Company Report
Anadarko oil and gas exploration summary
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Report summary
For the purpose of this report, we have analysed Anadarko's exploration performance from 2009-2018. This effectively shows the value of Anadarko's discoveries had it not not been bought by Occidental. Returns from Anadarko's conventional exploration activity over the last decade were just 5%. Conversely, the sale of non-core and dry gas acreage onshore US boosted returns from unconventional exploration. Overall returns from exploration were 17%. Anadarko focused on high-margin domestic oil, both onshore and in the US Gulf of Mexico. Internationally, recent results were mixed and few new test areas were added.
Table of contents
- Occidental acquisition of Anadarko
- Occidental sells Anadarko's African portfolio to Total
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Well data
- High-impact strategy in core deepwater regions brought volume, but value was less certain
- Leader in unconventional liquid-rich plays
- Early realisation of value from gas-prone shales
- Range of plays provided diversity in deepwater US Gulf of Mexico
- Early-mover advantage in the West African Transform Margin
- Spectacular East African success brings LNG potential to the portfolio
- Brazilian acquisition bears fruit through pre-salt success
- Limited value creation from conventional onshore exploration
- Non-core areas rationalised
Tables and charts
This report includes 18 images and tables including:
- Exploration & appraisal spend and reinvestment
- Exploration & appraisal spend by water depth
- Exploration & appraisal spend by basin maturity
- Discovery costs by water depth
- Gross exploration & appraisal wells by basin and sector
- Exploration wells drilled and spend per well
- Exploration success rates
- Top 40 discoveries (2007 to 2016)
- Key organic unconventional plays
- Volumes discovered by year
- Volumes discovered by water depth
- Volumes discovered by country
- Volumes discovered by basin
- Full-cycle economics
- Full cycle value creation by year, including unconventionals
- Exploration returns by year, including unconventionals
- Costs and development value by reserve category
- Exploration returns by water depth
What's included
This report contains:
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