Asset Report

Greenland Southwest Greenland exploration basin

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31 March 2016

Greenland Southwest Greenland exploration basin

Report summary

 The Southwest Greenland Basin remains a highly under-explored frontier area. Whilst the area contains high subsurface potential and is governed by a reasonably attractive fiscal regime, exploration comes with significant technical and commercial challenges. The most recent drilling activity was carried out in 2011 when Cairn Energy operated two rigs to complete five deepwater wells, one of which was a re-entry. All of these wells were dry holes, but future exploration is anticipated to continue to target deepwater Cretaceous prospects. There are numerous challenges in the basin, including; the absence of any in-place infrastructure; the deep water environment; and difficulty in mobilising equipment to this remote Arctic location. This is compounded by the current low oil price environment, which is placing increased pressure on budgets. Drilling is not expected to return to the basin until the oil price has recovered, and we have forecast exploration drilling to return in 2020.

Table of contents

Tables and charts

This report includes 24 images and tables including:

  • Key play data
  • Assumptions
  • Price assumptions
  • Value creation versus investment (TYP period)
  • Value creation versus investment (outlook)
  • Exploration wells by play
  • Licensed exploration acreage
  • Expiry forecast of current licences
  • Key play characteristics
  • Drilling activity by well type
  • Cumulative exploration wells by play
  • Summary of discovery and development costs
  • Exploration and appraisal spend
  • TYP value creation, spend and volumes discovered
  • Outlook value creation, spend and YTF volumes
  • Commerciality index
  • Cretaceous Deepwater
  • Typical fiscal terms
  • Unit value of potential discoveries
  • Prospect breakeven prices
  • Expected monetary value (EMV)
  • Full-cycle economic analysis
  • Frontier methodology parameters
  • Key play data

What's included

This report contains:

  • Document

    Greenland Southwest

    ZIP 2.05 MB

  • Document

    Greenland Southwest Greenland exploration basin

    PDF 591.34 KB

  • Document

    Greenland Southwest Greenland exploration basin

    ZIP 2.57 MB

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