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The fifteenth edition of this report reviews conventional exploration performance between 2019 and 2023. Significant discoveries in 2023 are reviewed, and performance trends by basin, play and company are analysed. The report benchmarks company activity, strategy and performance, to understand the drivers behind exploration performance.

Left – High impact exploration discovered resource & success rates, 2019-2023.
Right – Performance metrics for most active high impact explorers, 2019-2023.
Source: Westwood’s State of Exploration Report 2024

Inform exploration strategy with the latest insights on the key drivers behind exploration activity and performance:

  • Review the key basins and plays of the last five years
  • Benchmark competitor performance and learn from their successes and failures
  • Calibrate cycle times and resource progression of high impact discoveries
  • Gain insights into the game changing wells of 2023

Access the 100-page written report

To access the report, please complete the form below or contact [email protected].

On purchase of the report, Westwood will provide access to the webinar recording, a copy of the webinar presentation and will offer a web meeting to present the executive summary and highlights of the report. All data is derived from Wildcat.

Executive Summary

Section 1 – Introduction and Methodology

Section 2 – Global High Impact Exploration Review
2.1 2023 overview and significant discoveries
2.2 Drilling activity and performance 2019-2023
2.3 Key global oil and gas basins 2019-2023
2.4 Frontier play exploration
2.5 Emerging play exploration

Section 3 – Global High Impact Exploration Performance by Company
3.1 High impact exploration by peer group
3.2 The 21 most active explorers
3.3 Follow-on exploration performance following frontier success

Section 4 – HI vs ILX Performance 2019-2023 – Wildcat Offshore Benchmark Group

Section 5 – High Impact Resource Progression
5.1 Resource progression
5.2 Cycle times

Glossary and Definitions

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