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10 Pages

Global Exploration: 2014 in review

Global Exploration: 2014 in review

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.

What's included?

This report includes 2 file(s)

  • Global Exploration: 2014 in review PDF - 696.72 KB 10 Pages, 2 Tables, 10 Figures
  • Global Exploration - 2014 in review.xls XLS - 396.50 KB


This Oil and Gas Exploration Insight report highlights the key issues surrounding this topic, and draws out the implications for those involved.

For participants, suppliers and advisors who want to look at the trends, risks and issues of this topic, this report gives you an expert point of view to help inform your decision making.

Wood Mackenzie provides accurate and in-depth analysis to help you navigate the ever-changing challenges of oil and gas exploration so you can make key commercial decisions.

  • 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
  • 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

In this report there are 12 tables or charts, including:

  • Executive summary
    • 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
  • A more cautious approach to exploration
    • Top 15 countries by volume discovered
    • Offshore volumes discovered by basin maturity
    • Total resources discovered by water depth (2014)
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