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Broadridge Financial Solutions Inc   (BR)
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Broadridge Financial Solutions Inc Segments

 
 

Business Segments III. Quarter
Revenues
(in millions $)
(Mar 31 2020)
%
(of total Revenues)
III. Quarter
Income
(in millions $)
(Mar 31 2020)
%
(Profit Margin)
Total
1,249.90 100 % 166.80 13.35 %

• View Income Statement • View Competition by Segment • View Annual Report

Growth rates by Segment III. Quarter
Y/Y Revenue
%
(Mar 31 2020)
Q/Q Revenue
%
III. Quarter
Y/Y Income
%
(Mar 31 2020)
Q/Q Income
%
Total
31.1 % 29.03 % 234.27 % 1551.49 %

• View Growth rates • View Competitors Segment Growth • View Market Share

To get more information on Broadridge Financial Solutions Inc 's Total segment. Select each division with the arrow.

  Broadridge Financial Solutions Inc 's

Business Segments Description



U.S.

San Juan Basin

The San Juan Basin, in northwest New Mexico and southwest Colorado, is one of the Company’s major operating areas in terms of reserves and production. The San Juan Basin encompasses nearly 7,500 square miles, or approximately 4.8  million acres, with the major portion located in New Mexico’s Rio Arriba and San Juan counties. The Company is a significant holder of productive leasehold acreage in this area with over 840,000 net acres under its control. The Company operates almost 7,300 well completions in the San Juan Basin and holds interests in an additional 4,300 non-operated well completions.

In 2003, the Company invested $115 million in oil and gas capital, excluding acquisitions, that included 322 new wells and approximately 585 workovers of existing wells. The Company’s net production from the San Juan Basin averaged approximately 546 MMCF of natural gas per day, 31.3 MBbls of NGLs per day and 1.2 MBbls of crude oil per day during 2003. Production from the San Juan Basin grew significantly during the 1990s, first as a result of Fruitland Coal drilling and then as a result of development of tight gas formations. By the end of the decade, all formations were experiencing some decline. To mitigate Fruitland Coal production decline, the Company has an ongoing program that consists of performing workovers on existing wells, adding compression, and installing artificial lift, where appropriate. The Company also developed 35 BCFE of additional Fruitland Coal reserves by drilling new wells on 320-acre and 160-acre spacing, and added 34 BCFE of proved undeveloped reserves. In 2003, net production from the Fruitland Coal averaged 199 MMCF of natural gas per day from over 1,700 completions.

In 2003, the New Mexico Oil and Gas Conservation Division (NMOCD) granted approval to allow infill drilling on 160-acre spacing in the high-productivity portion of the Fruitland Coal pool. The approval by the NMOCD made available many drilling opportunities that are expected to result in additional production and reserves in San Juan.

Also in 2003, the Company repurchased three production interests in properties related to coalbed methane production. These repurchases added net annualized volumes of 79 MMCF of natural gas per day and 95 BCFE of reserves at a price of approximately $80 million, yielding an average acquisition cost of about $0.84 per MCFE.

The three conventional formations (Mesaverde, Pictured Cliffs and Dakota), located in the San Juan Basin, continue to provide attractive development opportunities for the Company. The Mesaverde formation, which consists of the Lewis Shale, Cliffhouse, Menefee and Point Lookout sands, is the largest producing tight gas formation in the San Juan Basin. In 2003, the Company continued its ongoing infill drilling program in this formation by developing 115 BCFE of reserves. In the Dakota formation, the Company developed 40 BCFE of additional reserves by drilling new wells on 160-acre and 80-acre spacing during 2003 and added 274 BCFE of proved undeveloped reserves. Net production from the tight gas producing formations averaged 347 MMCF of natural gas per day and 31.3 MBbls of NGLs per day.

During the year, the Company continued its cost management efforts in the San Juan Basin. Year-over-year, net operated capital costs for like-kind projects were essentially flat to 2002 as a result of a variety of process improvements. Similarly, lease operating expenses were reduced by $1.5 million from 2002, despite inflationary and operational cost pressures, resulting in unit costs per MCFE being essentially flat to 2002. This was achieved primarily through compression optimization and cost savings for produced water disposal.

