Company Report
BP oil and gas exploration summary
Report summary
BP was well-placed financially to enter the recent down-cycle having successfully delivered on a three-year, 10-point plan that simplified and re-shaped its portfolio. The oil price fall provided fresh impetus in its drive to re-engineer its portfolio, and the company adapted to a 'lower for longer' price environment. Over recent years, with the financial framework strengthened and Deepwater Horizon penalties largely behind it, BP has been emboldened to step-up business development activity; taking advantage of the counter-cyclical opportunities presented by the downturn.
Table of contents
- Upstream strategy
-
Exploration outlook
- SWOT Grid
- Evolution of exploration strategy
- Well data
- Scope of this report
- Volumes starting to be translated into value
- Deepwater US Gulf of Mexico remains key
- A focused number of core regions
- Unconventional liquids and gas both boosting value creation
Tables and charts
This report includes 21 images and tables including:
- Net active exploration acreage by water depth
- Net active conventional acreage by country
- Exploration & appraisal spend and reinvestment
- Exploration & appraisal spend by water depth
- Exploration & appraisal spend by basin maturity
- Discovery costs by water depth
- Gross conventional exploration & appraisal wells by basin and sector
- Exploration wells drilled and spend per well
- Exploration success rates
- Top 40 discoveries (2009 to 2018)
- Key organic unconventional plays
- Volumes discovered by year
- Volumes discovered by water depth
- Volumes discovered by country
- Volumes discovered by basin
- Production from new field discoveries, organic unconventionals and as a proportion of all future production
- Full-cycle economics
- 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
What's included
This report contains:
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