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21 Pages

UK Moray Firth exploration basin


UK Moray Firth exploration basin

Report summary

The UK's Moray Firth Basin is a proven province where significant oil and gas volumes have been discovered over the last four decades. Our outlook assumes companies will continue to focus on prospects in the Late Jurassic/Cretaceous play as this is where the material volumes are thought to exist. The giant Buzzard oil discovery of 2001 demonstrated the potential for large hydrocarbon finds within stratigraphic traps in the basin, whilst the large Golden Eagle discovery was made in the play in 2007. Exploring for stratigraphic traps in the basin carries potential for larger finds, but the difficulty in identifying hydrocarbon-bearing reservoirs makes these prospects high risk. Positive economics in our Outlook period are driven by the liquid nature of prospects, short lead times and moderate fiscal terms. 

What's included?

This report includes 2 file(s)

  • UK Moray Firth exploration basin PDF - 714.25 KB 21 Pages, 15 Tables, 21 Figures
  • UK - Moray Firth.zip ZIP - 2.39 MB

Description

Oil and gas exploration is an industry in constant motion, from technological breakthroughs to shifting supply and demand. 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 Basin report provides a detailed analysis of exploration of this basin, including discovery and development costs, location maps and information about licensing and fiscal terms. You'll also find information about discovery and development costs and full-cycle returns.

Explorers and advisors can use this report to understand the history and potential value of this basin.

Wood Mackenzie has access to historic data for over 450 basins and forecasts for more than 125 basins. We provide accurate information on the cost of exploration compared to the value of discoveries so that you can develop profitable strategies.

Our in-depth analysis gives you the information you need to navigate the ever-changing challenges of oil and gas exploration so you can make critical commercial decisions.

  • Key facts
  • Summary and key issues
    • Key issues include:
  • Location maps
  • Participation
  • Geology
    • Key play characteristics
  • Exploration
    • Wells drilled and success rate
  • Reserves and resources
    • Volumes discovered
    • Yet-to-find potential
      • Play inputs
        • Creaming curve and key play data
      • Model field pool size distribution
  • Development
    • Yet-to-find costs and underlying development assumptions
  • Costs
  • Fiscal and regulatory
    • Licensing
    • Fiscal terms
  • Economic analysis
    • TYP and outlook economics
      • Prospect economics
        • Late Jurassic/Early Cretaceous
        • Expected monetary value (EMV)
        • Full cycle basin economics
          • Full cycle economic analysis

In this report there are 36 tables or charts, including:

  • Key facts
    • Key play data
    • Assumptions
    • Price assumptions
  • Summary and key issues
    • Value creation versus investment (TYP period)
    • Value creation versus investment (outlook)
    • Commerciality index
  • Location maps
    • Exploration history map
    • Exploration wells by play
  • Participation
    • Participation: Image 1
    • Expiry forecast of current licences
  • Geology
    • Geology: Table 1
  • Exploration
    • Drilling activity by well type
    • Exploration: Image 2
  • Reserves and resources
    • Basin creaming curve
    • Key basin data
    • Reserves and resources: Image 2
    • Reserves and resources: Image 3
    • Top discoveries (TYP period)
    • Cumulative discoveries by play
    • Cumulative volumes discovered by play
    • Forecast data by Play (outlook)
    • Late Jurassic/Early Cretaceous
    • Reserves and resources: Table 4
    • Late Jurassic/Early Cretaceous
  • Development
    • Late Jurassic/Early Cretaceous
  • Costs
    • Recent discovery costs
    • Summary of discovery and development costs
    • Exploration and appraisal spend
    • Exploration spend per well and average well depth
  • Fiscal and regulatory
    • Typical fiscal terms
  • Economic analysis
    • TYP value creation, spend and volumes discovered
    • Outlook value creation, spend and volumes discovered
    • Unit value of potential discoveries
    • Prospect breakeven prices
    • Late Jurassic/Early Cretaceous
    • Economic analysis: Table 2
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