PTT Public Co Ltd Oil & Gas Exploration and Production Operations and Cost Analysis - Q3, 2017

PTT Public Co Ltd Oil & Gas Exploration and Production Operations and Cost Analysis - Q3, 2017


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Executive Summary

PTT Public Co Ltd Oil & Gas Exploration and Production Operations and Cost Analysis-Q3, 2017

Summary

PTT Public Co Ltd (PTT) is a state-owned integrated national oil and gas, and petrochemical company. It operates in oil and natural gas, coal, power, and infrastructure businesses. The company carries out oil and natural gas exploration and production; oil refining; procurement, processing, transmission, distribution and marketing of natural gas; petrochemical production; storage and distribution of petroleum products. PTT also conducts oil marketing and international trading. The company has interests in refineries, oil and gas terminals and gas separation plants. It distributes and markets petroleum products through a network of service stations and commercial market. PTT is headquartered in Chatuchak, Bangkok, Thailand.

PTT Public Co Ltd Oil & Gas Exploration and Production Operations and Cost Analysis is the latest report from GlobalData, the industry analysis specialists, that offers comprehensive information on the operational and financial performance of the company. The report is an essential source for key operational metrics, analysis and provides a strategic insight into the company. The report provides an annual and quarterly overview of oil and gas reserves and production, changes in reserves, costs incurred and results of oil and gas operations, acreage and well details, share price performance and key 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 the following-

- The report provides detailed and unique insight information on the key operational metrics. It gives a comprehensive overview of oil and gas production and reserves, costs incurred and results of oil and gas operations, acreage and well details and other performance metrics.

- Provides details with respect to the company's oil and gas reserves and production information by country. It further consists of in-depth information on the company's expenditures in relation to the acquisition, exploration and development activities; developed and undeveloped acreage position; key costs and revenue information; and performance metrics of the company as disclosed in its annual reports and regulatory filings.

- Provides a comprehensive overview of the company's share price performance and key valuation metrics such as market capitalization, enterprise value, EV/Production (USD boe/d) and EV/Proved Reserve (USD /boe)

- Provides information on key operational and financial metrics on an annual and quarterly basis. The annual information provided is for a five-year period and the quarterly information is for the last five quarters.

Note:

1. The scope mentioned above is generic and may not apply to all the companies. The report is based on the information disclosed by the companies in their annual and quarterly reports, regulatory filings and other company documents and sources.

2. Quarterly information is provided only for the companies that are December ending and files quarter reports and documents.

3. There can be cases where countries/regions data column/Charts will be blank. This can be due to the fact that the company might have discontinued the reporting of those countries/regions. Information that is not disclosed by the company may not be available in the report.

Reasons to buy

The report will enhance your decision making capability in a more rapid and time sensitive manner. It will allow you to-

- Be up-to-date with the latest information and in-depth analysis of the operational metrics of the company.

- Identify M&A targets from up-to-date information and in-depth analysis on financial and operational metrics of your competitors.

- Rank your performance against other companies in the exploration and production (E&P) sector using operational and financial benchmarking metrics.

- Formulate your strategies based on in-depth analysis of your competitors' financial and operational data.

- Exploit the strengths and weakness of your closest competitors by comparing and analyzing their financial and operational metrics.

- Establish relative performance among the industry's players based on key operational and financial measures.



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Table of Contents

Table of Contents 2

List of Tables 4

List of Figures 5

Company Snapshot 7

Key Information 7

Company Overview 7

PTT Public Co Ltd, Valuation and Financial Data 8

PTT Public Co Ltd, Share Price Performance 8

Share Price Performance, Q3, 2016-Q3, 2017 8

PTT Public Co Ltd, Key Valuation Metrics 9

Key Valuation Metrics, Q3, 2016-Q3, 2017 9

PTT Public Co Ltd, Quarterly Results of Oil & Gas Operations Per boe Produced 10

Results of Oil & Gas Operations Per boe Produced, Q3, 2016-Q3, 2017 10

Results of Oil & Gas Operations Per boe Growth Rates, Q3, 2016-Q3, 2017 11

PTT Public Co Ltd, Quarterly E&P Costs Trends 12

Upstream Capital Expenditure, Q3, 2016-Q3, 2017 12

PTT Public Co Ltd, Quarterly Production Trends 13

PTT Public Co Ltd, Total Oil and Gas Production 13

Total Crude Oil and Natural Gas Production Trend, Q3, 2016-Q3, 2017 13

Total Crude Oil & Natural Gas Production, By Country/Region, Q3, 2016-Q3, 2017 15

