Asset Report
Brazil Santos exploration basin
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Report summary
Nearly 36 billion barrels of oil equivalent have been discovered in the basin as a whole to date, the vast majority of which was found in the last ten years. The Lula oil find in 2006 was the first of several giants that confirmed the Early Cretaceous pre-salt to be the world's largest new oil play of recent years. Value creation in the Santos Basin over the past ten years has been phenomenal, due to the super-giant volumes discovered in this play. Despite the basin's huge yet-to-find volumes, value creation and returns in our outlook period are much poorer than in the last decade, due largely to the new PSC terms and the high-cost environment.
Table of contents
- Key issues include:
- Wells drilled
- Volumes discovered
- Prospective resource potential
-
Play inputs
- Creaming curve and key play data
- Model field pool size distribution
- Existing discoveries and modelled potential resource pool size distribution
- Prospective resource costs and underlying development assumptions
- Licensing
- Fiscal terms
- Oil and gas prices
- TYP economics
- Outlook economics
- Development value
-
Early Cretaceous - pre-salt polygon
- Early Cretaceous pre-salt new concessions
- Late Cretaceous - Tertiary oil
- Prospect breakeven price
-
Early Cretaceous - pre-salt polygon
- Eraly Cretaceous pre-salt new concessions
- Late Cretaceous-Tertiary Oil
- Expected monetary value (EMV)
- Play economics
- Full cycle basin economics
-
Implied acreage value
- Average value of future discoveries and implied acreage value
Tables and charts
This report includes 69 images and tables including:
- Commerciality index
- Exploration history map
- Exploration wells by play
- Licensed exploration acreage
- Expiry forecast of current licences
- Key licence holders
- Gross exploration wells completed by operator
- Net exploration wells completed by participant
- Key well discoveries, company success rates and discoveriesc
- Key play characteristics
- Drilling activity by well type
- Cumulative exploration wells by play
- Discoveries and success rates
- Discoveries by licence year and drilling year
- Basin creaming curve
- Key basin data
- Volumes discovered by year
- Average discovery size and volume per well by year
- Top discoveries (TYP period)
- Cumulative discoveries by play
- Cumulative volumes discovered by play
- Forecast data by play (outlook)
- Early Cretaceous pre-salt polygon
- Early Cretaceous pre-salt new concessions
- Late Cretaceous - Tertiary oil
- Recent discovery costs
- Summary of discovery and development costs
- Exploration and appraisal spend
- Exploration spend per well and average well depth
- Typical fiscal terms - PSC - Early Cretaceous pre-salt polygon play
- Typical fiscal terms - concession contract - Late Cretaceous-Tertiary Oil play and Early Cretaceous pre-salt new concessions play
- Brent and local oil price assumptions
- Henry Hub and local gas price assumptions
- Value creation, spend and volume discovered
- Returns by drilling year
- 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
- Early Cretaceous - pre-salt polygon
- Early Cretaceous pre-salt new concessions
- Late Cretaceous-Tertiary Oil
- Full cycle economic analysis
- Early Cretaceous pre-salt polygon
- Late Cretaceous - Tertiary oil
- Frontier methodology parameters for Early Cretaceous pre-salt new concessions play
- Early Cretaceous pre-salt new concessions
- Early Cretaceous pre-salt polygon
- Early Cretaceous pre-salt new concessions
- Late Cretaceous-Tertiary Oil
- Early Cretaceous pre-salt polygon
- Early Cretaceous pre-salt new concessions
- Late Cretaceous - Tertiary oil
- Value of potential discoveries
- Unit value of potential discoveries
- Value of potential discoveries
- Value of potential discoveries
- Breakeven price of exploration
- Discount rate breakeven price sensitivities
- Breakeven price of exploration
- Discount rate breakeven price sensitivities
- Early Cretaceous pre-salt polygon
- Early Cretaceous pre-salt new concessions
- Late Cretaceous-Tertiary Oil
What's included
This report contains:
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