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14 Pages

Cairn Energy oil and gas exploration summary

Cairn Energy oil and gas exploration summary

Report summary

Cairn Energy's strategy is to create value through an exploration-led investment cycle, and to commercialise and return this value to shareholders rather than follow long-term development-led growth. Its application of this approach in India over a decade ago led to spectacular success and value creation. Replicating this business model of discover, and develop with the potential to dispose, has been a considerable challenge. Exploration in Greenland did not produce any commercial success. However the company has worked hard to develop a more balanced, self-funding portfolio across the asset lifecycle. It has been substantially rewarded with key discoveries in Norway (Skarfjell) and most notably Senegal (SNE and FAN), which contributed to the company adding over 357 million boe of new resource over 2006 to 2015. Cairn has an active ongoing programme of appraisal and development work in Senegal which will see it return to creating positive value from exploration.

What's included?

This report includes 2 file(s)

  • Cairn Energy oil and gas exploration summary PDF - 495.24 KB 14 Pages, 5 Tables, 18 Figures
  • Cairn.xls XLS - 563.00 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.

  • Executive summary
    • Basins drilled and all conventional & organic unconventional discoveries 2006-2015
  • Strategy
    • Upstream strategy
    • Exploration outlook
    • Evolution of exploration strategy
  • Investment and costs
  • Exploration
    • Well data
  • Reserves and resources
    • Scope of this report
  • Production
    • Production from new field discoveries and organic unconventionals, and as a proportion of all future production
  • Valuation
    • Move into Greenland did not add new resource
    • Combined strategy of near-field exploration and new frontier wildcatting proves successful
    • Senegal ushers in new era of exploration success

In this report there are 23 tables or charts, including:

  • Executive summary
    • Executive summary: Image 1
    • Ten year performance summary
  • Strategy
    • SWOT Grid
    • Net active exploration acreage by water depth
    • Net active exploration acreage by country
  • Investment and costs
    • Exploration & appraisal spend and reinvestment*
    • Exploration & appraisal spend by water depth
    • Exploration & appraisal spend by basin maturity
    • Discovery costs by water depth
  • Exploration
    • Gross exploration & appraisal wells by basin and sector
    • Exploration wells drilled and spend per well
    • Exploration success rates
  • Reserves and resources
    • Top 40 discoveries (2006 to 2015)
    • Volumes discovered by year
    • Volumes discovered by water depth
    • Volumes discovered by country
    • Volumes discovered by basin
  • Production
    • Production: Image 1
  • Valuation
    • Full-cycle economics
    • Full cycle value creation by year
    • Exploration returns by year
    • Costs and development value by reserve category
    • Exploration returns by water depth
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