Asset Report
UK Moray Firth exploration basin
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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. While exploring for stratigraphic traps in the basin carries potential for larger finds, the difficulty in identifying hydrocarbon-bearing reservoirs makes these prospects highrisk. Nonetheless it has continued to provide discoveries, including the large Golden Eagle discovery (2007) and Verbier (2017). Positive economics in our Outlook period are driven by the liquid nature of prospects, short lead times and attractive fiscal terms.
Table of contents
- Key facts
-
Summary and key issues
- Key issues include:
- Location maps
- Participation
-
Geology
- Key play characteristics
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Exploration
- Wells drilled and success rate
-
Reserves and resources
- Volumes discovered
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Prospective resource potential
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Play inputs
- Creaming curve and key play data
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Model field pool size distribution
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Play inputs
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Development
- Prospective resource costs and underlying development assumptions
- Costs
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Fiscal and regulatory
- Licensing
- Fiscal terms
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Economic analysis
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TYP and outlook economics
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Prospect economics
- Late Jurassic/Early Cretaceous
- Expected monetary value (EMV)
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Full cycle basin economics
- Full cycle economic analysis
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Prospect economics
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TYP and outlook economics
Tables and charts
This report includes 36 images and tables including:
- Key play data
- Assumptions
- Price assumptions
- Value creation versus investment (TYP period)
- Value creation versus investment (outlook)
- Exploration history map
- Exploration wells by play
- Participation: Image 1
- Expiry forecast of current licences
- Recent discovery costs
- Summary of discovery and development costs
- Exploration and appraisal spend
- Exploration spend per well and average well depth
- Commerciality index
- Geology: Table 1
- Drilling activity by well type
- Exploration: Image 2
- 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
- Typical fiscal terms
- TYP value creation, spend and volumes discovered
- Outlook value creation, spend and volumes discovered
- Late Jurassic/Early Cretaceous
- Late Jurassic/Early Cretaceous
- Reserves and resources: Table 4
- Unit value of potential discoveries
- Prospect breakeven prices
- Late Jurassic/Early Cretaceous
- Economic analysis: Table 2
What's included
This report contains:
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