Insight
Global Exploration: 2014 in review
This report is currently unavailable
Report summary
Over the last twelve months, exploration has subtly shifted away from high-impact frontier wildcatting, towards lower-risk exploration in mature basins. This was encouraged by calls from shareholders for capital discipline and improved returns - and is a trend that we expect to be reinforced in 2015 in light of low oil prices. Preliminary results from 2014 indicate that explorers operating in proven basins delivered the best results - but that commercial success has been challenging to achieve.
Table of contents
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Executive summary
- Volumes down and discovery costs up
- Giant and large finds
- Play openers
- Russia and Sub-Sahara Africa are the top regions
- Company performance
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A more cautious approach to exploration
- Re-focusing on heartland regions
- Short-lead time plays favoured over high-impact frontier
- Deepwater beginning to lose its share
Tables and charts
This report includes 12 images and tables including:
- Increases from initial estimate of global new field resource
- Annual volumes discovered - all basins
- Annual volumes discovered - excluding mega-plays
- Annual discovery costs
- Distribution of giant and large oil and gas discoveries
- Play openers
- Discovered resource by region
- Commerciality of volumes by region
- Top 35 companies by volume
- Top 15 countries by volume discovered
- Offshore volumes discovered by basin maturity
- Total resources discovered by water depth (2014)
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