Company report
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18 Pages

Total oil and gas exploration summary


Total oil and gas exploration summary

Report summary

Total has a geographically diverse exploration portfolio. It has a large exposure to deepwater, particularly in West Africa, and a portfolio that ranks second only to Shell amongst the Majors. Total’s exploration performance has lagged behind that of its peers and its strategy is now to balance material volume additions through high-impact exploration, with lower-risk drilling. It will invest 25% of its annual exploration budget on frontier prospects, a further 25% in near-field exploration around existing discoveries, and the remaining 50% focused on core and emerging basins.

This report analyses Total’s recent conventional and unconventional exploration performance, and reviews its strategy for future success. It is one of a series reports which evaluates and benchmarks the exploration results of the top 40 exploration companies. It includes analysis of discovered volume, full-cycle value creation and returns, and is accompanied by a detailed excel download.


What's included?

This report includes 2 file(s)

  • Total oil and gas exploration summary PDF - 568.53 KB 18 Pages, 6 Tables, 18 Figures
  • Total.xls XLS - 654.00 KB

Description

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
    • Basins drilled and all conventional & organic unconventional discoveries 2007-2016
    • Ten year performance summary
  • Strategy
    • Upstream strategy
    • Exploration strategy
    • Evolution of exploration strategy
  • Investment and costs
  • Exploration
    • Well data
  • Reserves and resources
  • Production
    • Production from new field discoveries and unconventionals
  • Valuation
    • Highly diverse portfolio, hard hit by falling oil prices
    • Higher-risk strategy in reaction to low success
    • International unconventionals delivers some value
    • Lower 48 organic unconventionals position stymied by low oil prices

In this report there are 24 tables or charts, including:

  • Executive summary
    • Executive summary: Image 1
    • Executive summary: Table 1
  • 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 (2007 to 2016)
    • Key organic unconventional plays
    • Volumes discovered by year
    • Volumes discovered by water depth
    • Volumes discovered by country
    • Volumes discovered by basin
  • Production
    • Production: Image 1
  • Valuation
    • Full-cycle economics
    • Full cycle value creation by year, incl. unconventionals
    • Exploration returns by by year, incl. unconventionals
    • Costs and development value by reserve category
    • Exploration returns by water depth
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