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Premier oil and gas exploration summary

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30 September 2019

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 has re-balanced its exploration portfolio away from mature areas to under-explored but proven basins. It has added acreage across its portfolio through both M&A and licensing rounds; Falklands/Malvinas (2012), Brazil (2013), Indonesia (2018, 2019). Mexico (2015, 2018) and US Alaska (2019), as well as building on its core legacy position in the UK North Sea (2016). Premier's position in Mexico was established via the first exploration licence round in 2015 where it was awarded Block 7 on which the Zama discovery was subsequently made in July 2017.

Table of contents

  • Upstream strategy
    • SWOT Grid
  • Evolution of exploration strategy
  • Well data
  • Emergence of Latin American exploration portfolio
  • Greater Catcher Area drives North Sea performance
  • Mixed success in Southeast Asia and Africa

Tables and charts

This report includes 20 images and tables including:

  • Net active exploration acreage by water depth
  • Net active conventional acreage by country
  • Exploration & appraisal spend and reinvestment
  • Exploration & appraisal spend by water depth
  • Exploration & appraisal spend by basin maturity
  • Discovery costs by water depth
  • 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 from new field discoveries, organic unconventionals and as a proportion of all future production
  • Full-cycle economics
  • Full cycle value creation by year
  • Exploration returns by year
  • Costs and development value by reserve category
  • Returns by water depth

What's included

This report contains:

  • Document

    Premier oil and gas exploration summary

    PDF 951.18 KB

  • Document

    Premier oil and gas exploration summary

    ZIP 1.09 MB

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