Asset report

Brazil Barreirinhas exploration basin

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Report summary

The Barreirinhas Basin is a predominantly offshore basin located on the Brazilian Equatorial Margin. Exploration onshore and in shallow waters has met with negative results; future activity will focus on the deepwater play where explorers hope to replicate the recent success achieved in nearby analogous basins (Guyana basin and southern Brazil). Only two of the 67 wells drilled to date have penetrated the deepwater acreage. The deepwater portion is truly frontier; operators face a very high cost environment and a fiscal regime that provides little cushion against high costs and low prices. As a result we have assumed the exploration levels will remain low in the near term especially in comparison to other more established offshore Brazil basins with operators struggling to create value. This report is accompanied by multiple excel downloads which detail recent costs volumes discovered and value in addition to yet to find volumes prospect economics and value creation potential.

What's included

This report contains

  • Document

    Brazil Barreirinhas.zip

    ZIP 2.58 MB

  • Document

    Brazil Barreirinhas exploration basin

    PDF 3.02 MB

  • Document

    Brazil Barreirinhas exploration basin

    ZIP 5.50 MB

Table of contents

  • Key facts
  • Summary and key issues
  • Location maps
  • Participation
  • Key companies
  • Geology
  • Exploration
  • Reserves and resources
  • Development
  • Costs
  • Fiscal and regulatory
  • Economic assumptions
  • Economic analysis

Tables and charts

This report includes 41 images and tables including:

Images

  • Value creation versus investment (TYP period)
  • Value creation versus investment (outlook period)
  • Location maps: Image 1
  • Location maps: Image 2
  • Licensed exploration acreage
  • Expiry forecast of current licences
  • Gross exploration wells completed by operator
  • Net exploration wells completed by participant
  • Exploration and appraisal spend
  • Exploration spend per well and average well depth
  • Summary and key issues: Image 3
  • Drilling activity by well type
  • Cumulative exploration wells by play
  • Basin creaming curve
  • Paleogene Cretaceous Deepwater
  • Brent and local oil price assumptions
  • Value creation, exploration spend and volume discovered
  • Breakeven price versus prospect size
  • Value creation versus investment
  • Value of potential discoveries
  • Unit value of potential discoveries
  • Breakeven price of exploration
  • Discount rate breakeven price sensitivities

Tables

  • Play level data
  • Assumptions
  • Price Assumptions
  • Key licence holders
  • Key well operators (TYP period)
  • Key play characteristics
  • Recent discovery costs
  • Summary of discovery and development costs
  • Key basin data
  • Frontier methodology parameters
  • Reserves and resources: Table 3
  • Paleogene Cretaceous Deepwater
  • Paleogene Cretaceous Deepwater
  • Fiscal and regulatory: Table 1
  • Full-cycle economic analysis
  • Paleogene Cretaceous Deepwater
  • Paleogene Cretaceous Deepwater
  • Average value of future discoveries and implied acreage value

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