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16 Pages

Apache oil and gas exploration summary

Apache oil and gas exploration summary

Report summary

Apache has historically operated as a mature asset specialist with a moderately risk-averse strategy, predominantly focused on growth through acquisitions followed by aggressive exploitation and incremental exploration. It used an "acquire, exploit and explore" model to drive growth, and generally pursued a cyclical approach to deal activity. In the second half of the decade, it has focused on organic growth by exploiting and working-over acquired properties. Exploration and appraisal (E&A) activity was focused on assets acquired in 2010 in the US Deepwater Gulf of Mexico and Egypt Western Desert. The role of high-impact conventional exploration in Apache's strategy has fluctuated over the last few years. However in 2013, a new exploration leadership team re-focused on near-field exploration and unconventional resource plays.

What's included?

This report includes 2 file(s)

  • Apache oil and gas exploration summary PDF - 647.51 KB 16 Pages, 6 Tables, 20 Figures
  • Apache.xls XLS - 619.50 KB


Affected by supply and demand, the economy of individual countries and technological breakthroughs, oil and gas exploration is an industry in constant motion. The high costs of finding and developing new oil and gas fields that can be commercially developed has created a challenging atmosphere, with explorers increasingly seeing low returns, low value and slow progress.

This Exploration Summary report quantifies the company's exploration volume and value performance over the past 10 years, and reviews its outlook for future success.

Businesses can use this report to get a detailed analysis of this company, what exploration areas they're involved in, what wells to watch and how well placed they are. It will help you understand company performance and shows how the best explorers have achieved their success.

Wood Mackenzie benchmarks exploration results for over 40 companies. Our analysts provide accurate information on the cost of exploration compared to the value of discoveries so that you can develop profitable strategies. We are the established global industry standard for oil and gas exploration performance.

  • Executive summary
  • Strategy
    • Upstream strategy and the role of exploration
    • Evolution of exploration strategy
  • Investment and costs
  • Exploration
    • Well data
  • Reserves and resources
  • Production
  • Valuation
    • Acquire, exploit, explore strategy boosts exploration performance metrics
    • Egypt has been a key exploration province
    • Growth then retrenchment from LNG and Australia
    • Higher-impact strategy saw an increase in costs and limited commercial success
    • Increasing unconventionals for long-term sustainability

In this report there are 26 tables or charts, including:

  • Executive summary
    • Basins drilled and major discoveries 2005-2014
    • Ten year performance summary
  • Strategy
    • Strategy: Table 1
    • Net active exploration acreage by water depth
    • Net active exploration acreage by country
  • Investment and costs
    • Exploration & appraisal spend and reinvestment
    • Exploration & appraisal spend by water depth
    • Exploration & appraisal spend by basin maturity
    • Discovery costs by water depth
  • Exploration
    • Gross exploration & appraisal wells by basin and sector
    • Exploration wells drilled and spend per well
    • Exploration success rates
  • Reserves and resources
    • Top 40 discoveries (2005 to 2014)
    • Key organic unconventional plays
    • Volumes discovered by year
    • Volumes discovered by water depth
    • Volumes discovered by country
    • Volumes discovered by basin
  • Production
    • Production from new field discoveries and unconventionals
  • Valuation
    • Full-cycle economics
    • Full cycle value creation by year (conventional only)
    • Full cycle value creation by year, with uncons & DROs
    • Exploration returns by year (conventional only)
    • Exploration returns by year, with uncons
    • Value creation by reserve category
    • Value creation by water depth
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