On behalf of a large E&P company, Westwood undertook a review of the exploration portfolio diversity and health of its peer group.
Project Brief
The Client posed a series of questions to examine the following topics, particularly in relation to the peer group’s exploration portfolios:
- Strategic Portfolio Shape – Key principles and configurations of a resilient, well-balanced exploration portfolio.
- Frontier Growth Options – Approaches to assessing the value, uncertainty and diversity of frontier exploration within the wider portfolio and compared to peers.
- Overall Portfolio Fitness – Indicators of whether the exploration portfolio is positioned for long-term competitiveness and value creation.
Consulting Sectors: Exploration & Appraisal Consulting
Westwood Approach
Westwood conducted a comprehensive review of the Client peer group, examining annual changes in exploration acreage, benchmarking current offshore positions, and analysing potential wells that could be drilled by these companies. This assessment enabled the Client to evaluate the health of its portfolio in comparison to its peers. The study’s results were presented to the Exploration Leadership team.
Westwood drew on the deep expertise of the Wildcat team, who specialise in analysing historical global exploration trends and performance metrics, understanding the underlying geology and unique ability to employ analogue play statistics to review exploration portfolios.
Project Outcome
Westwood’s analysis enabled the Client to better understand the relative strength of its exploration portfolio against the peer group. It also offered valuable insight into whether the portfolio possessed the diversity, balance, optionality, and depth required to successfully deliver the exploration strategy.
