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Cairn Energy oil and gas exploration summary

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24 September 2019

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. Over 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 also recently undergone a significant acreage reload. It has a good balance of high-impact, frontier acreage and lower-risk exploration, development and production assets. 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

  • Upstream strategy
  • Exploration outlook
  • Evolution of exploration strategy
  • Well data
    • Move into Greenland did not add new resource
    • Balancing frontier wildcatting with lower-risk mature basin exploration has proved successful
    • Frontier wildcatting in Senegal ushered in new era of exploration success

Tables and charts

This report includes 20 images and tables including:

  • Net active exploration acreage by water depth
  • Net active exploration 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 exploration & appraisal wells by basin and sector
  • Exploration wells drilled and spend per well
  • Exploration success rates
  • Discoveries (2009 to 2018)
  • Volumes discovered by year
  • Volumes discovered by water depth
  • Volumes discovered by country
  • Volumes discovered by basin
  • Production from new field discoveries and organic unconventionals, and as a proportion of all future production
  • Full-cycle economics
  • 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

    ZIP 1.05 MB

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    Cairn Energy oil and gas exploration summary

    ZIP 1.06 MB

  • Document

    Cairn Energy oil and gas summary.xls

    XLS 635.50 KB

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