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28 Pages

Falkland Malvinas Islands North Falkland exploration basin

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.

What's included?

This report includes 2 file(s)

  • Falkland Malvinas Islands North Falkland exploration basin PDF - 2.30 MB 28 Pages, 21 Tables, 30 Figures
  • FalklandMalvinas Islands North ZIP - 2.62 MB


Oil and gas exploration is an industry in constant motion, from technological breakthroughs to shifting supply and demand. 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 Basin report provides a detailed analysis of exploration of this basin, including discovery and development costs, location maps and information about licensing and fiscal terms. You'll also find information about discovery and development costs and full-cycle returns.

Explorers and advisors can use this report to understand the history and potential value of this basin.

Wood Mackenzie has access to historic data for over 450 basins and forecasts for more than 125 basins. We provide accurate information on the cost of exploration compared to the value of discoveries so that you can develop profitable strategies.

Our in-depth analysis gives you the information you need to navigate the ever-changing challenges of oil and gas exploration so you can make critical commercial decisions.

  • Key facts
  • Summary and key issues
  • Location maps
  • Participation
  • Key companies
    • Licensing participation
    • Well participation
    • Company success rates
  • Geology
    • Key play characteristics
  • Exploration
    • Wells drilled
    • Basin success rates
  • Reserves and resources
    • 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
  • Development
    • Yet-to-find costs and underlying development assumptions
  • Costs
  • Fiscal and regulatory
    • Licensing
    • Fiscal terms
  • Economic analysis
    • 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

In this report there are 51 tables or charts, including:

  • Key facts
    • Key play characteristics
    • Key assumptions
    • Key facts: Table 3
  • Summary and key issues
    • Value creation versus investment (2006-2015)
    • Value creation versus investment (2016-2035)
    • Summary and key issues: Image 3
  • Location maps
    • Exploration history map
    • Exploration wells by play
  • Participation
    • Licensed exploration acreage
    • Expiry forecast of current licences
  • Key companies
    • 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
    • Geology: Table 1
  • Exploration
    • Drilling activity by well type
    • Cumulative exploration wells by play
    • Discoveries and success rates
    • Discoveries by licence year and drilling year
  • Reserves and resources
    • 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)
    • Early Cretaceous Shelf
    • Reserves and resources: Table 4
    • Reserves and resources: Table 5
    • Early Cretaceous Shelf
  • Development
    • Development: Table 1
  • Costs
    • Recent discovery costs
    • Summary of discovery and development costs
    • Exploration and appraisal spend
    • Exploration spend per well and average well depth
  • Fiscal and regulatory
    • Bonuses, Rentals and Fees
    • Typical fiscal terms
  • Economic analysis
    • Value creation, spend and volume discovered
    • Returns by drilling year
    • Breakeven price versus prospect size
    • Value creation versus investment
    • Value of potential discoveries
    • Unit value of potential discoveries
    • Breakeven price of exploration
    • Discount rate breakeven price sensitivities
    • Economic analysis: Table 1
    • Early Cretaceous Shelf
    • Full-cycle economic analysis
    • Average value of future discoveries and implied acreage value
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