1 Table of Contents 2
1.1 List of Tables 7
1.2 List of Figures 9
2 US California Exploration and Production Sector 10
2.1 US California, Key Data 10
2.2 US California, Exploration And Production Assets Map 11
2.3 US California Exploration and Production Sector, Production 12
2.3.1 US California Exploration and Production Sector, Crude Oil-Historical Production 12
2.3.2 US California Exploration and Production Sector, Natural Gas-Historical Production 13
2.3.3 US California Exploration and Production Sector, Crude Oil Production by Assets 14
2.3.4 US California Exploration and Production Sector, Natural Gas Production by Assets 17
2.3.5 US California Exploration and Production Sector, Crude Oil Production by Company 20
2.3.6 US California Exploration and Production Sector, Natural Gas Production by Company 21
2.4 US California Exploration and Production Sector, Forecasts 23
2.4.1 US California Exploration and Production Sector, Crude Oil Forecasted Production 23
2.4.2 US California Exploration and Production Sector, Natural Gas Forecasted Production 26
2.5 US California Exploration And Production Sector, Exploration 29
2.5.1 US California Exploration And Production Sector, Total Active Exploration Blocks 29
2.5.2 US California Exploration And Production Sector, Active Exploration Blocks by Company 29
3 Profile of British Petroleum Plc 44
3.1 British Petroleum Plc, Key Information 44
3.2 British Petroleum Plc, Company Overview 44
3.3 British Petroleum Plc, Business Description 44
3.3.1 British Petroleum Plc, Business Description, Business Overview 44
3.3.2 British Petroleum Plc, Business Description, Exploration and Production 44
3.3.3 British Petroleum Plc, Business Description, Gas, Power and Renewables 46
3.3.4 British Petroleum Plc, Business Description, Refining and Marketing 47
3.3.5 British Petroleum Plc, Business Description, Major Products and Services 49
3.4 British Petroleum Plc, Value Chain Analysis 50
3.4.1 British Petroleum Plc, Value Chain Analysis, Upstream 51
3.4.2 British Petroleum Plc, Value Chain Analysis, Midstream 51
3.4.3 British Petroleum Plc, Value Chain Analysis, Downstream 52
3.4.4 British Petroleum Plc, Value Chain Analysis, Retail 53
3.5 British Petroleum Plc, SWOT Analysis 54
3.5.1 British Petroleum Plc, SWOT Analysis, Overview 54
3.5.2 British Petroleum Plc, SWOT Analysis, Strengths 55
3.5.3 British Petroleum Plc, SWOT Analysis, Weaknesses 56
3.5.4 British Petroleum Plc, SWOT Analysis, Opportunities 56
3.5.5 British Petroleum Plc, SWOT Analysis, Threats 58
3.6 British Petroleum Plc, Revenue Analysis 59
3.6.1 British Petroleum Plc, Revenue by Segment 59
3.6.2 British Petroleum Plc, Revenue by Geography 60
3.7 British Petroleum Plc, Financial and Operational Review 61
3.7.1 Financial Statements 61
3.7.2 Financial Ratios 62
4 Profile of ConocoPhillips 63
4.1 ConocoPhillips, Key Information 63
4.2 ConocoPhillips, Company Overview 63
4.3 ConocoPhillips, Business Description 63
4.3.1 ConocoPhillips, Business Description, Overview 63
4.3.2 ConocoPhillips, Business Description, Chemicals Segment 64
4.3.3 ConocoPhillips, Business Description, Emerging Businesses Segment 64
4.3.4 ConocoPhillips, Business Description, Exploration and Production Segment 66
4.3.5 ConocoPhillips, Business Description, LUKOIL Investment 67
4.3.6 ConocoPhillips, Business Description, Midstream Segment 67
4.3.7 ConocoPhillips, Business Description, Refining and Marketing Segment 68
4.4 ConocoPhillips, Value Chain Analysis 70
4.4.1 ConocoPhillips, Value Chain Analysis, Upstream 70
