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 mature and emerging 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.
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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.
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Company report | Oct 2016
Premier oil and gas exploration summary
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