A comparison of conventional and unconventional exploration

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Report summary

In August of 2013 Wood Mackenzie updated its Exploration Strategy and Performance benchmarking study (part of the Exploration Service) and for the first time this includes volumes and value from organic unconventional exploration. We define organic unconventional exploration as new unconventional resources added since 2003 outside of M&A deals. The size of exploration expenditure for the 33 companies analysed is massive. The total is roughly US$375 billion over 10 years. Organic...

What's included

This report contains

  • Document

    A comparison of conventional and unconventional exploration

    PDF 482.88 KB

Table of contents

  • Executive Summary
  • Costs
  • Volumes
  • Value
  • Tying the three themes together
  • Appendix A
  • Appendix B

Tables and charts

This report includes 4 images and tables including:


  • Companies included in the analysis


  • Exploration Benchmarking Study - Unconventional costs split out
  • Exploration Benchmarking Study - 2003 to 2012 new exploration volumes
  • Exploration Benchmarking Study - 2003 - 2012 full-cycle value creation

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