4.4.2 ConocoPhillips, Value Chain Analysis, Midstream 71
4.4.3 ConocoPhillips, Value Chain Analysis, Downstream 72
4.4.4 ConocoPhillips, Value Chain Analysis, Retail 72
4.5 ConocoPhillips, SWOT Analysis 73
4.5.1 ConocoPhillips, SWOT Analysis, Overview 73
4.5.2 ConocoPhillips, SWOT Analysis, Strengths 74
4.5.3 ConocoPhillips, SWOT Analysis, Weaknesses 75
4.5.4 ConocoPhillips, SWOT Analysis, Opportunities 76
4.5.5 ConocoPhillips, SWOT Analysis, Threats 77
4.6 ConocoPhillips, Revenue Analysis 78
4.6.1 ConocoPhillips, Revenue by Segment 78
4.6.2 ConocoPhillips, Revenue by Geography 79
4.7 ConocoPhillips, Financial and Operational Review 80
4.7.1 Financial Statements 80
4.7.2 Financial Ratios 81
5 Profile of Exxon Mobil Corporation 82
5.1 Exxon Mobil Corporation, Key Information 82
5.2 Exxon Mobil Corporation, Company Overview 82
5.3 Exxon Mobil Corporation, Business Description 82
5.3.1 Exxon Mobil Corporation, Business Description, Overview 82
5.3.2 Exxon Mobil Corporation, Business Description, Chemical 82
5.3.3 Exxon Mobil Corporation, Business Description, Downstream 84
5.3.4 Exxon Mobil Corporation, Business Description, Upstream 86
5.4 Exxon Mobil Corporation, Value Chain Analysis 88
5.4.1 Exxon Mobil Corporation, Value Chain Analysis, Upstream 88
5.4.2 Exxon Mobil Corporation, Value Chain Analysis, Midstream 89
5.4.3 Exxon Mobil Corporation, Value Chain Analysis, Downstream 90
5.4.4 Exxon Mobil Corporation, Value Chain Analysis, Retail 90
5.5 Exxon Mobil Corporation, SWOT Analysis 90
5.5.1 Exxon Mobil Corporation, SWOT Analysis, Overview 90
5.5.2 Exxon Mobil Corporation, SWOT Analysis, Strengths 91
5.5.3 Exxon Mobil Corporation, SWOT Analysis, Weaknesses 93
5.5.4 Exxon Mobil Corporation, SWOT Analysis, Opportunities 95
5.5.5 Exxon Mobil Corporation, SWOT Analysis, Threats 96
5.6 Exxon Mobil Corporation, Revenue Analysis 98
5.6.1 Exxon Mobil Corporation, Revenue by Segment 98
5.6.2 Exxon Mobil Corporation, Revenue by Geography 99
5.7 Exxon Mobil Corporation, Financial and Operational Review 100
5.7.1 Financial Statements 100
5.7.2 Financial Ratios 101
6 Financial Deals Landscape 102
6.1 Detailed Deal Summary 102
6.1.1 Acquisition 102
6.1.2 Equity Offerings 104
6.1.3 Debt Offerings 114
6.1.4 Partnerships 127
6.1.5 Asset Transactions 129
7 Recent Developments 138
7.1 License Rounds 138
7.1.1 Feb 25, 2009: Salazar To Offer New Round Of Oil Shale Research, Development And Demonstration Leases 138
7.2 License Awards 139
7.2.1 Feb 17, 2009: Ameriwest Energy Receives Approval To Drill At Geary Prospect, Wyoming 139
7.3 Strategy and Business Expansion 139
7.3.1 Feb 17, 2009: Gulf Coast Western Announces Expansion Of Exploration Plans For 2009 139
7.4 Recent Discoveries 140
7.4.1 Feb 27, 2009: Aztec Oil & Gas Encounters Gas At West Powell #1 Well In Goliad County, Texas 140
7.4.2 Feb 25, 2009: Amadeus Energy Intersects Oil At Lyles #1 Well In Longville Project, Louisiana 141
7.4.3 Feb 22, 2009: Seisma Oil Research Hits Gas At Los Dos Apache Well #6 In Texas 141
7.4.4 Feb 18, 2009: Nighthawk Energy Discovers Gas At Devon Field In Bourbon County, Kansas 142
7.4.5 Feb 17, 2009: Southern Star Announces Discovery At L. Moore 20-1 Well In Sentell Field, Bossier Parish, Louisiana 142
7.5 Drilling and Production Updates 143
7.5.1 Mar 09, 2009: ExxonMobil To Produce Four Million Bpd Of Oil And Gas In 2009 143
7.5.2 Mar 09, 2009: Victory Energy Updates On Canyon Sandstone Natural Gas Field In Texas Permian Basin 144
7.5.3 Mar 08, 2009: ExxonMobil To Raise Gas Production In Colorado 144