PTT Public Co Ltd, Crude Oil Production 16

Total Crude Oil Production Trend, Q3, 2016-Q3, 2017 16

PTT Public Co Ltd, Natural Gas Production 17

Total Natural Gas Production Trend, Q3, 2016-Q3, 2017 17

PTT Public Co Ltd, Valuation and Financial Data, 2013-2017 18

PTT Public Co Ltd, Share Price Performance, 2013-2017 18

Share Price Performance, 2013-2017 18

Key Valuation Metrics, 2013-2017 19

PTT Public Co Ltd, Production and Reserves Trends 20

Total Oil and Gas, Reserves and Production 20

Total Crude Oil and Natural Gas Production and Reserves Trend, 2013-2017 20

Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2013-2017 22

Total Crude Oil and Natural Gas Reserve Changes, 2013-2017 24

Crude Oil/Liquids Production and Reserve 25

Crude Oil/Liquids Production and Reserve Trend, 2013-2017 25

Crude Oil Production and Reserves By Country/Region, 2013-2017 26

Crude Oil/Liquids Reserve Changes, 2013-2017 27

Natural Gas Production and Reserve 28

Natural Gas Production and Reserve Trend, 2013-2017 28

Natural Gas Production and Reserves, By Country/Region, 2013-2017 29

Natural Gas Reserve Changes, 2013-2017 30

Total Crude Oil and Natural Gas Reserves Life Index 31

Total Crude Oil and Natural Gas Reserves Life Index, 2013-2017 31

Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2013-2017 32

PTT Public Co Ltd, E&P Costs Trends 34

Allocation of the Upstream Capital Expenditure 34

Upstream Capital Expenditure, 2013-2017 34

Exploration and Development Costs, By Country/Region, 2013-2017 37

Oil and Gas Cost Per boe, USD /boe 39

Oil and Gas Cost Per boe, USD /boe, 2013-2017 39

Oil and Gas Cost Per boe, USD /boe, By Country/Region, 2013-2017 41

PTT Public Co Ltd, Reserve Replacement Ratio 44

Oil and Gas Production Replacement Ratio 44

Oil and Gas Production Replacement Ratio, 2013-2017 44

Oil and Gas Production Replacement Ratio, By Country/Region, 2013-2017 47

PTT Public Co Ltd, Results of Oil & Gas Operations Trend 51

Oil and Gas Revenue and Expenses 51

Oil and Gas Revenue and Expenses, 2013-2017 51

Oil and Gas Revenue and Expenses, By Country/Region, 2013-2017 53

Oil and Gas Revenue and Expenses, Per boe 59

Oil and Gas Revenue and Expenses, By boe, 2013-2017 59

Oil and Gas Performance Metrics 64

Well Statistics 65

Producible Oil and Gas Well, 2013-2017 65

Producible Oil and Gas Well, By Country/Region, 2013-2017 66

Exploration and Development Wells Drilled, 2013-2017 71

Exploration and Development Wells Drilled, By Country/Region, 2013-2017 73

Recent Developments 75

PTT Public Co Ltd-Recent Developments 75

Jul 03, 2018: Retirement Of Director Due To Completion Of Sixty Five Years Of Age And Appointment Of New Director 75

Jun 18, 2018: PTT: Notification Of Year 2018 Investment Plan Revision 75

Jun 07, 2018: Saipem: New Onshore E&C Contract For Construction Of Nong Fab Regasification Plant In Thailand For Value Of Approximately 500 Million Usd 75

May 18, 2018: PTT Public Company Announces Appointment Of Director And Appointment Of Member Of Remuneration Committee 76

May 10, 2018: Submission of PTT Public And Its Subsidiaries'' Financial Statements For 3-Month Period Ended March 31, 2018 And Operating Results 76

Feb 22, 2018: Gazprom Neft Increases Wing-Tip Sales Of Aviation Fuel By 19 Percent Year-On-Year 77

