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17 Pages

Venezuela Maturin exploration basin


Venezuela Maturin exploration basin

Report summary

Nearly 51 billion barrels of recoverable oil have been discovered to date in Venezuela's mature Maturin basin. Finds by PDVSA in the last decade and earlier, such as El Furrial (Deep) and Tacata (Deep), have demonstrated the prospectivity of the deeper Late Eocene Lower Naricual and Capaya formations. This analysis looks at the future potential of these deeper reservoirs, as well as the shallower Early Oligocene Naricual and the Lower to Middle Miocene Oficina formations, where the majority of exploration has been focused to date. However, exploration by PDVSA seems unlikely to resume for several years given the company's current position. Beyond that, activity levels are expected to remain low, constraining the overall materiality of yet-to-find oil resources. Associated gas has little value in the basin, since any produced gas must be sold to PDVSA and receives a minimum price, most likely less than the cost of production.

What's included?

This report includes 2 file(s)

  • Venezuela Maturin exploration basin PDF - 658.96 KB 17 Pages, 14 Tables, 17 Figures
  • Venezuela Maturin.zip ZIP - 3.70 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
  • Geology
    • Key play characteristics
  • Exploration
  • Reserves and resources
    • Volumes discovered
    • Yet-to-find potential
      • Play creaming curve and key play data
  • Development
  • Costs
    • Summary of discovery and development costs
  • Fiscal and regulatory
    • Licensing
    • Fiscal terms
  • Economic analysis
    • TYP and outlook economics
      • Prospect economics
        • Early Oligocene
        • Late Eocene (deep)
      • Expected monetary value

In this report there are 31 tables or charts, including:

  • Key facts
    • Key play data
    • Assumptions
    • Price assumptions
  • Summary and key issues
    • Value creation versus investment (TYP period)
    • Value creation versus investment (outlook)
    • Commerciality index
  • Location maps
    • Exploration wells by play
  • Participation
    • Licensed exploration acreage
    • Expiry forecast of current licences
  • Geology
    • Geology: Table 1
  • Exploration
    • Drilling activity by well type
    • Discoveries and success rate
  • Reserves and resources
    • Top discoveries (TYP period)
    • Early Oligocene
    • Reserves and resources: Table 2
    • Late Eocene (deep)
    • Reserves and resources: Table 3
  • Development
    • Development: Table 1
    • Late Eocene (deep)
  • Costs
    • Costs: Table 1
    • Exploration and appraisal spend
  • Fiscal and regulatory
    • Typical fiscal terms
  • Economic analysis
    • TYP value creation, spend and volume discovered
    • Outlook value creation, spend and YTF volume
    • Unit value of potential discoveries
    • Breakeven price of exploration
    • Unit value of potential discoveries
    • Breakeven price of exploration
    • Economic analysis: Table 1
    • Economic analysis: Table 2
    • Economic analysis: Table 3
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