Asset Report
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. 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 Serenity (2019). Positive economics in our Outlook period are driven by the liquid nature of prospects, short lead times and attractive fiscal terms.
Table of contents
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Key issues include:
- Key play characteristics
- Wells drilled and success rate
- Volumes discovered
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Prospective resource potential
- Play inputs
- Creaming curve and key play data
- Model field pool size distribution
- Prospective resource costs and underlying development assumptions
- Licensing
- Fiscal terms
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TYP and outlook economics
- Prospect economics
- Late Jurassic/Early Cretaceous
- Expected monetary value (EMV)
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Full cycle basin economics
- Full cycle economic analysis
Tables and charts
This report includes 31 images and tables including:
- Commerciality index
- Exploration history map
- Exploration wells by play
- Licensed exploration acreage
- Expiry forecast of current licences
- Drilling activity by well type
- Discoveries and success rates
- Basin creaming curve
- 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)
- Late Jurassic/Early Cretaceous
- Recent discovery costs
- Summary of discovery and development costs
- Exploration and appraisal spend
- Exploration spend per well and average well depth
- 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
- Unit value of potential discoveries
- Prospect breakeven prices
- Late Jurassic/Early Cretaceous
What's included
This report contains:
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