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Repsol oil and gas exploration summary

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30 September 2019

Repsol oil and gas exploration summary

Report summary

Emerging from the downturn, disciplined "value growth" is back on the agenda for Repsol. It has exposure to a wide range of exploration plays and a footprint that is more akin to that of a Major. It has the benefit of a number of world-class, high-risk but potentially high reward opportunities that could drive future exploration outperformance. Recent drilling has targeted low cost, high return opportunities, while portfolio additions are replenishing the inventory (eg. Brazil, Mexico). High-impact exploration is expected to grow, with the aim of delivering longer-term growth. While it will target a number of large and giant prospects in the US GoM, Guyana, Mexico and Indonesia, it will balance this with low cost, high return opportunities. Three areas of focus have emerged from the diverse portfolio; North America, South America and Eastern hemisphere.

Table of contents

  • Upstream strategy
    • SWOT grid
  • Evolution of exploration strategy
  • Well data
    • Deepwater Brazil underpins performance and upside is substantial
    • Onshore US Alaska a source of huge volume and value upside
    • Steady performance from legacy areas
    • Growing deepwater focus outside of Brazil did not deliver

Tables and charts

This report includes 20 images and tables including:

  • Net active exploration acreage by water depth
  • Net active exploration acreage by country
  • Exploration & appraisal spend and reinvestment
  • Exploration & appraisal spend by water depth
  • Exploration & appraisal spend by basin maturity (2008-2017)
  • Discovery costs by water depth (2008-2017)
  • Gross exploration & appraisal wells by basin and sector (2009-2018)
  • Exploration wells drilled and spend per well
  • Exploration success rates
  • Top 40 discoveries (2008 to 2017)
  • Volumes discovered by year
  • Volumes discovered by water depth
  • Volumes discovered by country
  • Volumes discovered by basin
  • Production from new field discoveries and organic unconventionals, and as a proportion of all future production
  • 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

What's included

This report contains:

  • Document

    Repsol oil and gas exploration summary.xlsx

    XLSX 286.22 KB

  • Document

    Repsol oil and gas exploration summary

    PDF 960.82 KB

  • Document

    Repsol oil and gas exploration summary

    ZIP 1.11 MB

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