Company Report
Santos oil and gas exploration summary
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Report summary
The oil price collapse hit Santos at a time of maximum balance sheet stress, and the ramifications have been transformational. Santos announced a change in strategy in December 2016. The key focus was to drive shareholder value by maximising the performance of its core business. In order to achieve this, the company was re-organised around five core areas: Cooper Basin, GLNG, PNG, Northern Australia and Western Australian gas. The impact of the low oil prices on Santos' exploration has been significant. The exploration team has been downsized, restructured and budgets have been reduced. The company leveraged savings in rig, well evaluation and maintenance contracts to maximise activity within those budgets. This resulted in Santos' 2017 E&A activity focusing on less expensive onshore targets in Australia.
Table of contents
- Executive summary
-
Strategy
- Upstream strategy
- Exploration
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Other Santos research
- SWOT grid
- Evolution of exploration strategy
- Investment and costs
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Exploration
- Well data
- Reserves and resources
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Production
- Production from new field discoveries and unconventionals, and as a proportion of all future production
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Valuation
- Australian focus produced results
- Pioneering CSG to LNG project is transformational
Tables and charts
This report includes 24 images and tables including:
- Basins drilled and all conventional & organic unconventional discoveries 2008-2017
- Ten year performance summary
- Exploration & appraisal spend and reinvestment
- Exploration & appraisal spend by water depth
- Exploration & appraisal spend by basin maturity
- Discovery costs by water depth
- Discoveries (2008 to 2017)
- Key organic unconventional plays
- Volumes discovered by year
- Volumes discovered by water depth
- Volumes discovered by country
- Volumes discovered by basin
- Full-cycle economics
- Net active exploration acreage by water depth
- Net active conventional acreage by country
- Gross conventional exploration and appraisal wells by basin and sector
- Exploration wells drilled and spend per well
- Exploration success rates
- Production: Image 1
- 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
- Strategy: Table 1
What's included
This report contains:
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