Venezuela Columbus exploration basin
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Report summary
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.
What's included
This report contains
Table of contents
- Key facts
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Summary and key issues
- Commerciality index
- 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
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Key companies
- Licensing participation
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Geology
- Play inputs – Plio-Pleistocene gas
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Exploration
- Wells drilled
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Reserves and resources
- Volumes discovered
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Yet-to-find potential
- Play inputs
- Model field pool size distribution
- Existing discoveries and modelled yet-to-find pool size distribution
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Development
- Plio-Pleistocene gas
- Costs
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Fiscal and regulatory
- Licensing
- Fiscal terms
- Economic assumptions
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Economic analysis
- TYP economics
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Outlook economics
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Development Value
- Plio-Pleistocene Gas
- Prospect breakeven price
- Expected monetary value (EMV)
- Play economics
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- Plio-Pleistocene Gas
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Full cycle basin economics
- Implied acreage value
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Development Value
Tables and charts
This report includes 43 images and tables including:
Images
- Value creation versus investment (2006-2015)
- Value creation versus investment (2016-2035)
- Exploration history map
- Exploration wells by play
- Licensed exploration acreage
- Expiry forecast of current licences
- Exploration and appraisal spend
- Exploration spend per well and average well depth
- Economic assumptions: Image 1
- Commerciality Index
- Gross exploration wells completed by operator
- Net exploration wells completed by participant
- Drilling activity by well type
- Cumulative exploration wells by play
- Basin creaming curve
- Cumulative discoveries by play
- Cumulative volumes discovered by play
- Value creation, spend and volume discovered
- Breakeven price versus prospect size
- Value creation versus investment
- Plio-Pleistocene Gas
- Plio-Pleistocene Gas
- Breakeven price of exploration
- Economic analysis: Image 7
- Value of potential discoveries
- Unit value of potential discoveries
Tables
- Key play characteristics
- Key assumptions
- Key facts: Table 3
- Key play characteristics
- Recent Discovery Costs
- Key licence holders
- Key well operators (2006-2015)
- Key play data
- Forecast data by Play (2013-2030)
- Yet-to-find costs and underlying development assumptions
- Typical fiscal terms
- Reserves and resources: Table 3
- Plio-Pleistocene Gas
- Plio-Pleistocene Gas
- Economic analysis: Table 2
- Full cycle economic analysis
- Average value of future discoveries and implied acreage value
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