Aug 16, 2017: Samsung Engineering Receives Two Contracts Worth USD 500 Million USD From Thailand PTT Subsidiaries 77

Aug 12, 2017: Qatargas Delivers First Q-Max Cargo To Thailand Under Long Term Sale And Purchase Agreement 78

Aug 10, 2017: CPP: Longest HDD Crossing In Pulled-Back Successfully In Thailand 78

Aug 04, 2017: Rosneft Oil Provides Operating Results For Q2 And H1 2017 79

Appendix 83

Methodology 83

Coverage 83

Secondary Research 83

Primary Research 84

Data Information Sources 84

Company Source 84

SEC/Other Regulatory Filings 84

Other Sources 84

Expert Panel Validation 84

Data Definition 84

Oil and Gas Reserves 84

Units of Measure 85

About GlobalData 86

Disclosure 86

Disclaimer 86

List of Figures

Figure 1: PTT Public Co Ltd, Share Price Performance, THB/Share, Q3, 2016-Q3, 2017 8

Figure 2: PTT Public Co Ltd, Key Valuation Metrics, EV/Production (USD /boed), EV/Proved Reserve (USD /boe), Q3, 2016-Q3, 2017 9

Figure 3: PTT Public Co Ltd, Results of Oil & Gas Operations Per boe Produced, USD /boe, Q3, 2016-Q3, 2017 10

Figure 4: PTT Public Co Ltd, Upstream Capital Expenditure, USD mil, Q3, 2016-Q3, 2017 12

Figure 5: PTT Public Co Ltd, Total Crude Oil and Natural Gas, Production, mmboe, Q3, 2016-Q3, 2017 13

Figure 6: PTT Public Co Ltd, Total Oil & Gas Production, By Country/Region, mmboe, Q3, 2016-Q3, 2017 15

Figure 7: PTT Public Co Ltd, Total Crude Oil Production, mmbbl, Q3, 2016-Q3, 2017 16

Figure 8: PTT Public Co Ltd, Total Natural Gas Production, bcf, Q3, 2016-Q3, 2017 17

Figure 9: PTT Public Co Ltd, Share Price Performance, THB/Share, 2013-2017 18

Figure 10: PTT Public Co Ltd, Key Valuation Metrics, EV/Production (USD /boed), EV/Proved Reserve (USD /boe), 2013-2017 19

Figure 11: PTT Public Co Ltd, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2013-2017 20

Figure 12: PTT Public Co Ltd, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2013-2017 22

Figure 13: PTT Public Co Ltd, Total Oil & Gas Production, By Country/Region, mmboe, 2013-2017 22

Figure 14: PTT Public Co Ltd, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2017 24

Figure 15: PTT Public Co Ltd, Crude Oil Production and Reserves Metrics, mmbbl, 2013-2017 25

Figure 16: PTT Public Co Ltd, Oil Reserves, End of Period, By Country/Region, mmbbl, 2013-2017 26

Figure 17: PTT Public Co Ltd, Crude Oil Reserve Changes, mmbbl, 2017 27

Figure 18: PTT Public Co Ltd, Natural Gas Production and Reserves Metrics, bcf, 2013-2017 28

Figure 19: PTT Public Co Ltd, Gas Reserves, End of Period, By Country/Region, bcf, 2013-2017 29

Figure 20: PTT Public Co Ltd, Natural Gas Reserve Changes, bcf, 2017 30

Figure 21: PTT Public Co Ltd, Oil and Gas Reserves Life Index, Years, 2013-2017 31

Figure 22: PTT Public Co Ltd, Gas Reserve Life Index, By Country/Region, Ratio, 2013-2017 32

Figure 23: PTT Public Co Ltd, Oil & Gas Reserve Life Index, By Country/Region, Ratio, 2013-2017 32

Figure 24: PTT Public Co Ltd, Oil Reserve Life Index, By Country/Region, Ratio, 2013-2017 33

Figure 25: PTT Public Co Ltd, Upstream Capital Expenditure, USD mil, 2013-2017 34

Figure 27: PTT Public Co Ltd, Unproved Acquisition Costs, By Country/Region, USD mil, 2013-2017 36

