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Woodside Petroleum oil and gas exploration summary

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02 November 2018

Woodside Petroleum oil and gas exploration summary

Report summary

Exploration has largely been driven by expansion plans for its Australian LNG projects. The appointment of a new Head of Global Exploration in 2013 reinvigorated its exploration strategy as it broadened its international exploration portfolio. Whilst it is still exploring for gas, particularly in Asia and Australia, Woodside is also targeting oil-prone opportunities along the Atlantic Margin and in Latin America and Sub Saharan Africa, with the aim of re-balancing the portfolio's gas/oil mix. Woodside's three core strategic elements are 1) maximising value from the existing business, 2) be ready to meet stronger LNG demand and 3) expand opportunities in core hubs and new markets.

Table of contents

  • Executive summary
    • Upstream strategy
    • Exploration outlook
    • Other Woodside Petroleum research
    • Evolution of exploration strategy
  • Investment and costs
    • Well data
  • Reserves and resources
  • Production
    • Pluto expansion driving value erosion
    • Value creation from international exploration has growth potential

Tables and charts

This report includes 23 images and tables including:

  • Executive summary: Image 1
  • Ten year performance summary
  • Exploration & appraisal spend and reinvestment
  • Exploration & appraisal spend by water depth
  • Exploration & appraisal spend by basin maturity
  • Discovery costs by water depth
  • Discoveries (2008 to 2017)
  • Volumes discovered by year
  • Volumes discovered by water depth
  • Volumes discovered by country
  • Volumes discovered by basin
  • Production: Image 1
  • Full-cycle economics
  • SWOT grid
  • Net active exploration acreage by water depth
  • Net active conventional exploration acreage by country
  • Gross conventional exploration & appraisal wells by basin and sector
  • Exploration wells drilled and spend per well
  • Exploration success rates
  • Full cycle value creation by year
  • Exploration returns by year
  • Costs and development value by resource category
  • Exploration returns by water depth

What's included

This report contains:

  • Document

    Woodside Petroleum oil and gas exploration summary

    PDF 988.56 KB