Wind River Basin

The Madden Field, located in the Wind River Basin, covers more than 70,000  acres in Wyoming’s Fremont and Natrona counties. Net production averaged 88  MMCF of natural gas per day in 2003 from multiple horizons ranging in depth from 5,000 feet to over 25,000 feet, where the deep Madison formation occurs. Investments in the Wind River Basin during 2003 totaled $19 million for approximately 56 newly drilled wells and workover projects in the deep Madison and shallower formations. During the summer of 2003, the Company elected to shut-in natural gas production from the deep Madison wells after localized pipe deformations were found during inspection of the field’s high-pressure gathering system. By year end, the Company had completed repairs on four gathering lines, largely restoring production. Two other gathering lines are producing at reduced rates pending further repairs scheduled for mid-2004. In addition, the final gathering line is also expected to be completed at that time. The Company spent $4 million for repairs to the deep Madison gathering system in 2003. The Big Horn #9-4, the last of the planned deep development wells, began producing in mid-November 2003. The Company owns an approximate 50 percent working interest in the Lost Cabin Gas Plant and a 42 percent net revenue interest in the Madison reservoir.

Williston Basin

The Williston Basin operations, in western North Dakota and eastern Montana, are primarily focused on the Cedar Creek Anticline. Total Williston Basin production averaged 13 MBbls of crude oil per day and 4 MMCF of natural gas per day. During 2003, the Company invested $66 million on horizontal drilling and workover projects, primarily located in the Cedar Hills South and East Lookout Butte waterflood units.

The Company continued its highly active waterflood development program at the Cedar Hills Unit by drilling 24 wells, extending 33 existing horizontal wells, and increasing water injection volumes. Seven of these newly drilled wells are testing 160-acre infill spacing. This spacing is also being pilot tested in East Lookout Butte and was expanded in 2003 with the addition of 11 wells. These pilots are being monitored to further assess the feasibility of infill drilling on 160-acre spacing to improve the efficiency of the waterflood.

Anadarko Basin

The Anadarko Basin, located principally in western Oklahoma, encompasses over 30,000 square miles and contains some of the deepest producing formations in the world. The Company controls over 250,000 net acres and produces from multiple horizons ranging in depth from 11,000 feet to over 21,000 feet. Net production for 2003 from the Anadarko Basin averaged 78 MMCF of natural gas per day and 0.4 MBbls of NGLs per day. During 2003, the Company invested $27 million in the Anadarko Basin. Operated activity focused on the Red Fork formation in Roger Mills County, Oklahoma where the Company drilled 19 wells.

Permian Basin

Permian Basin operations, in west Texas, are focused on the Waddell Ranch Field. Total Permian Basin production in 2003 averaged 15 MMCF of natural gas per day, 3.5 MBbls of crude oil per day and 1.6 MBbls of NGLs per day, with the Waddell Ranch Field contributing 11 MMCF of natural gas per day, 2.8 MBbls of crude oil per day and 1.6 MBbls of NGLs per day. During 2003, the Company invested $9 million in Permian Basin operations.

Fort Worth Basin

The Fort Worth Basin of north central Texas had a significant increase in activity in 2003 for the Company following the 2002 acquisition of a largely undeveloped Barnett Shale formation acreage position in Denton County, Texas. Net volumes increased from 18 MMCF of natural gas per day, 0.3 MBbls of NGLs per day and 0.3 MBbls of crude oil per day at the beginning of the year to 34 MMCF of natural gas per day, 4.1 MBbls of NGLs per day and 1.1 MBbls of crude oil per day at year end. The Company employed up to nine rigs during the year to drill 163 wells in the Barnett Shale formation including a two-well pilot program to test horizontal well technology. The Company invested $90 million in 2003 with production averaging 28 MMCF of natural gas per day, 2.1 MBbls of NGLs per day and 0.7 MBbls of crude oil per day.

