Company Report

Wintershall Dea oil and gas exploration summary

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On 3 September 2024, Harbour completed the deal to acquire the majority of Wintershall Dea’s upstream assets for US$11.2 billion. This report focuses on Wintershall Dea's exploration performance from 2013-2024. Wintershall Dea has struggled to create value through exploration across the study period under our Base price assumption. However, returns have steadily improved towards the end of the decade reaching a high of 20% in 2020. Improvement in exploration performance towards the end of the decade coincided with two play-opening discoveries in Mexico and focused spend in Norway.

Table of contents

  • Exploration results
  • Wintershall portfolio
  • Production and potential cost of production
  • Value creation

Tables and charts

This report includes the following images and tables:

    Wintershall Dea’s current acreage - top 5 countries (in '000 km2)Net exploration and appraisal wells by countryExploration & appraisal spend and reinvestment
    Exploration success ratesLargest 10 conventional discoveries (net, 2014 to 2023)Volumes discovered by yearVolumes discovered by water depthVolumes discovered by countryVolumes discovered by basinProduction from new field discoveries and as a proportion of all future productionFinding and development costs for added resourcesFull cycle economics
  • 5 more item(s)...

What's included

This report contains:

  • Document

    Wintershall Dea oil and gas exploration summary

    PDF 3.14 MB