Asset Report

Australia Bonaparte exploration basin

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24 April 2018

Australia Bonaparte exploration basin

Report summary

Australia's Bonaparte basin has attracted little of the country's exploration investment over the last decade, well behind the more prolific North Carnarvon and Browse basins. In the Bonaparte, just 54 mmboe of mostly gas resource was discovered over the period. Operators face significant obstacles to monetising discoveries, and none of this resource is considered commercial at current prices. The basin includes petroleum systems of Mesozoic and Palaeozoic age, which can be divided into several sub-basins including the Sahul Platform, Vulcan Graben Sub-basin and Petrel Sub-basin. The majority of resources discovered lie within the north-eastern Sahul Platform, but given the challenges of monetising gas, we expect operators to focus on the more valuable, oil-prone Vulcan Graben Sub-basin going forward. Future discoveries are expected to be small, but the liquids-rich nature of the play supports high unit development values. Full details are available for download in pdf and xls format.

Table of contents

  • Key facts
    • Key issues include:
  • Location maps
  • Participation
  • Key companies
  • Geology
    • Wells drilled
    • Basin success rates
    • Volumes discovered
    • Prospective resource potential
    • Play inputs
      • Creaming curve and key play data
      • Model field pool size distribution
      • Existing discoveries and modelled prospective resource pool size distribution
    • Prospective resource costs and underlying development assumptions
    • Recent discovery costs
    • Licensing
    • Fiscal terms
    • Oil and gas prices
    • TYP economics
    • Outlook economics
    • Development value
      • Sahul Platform
      • Vulcan Graben Sub-basin
      • Petrel Sub-basin
    • Prospect breakeven price
      • Sahul Platform
      • Vulcan Graben Sub-basin
      • Petrel Sub-basin
    • Expected monetary value (EMV)
    • Play economics
    • Full-cycle basin economics
      • Implied acreage value

Tables and charts

This report includes 74 images and tables including:

  • Key play data
  • Assumptions
  • Value creation versus investment (TYP period)
  • Value creation versus investment (outlook)
  • Exploration history map
  • Location maps: Image 2
  • Licensed exploration acreage
  • Expiry forecast of current licences
  • Key licence holders
  • Key well operators (TYP period)
  • Gross exploration wells completed by operator
  • Net exploration wells completed by participant
  • Key companies: Table 3
  • Key play characteristics
  • Summary and key issues: Image 3
  • Drilling activity by well type
  • Cumulative exploration wells by play
  • Discoveries and success rates
  • Discoveries by licence year and drilling year
  • Basin creaming curve
  • Key basin data
  • Volumes discovered by year
  • Average discovery size and volume per well by year
  • Top discoveries (TYP period)
  • Cumulative discoveries by play
  • Cumulative volumes discovered by play
  • Forecast data by play (outlook)
  • Sahul Platform
  • Vulcan Graben Sub-basin
  • Petrel Sub-basin
  • Costs: Table 1
  • Summary of discovery and development costs
  • Exploration and appraisal spend
  • Exploration spend per well and average well depth
  • Typical fiscal terms - offshore plays
  • Brent and local oil price assumptions
  • Henry Hub and local gas price assumptions
  • Brent and local oil price assumptions
  • Value creation, spend and volume discovered
  • Returns by drilling year
  • Breakeven price versus prospect size
  • Value creation versus investment
  • Sahul Platform
  • Vulcan Graben Sub-basin
  • Petrel Sub-basin
  • Sahul Platform
  • Vulcan Graben Sub-basin
  • Petrel Sub-basin
  • Full-cycle economic analysis
  • Sahul Platform
  • Reserves and resources: Table 4
  • Vulcan Graben sub-basin
  • Reserves and resources: Table 5
  • Petrel Sub-basin
  • Reserves and resources: Table 6
  • Sahul Platform
  • Vulcan Graben Sub-basin
  • Petrel Sub-basin
  • Sahul Platform
  • Vulcan Graben Sub-basin
  • Petrel Sub-basin
  • Value of potential discoveries
  • Unit value of potential discoveries
  • Value of potential discoveries
  • Unit value of potential discoveries
  • Value of potential discoveries
  • Unit value of potential discoveries
  • Breakeven price of exploration
  • Discount rate breakeven price sensitivities
  • Breakeven price of exploration
  • Discount rate breakeven price sensitivities
  • Breakeven price of exploration
  • Discount rate breakeven price sensitivities
  • Average value of future discoveries and implied acreage value

What's included

This report contains:

  • Document

    Australia Bonaparte.zip

    ZIP 3.11 MB

  • Document

    Australia Bonaparte exploration basin

    PDF 8.85 MB

  • Document

    Australia Bonaparte exploration basin

    ZIP 11.84 MB