Asset Report

Falkland Malvinas Islands North Falkland exploration basin

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13 July 2016

Falkland Malvinas Islands North Falkland exploration basin

Report summary

The North Falkland Basin comprises 99,000 square kilometres of the Falkland/Malvinas offshore territory in water depths ranging up to 1,200 metres. There is currently no hydrocarbon production, however the Sea Lion oil discovery is currently in FEED and further commercialisation of nearby discoveries could follow. Operators have an improved geological understanding of the basin, where exploration wells often target overlapping fans and stacked pay. The exploration wells to date have been focused on a small area, leaving the majority of the basin unexplored. Value creation is possible in the basin despite risks and moderate YTF potential. Political tension with Argentina is a key risk, as British sovereignty is strongly disputed. Sanctions by Latin American countries add to logistical and operational challenges posed by the remoteness of this region of the world.

Table of contents

  • Key facts
  • Summary and key issues
  • Location maps
  • Participation
    • Licensing participation
    • Well participation
    • Company success rates
    • Key play characteristics
    • Wells drilled
    • Basin success rates
    • Volumes discovered
    • Yet-to-find potential
      • Play inputs
        • Creaming curve and key play data
      • Model field pool size distribution
      • Existing discoveries and modelled yet-to-find pool size distribution
    • Yet-to-find costs and underlying development assumptions
  • Costs
    • Licensing
    • Fiscal terms
    • TYP economics
    • Outlook economics
      • Development value
        • Early Cretaceous Shelf
      • Prospect breakeven price
        • Early Cretaceous Shelf
      • Expected monetary value (EMV)
      • Play economics
    • Full cycle basin economics
    • Implied acreage value

Tables and charts

This report includes 51 images and tables including:

  • Key play characteristics
  • Key assumptions
  • Key facts: Table 3
  • Value creation versus investment (2006-2015)
  • Value creation versus investment (2016-2035)
  • Summary and key issues: Image 3
  • Exploration history map
  • Exploration wells by play
  • Licensed exploration acreage
  • Expiry forecast of current licences
  • Recent discovery costs
  • Summary of discovery and development costs
  • Exploration and appraisal spend
  • Exploration spend per well and average well depth
  • Key licence holders
  • Key well operators (2006-2015)
  • Gross exploration wells completed by operator
  • Net exploration wells completed by participant
  • Company success rates and discoveries
  • Geology: Table 1
  • Drilling activity by well type
  • Cumulative exploration wells by play
  • Discoveries and success rates
  • Discoveries by licence year and drilling year
  • Basin creaming curve
  • Key basin data
  • Volumes discovered by year
  • Average discovery size and volume per well by year
  • Top discoveries (TYP period)
  • Cumulative discoveries by play
  • Cumulative volumes discovered by play
  • Forecast data by Play (Outlook)
  • Development: Table 1
  • Bonuses, Rentals and Fees
  • Typical fiscal terms
  • Value creation, spend and volume discovered
  • Returns by drilling year
  • Breakeven price versus prospect size
  • Value creation versus investment
  • Full-cycle economic analysis
  • Average value of future discoveries and implied acreage value
  • Reserves and resources: Table 5
  • Early Cretaceous Shelf
  • Economic analysis: Table 1
  • Early Cretaceous Shelf
  • Early Cretaceous Shelf
  • Reserves and resources: Table 4
  • Value of potential discoveries
  • Unit value of potential discoveries
  • Breakeven price of exploration
  • Discount rate breakeven price sensitivities

What's included

This report contains:

  • Document

    FalklandMalvinas Islands North Falkland.zip

    ZIP 2.62 MB

  • Document

    Falkland Malvinas Islands North Falkland exploration basin

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    Falkland Malvinas Islands North Falkland exploration basin

    ZIP 4.80 MB