Company Report
Anadarko oil and gas exploration summary
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
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
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Tables and charts
This report includes the following images and tables:
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Exploration & appraisal spend and reinvestmentExploration & appraisal spend by water depthExploration & appraisal spend by basin maturity
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Discovery costs by water depthGross exploration & appraisal wells by basin and sectorExploration wells drilled and spend per wellExploration success ratesTop 40 discoveries (2007 to 2016)Key organic unconventional playsVolumes discovered by yearVolumes discovered by water depthVolumes discovered by country
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What's included
This report contains:
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