Asset Report
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 1 tcf 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
- Key issues include:
- Licensing participation
- Wells drilled
-
Basin success rates
- Volumes discovered
- Prospective resource potential
-
Play inputs
- Creaming curve and key play data
- Model field pool size distribution
- Existing discoveries and modelled prospective resource pool size distribution
- Prospective resource costs and underlying development assumptions
- Licensing
- Fiscal terms
- Oil and gas prices
- TYP economics
- Outlook economics
-
Development value
- Rona Ridge
- Judd High
- Prospect breakeven price
- Rona Ridge
- Judd High
- Expected monetary value (EMV)
- Play economics
- Full cycle basin economics
Tables and charts
This report includes 56 images and tables including:
- Commerciality index
- Exploration history map
- Exploration wells by play
- Licensed exploration acreage
- Expiry forecast of current licences
- Key licence holders
- Gross exploration wells completed by operators
- Net exploration wells completed by participant
- Company success rates and discoveries
- Key play characteristics
- Drilling activity by well type
- Cumulative exploration wells by play
- Discoveries and success rates
- Discoveries by licence year and drilling year
- Forecast data by play (outlook)
- Rona Ridge
- Judd High
- Rona Ridge
- Judd High
- Rona Ridge
- Rona Ridge
- Recent discovery costs
- Summary of discovery and development costs
- Exploration and appraisal spend
- Exploration spend per well and average well depth
- Typical fiscal terms - all plays
- Brent and local oil price assumptions
- Henry Hub and local gas price assumptions
- Value creation, spend and volume discovered
- Returns by drilling year
- Breakeven price versus prospect size
- Value creation versus investment
- Rona Ridge
- Judd High
- Rona Ridge
- Judd High
- Full-cycle economic analysis
- Basin creaming curve
- Key basin data
- Volumes discovered by year
- Average discovery size and volume per well by year
- Top discoveries (TYP period 2009 - 2018)
- Cumulative discoveries by play
- Cumulative volumes discovered by play
- Rona Ridge
- Judd High
- 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
What's included
This report contains:
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