance Metrics ................................................................................................................................................. 64
       Celtic Exploration Ltd., Land Holdings and Well Data ...................................................................................................................... 65
          Developed and Un
								
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