Figure 28: PTT Public Co Ltd, Development Costs, By Country/Region, USD mil, 2013-2017 37

Figure 29: PTT Public Co Ltd, Exploration Costs, By Country/Region, USD mil, 2013-2017 37

Figure 30: PTT Public Co Ltd, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, USD /boe, 2013-2017 39

Figure 31: PTT Public Co Ltd, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, USD /boe, 2013-2017 41

Figure 32: PTT Public Co Ltd, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, USD /boe, 2013-2017 41

Figure 33: PTT Public Co Ltd, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, USD /boe, 2013-2017 42

Figure 34: PTT Public Co Ltd, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2013-2017 44

Figure 35: PTT Public Co Ltd, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2013-2017 47

Figure 36: PTT Public Co Ltd, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2013-2017 47

Figure 37: PTT Public Co Ltd, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2013-2017 48

Figure 38: PTT Public Co Ltd, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2013-2017 48

Figure 39: PTT Public Co Ltd, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2013-2017 49

Figure 40: PTT Public Co Ltd, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2013-2017 49

Figure 41: PTT Public Co Ltd, Revenue and Expenses, USD mil, 2013-2017 51

Figure 42: PTT Public Co Ltd, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, USD mil, 2013-2017 53

Figure 43: PTT Public Co Ltd, Exploration Expenses, By Country/Region, USD mil, 2013-2017 53

Figure 44: PTT Public Co Ltd, Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, USD mil, 2013-2017 54

Figure 45: PTT Public Co Ltd, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, USD mil, 2013-2017 54

Figure 46: PTT Public Co Ltd, Oil & Gas Revenue, By Country/Region, USD mil, 2013-2017 55

Figure 47: PTT Public Co Ltd, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, USD mil, 2013-2017 55

Figure 48: PTT Public Co Ltd, Production Costs, By Country/Region, USD mil, 2013-2017 56

Figure 49: PTT Public Co Ltd, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, USD mil, 2013-2017 56

Figure 50: PTT Public Co Ltd, Oil and Gas Revenue and Expenses, USD /boe, 2013-2017 59

Figure 52: PTT Public Co Ltd, Income Tax/(Benefit) per boe, By Country/Region, USD /boe, 2013-2017 60

Figure 53: PTT Public Co Ltd, Lifting Cost per boe, By Country/Region, USD /boe, 2013-2017 60

Figure 54: PTT Public Co Ltd, Annual Net Income per boe, By Country/Region, USD /boe, 2013-2017 61

Figure 55: PTT Public Co Ltd, Oil & Gas Revenue per boe, By Country/Region, USD /boe, 2013-2017 61

Figure 56: PTT Public Co Ltd, Total DD&A per boe, By Country/Region, USD /boe, 2013-2017 62

Figure 57: PTT Public Co Ltd, Total Revenue per boe, By Country/Region, USD /boe, 2013-2017 62

Figure 58: PTT Public Co Ltd, Oil and Gas Performance Metrics, 2013-2017 64

Figure 59: PTT Public Co Ltd, Producible Oil and Gas Wells, 2013-2017 65

Figure 60: PTT Public Co Ltd, Gross Productive Gas Wells, By Country/Region, Number, 2013-2017 66

Figure 61: PTT Public Co Ltd, Gross Productive Oil & Gas Wells, By Country/Region, Number, 2013-2017 66

Figure 62: PTT Public Co Ltd, Gross Productive Oil Wells, By Country/Region, Number, 2013-2017 67

Figure 63: PTT Public Co Ltd, Net/Gross Oil & Gas Ratio, By Country/Region, %, 2013-2017 67

Figure 64: PTT Public Co Ltd, Net Productive Gas Wells, By Country/Region, Number, 2013-2017 68

Figure 65: PTT Public Co Ltd, Net Productive Oil & Gas Wells, By Country/Region, Number, 2013-2017 68

Figure 66: PTT Public Co Ltd, Net Productive Oil Wells, By Country/Region, Number, 2013-2017 69

