Liberia's history of political and economic instability, combined with the Ebola outbreak in 2014, has resulted in little to no exploration in past couple of years. The country's position along the West African Transform Margin made it attractive to explorers looking to replicate the recent success in countries such as Ghana, however disappointing exploration results offshore Liberia and Sierra Leone have led to tapered expectations. All current acreage is in the deep to ultra-deepwater environment with high E&A costs and essentially zero infrastructure available. With no commercial fields and no existing infrastructure, early developments with have to support the cost of the country's upstream industry. High costs paired with modest success rates in a low price environment generates value destruction across the basin.