Market Research Report
State of Exploration Farm-Outs Report
|State of Exploration Farm-Outs Report|
Published: April 22, 2021
Delivery time: 1-2 business days
The 2020 oil price crash and Covid-19 pandemic were the catalysts for a 60% decrease in farm-out activity (outside of N.America) in comparison to 2019. Deal terms remain flat with 50% of deals on ground floor terms. The two highest value deals were both in emerging plays and were completed by NOC's farming out to Supermajors. Despite the lower activity levels, exploration performance from farm-out wells is at a five-year high, with a 38% commercial success rate driven by improved performance in maturing/mature play wells across NW Europe.
SOURCE: WESTWOOD WILDCAT AND EIA
The report covers: