Asset Report

UK West Shetland exploration basin

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05 March 2021

UK West Shetland exploration basin

Report summary

The West Shetland Basin is characterised by challenging climatic conditions and limited existing infrastructure. Companies have brought a small number of oil fields onstream and Total started production from the first gas fields, Laggan and Tormore, in 2016. Total discovered the large Glendronach field in September 2018. However, much of the basin remains under-explored and is considered frontier. There is potential to make sizeable discoveries (in terms of the UK) in the future.

Table of contents

    • Advantages:
    • Challenges:
  • Wells drilled
    • Rona Ridge
    • Judd High
  • Prospective resource costs and underlying development assumptions
  • Prospect economics -Rona Ridge
  • Prospect economics - Judd High
  • Full-cycle basin economics
  • Oil and gas prices
  • Licensing
  • Fiscal terms

Tables and charts

This report includes 24 images and tables including:

  • Exploration history map
  • Drilling activity by well type
  • Discoveries and success rates
  • Top 10 discoveries
  • Current acreage holders
  • Rona Ridge
  • Judd High
  • Summary of discovery and development costs
  • Unit value of potential discoveries
  • Breakeven price of exploration
  • Rona Ridge
  • Unit value of potential discoveries
  • Breakeven price of exploration
  • Judd High
  • Brent and local oil price assumptions
  • Henry Hub and local gas price assumptions
  • Typical fiscal terms - all plays
  • Exploration wells by play
  • Key play characteristics
  • Creaming curve
  • Prospective resource summary
  • Creaming curve
  • Prospective resource summary

What's included

This report contains:

  • Document

    UK West Shetland exploration basin

    PDF 1.44 MB

  • Document

    UK West Shetland exploration basin

    ZIP 4.18 MB