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16 Pages

Repsol oil and gas exploration summary


Repsol oil and gas exploration summary

Report summary

Repsol has made major progress re-establishing its position after the expropriation of YPF by Argentina in 2012. It has built a strong portfolio which has the potential to perform well on reserves replacement and production growth metrics following its top-tier exploration performance over the last decade, when it added over 3.5 billion boe of new field resource. The upstream and exploration portfolio is still dominated by conventional onshore and offshore acreage, but deepwater is becoming increasingly important, with future value from recent discoveries concentrated in Latin America (mainly Brazil) and the US Gulf of Mexico. After the Talisman acquisition and the need to rationalise the portfolio,  there has been a re-alignment of strategic priorities, and further exploration has been de-emphasised in the short-term. Repsol will now focus on appraising and developing its pipeline of projects, whilst seeking efficiencies in exploration activity.


What's included?

This report includes 2 file(s)

  • Repsol oil and gas exploration summary PDF - 501.37 KB 16 Pages, 5 Tables, 16 Figures
  • Repsol.xls XLS - 581.50 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 & organic discoveries 2006-2015
  • Strategy
    • Upstream strategy
    • Exploration outlook
    • Evolution of exploration strategy
  • Investment and costs
  • Exploration
    • Well data
  • Reserves and resources
    • Scope of this report
  • Production
    • Production from new field discoveries and organic unconventionals, and as a proportion of all future production
  • Valuation
    • Deepwater Brazil underpins performance and upside is substantial
    • Steady performance from legacy areas
    • Growing deepwater focus outside of Brazil did not deliver

In this report there are 21 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 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
  • Production
    • Production: Image 1
  • Valuation
    • Full-cycle economics
    • Full cycle value creation by year, with uncons
    • Exploration returns by year, with uncons
    • Costs and development value by reserve category
    • Exploration returns by water depth
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