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17 Pages

Shell oil and gas exploration summary

Shell oil and gas exploration summary

Report summary

With completion of the BG deal in 2016, Shell entered a new era. Integration will allow Shell to rationalise the combined acreage and high-grade opportunities to develop a world-class global exploration portfolio. Shell's portfolio was already differentiated by its breadth and diversity and included near-field, high-return, incremental potential, new plays in producing 'heartland' basins and longer-term, high-impact, frontier opportunities. BG added acreage and assets in all of these themes. Shell's globally diverse portfolio has contributed great success in terms of resource additions over the last ten years. Wood Mackenzie estimates Shell's new field exploration and organic unconventional  strategy secured 14.2 bnboe on a working interest basis, 123% of the company's production. This has been driven by unconventional volumes in the US and Canada, as well as from the contribution from the conventional heartland regions of the US GoM deepwater, Australia, Nigeria and Malaysia/Brunei.

What's included?

This report includes 2 file(s)

  • Shell oil and gas exploration summary PDF - 642.28 KB 17 Pages, 6 Tables, 20 Figures
  • Shell.xls XLS - 651.00 KB


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
    • Map shows all conventional and unconventional discoveries. It excludes all unsuccessful unconventional exploration and all activity associated with assets not included within this report.
  • Strategy
    • Upstream strategy
    • Exploration outlook
      • Deepwater
      • Unconventionals
      • Evolution of exploration strategy
  • Investment and costs
  • Exploration
    • Well data
  • Reserves and resources
    • Resource additions for two types of asset are tabulated below - conventional new field discoveries and organic unconventional plays.
  • Production
  • Valuation
    • Reserve replacement driven by both heartland regions and unconventionals
    • Unlocking high-return incremental potential
    • Deepwater exploration also driving conventional performance
    • The integrated gas player

In this report there are 26 tables or charts, including:

  • Executive summary
    • Basins drilled and major discoveries 2006-2015
    • 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)
    • Key organic unconventional plays
    • Volumes discovered by year
    • Volumes discovered by water depth
    • Volumes discovered by country
    • Volumes discovered by basin
  • Production
    • Production from new field discoveries and organic unconventionals, and as a proportion of all future production
  • Valuation
    • Full-cycle economics
    • Full cycle value creation by year (conventional only)
    • Full cycle value creation by year, including unconventionals
    • Exploration returns by year (conventional only)
    • Exploration returns by year, including unconventionals
    • Value creation by resource category
    • Exploration returns by water depth
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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.

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