Asset report
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35 Pages

UK West Shetland exploration basin


UK West Shetland exploration basin

Report summary

The West Shetland Basin is characterised by challenging climatic conditions and limited existing infrastructure. A small number of oil fields have been brought onstream, and the first gas field, Laggan, is expected onstream in the second half of 2015. However, much of the basin is underexplored and considered to be frontier exploration territory. The Rona Ridge and Judd High plays have been the focus of exploration in the basin to date.

What's included?

This report includes 2 file(s)

  • UK West Shetland exploration basin PDF - 773.32 KB 35 Pages, 29 Tables, 44 Figures
  • UK West Shetland.zip ZIP - 4.26 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
  • Key companies
    • Licensing participation
  • Geology
  • Exploration
    • Wells drilled
    • Basin success rates
  • Reserves and resources
    • Volumes discovered
    • Creaming curve and key play data
  • Development
    • Yet-to-find costs and underlying development assumptions
  • Costs
  • Fiscal and regulatory
    • Licensing
    • Fiscal terms
  • Economic assumptions
    • Oil and gas prices
  • Economic analysis
    • TYP economics
    • Outlook economics
    • Development value
      • Judd High
      • Rona Ridge
      • W Shetland
    • Prospect breakeven price
      • Judd High
      • Rona Ridge
      • W Shetland
    • Expected monetary value (EMV)
    • Play economics
    • Full cycle basin economics
    • Implied acreage value

In this report there are 73 tables or charts, including:

  • Key facts
    • Play level data
    • Assumptions
  • Summary and key issues
    • Value creation versus investment (TYP period)
    • Value creation versus investment (outlook)
    • Commerciality index
  • Location maps
    • Location maps: Image 1
    • Location maps: Image 2
  • Participation
    • Licensed exploration acreage
    • Expiry forecast of current licences
  • Key companies
    • Key licence holders
    • Key well operators (TYP period)
    • Gross exploration wells completed by operators
    • Net exploration wells completed by participant
    • Company success rates and discoveries
  • Geology
    • Key play characteristics
  • Exploration
    • Drilling activity by well type
    • Cumulative exploration wells by play
    • Discoveries and success rates
    • Discoveries by licence year and drilling year
  • Reserves and resources
    • Basin creaming curve
    • Key basin data
    • 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)
    • Judd High
    • Reserves and resources: Table 4
    • Rona Ridge
    • Reserves and resources: Table 5
    • W Shetland
    • Reserves and resources: Table 6
    • Judd High
    • Rona Ridge
    • W Shetland
    • Judd High
    • Rona Ridge
    • W Shetland
  • Development
    • Judd High
    • Rona Ridge
    • W Shetland
  • 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 - all plays
  • Economic assumptions
    • Brent and local oil price assumptions
    • Henry Hub and local gas price assumptions
  • Economic analysis
    • Value creation, spend and volume discovered
    • Returns by drilling year
    • Breakeven price versus prospect size
    • Value creation versus investment
    • Value of potential discoveries
    • Unit value of potential discoveries
    • Value of potential discoveries
    • Unit value of potential discoveries
    • Value of potential discoveries
    • Unit value of potential discoveries
    • Breakeven price of exploration
    • Discount rate breakeven price sensitivities
    • Breakeven price of exploration
    • Discount rate breakeven price sensitivities
    • Breakeven price of exploration
    • Discount rate breakeven price sensitivities
    • Judd High
    • Rona Ridge
    • W Shetland
    • Judd High
    • Rona Ridge
    • W Shetland
    • Full-cycle economic analysis
    • Average value of future discoveries and implied acreage value
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