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44 Pages

Nigeria Niger Delta exploration basin


Nigeria Niger Delta exploration basin

Report summary

The Niger Delta is a world-class petroleum province where over 90 billion barrels of oil and gas have been discovered over the last six decades. Since 2008, the appetite for high-risk exploration has been impacted by fiscal uncertainty around Nigeria’s proposed Petroleum Industry Bill (PIB). Drilling levels have declined, particularly in deep and ultra-deepwater where changes could have a material impact on economics. Onshore, oil theft and vandalism continues to plague operators.

Despite significant challenges, the Niger Delta remains the most attractive basin in the region, with significant yet-to-find potential and opportunity for value creation. The highest returns will be realised onshore and on the shelf, where existing infrastructure aides development.

We review the results from recent exploration and analyse the yet-to-find potential and economics of future exploration activity. All analysis, results and forecast metrics are available to download in pdf and excel format.


What's included?

This report includes 2 file(s)

  • Nigeria Niger Delta exploration basin PDF - 1.22 MB 44 Pages, 36 Tables, 50 Figures
  • Nigeria Niger Delta.zip ZIP - 5.86 MB

Description

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
  • Key companies
  • Geology
  • Exploration
    • Wells drilled
    • Basin success rates
  • Reserves and resources
    • Volumes discovered
    • Yet-to-find potential
    • Play inputs
      • Creaming curve and key play data
    • Model field pool size distribution
      • Tertiary Ultra-Deepwater
    • Existing discoveries and modelled yet-to-find pool size distribution
  • Development
    • Yet-to-find costs and underlying development assumptions
      • Tertiary Onshore
      • Tertiary Shelf
      • Tertiary Deepwater
      • Tertiary Ultra-Deepwater
  • Costs
  • Fiscal and regulatory
    • Licensing
    • Petroleum Industry Bill and reform
    • Fiscal terms
  • Economic assumptions
    • Oil and gas prices
  • Economic analysis
    • TYP economics
    • Outlook economics
      • Development Value
        • Tertiary Onshore
        • Tertiary Shelf
        • Tertiary Deepwater
        • Tertiary Ultra-Deepwater
      • Prospect breakeven price
        • Tertiary Onshore
        • Tertiary Shelf
        • Tertiary Deepwater
        • Tertiary Ultra-Deepwater
      • Expected monetary value (EMV)
        • Tertiary Onshore
        • Tertiary Shelf
        • Tertiary Deepwater
      • Play economics
        • Tertiary Onshore
        • Tertiary Shelf
        • Tertiary Deepwater
        • Tertiary Ultra-deepwater
        • Full cycle basin economics
          • Implied acreage value

In this report there are 86 tables or charts, including:

  • Key facts
    • Play level data
    • Assumptions
  • Summary and key issues
    • Value creation versus investment (TYP period)
    • Value creation versus investment (outlook)
    • Commericality index
  • Location maps
    • Exploration history map
    • Exploration wells by play
  • Participation
    • Licensed exploration acreage
    • Expiry forecast of current licences
  • Key companies
    • Key licence holders
    • Key well operators (TYP period)
    • Gross exploration wells completed by operator
    • Net exploration wells completed by participant
    • Company success rates and discoveries
  • Geology
    • Key play characteristics
    • Reservoir characteristics
  • Exploration
    • Drilling activity by well type
    • Cumulative exploration wells by play
    • Discoveries and success rates
    • Discoveries by licence year and drilling year
  • Reserves and resources
    • Basin creaming curve
    • Key basin data
    • Volumes discovered by year
    • Average discovery size and volume per well by year
    • Top discoveries (TYP period)
    • Cumulative discoveries by play
    • Cumulative volumes discovered by play
    • Forecast data by play (outlook)
    • Tertiary Onshore
    • Reserves and resources: Table 4
    • Tertiary Shelf
    • Reserves and resources: Table 5
    • Tertiary Deepwater
    • Reserves and resources: Table 6
    • Tertiary Ultra-Deepwater
    • Reserves and resources: Table 7
    • Tertiary Onshore
    • Tertiary Shelf
    • Tertiary Deepwater
    • Reserves and resources: Table 11
    • Tertiary Onshore
    • Tertiary Shelf
    • Tertiary Deepwater
    • Tertiary Ultra-Deepwater
  • Development
    • Development: Table 1
    • Development: Table 2
    • Development: Table 3
    • Development: Table 4
  • Costs
    • Recent discovery costs
    • Summary of discovery and development costs
    • Exploration and appraisal spend
    • Exploration spend per well and average well depth
  • Fiscal and regulatory
    • Typical fiscal terms - Tertiary Onshore and Tertiary Shelf concessions
    • Typical fiscal terms - Tertiary Deepwater and Tertiary ultra-deepwater PSCs
  • Economic assumptions
    • All plays
    • Economic assumptions: Image 2
  • Economic analysis
    • Value creation, spend and volume discovered
    • Returns by drilling year
    • Breakeven price versus prospect size
    • Value creation versus investment
    • Value of potential discoveries
    • Unit value of potential discoveries
    • Value of potential discoveries
    • Unit value of potential discoveries
    • Value of potential discoveries
    • Unit value of potential discoveries
    • Value of potential discoveries
    • Unit value of potential discoveries
    • Economic analysis: Image 13
    • Economic analysis: Image 14
    • Economic analysis: Image 15
    • Economic analysis: Image 16
    • Economic analysis: Image 17
    • Economic analysis: Image 18
    • Economic analysis: Image 19
    • Economic analysis: Image 20
    • Economic analysis: Table 1
    • Economic analysis: Table 2
    • Economic analysis: Table 3
    • Economic analysis: Table 4
    • Economic analysis: Table 5
    • Economic analysis: Table 6
    • Economic analysis: Table 7
    • Economic analysis: Table 8
    • Full cycle economic analysis
    • Average value of future discoveries and implied acreage value
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