Asset Report

Senegal Senegal – Bove exploration basin

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05 September 2017

Senegal Senegal – Bove exploration basin

Report summary

The Senegal-Bove Basin sits on a passive margin in the eastern Atlantic. The Senegalese sector shares much of its geology with Mauritania to the north. In 2014 Cairn Energy made two large deepwater Cretaceous turbidite oil discoveries. These proved up an extension of the play that has provided large discoveries further southeast in Ghana. In 2015 Kosmos Energy made the multi-tcf Tortue gas discovery in Mauritania, and then proved up its extension south into Senegal in 2016. Kosmos subsequently discovered the Teranga gas field solely in Senegalese waters. Following a farm in by BP, in 2017 Kosmos discovered the nearby 15-tcf Yakaar field. The Senegal-Bove Basin has thus become a global exploration hotspot, with further E&A activity ongoing in the next few years. We analyse the remaining yet-to-find potential of the basin in Senegal and the achievable exploration metrics from future activity. All analysis, results and forecast metrics are available to download in pdf and excel format.

Table of contents

  • Key facts
    • Key issues include:
  • Location maps
  • Participation
  • Key companies
  • Geology
    • Wells drilled
    • Basin success rates
    • Volumes discovered
    • Yet-to-find potential
      • Play inputs
      • Model field pool size distribution
      • Existing discoveries and modelled yet-to-find pool size distribution
    • Yet-to-find costs and underlying development assumptions
  • Costs
    • Licensing
    • Fiscal terms
    • Oil and gas prices
    • TYP economics
    • Outlook economics
      • Development value
        • Cretaceous-Tertiary Deepwater Oil
        • Cretaceous-Tertiary Deepwater Gas
      • Prospect breakeven price
        • Cretaceous-Tertiary Deepwater Oil
        • Cretaceous-Tertiary Deepwater Gas
      • Expected monetary value (EMV)
      • Play economics
    • Full cycle basin economics
      • Implied acreage value

Tables and charts

This report includes 62 images and tables including:

  • Play level data
  • Assumptions
  • Value creation versus investment (TYP period)
  • Value creation versus investment (outlook)
  • Exploration history map
  • Exploration wells by play
  • Licensed exploration acreage
  • Expiry forecast of current licences
  • Key licence holders
  • Key well operators (TYP period)
  • Gross exploration wells completed by operator
  • Net exploration wells completed by participant
  • Company success rates and discoveries
  • Key play characteristics
  • Recent discovery costs
  • Summary of discovery and development costs
  • Exploration and appraisal spend
  • Exploration spend per well and average well depth
  • Commerciality index
  • Drilling activity by well type
  • Cumulative exploration wells by play
  • Discoveries and success rates
  • Discoveries by licence year and drilling year
  • Basin creaming curve
  • Key basin data
  • Volumes discovered by year
  • Average discovery size and volume per well by year
  • Top discoveries (TYP period)
  • Cumulative discoveries by play
  • Cumulative volumes discovered by play
  • Forecast data by Play (outlook)
  • Cretaceous-Tertiary Deepwater Oil
  • Cretaceous-Tertiary Deepwater Gas
  • Typical fiscal terms - deepwater contracts
  • Brent and local oil price assumptions
  • Gas price assumption
  • Value creation, spend and volume discovered
  • Returns by drilling year
  • Breakeven price versus prospect size
  • Value creation versus investment
  • Full-cycle economic analysis
  • Cretaceous-Tertiary Deepwater Oil
  • Reserves and resources: Table 4
  • Cretaceous-Tertiary Deepwater Gas
  • Table title goes here
  • Cretaceous-Tertiary Deepwater Oil
  • Reserves and resources: Table 7
  • Cretaceous-Tertiary Deepwater Oil
  • Cretaceous-Tertiary Deepwater Gas
  • Cretaceous-Tertiary Deepwater Oil
  • Cretaceous-Tertiary Deepwater Gas
  • Cretaceous-Tertiary Deepwater Oil
  • Cretaceous-Tertiary Deepwater Gas
  • Average value of future discoveries and implied acreage value
  • Value of potential discoveries
  • Unit value of potential discoveries
  • Value of potential discoveries
  • Unit value of potential discoveries
  • Breakeven price of exploration
  • Discount rate breakeven price sensitivities
  • Breakeven price of exploration
  • Discount rate breakeven price sensitivities

What's included

This report contains:

  • Document

    Senegal Senegal - Bove.zip

    ZIP 3.47 MB

  • Document

    Senegal Senegal – Bove exploration basin

    PDF 4.91 MB

  • Document

    Senegal Senegal – Bove exploration basin

    ZIP 8.25 MB