Asset report

Falkland Malvinas Islands North Falkland exploration basin

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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.

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    FalklandMalvinas Islands North Falkland.zip

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Table of contents

Tables and charts

This report includes 51 images and tables including:

Images

  • 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
  • Exploration and appraisal spend
  • Exploration spend per well and average well depth
  • Gross exploration wells completed by operator
  • Net exploration wells completed by participant
  • Drilling activity by well type
  • Cumulative exploration wells by play
  • Discoveries and success rates
  • Discoveries by licence year and drilling year
  • Basin creaming curve
  • Volumes discovered by year
  • Average discovery size and volume per well by year
  • Cumulative discoveries by play
  • Cumulative volumes discovered by play
  • Value creation, spend and volume discovered
  • Returns by drilling year
  • Breakeven price versus prospect size
  • Value creation versus investment
  • Early Cretaceous Shelf
  • Early Cretaceous Shelf
  • Value of potential discoveries
  • Unit value of potential discoveries
  • Breakeven price of exploration
  • Discount rate breakeven price sensitivities

Tables

  • Key play characteristics
  • Key assumptions
  • Key facts: Table 3
  • Recent discovery costs
  • Summary of discovery and development costs
  • Key licence holders
  • Key well operators (2006-2015)
  • Company success rates and discoveries
  • Geology: Table 1
  • Key basin data
  • Top discoveries (TYP period)
  • Forecast data by Play (Outlook)
  • Development: Table 1
  • Bonuses, Rentals and Fees
  • Typical fiscal terms
  • Full-cycle economic analysis
  • Average value of future discoveries and implied acreage value
  • Reserves and resources: Table 5
  • Economic analysis: Table 1
  • Early Cretaceous Shelf
  • Reserves and resources: Table 4

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