Company report

BP oil and gas exploration summary

Loading current market price

Get this report

Loading current market price

Get this report as part of a subscription

Enquire about Subscriptions

Already have subscription? Sign In

Further information

Pay by Invoice or Credit Card FAQs

Contact us

Submit your details to receive further information about this report.

  • An error has occurred while getting captcha image

Report summary

BP was already well-placed financially to enter the down cycle following the Deepwater Horizon incident. BP had already simplified and re-shaped its portfolio and the oil price crash provided fresh impetus in its drive to re-engineer its portfolio to operate in a low price world. The business has re-focused back towards the deepwater and conventional sectors, giving it one of the tightest portfolios amongst the Majors peer group.The company has since pivoted towards gas value chains to help balance the portfolio and increase weighting to large-scale, long-life assets.A balanced approach to longer-term growth will see investment in higher-value near-field opportunities take precedence over higher-risk frontier exploration.

What's included

This report contains

  • Document


    XLS 641.50 KB

  • Document

    BP oil and gas exploration summary

    PDF 562.13 KB

  • Document

    BP oil and gas exploration summary

    ZIP 770.09 KB

Table of contents

  • Executive summary
  • Investment and costs
    • Well data
    • Scope of this report
    • Production from new field discoveries, organic unconventionals and as a proportion of all future production
    • Deepwater US Gulf of Mexico still key
    • The challenge to convert resource to reserves
    • Deepwater additions come at a challenging time

Tables and charts

This report includes 24 images and tables including:


  • Basins drilled and all conventional & organic unconventional discoveries 2007-2016
  • Exploration & appraisal spend and reinvestment
  • Exploration & appraisal spend by water depth
  • Exploration & appraisal spend by basin maturity
  • Discovery costs by water depth
  • Net active exploration acreage by water depth
  • Net active conventional acreage by country
  • Exploration wells drilled and spend per well
  • Exploration success rates
  • Volumes discovered by year
  • Volumes discovered by water depth
  • Volumes discovered by country
  • Volumes discovered by basin
  • Production: Image 1
  • Full cycle value creation by year, with uncons
  • Exploration returns by year, with uncons
  • Costs and development value by resource category
  • Exploration returns by water depth


  • Ten year performance summary
  • Full-cycle economics
  • Gross conventional exploration & appraisal wells by basin and sector
  • Top 40 discoveries (2007 to 2016)
  • Key organic unconventional plays
  • Strategy: Table 1

You may be interested in


Questions about this report?

  • Europe:
    +44 131 243 4699
  • Americas:
    +1 713 470 1900
  • Asia Pacific:
    +61 2 8224 8898