7.5.4 Mar 06, 2009: Enhanced Oil Activates Crossroads No. 202 Well In Lea County, New Mexico 145
7.5.5 Mar 05, 2009: Leni Gas & Oil Provides Production Update 146
7.5.6 Mar 05, 2009: Samson Oil & Gas Updates On Leonard #1-23H Well In Williston Basin, North Dakota 147
7.5.7 Mar 04, 2009: Amadeus Energy Announces Testing Results Of Lyles #1 Well At Longville, Louisiana 148
7.5.8 Mar 03, 2009: Cabot Oil & Gas Completes Drilling Horizontal Wells In Marcellus Play, Eastern Pennsylvania 148
7.5.9 Mar 02, 2009: Approach Resources Reports Year-End 2008 Reserves 149
7.5.10 Mar 02, 2009: Kentucky USA Energy Reaches Total Depth On Francis Grace #3 In US 151
7.6 Financial Announcements 152
7.6.1 Mar 06, 2009: Rex Energy Reports Q4 2008 Results 152
7.6.2 Mar 06, 2009: DTE Energy Declares Dividend 154
7.6.3 Mar 05, 2009: Harvest Natural Resources Reports Q4 2008 Results 154
7.6.4 Mar 05, 2009: Teton Energy Reports 2008 Results 157
7.6.5 Mar 05, 2009: Venoco Reports 2008 Results 160
7.7 Other Significant Developments 163
7.7.1 Mar 09, 2009: ENI Oil and Gas Delays Nikaitchuq Offshore Project In Alaska 163
7.7.2 Mar 09, 2009: ExxonMobil To Elect New Senior Vice President 165
7.7.3 Mar 09, 2009: GMX Resources Reduces CAPEX For 2009 166
7.7.4 Mar 09, 2009: Pacific Energy Resources Files Petition For Chapter 11 Of Bankruptcy Code 166
7.7.5 Mar 05, 2009: BNK Petroleum Provides Operational Update 167
8 Appendix 169
8.1 Methodology 169
8.1.1 Coverage 170
8.1.2 Secondary Research 171
8.1.3 Primary Research 171
8.1.4 E&P Forecasts 171
8.1.5 Midstream Forecasts 173
8.1.6 Expert Panel Validation 173
8.2 Contact Us 173
8.3 About GlobalData 173
8.4 Disclaimer 174
1.1 List of Tables
Table 1: US California, Oil and Gas, Key Statistics, 2008 10
Table 2: US California, Total Crude Oil Production (MMBBLs), 2001-2008 12
Table 3: US California, Total Natural Gas Production (MMcf), 2001-2008 13
Table 4: US California, Crude Oil Production (MMBBLs), of Major Assets, 2001-2008 14
Table 5: US California, Natural Gas Production (MMcf), of Major Assets, 2001-2008 17
Table 6: US California, Crude Oil Production (MMBBLs), of Major Companies, 2001-2008 20
Table 7: US California, Natural Gas Production (MMcf), of Major Companies, 2001-2008 21
Table 8: US California, Crude Oil Production(MMBBLs), Forecasts by Assets, 2009-2015 23
Table 9: US California, Crude Oil Production(MMBBLs), Forecasts by Assets, 2009-2015, (Contd.) 24
Table 10: US California, Crude Oil Production(MMBBLs), Forecasts by Assets, 2009-2015, (Contd.) 25
Table 11: US California, Natural Gas Production (MMcf), Forecast by Assets, 2009-2015 26
Table 12: US California, Natural Gas Production (MMcf), Forecast by Assets, 2009-2015, (Contd.) 27
Table 13: US California, Natural Gas Production (MMcf), Forecast by Assets, 2009-2015, (Contd.) 28
Table 14: US California, Total Active Exploration Blocks, 2001-2008 29
Table 15: US California, Exploration Active Blocks by Company, 2001-2008 29
Table 16: British Petroleum Plc, Key Facts 44
Table 17: British Petroleum Plc, SWOT Analysis 54
Table 18: British Petroleum Plc, Revenue by Segment, USD Million, 2003-2007 59
Table 19: British Petroleum Plc, Revenue by Geography, USD Million, 2003-2007 60
Table 20: British Petroleum Plc, Financial Statements, USD Million, 2003-2007 61
Table 21: British Petroleum Plc, Financial Ratios, USD Million, 2003-2007 62
Table 22: ConocoPhillips, Key Facts 63
Table 23: ConocoPhillips, SWOT Analysis 74
Table 24: ConocoPhillips, Revenue by Segment, USD Million, 2003-2007 79
