{"id":10512,"date":"2020-06-29T14:05:31","date_gmt":"2020-06-29T14:05:31","guid":{"rendered":"https:\/\/www.westwoodenergy.com\/?p=10512"},"modified":"2025-03-19T15:09:02","modified_gmt":"2025-03-19T15:09:02","slug":"north-sea-exploration-performance-2015-2019","status":"publish","type":"post","link":"https:\/\/www.westwoodenergy.com\/reports\/north-sea-exploration-performance-2015-2019","title":{"rendered":"North Sea Exploration Performance 2015 – 2019"},"content":{"rendered":"[vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overflow=”visible” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][tabbed_section style=”default” tab_change_animation=”fade” alignment=”left” spacing=”default” tab_color=”Accent-Color” vs_content_animation=”fade” vs_link_animation=”opacity” vs_navigation_alignment=”left” vs_navigation_width_2=”25%” vs_navigation_func=”default” vs_navigation_width=”regular” vs_navigation_spacing=”15px” vs_navigation_mobile_display=”visible” vs_tab_spacing=”5%”][tab icon_family=”none” title=”Report Summary” id=”1742396920825-10″ tab_id=”1742396920825-3″][vc_column_text css=”” text_direction=”default”]\n

Report Summary<\/span><\/b>\u00a0<\/span><\/h2>\n

This report analyses the results of the 124 exploration wells drilled in the 2015 – 2019 period in the UK and Norway Central and Northern North Sea basins, as well as the results to date for 2020 and the outlook for the next 18 months.<\/p>\n

A total of 59 discoveries were made from the 124 exploration wells drilled, of which 29 are considered commercial, containing gross resources of 1,059 mmboe (715 mmbbl oil and 2.1 tcf gas). The five-year commercial success rate was 23%, with a drilling finding cost of US$4.85\/boe. A further 30 wells made non-commercial discoveries, giving an overall technical success rate (TSR) of 48% from the 59 wells that found hydrocarbons. <\/span><\/span><\/p>\n

\"\"
\nFigure 1: Well results with commercial and technical success rates per annum in the North Sea. Source: Westwood Wildcat
\nFigure 2: Commercial oil and gas resources discovered and finding costs per annum in the North Sea. Source: Westwood Wildcat<\/h6>\n

CLICK HERE<\/a> To read a Westwood Insight of the report.[\/vc_column_text][\/tab][tab icon_family=”none” title=”Report Contents” id=”1742396920848-5″ tab_id=”1742396920848-0″][vc_column_text]\n

Contents<\/h2>\n

Key Messages <\/strong>
\nSummary <\/strong>
\n
\nSetting the Scene<\/strong><\/p>\n

    \n
  • 2015 – 2020<\/li>\n
  • North Sea Exploration History<\/li>\n<\/ul>\n

    Exploration Drilling Activity and Spend <\/strong><\/p>\n

    Exploration Performance<\/strong><\/p>\n

      \n
    • North Sea – UK and Norway Combined<\/li>\n
    • UK vs Norway Performance<\/li>\n
    • Basin Performance<\/li>\n
    • Play Performance<\/li>\n<\/ul>\n

      ILX vs. Non-ILX Drilling<\/strong><\/p>\n

        \n
      • Activity<\/li>\n
      • Performance<\/li>\n
      • Impact on Production Hubs<\/li>\n<\/ul>\n

        High Impact Drilling<\/strong><\/p>\n

          \n
        • Activity<\/li>\n
        • Performance<\/li>\n
        • High Impact Prospects in Proven Plays<\/li>\n
        • Frontier Play Tests<\/li>\n
        • Discussion<\/li>\n<\/ul>\n

          Resource Progression <\/strong><\/p>\n

            \n
          • Status of Commercial Discoveries<\/li>\n<\/ul>\n

            Company Performance<\/strong><\/p>\n

              \n
            • Activity<\/li>\n
            • Exploration Performance<\/li>\n
            • Discussion<\/li>\n<\/ul>\n

              2020 Exploration Drilling<\/strong><\/p>\n

                \n
              • Activity<\/li>\n
              • UK<\/li>\n
              • Norway<\/li>\n
              • Performance<\/li>\n<\/ul>\n

                Planned Wells <\/strong><\/p>\n

                Discussion <\/strong><\/p>\n

                Conclusions <\/strong><\/p>\n

                Appendix<\/strong>[\/vc_column_text][\/tab][tab icon_family=”none” title=”Purchase Options” id=”1742396920861-7″ tab_id=”1742396920861-2″][vc_column_text css=”” text_direction=”default”]Please complete the form below to get in touch.[\/vc_column_text][\/tab][\/tabbed_section][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” bg_color=”#2c293e” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overflow=”visible” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none” gradient_type=”default” shape_type=””][vc_column column_padding=”padding-3-percent” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid” column_padding_type=”default” gradient_type=”default”][vc_raw_html css=””]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[\/vc_raw_html][\/vc_column][\/vc_row]\n","protected":false},"excerpt":{"rendered":"

                This report analyses the results of the 124 exploration wells drilled in the 2015 – 2019 period in the UK and Norway Central and Northern North Sea basins, as well as the results to date for 2020 and the outlook for the next 18 months.<\/p>\n","protected":false},"author":6,"featured_media":10500,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[347,337,323,48,338,320,318,335,334,336,325],"tags":[102,367,368,59,58,231,134,395],"class_list":{"0":"post-10512","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-exploration-and-production","8":"category-global-ea-subsectors","9":"category-global-ea","10":"category-news","11":"category-nw-europe-subsectors","12":"category-nw-europe","13":"category-reports","14":"category-sectors","15":"category-solutions","16":"category-subsectors","17":"category-wildcat","18":"tag-appraisal","19":"tag-dhis","20":"tag-direct-hydrocarbon-indicators","21":"tag-drilling","22":"tag-exploration","23":"tag-global-exploration","24":"tag-norway","25":"tag-uk"},"acf":[],"yoast_head":"\nNorth Sea Exploration Performance 2015 - 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