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The Venezuelan portion of the Columbus Basin - commonly known as the Plataforma Deltana - is on trend with the prolific gas plays in Trinidad & Tobago. Exploration in the Venezuelan sector of the basin has been minimal compared to its neighbour. There are currently no existing developments in the basin and a lack of infrastructure, which leads to high costs. With an agreement in place to jointly develop the Loran-Manatee cross-border field, potential development options might be on the horizon. Current costs are too high and the value of potential discoveries is negative even at High prices.
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.
Risk – the partial expropriation of service companies and facilities across Venezuela in 2009 sent a reminder of the risk and uncertainty inherent in doing business in the country. The takeovers are consistent with the policy of increased nationalisation.
Location maps
Participation
Key companies
Licensing participation
Geology
Play inputs – Plio-Pleistocene gas
Exploration
Wells drilled
Reserves and resources
Volumes discovered
Yet-to-find potential
Play inputs
Model field pool size distribution
Existing discoveries and modelled yet-to-find pool size distribution
Development
Plio-Pleistocene gas
Costs
Fiscal and regulatory
Licensing
Fiscal terms
Economic assumptions
Economic analysis
TYP economics
Outlook economics
Development Value
Plio-Pleistocene Gas
Prospect breakeven price
Expected monetary value (EMV)
Play economics
In this report there are 43 tables or charts, including:
Key facts
Key play characteristics
Key assumptions
Key facts: Table 3
Summary and key issues
Value creation versus investment (2006-2015)
Value creation versus investment (2016-2035)
Commerciality Index
Location maps
Exploration history map
Exploration wells by play
Participation
Licensed exploration acreage
Expiry forecast of current licences
Key companies
Key licence holders
Key well operators (2006-2015)
Gross exploration wells completed by operator
Net exploration wells completed by participant
Geology
Key play characteristics
Exploration
Drilling activity by well type
Cumulative exploration wells by play
Reserves and resources
Basin creaming curve
Key play data
Cumulative discoveries by play
Cumulative volumes discovered by play
Forecast data by Play (2013-2030)
Plio-Pleistocene Gas
Reserves and resources: Table 3
Plio-Pleistocene Gas
Plio-Pleistocene Gas
Development
Yet-to-find costs and underlying development assumptions
Costs
Exploration and appraisal spend
Exploration spend per well and average well depth
Recent Discovery Costs
Fiscal and regulatory
Typical fiscal terms
Economic assumptions
Economic assumptions: Image 1
Economic analysis
Value creation, spend and volume discovered
Breakeven price versus prospect size
Value creation versus investment
Value of potential discoveries
Unit value of potential discoveries
Breakeven price of exploration
Economic analysis: Image 7
Plio-Pleistocene Gas
Economic analysis: Table 2
Full cycle economic analysis
Average value of future discoveries and implied acreage value
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Asset report | Jun 2016
Venezuela Columbus exploration basin
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