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16 Pages

Noble Energy oil and gas exploration summary


Noble Energy oil and gas exploration summary

Report summary

Noble Energy has historically used exploration as its primary engine of growth. In the low oil price environment, the 2015 exploration budget was halved, and in the near term, conventional E&A activity will take a back seat to exploiting strong positions in four core US resource plays. Over the past decade, Noble has opened frontier plays and enjoyed a period of outstanding success with wildcat drilling, particularly in the Eastern Mediterranean. Regulatory barriers to commercialisation of the giant gas resources here have been removed. We currently calculate full-cycle value creation of around US$2.4 billion from conventional exploration over the decade. Lower prices have pushed returns from unconventional exploration below 10%. 

What's included?

This report includes 2 file(s)

  • Noble Energy oil and gas exploration summary PDF - 654.84 KB 16 Pages, 6 Tables, 18 Figures
  • Noble Energy.xls XLS - 582.00 KB

Description

Affected by supply and demand, the economy of individual countries and technological breakthroughs, oil and gas exploration is an industry in constant motion. 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 Summary report quantifies the company's exploration volume and value performance over the past 10 years, and reviews its outlook for future success.

Businesses can use this report to get a detailed analysis of this company, what exploration areas they're involved in, what wells to watch and how well placed they are. It will help you understand company performance and shows how the best explorers have achieved their success.

Wood Mackenzie benchmarks exploration results for over 40 companies. Our analysts provide accurate information on the cost of exploration compared to the value of discoveries so that you can develop profitable strategies. We are the established global industry standard for oil and gas exploration performance.

  • Executive summary
  • Strategy
    • Upstream strategy
    • Exploration outlook
    • Evolution of exploration strategy
  • Investment and costs
  • Exploration
    • Well data
  • Reserves and resources
  • Production
  • Valuation
    • Giant volumes discovered at low cost
    • Higher-impact exploration brings greater complexity
    • Realising value from the giant gas finds will be challenging

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

  • Executive summary
    • Basins drilled and all conventional organic & unorganic discoveries 2006-2015
    • Ten year performance summary
  • Strategy
    • SWOT grid
    • Net active exploration acreage by water depth
    • Net active conventional exploration acreage by country
  • Investment and costs
    • Exploration & appraisal spend and reinvestment
    • Exploration & appraisal spend by water depth
    • Exploration & appraisal spend by basin maturity
    • Discovery costs by water depth
  • Exploration
    • Gross conventional exploration & appraisal wells by basin and sector
    • Exploration wells drilled and spend per well
    • Exploration success rates
  • Reserves and resources
    • Discoveries (2006 to 2015)
    • Reserves and resources: Table 2
    • Volumes discovered by year
    • Volumes discovered by water depth
    • Volumes discovered by country
    • Volumes discovered by basin
  • Production
    • Production from new field discoveries, organic unconventionals and as a proportion of all future production
  • Valuation
    • Full-cycle economics
    • Full cycle value creation by year, including unconventionals
    • Exploration returns by year, including unconventionals
    • Costs and development value by reserves category
    • Exploration returns by water depth
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