Global Exploration: 2015 in review

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Report summary

Over the last 12 months, exploration has been materially affected by the sustained low oil-price. Many companies shifted away from exploration towards appraisal of discovered resource in an attempt to prove commerciality. However, despite the headline numbers from exploration in 2015 appearing stark, results have not been as negative as first appear. Explorers have been able to achieve more, with less as key discoveries in Egypt, Mauritania, Guyana and Colombia have provided a timely reminder of the potential upside from frontier exploration.

What's included

This report contains

  • Document

    Global Exploration: 2015 in review

    PDF 504.28 KB

Table of contents

    • Drilling and volumes down - particularly for oil
    • Giant and large finds
    • Play openers
    • Company performance
    • Results against 2015 predictions

Tables and charts

This report includes 11 images and tables including:


  • Conventional new field volumes discovered
  • Volumes discovered - excluding mega-plays
  • Conventional new field discovery costs
  • Exploration well success rates
  • Distribution of giant and large oil and gas discoveries
  • Top 30 companies by conventional new field volumes discovered
  • Top 15 countries by conventional new field volumes discovered
  • E&A drilling by basin maturity
  • Proportion of E&A drilling activity


  • Increases from our initial estimate of global new field resources discovered (2010-2015)
  • Play openers, and key follow-up discoveries

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