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16 Pages

BG oil and gas exploration summary

BG oil and gas exploration summary

Report summary

BG has achieved great success through the drill bit over the last ten years. It has adapted its global gas strategy to the oil sector to build an outstanding portfolio of growth assets, primarily through consistent exploration performance. Resources such as Lula-Iracema in Brazil and the Block 1 gas fields in Tanzania were added to its portfolio and their size, location, production potential and net value indicate how great value can be created from new field exploration investment. Between 2005 and 2014 we estimate BG created value of US$7.7 billion under our Base price assumption. Project execution is now a primary focus - the pre-salt oil developments in Brazil, ramp-up of production at the Australian QC-LNG project, and in the medium term delivering the Tanzanian LNG project. If BG can deliver on these mega projects, it will lead its peers and achieve a phase of sustained out-performance on key operational metrics.

What's included?

This report includes 2 file(s)

  • BG oil and gas exploration summary PDF - 584.55 KB 16 Pages, 6 Tables, 20 Figures
  • BG.xls XLS - 558.50 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 exploration outlook
    • Evolution of exploration strategy
  • Investment and costs
  • Exploration
    • Well data
  • Reserves and resources
  • Production
  • Valuation
    • Pre-salt Brazil has driven growth and returns
    • Gas strategy continues to deliver
    • Project execution is key

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 organic unconventionals
  • Valuation
    • Full-cycle economics
    • Full cycle value creation by year (conventional only)
    • Full cycle value creation by year, incl. uncons
    • Exploration returns by year (conventional only)
    • Exploration returns by year, incl. uncons
    • Value creation by reserve category
    • Value creation by water depth
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