Figure 67: PTT Public Co Ltd, Exploratory and Developed Wells, 2013-2017 71

List of Tables

Table 1: PTT Public Co Ltd, Key Facts 7

Table 2: PTT Public Co Ltd, Share Price Performance, Q3, 2016-Q3, 2017 8

Table 3: PTT Public Co Ltd, Key Valuation Metrics, Q3, 2016-Q3, 2017 9

Table 4: PTT Public Co Ltd, Results of Oil & Gas Operations Per boe Produced, USD /boe, Q3, 2016-Q3, 2017 10

Table 5: PTT Public Co Ltd, Results of Oil & Gas Operations Per boe Growth Rates, %, Q3, 2016-Q3, 2017 11

Table 6: PTT Public Co Ltd, Upstream Capital Expenditure, Q3, 2016-Q3, 2017 12

Table 7: PTT Public Co Ltd, Total Crude Oil and Natural Gas, Production, Q3, 2016-Q3, 2017 14

Table 8: PTT Public Co Ltd, Total Oil & Gas Production, By Country/Region, mmboe, Q3, 2016-Q3, 2017 15

Table 9: PTT Public Co Ltd, Total Crude Oil Production, mmbbl, Q3, 2016-Q3, 2017 16

Table 10: PTT Public Co Ltd, Total Natural Gas Production, bcf, Q3, 2016-Q3, 2017 17

Table 11: PTT Public Co Ltd, Share Price Performance, 2013-2017 18

Table 12: PTT Public Co Ltd, Key Valuation Metrics, 2013-2017 19

Table 13: PTT Public Co Ltd, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2013-2017 21

Table 14: PTT Public Co Ltd, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2013-2017 23

Table 15: PTT Public Co Ltd, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2013-2017 24

Table 16: PTT Public Co Ltd, Crude Oil Production and Reserves Metrics, mmbbl, 2013-2017 25

Table 17: PTT Public Co Ltd, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2013-2017 26

Table 18: PTT Public Co Ltd, Crude Oil Reserve Changes, mmbbl, 2013-2017 27

Table 19: PTT Public Co Ltd, Natural Gas Production and Reserves Metrics, bcf, 2013-2017 28

Table 20: PTT Public Co Ltd, Natural Gas Production and Reserves, By Country/Region, bcf, 2013-2017 29

Table 21: PTT Public Co Ltd, Natural Gas Reserve Changes, bcf, 2013-2017 30

Table 22: PTT Public Co Ltd, Oil and Gas Reserves Life Index, Years, 2013-2017 31

Table 23: PTT Public Co Ltd, Oil and Gas Reserves Life Index, By Country/Region, Years, 2013-2017 33

Table 24: PTT Public Co Ltd, Upstream Capital Expenditure, USD mil, 2013-2017 35

Table 25: PTT Public Co Ltd, Proved and Unproved Acquisition Costs, By Country/Region, USD mil, 2013-2017 36

Table 26: PTT Public Co Ltd, Exploration and Development Costs, By Country/Region, USD mil, 2013-2017 38

Table 27: PTT Public Co Ltd, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, USD /boe, 2013-2017 40

Table 28: PTT Public Co Ltd, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, USD /boe, By Country/Region, 2013-2017 43

Table 29: PTT Public Co Ltd, Oil and Gas Production Replacement Ratio, %, 2013-2017 45

Table 30: PTT Public Co Ltd, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2013-2017 50

Table 31: PTT Public Co Ltd, Revenue and Expenses, USD mil, 2013-2017 52

Table 32: PTT Public Co Ltd, Revenue and Expenses, By Country/Region, USD mil, 2013-2017 57

Table 33: PTT Public Co Ltd, Oil and Gas Revenue and Expenses, USD /boe, 2013-2017 59

Table 34: PTT Public Co Ltd, Oil and Gas Revenue and Expenses, USD /boe, By Country/Region, 2013-2017 63

Table 35: PTT Public Co Ltd, Oil and Gas Performance Metrics, 2013-2017 64

Table 36: PTT Public Co Ltd, Producible Oil and Gas Wells, 2013-2017 65

Table 37: PTT Public Co Ltd, Producible Oil and Gas Wells, By Country/Region, 2013-2017 69

Table 38: PTT Public Co Ltd, Exploratory and Developed Wells, 2013-2017 72

Table 39: PTT Public Co Ltd, Exploratory and Developed Wells, By Country/Region, 2013-2017 73

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