The report analyses the global conventional exploration performance over the past five years, together with exploration drilling plans for 2016. The analysis covers:
- Key discoveries of 2015, the key plays and all frontier drilling
- Performance of 40 international E&P companies has been benchmarked
- Benchmarking covers 1,1191 completed conventional wildcat wells drilled at a cost of $49 billion, finding 44 billion boe of oil and gas, estimated to be more than 50% of the total volume discovered by the industry in the five-year period.
Every exploration well drilled by these companies in 2011-15 has been analysed together with global frontier and high impact wells drilled by the wider industry based on published company reports and REP’s own assessments. REP has judged the likelihood of a commercial development for each successful well and made estimates of the most likely recoverable volumes. Resource estimates for pre-2015 wells have been reviewed in the light of recent appraisal or development activity.
Each company is assessed on gross and net wells drilled, commercial success rates, discovery sizes, net discovered volumes of oil and gas per well and finding costs. REP also collects information regarding the type and nature of the prospect being drilled; e.g. the primary target, prospect type and play maturity, together with a failure analysis of unsuccessful wells where possible.
The planned exploration wells in our 2016 look-ahead are based on the latest company plans. REP reviews company forecasts of prospective resource volumes and exploration risks. Where these are not available REP assigns prospective volumes and risks based on prospect analogues from our extensive wildcat database.
- Geographic and geological focus
- Play and prospect analysis
- Exploration performance benchmarking 2011-2015
- Pre-drill risking – the effectiveness of analogue play statistics
- Exploration economics and strategy in a low oil price world
- Analysis of the key wells and plays being targeted in 2016.
The analysis allows insight into success rates across geographies, different basin types, and between exploration plays.
The report will provide users with expert intelligence on international conventional oil and gas exploration for company strategy, business development and performance benchmarking.
REP is also offering a presentation of the report findings, via webinar, to purchasers at no extra charge.