Insight
Deepwater Gulf of Mexico: how are explorers commercialising discoveries?
Report summary
Since 2015 and the collapse of oil prices, exploration in deepwater Gulf of Mexico has been forced to re-invent itself. Infrastructure-led exploration has moved front-and-centre through the downturn, while operators have struggled to commercialise larger finds. Operators that treat exploration and appraisal more like an extension of development than a separate initiative have sanctioned the most projects, but fall behind in terms of sanctioned reserves. Why have larger fields taken a back seat and how can operators move these high-impact projects forward? We review the fields that have been commercialised over the past two years and the fields that have stalled. We benchmark the region's top five drillers and outline what we expect in the next two years.
Table of contents
- Executive Summary
- Private players show resilience through low prices
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Why is high-impact exploration not working?
- Extensive appraisal swells costs
- Appraise while developing, phase development
- Brownfield exploration is in the money
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Infrastructure-led exploration saves the day
- Current classification of top explorers' discoveries made in the past 10 years
- Top explorers' transition to infrastructure-led exploration
- Conclusion
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Appendix
- Definitions
Tables and charts
This report includes 8 images and tables including:
- Top five explorers average lead time
- Discovered volumes by peer group
- Full-cycle vs. development-cycle breakevens
- Capex/boe by project type
- Deepwater Gulf of Mexico: how are explorers commercialising discoveries?: Image 5
- Deepwater Gulf of Mexico: how are explorers commercialising discoveries?: Image 6
- 2017-2018 Selected deepwater Gulf of Mexico exploration wells
- Sanctioned projects and probable projects
What's included
This report contains:
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