Insight

Exploration outperformance - sustainable or cyclical?

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A comparison of our latest ranking of company exploration performance with a similar analysis that we published back in 2005 reveals a remarkable absence of correlation.  Today's top explorers, by and large, are not the same as those of a decade earlier. Strong results generally reflect commanding acreage positions in key emerging plays.  Such plays may hold a few years' running room, but eventually mature, and the explorer needs to renew its basins of focus.  This imparts a fundamental...

Table of contents

  • Executive summary
  • Whatever happened to the exploration class of 2005?
  • Sustaining outperformance is hard – how long can top explorers stay ahead?
  • Some reversion to the mean is inevitable for explorers
  • Exploration cyclicity can be balanced with other renewal options
  • Top explorers of the recent past are preparing their comeback

Tables and charts

This report includes 3 images and tables including:

  • Ten year performance ranking by IRR (1995-2004 versus 2003-2012)
  • Cyclical exploration performance model
  • Exploration outperformance - sustainable or cyclical?: Image 3

What's included

This report contains:

  • Document

    Exploration outperformance - sustainable or cyclical?

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