Australia Bonaparte exploration basin
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Report summary
Australia's Bonaparte Basin has attracted 10% of the country's total exploration investment over the last decade, behind the more prolific North Carnarvon and Browse basins. The basin is remote and has limited infrastructure and operators therefore face significant obstacles to monetising gas discoveries. Only a small proportion of the volume discovered between 2005 and 2014 is considered commercial at current prices. The basin includes major petroleum systems of Mesozoic and Palaeozoic age, which can be divided into a number of sub-basins including the Sahul Platform, Vulcan Graben Sub-basin and Petrel Sub-basin. The majority of resources discovered to date lie within the north-eastern Sahul Platform, but given the challenges of monetising gas, we expect operators to focus on exploring the more valuable, oil-prone Vulcan Graben Sub-basin going forward. Future discoveries are expected to be small , however, the liquids-rich nature of the play supports high unit development values.
What's included
This report contains
Table of contents
- Key facts
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Summary and key issues
- Key issues include:
- Location maps
- Participation
- Key companies
- Geology
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Exploration
- Wells drilled
- Basin success rates
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Reserves and resources
- Volumes discovered
- Yet-to-find potential
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Play inputs
- Creaming curve and key play data
- Model field pool size distribution
- Existing discoveries and modelled yet-to-find pool size distribution
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Development
- Yet-to-find costs and underlying development assumptions
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Costs
- Recent discovery costs
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Fiscal and regulatory
- Licensing
- Fiscal terms
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Economic assumptions
- Oil and gas prices
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Economic analysis
- TYP economics
- Outlook economics
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Development value
- Sahul Platform
- Vulcan Graben Sub-basin
- Petrel Sub-basin
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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:
Images
- Value creation versus investment (TYP period)
- Value creation versus investment (outlook)
- Exploration history map
- Exploration wells by play
- Licensed exploration acreage
- Expiry forecast of current licences
- Gross exploration wells completed by operator
- Net exploration wells completed by participant
- 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
- Volumes discovered by year
- Average discovery size and volume per well by year
- Cumulative discoveries by play
- Cumulative volumes discovered by play
- Exploration and appraisal spend
- Exploration spend per well and average well depth
- 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
- 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
Tables
- Key play data
- Assumptions
- Key licence holders
- Key well operators (TYP period)
- Key companies: Table 3
- Key play characteristics
- Key basin data
- Top discoveries (TYP period)
- Forecast data by play (outlook)
- Sahul Platform
- Vulcan Graben Sub-basin
- Petrel Sub-basin
- Costs: Table 1
- Summary of discovery and development costs
- Typical fiscal terms - offshore plays
- Sahul Platform
- Vulcan Graben Sub-basin
- Petrel Sub-basin
- Sahul Platform
- Vulcan Graben Sub-basin
- Petrel Sub-basin
- Full-cycle economic analysis
- Average value of future discoveries and implied acreage value
- Reserves and resources: Table 4
- Reserves and resources: Table 5
- Reserves and resources: Table 6
- Sahul Platform
- Vulcan Graben Sub-basin
- Petrel Sub-basin
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