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13 Pages

Greenland Southwest Greenland exploration basin

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.

What's included?

This report includes 2 file(s)

  • Greenland Southwest Greenland exploration basin PDF - 591.34 KB 13 Pages, 11 Tables, 13 Figures
  • Greenland Southwest ZIP - 2.05 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
    • Key issues include:
  • Location maps
  • Participation
  • Geology
  • Exploration
  • Reserves and resources
    • Yet-to-find potential
      • Play inputs - Cretaceous Deepwater
  • Development
    • Yet-to-find costs and underlying development assumptions
  • Costs
  • Fiscal and regulatory
    • Licensing
    • Fiscal terms
  • Economic analysis
    • Prospect economics - Cretaceous Deepwater

In this report there are 24 tables or charts, including:

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