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ConocoPhillips is phasing out deepwater exploration, part of an investment shift towards flexible unconventional development and exploration in shorter-cycle, more competitive basins. North American unconventionals lie at the heart of the company’s strategy and the company posted a strong organic performance in the key liquids-rich plays. Further upside is likely from legacy Permian acreage. A higher-impact conventional exploration strategy 2008-2015 yielded large volumes but value was elusive as resource commercialisation proved difficult.
Here, we analyse ConocoPhillips' conventional and unconventional exploration strategy, and its exploration performance over the period 2006-2015, including investment, well activity, volume discovered, discovery cost, reserve replacement ratio, value creation and rates of return. The report includes a detailed data download.
What's included?
This report includes 2 file(s)
ConocoPhillips oil and gas exploration summary PDF - 801.03 KB 17 Pages, 6 Tables, 18 Figures
ConocoPhillips.xls XLS - 613.00 KB
Description
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.
Wood Mackenzie's clients include every major player in the global energy, metals and mining industries. We are recognised as a leading authority by international and national energy, metals and mining companies, leading financial institutions, governments and government agencies. We work with a range of diverse teams within our clients, from strategy and policy makers, business developers and market analysts, through to corporate finance, risk teams and investors.
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As the trusted source of commercial intelligence for the world's natural resources sector for more than 40 years, we empower clients to make better strategic decisions with objective analysis and advice. Find out more...
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Company report | Nov 2016
ConocoPhillips oil and gas exploration summary
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