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DEA oil and gas exploration summary

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26 October 2018

DEA oil and gas exploration summary

Report summary

In December 2017, BASF and LetterOne announced their plans to merge their respective oil and gas businesses in a joint venture through a letter of intent. This analysis covers DEA’s exploration performance between 2008-2017, excluding Wintershall. The company's exploration strategy includes a mix of near field drilling and higher risk/reward activity across its core countries (Norway, Germany, Denmark, Egypt and Algeria) and growth countries (Brazil and Mexico). In Europe, the company targets areas with existing infrastructure in Norway, onshore Germany, and Denmark. It aggressively built its portfolio in Norway through the study period, giving it a large inventory of prospects to target. DEA has identified Mexico and Brazil as countries where it can create long-term value through both organic exploration and selective M&A deals. The company is looking build a portfolio of attractive exploration, development and production assets in both countries.

Table of contents

  • Executive summary
    • Upstream strategy
    • Exploration strategy
    • Other DEA research
    • Evolution of exploration strategy
  • Investment and costs
    • Well data
  • Reserves and resources
  • Production
    • Egypt drives value creation and discovered resources
    • Norway is being established as a core area
    • Libya delivers big, sub-commercial, volumes
    • Domestic activity focused on supporting legacy fields

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
  • All discoveries (2008 to 2017)
  • Reserves and resources: Image 1
  • Reserves and resources: Image 2
  • Volumes discovered by country
  • Volumes discovered by basin
  • Production: Image 1
  • Full-cycle economics
  • Swot Grid
  • Strategy: Image 1
  • Strategy: Image 2
  • Gross exploration & appraisal wells by basin and sector
  • Exploration wells drilled and spend per well
  • Exploration success rates
  • Full cycle value creation by year
  • Exploration returns by year
  • Costs and development value by resource category
  • Returns by water depth

What's included

This report contains:

  • Document

    DEA oil and gas exploration summary

    PDF 990.65 KB

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