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Premier oil and gas exploration summary

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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.

What's included

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Table of contents

  • Executive summary
  • 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:

Images

  • Basins drilled and all conventional & organic unconventional discoveries 2007-2016
  • Investment and costs: Image 1
  • Investment and costs: Image 2
  • Exploration & appraisal spend by basin maturity
  • Discovery costs by water depth
  • Net active exploration acreage by water depth
  • Net active conventional acreage by country
  • Exploration wells drilled and spend per well
  • Exploration success rates
  • 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

Tables

  • Ten year performance summary
  • Investment and costs: Table 1
  • Investment and costs: Table 2
  • Full-cycle economics
  • Gross conventional exploration & appraisal wells by basin and sector
  • All discoveries (2007 to 2016)
  • Strategy: Table 1

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