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Cairn Energy oil and gas exploration summary

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06 September 2018

Cairn Energy oil and gas exploration summary

Report summary

Cairn Energy's strategy is to create value through an exploration-led investment cycle. It aims to commercialise and return this value to shareholders rather than necessarily follow long-term development-led growth. A decade ago, with cashflow from South Asia, this approach led to spectacular success in India and top-quartile value creation. Replicating this business model of discover, and develop with the potential to dispose, has been a challenge. However, the company has been through a series of steps into a smaller, more nimble E&P player. It has a good balance of high-impact, frontier acreage and lower-risk exploration, development and production assets. The geography of its portfolio has changed but its business model, so successful in previous years, remains unchanged. Early entry and high equity positions have ranked high on its list of requirements and Cairn now has options to pursue its strategy across three core plays.

Table of contents

  • Executive summary
    • Upstream strategy
    • Exploration outlook
    • Other Cairn Energy research
    • Evolution of exploration strategy
  • Investment and costs
    • Well data
    • Scope of this report
    • Production from new field discoveries and organic unconventionals, and as a proportion of all future production
    • Move into Greenland did not add new resource
    • Balancing frontier wildcatting with lower-risk mature basin exploration has proved successful
    • Frontier wildcatting in Senegal ushers in new era of exploration success

Tables and charts

This report includes 23 images and tables including:

  • Executive summary: Image 1
  • Ten year performance summary
  • Exploration & appraisal spend and reinvestment*
  • Exploration & appraisal spend by water depth
  • Exploration & appraisal spend by basin maturity
  • Discovery costs by water depth
  • Full-cycle economics
  • SWOT Grid
  • Net active exploration acreage by water depth
  • Net active exploration acreage by country
  • Gross exploration & appraisal wells by basin and sector
  • Exploration wells drilled and spend per well
  • Exploration success rates
  • Discoveries (2008 to 2017)
  • Volumes discovered by year
  • Volumes discovered by water depth
  • Volumes discovered by country
  • Volumes discovered by basin
  • Production: Image 1
  • Full cycle value creation by year
  • Exploration returns by year
  • Costs and development value by resource category
  • Exploration returns by water depth

What's included

This report contains:

  • Document

    Cairn Energy oil and gas exploration summary

    PDF 956.09 KB