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14 Pages

OMV oil and gas exploration summary


OMV oil and gas exploration summary

Report summary

In recent years, OMV’s strategy has been to build a material production hub in the North Sea and diversify away from high above-ground risk regions. In late 2015, OMV announced a new strategic direction. It will maintain production by gaining access to low-cost discovered resource opportunities. OMV will also cut exploration spend by more than 50% over the next two years. Exploration spend in 2016 will be US$479 million, reducing to US$232 million in 2017.

What's included?

This report includes 2 file(s)

  • OMV oil and gas exploration summary PDF - 522.67 KB 14 Pages, 5 Tables, 18 Figures
  • OMV.xls XLS - 564.50 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
    • Basins drilled and all conventional and organic unconventional discoveries 2006-2015
  • Strategy
    • Upstream strategy
    • Exploration outlook
    • Evolution of exploration strategy
  • Investment and costs
  • Exploration
    • Well data
  • Reserves and resources
  • Production
  • Valuation
    • Romanian Black Sea volumes balance declining onshore exploration
    • Large volumes in the Middle East and North Africa
    • Maintaining stable costs over the decade

In this report there are 23 tables or charts, including:

  • Executive summary
    • Executive summary: Image 1
    • Ten year performance summary
  • Strategy
    • SWOT Grid
    • Net active exploration acreage by water depth
    • Net active 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
    • Top 40 discoveries (2006 to 2015)
    • Volumes discovered by year
    • Volumes discovered by water depth
    • Volumes discovered by country
    • Volumes discovered by basin
  • Production
    • Production from new field discoveries and organic unconventionals, and as a proportion of all future production
  • Valuation
    • Full Cycle Economics
    • Full cycle value creation by year
    • Exploration returns by year
    • Value creation by reserve category
    • Value creation by water depth
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