Table 25: ConocoPhillips, Revenue by Geography, USD Million, 2003-2007 79
Table 26: ConocoPhillips, Financial Statements, USD Million, 2003-2007 80
Table 27: ConocoPhillips, Financial Ratios, USD Million, 2003-2007 81
Table 28: Exxon Mobil Corporation, Key Facts 82
Table 29: Exxon Mobil Corporation, SWOT Analysis 91
Table 30: Exxon Mobil Corporation, Revenue by Segment, USD Million, 2003-2007 98
Table 31: Exxon Mobil Corporation, Revenue by Geography, USD Million, 2003-2007 100
Table 32: Exxon Mobil Corporation, Financial Statements, USD Million, 2003-2007 100
Table 33: Exxon Mobil Corporation, Financial Ratios, USD Million, 2003-2007 101
Table 34: Total Acquires 50% Stake In American Shale Oil From IDT 102
Table 35: Mogul Energy Announces Agreement To Acquire 40% Interest In Excelaron 103
Table 36: Delta Petroleum Announces Rights Offering Of Convertible Preferred Stock For $175 Million 104
Table 37: Petrohawk Energy Prices Public Offering Of 22 Million Shares For $385 Million 106
Table 38: Berry Petroleum Files Shelf Registration Statement To Raise $750 Million 108
Table 39: BPZ Energy Completes Private Placement Of Common Stock For $43.6 Million 110
Table 40: Magellan Petroleum Announces Equity Investment Of $10 Million 112
Table 41: Williams Companies Completes Private Placement Of 8.75% Senior Notes For $600 Million 114
Table 42: Plains Exploration & Production Prices Public Offering Of 10% Senior Notes For $365 Million 115
Table 43: Anadarko Petroleum Prices Public Offering Of 7.62% Senior Notes For $500 Million 117
Table 44: Anadarko Petroleum Prices Public Offering Of 8.7% Senior Notes For $600 Million 118
Table 45: Noble Energy Announces Public Offering Of 8.25% Notes For $1,000 Million 119
Table 46: DCP Midstream Completes Private Placement Of 9.75% Notes For $450 Million 120
Table 47: Forest Oil Prices Senior Notes Offering Of $600 Million 121
Table 48: Marathon Oil Prices $700 Million Public Offering Of 6.5% Senior Notes Due 2014 122
Table 49: Marathon Oil Prices $800 Million Public Offering Of 7.5% Senior Notes Due 2019 124
Table 50: Denbury Resources Announces Pricing Of $420 Million Of Senior Subordinated Notes 126
Table 51: Blugrass Energy Plans To Form A Joint Venture In Eastern Kentucky 127
Table 52: Enhanced Oil Resources To Form Joint Venture With Tristone Capital 128
Table 53: EPiC Energy Resources Sells Its Interest In Natural Gas Field 129
Table 54: Berry Petroleum To Sell Its Non-Core Assets In Northeastern Colorado For $154 Million 130
Table 55: Precision Petroleum To Acquire Interest In Four Producing Wells In Oklahoma 131
Table 56: GE Energy To Acquire ATP Innovator Floating Oil And Gas Production Unit 132
Table 57: Nighthawk Energy Completes Acquisition Of Well In Jolly Ranch Group Project 133
Table 58: South Texas Oil To Sell Its Colorado DJ Basin Properties And Its Unit 134
Table 59: Aspen Exploration And Gold Coast Resources To Sell Oil And Gas Assets To Venoco 135
Table 60: Aeon Holdings Acquires Interest In Mineral Leases From Green Star Energies 136
Table 61: EGPI/Firecreek To Acquire New Oil And Gas Projects In Texas 137
1.2 List of Figures
Figure 1: US California, Exploration and Production Assets Map, 2008 11
Figure 2: US California, Total Crude Oil Production (MMBBLs), 2001-2008 12
Figure 3: US California, Total Natural Gas Production (MMcf), 2001-2008 13
Figure 4: British Petroleum Plc, Value Chain Analysis 50
Figure 5: ConocoPhillips, Value Chain Analysis 70
Figure 6: Exxon Mobil Corporation, Value Chain Analysis 88
Figure 7: GlobalData Methodology 170