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Premier oil and gas exploration summary

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07 November 2017

Premier oil and gas exploration summary

Report summary

Premier's growth strategy has been much more M&A-led than many of its peers, but it shifted its exploration focus in the second half of the decade of our study period by adding higher-impact opportunities. The company extended its portfolio outside of it's legacy Southeast Asia position to gain a better balance of emerging and mature opportunities. It has added acreage across its portfolio through both M&A and licensing rounds; in South America, Falklands/Malvinas (2012), Brazil (2013) and Mexico (2015) before building on its core legacy position in the UK North Sea (2016). This provides a combination of near-field and higher-impact opportunities where capital discipline will be required to test only the best prospects in this low oil price environment.

Table of contents

  • Executive summary
    • Upstream strategy
    • Exploration strategy
      • SWOT Grid
    • Evolution of exploration strategy
  • Investment and costs
    • Well data
    • Resource additions for conventional new field discoveries are tabulated below. Premier has not added any organic unconventional plays during the decade.
    • Production from new field discoveries, organic unconventionals and as a proportion of all future production
    • Mixed success in Southeast Asia
    • Greater Catcher Area drives North Sea performance
    • Emergence of Latin American exploration portfolio
    • African campaigns disappoint

Tables and charts

This report includes 25 images and tables including:

  • Basins drilled and all conventional & organic unconventional discoveries 2007-2016
  • Ten year performance summary
  • Investment and costs: Table 1
  • Investment and costs: Table 2
  • Investment and costs: Image 1
  • Investment and costs: Image 2
  • Exploration & appraisal spend by basin maturity
  • Discovery costs by water depth
  • Full-cycle economics
  • Net active exploration acreage by water depth
  • Net active conventional acreage by country
  • Gross conventional exploration & appraisal wells by basin and sector
  • Exploration wells drilled and spend per well
  • Exploration success rates
  • All discoveries (2007 to 2016)
  • Volumes discovered by year
  • Volumes discovered by water depth
  • Volumes discovered by country
  • Volumes discovered by basin
  • Production: Image 1
  • Full cycle value creation by year
  • Exploration returns by year
  • Costs and development value by reserve category
  • Returns by water depth
  • Strategy: Table 1

What's included

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