BP's ongoing pursuit of its long-held mantra of ‘value over volume’ underpins a strategy focused on capital discipline. The company was 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.
This report includes 2 file(s)
BP oil and gas exploration summary PDF - 593.36 KB 16 Pages, 6 Tables, 19 Figures
BP.xls XLS - 561.50 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.
Wood Mackenzie's clients include every major player in the global energy, metals and mining industries. We are recognised as a leading authority by international and national energy, metals and mining companies, leading financial institutions, governments and government agencies. We work with a range of diverse teams within our clients, from strategy and policy makers, business developers and market analysts, through to corporate finance, risk teams and investors.
Having Wood Mac analysis is table-stakes. Others are nice to have.
Analyst Metal Mining Producer
Wood Mac has the highest quality data and is demanded by our staff.
Portfolio Manager Integrated Oil Company
Others can provide data but we value the quality of the Wood Mac analysis above other sources.
As the trusted source of commercial intelligence for the world's natural resources sector for more than 40 years, we empower clients to make better strategic decisions with objective analysis and advice. Find out more...
Company report | Aug 2016
BP oil and gas exploration summary
Have questions? Just let us know how to contact you and we will respond to you as soon as possible.