Company Report
ConocoPhillips oil and gas exploration summary
Report summary
North American unconventionals lie at the heart of ConocoPhillips' strategy. This is part of an investment shift towards flexible unconventional development and exploration in shorter-cycle, more competitive basins. The company posted a strong organic performance in the key liquids-rich plays, with excellent returns. A higher-impact conventional exploration strategy 2008-2015 yielded large volumes but value was elusive as resource commercialisation proved difficult. The emergence of a new Alaskan play has improved returns from conventional exploration and there is further upside from existing discoveries and future exploration. In this report, we analyse ConocoPhillips' conventional and unconventional exploration strategy and performance results in 2009-2018. The report includes a detailed data download.
Table of contents
- Upstream strategy
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Exploration outlook
- SWOT grid
- Evolution of exploration strategy
-
Well data
- Unconventionals out-perform
- Conventional exploration under-performance from a low-risk legacy strategy - now being re-booted
- Higher-impact strategy provided greater materiality but destroyed value, leading to exit
Tables and charts
This report includes 21 images and tables including:
- Net active exploration acreage by water depth
- Net active conventional 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 conventional exploration & appraisal wells by basin and sector
- Exploration wells drilled and spend per well
- Exploration success rates
- Top 40 discoveries (2009 to 2018)
- Key organic unconventional plays
- 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, including unconventionals
- Exploration returns by year, including unconventionals
- Costs and development value by reserve category
- Exploration returns by water depth
What's included
This report contains:
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