Insight
| |
6 Pages

Ripe for deals: 20,000 exploration blocks hiding 280 billion barrels of oil and gas


Ripe for deals: 20,000 exploration blocks hiding 280 billion barrels of oil and gas

Report summary

Wood Mackenzie and CGG Robertson's recently launched EV2 shows there is over 280 billion boe of undiscovered resource held in 20,000 blocks across 104 basins. EV2 is a unique exploration tool that shows the potential value and volume of undrilled acreage and highlights that the largest yet-to-find volume opportunities do not always coincide with the largest value creation potential. 

Of the 280 billion BOE, over 70% of lies in unlicensed acreage. Within the licensed blocks, although the Majors hold acreage with some of the best volume potential, this rarely translates into value under our base case oil price assumption. This suggests the Majors’ exploration portfolios are geared towards an oil price recovery.  Conversely, the acreage with the most appealing value potential is typically licensed to National Oil Companies (NOCs) and small International Oil Companies (IOCs). There is a range of reasons for this, but it sets the stage for some renewed deal activity in this sector.


What's included?

This report includes 1 file(s)

  • Ripe for deals: 20,000 exploration blocks hiding 280 billion barrels of oil and gas PDF - 1.13 MB 6 Pages, 1 Tables, 6 Figures

Description

This Oil and Gas Exploration Insight report highlights the key issues surrounding this topic, and draws out the implications for those involved.

For participants, suppliers and advisors who want to look at the trends, risks and issues of this topic, this report gives you an expert point of view to help inform your decision making.

Wood Mackenzie provides accurate and in-depth analysis to help you navigate the ever-changing challenges of oil and gas exploration so you can make key commercial decisions.

  • 280 billion boe of yet-to-find resource in over 100 exploration basins
  • Open acreage and blocks licensed to Majors hold the best volume potential
  • NOCs and small IOCs hold acreage with the best value potential
  • What does the future hold?

In this report there are 7 tables or charts, including:

  • 280 billion boe of yet-to-find resource in over 100 exploration basins
    • Ripe for deals: 20,000 exploration blocks hiding 280 billion barrels of oil and gas: Image 2
  • Open acreage and blocks licensed to Majors hold the best volume potential
    • Large volumes can be found in open acreage, but best value is generally held in Licensed Blocks
    • Base price
    • High price
  • NOCs and small IOCs hold acreage with the best value potential
    • NOCs and small IOCs hold the blocks with the best value potential
  • What does the future hold?
    • Price table
Requester's name : .............
Department : .............
Authoriser's Name : .............
Authoriser's signature : .............
Date : .............
Cost Centre : .............

Questions about this report?

Frequently Asked Questions

Mailenquiries@woodmac.com
  • Europe: +44 131 243 4699
  • Americas: +1 713 470 1900
  • Asia Pacific: +61 2 8224 8898
contact us

Why Wood Mackenzie?

Wood Mackenzie, a Verisk Analytics business, has been a trusted source of commercial intelligence for the world's natural resources sector for more than 40 years, empowering clients to make better strategic decisions with objective analysis and advice.

We work across every sector of oil, gas, power, renewables, chemicals, metals and mining, covering more than 150 countries. Our proprietary data and models are at the core of everything we do, ensuring our independent asset and company valuations are thoroughly robust and that we offer an accurate forward-looking view of economic indicators such as market supply, demand and price trends.

Our 500+ analysts are based in the regions they cover, cultivating an unrivalled depth of understanding to help clients accurately identify new opportunities, define their strategy and improve business performance.

At every stage, our teams readily collaborate and share their insight to provide an integrated perspective across entire industries. It is this unique and rigorous analytical approach that ensures we are recognised as the industry standard by the world’s most innovative organisations.