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14 Pages

DEA oil and gas exploration summary

DEA oil and gas exploration summary

Report summary

Exploration in its core North Sea and North African regions has been the key driver of organic growth for RWE Dea over the last ten years. The new field resources RWE Dea discovered over 2005-2014 amount to a reserve replacement ratio of 280%, most of which is classified as commercial. The large volumes discovered in North Africa (principally gas in Algeria and Egypt, and oil in Libya) mean that it achieved low discovery costs despite a relatively high exploration re-investment rate. The company's emphasis on exploration is a reflection of its continuing need to address declining production, which fell by nearly a third over the decade. RWE Dea's modest value creation from this activity reflects its heavy investment in exploration relative to production strength, its focus on gas, and the subdued returns achievable from long-life gas developments. Tough fiscal terms in North Africa have also diminished returns.

What's included?

This report includes 2 file(s)

  • DEA oil and gas exploration summary PDF - 471.67 KB 14 Pages, 5 Tables, 18 Figures
  • Dea.xls XLS - 498.50 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
  • Strategy
    • Upstream strategy and exploration outlook
    • Evolution of exploration strategy
  • Investment and costs
  • Exploration
    • Well data
  • Reserves and resources
    • Scope of this report
  • Production
  • Valuation
    • Full-cycle economics

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

  • Executive summary
    • Basins drilled and major discoveries 2005-2014
    • Ten year performance summary
  • Strategy
    • Strategy: Table 1
    • 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 (2005 to 2014)
    • Volumes discovered by year
    • Volumes discovered by water depth
    • Volumes discovered by country
    • Volumes discovered by basin
  • Production
    • Production from new field discoveries
  • Valuation
    • Valuation: Table 1
    • Full cycle value creation by year
    • Exploration returns by year
    • Value creation by reserve category
    • Value creation by water depth
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