Insight
Oil and gas exploration: 2024 in review
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Report summary
2024 fell short of recent years’ success however significant volume and value upside remains. Total volumes of around 10 billion boe with around 1.5 billion boe currently classified as commercial or economically viable. Spend and well numbers dropped as the industry continues with strict capital discipline. We review costs, resources and returns to identify the themes, countries and companies that performed best over the year just ended. We project oil and gas production and free net cash flow that could be delivered by commercial and economically viable new resources.
Table of contents
- Executive summary
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