Discover how EV² helped a large oil company identify profitable opportunities and progress the most interesting deals.
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Inundated with deals from third parties on a daily basis and lacking the time to assess each one in detail, our large oil company client was looking for a way to quickly identify profitable opportunities and progress those of greatest interest.
The new ventures team not only wanted to challenge the way opportunities were screened in-house, but also to inject fresh play ideas into their assessments following some personnel changes.
Having a rounded view of potential - with the right metrics and level of granularity - that would allow the team to quickly test opportunities of different shapes and sizes, was imperative if they were to make informed decisions to invest before giving the competition a chance.
Our client chose EV². As the only resource that links all play information to yet-to-find resources at the block level, its visualisation tools can be used to create custom analysis to quickly test and screen the best opportunities.
Using the tool, the team was able to integrate spatial data with in-house information to assess whether the EV² perspective aligned with their knowledge on a specific area and challenge received wisdom by examining different play ideas for interesting blocks.
The EV² Basin Summaries also provided extra information, such as definitions, relative risks around reservoirs, and key assumptions around play types, which they were able to consider during their assessment of potential deals.