Onshore Gulf Coast

The Onshore Gulf Coast includes a number of drilling trends in south Louisiana, as well as 660,000 acres of fee lands where the Company owns the mineral rights and surface lands. In 2003, the Company invested $75 million in 52 drilling, workover and facilities projects in south Louisiana. Net production for 2003 averaged 94 MMCF of natural gas per day, 6.6 MBbls of crude oil per day and 1.2 MBbls of NGLs per day.

Canada

Western Canadian Sedimentary Basin

In the Western Canadian Sedimentary Basin, the Company’s portfolio of opportunities includes conventional exploration and development in Alberta, British Columbia and Saskatchewan, as well as frontier exploration in the Mackenzie Delta in the Northwest Territories.

Canadian activity in 2003 focused on production growth, reserve additions and cost control on the integrated assets acquired since 1999 by expanding original activity into large-scale repeatable drilling programs in conventional and lower permeability reservoirs. Oil and gas capital investment in Canada was $679 million, including acquisitions, and resulted in the completion of 737 gross wells.

The Deep Basin area, in Alberta and British Columbia, consists of the Elmworth, Wapiti, Noel and Brassey Fields. The Company acquired interests in 84,000 acres of mineral rights through Crown Land sales in Alberta and British Columbia. This included approximately 40,000 acres in the Brassey area to extend drilling activity in the tight gas trend. In 2003, a $256 million oil and gas capital program was focused on exploration and development in the Deep Basin area. As a result, 180 wells were drilled and 233 MMCF of natural gas per day and 15.6 MBbls of NGLs per day were produced from this area, representing a 12 percent increase year over year.

In the Deep Basin, the 2003 program focused on continued exploitation of tight gas reservoirs in the Cadomin and Chinook formations. Regulatory approval to reduce well spacing in the Cadomin from 640-acres to 320-acres was expanded from a 33-section area at the start of the year to 83 sections, with an additional 32 sections pending final regulatory approval. As a result of the down-spacing approvals, the Company drilled 28 infill wells in the Cadomin formation in the Elmworth area and 19 infill wells in the Chinook formation.

The O’Chiese and Whitecourt areas in central Alberta yielded 2003 production of 226 MMCF of natural gas per day, 8.9 MBbls of NGLs per day and 2.7 MBbls of crude oil per day. The O’Chiese and Whitecourt areas were the focus of a $156 million exploration and development program in 2003 that mostly targeted the Lower Cretaceous and Jurassic sands, the principal historical targets. A total of 168 wells were drilled, including 26 wells in shallow gas formations.

The Company continued exploration and development activities in the greater Ring Border area on the border of northern Alberta and British Columbia. Production in this area during 2003 averaged 111 MMCF of natural gas per day and 1.9 MBbls of NGLs per day. A capital program in this area of $72 million targeted the Bluesky, Gething and Montney formations and 101 wells were drilled. This included 19 wells that extended the Gutah discovery west of the Ring Border Unit. The Kahntah Field, lying northwest of the Ring Border Field, was also brought on-stream to the existing Ring Border plant.

In the Kaybob area, production for the year averaged 69 MMCF of natural gas per day and 0.7 MBbls of NGLs per day. This represents production growth of 54 percent over 2002. During 2003, the Company invested $78 million, drilled 59 wells in the Lower Cretaceous formation and expanded the wholly owned Berland River gas processing plant.

The Viking Kinsella property produced approximately 87 MMCF of natural gas per day in 2003, a 42 percent increase over 2002. An additional 79 wells were drilled on the property in 2003. The infrastructure was expanded with the purchase of a gas processing plant at Scoville Lake and the construction of a new gas processing plant at Vernon Lake.

Mackenzie Delta

In the MacKenzie Delta, a successful exploration well was drilled at the Langley K-30 location resulting in a discovery from the Eocene Taglu formation.

Other International

The Company’s Other International operations include a combination of exploration projects, large field development projects and production operations. Key focus areas are Northwest Europe, North Africa, China and South America.

   

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