What is EV2?
EV2, which stands for exploration volume and valuation, is a powerful new offering from Petroleum Edge, a 50/50 JV between CGG Robertson and Wood Mackenzie. The tool combines CGG Robertson's geological expertise with Wood Mackenzie's commercial insight to create block level volume and value estimates. Users can compare play level metrics using the strategic dashboard or edit subsurface risk maps, statistical Monte Carlo inputs and oil price assumptions in the dynamic modelling tool.
Who will benefit from this product?
A range of clients including IOC, NOC, E&P, financial institutions and government agencies can gather geologic and economic analysis using EV2. The core user base is expected to be in the New Ventures and Exploration community; however business development, strategy and M&A teams will also derive value through the corporate acreage dataset.
What types of analysis will EV2 support?
EV2 will support a variety of analysis that will give users a competitive advantage when operating in a volatile and fast moving environment. Block level volume and value estimates can assist users with opportunity screening, competitor intelligence, strategic benchmarking, farm-in evaluation, geologic risk assessment and acreage portfolio management. EV2 is the first offering of its kind and the scope of benefits will be fully understood with extended use.
How many basins will be covered in the EV2 dataset?
The product will model over 180 basins across the following regions: Sub-Saharan Africa, Greater Caribbean, Australasia, South East Asia, Middle East & North Africa, Mediterranean, Caspian, Atlantic Margin, Northwest Europe, South America and the Arctic. Users are encouraged to provide feedback on basin scope and prioritisation.
What are the geologic data sources?
CGG Robertson's Tellus geodatabase is used as the primary source for the EV2 volumetric analysis. This is enhanced by access to CGG Robertson's Red Book Studies, other multi-client products and geologic literature from the public domain.
What is the methodology for unlicensed blocks or frontier acreage?
In frontier basins with no defined blocks, analogue basins are used to conduct geologic analysis and establish an infill block grid. If blocks are awarded in a basin, unlicensed acreage will be allocated to blocks using a standard grid system based on the size and shape of existing blocks.
What are the economic data sources?
Wood Mackenzie leverages its deep regional commercial knowledge to develop a series of play specific prospect models. These models are run through the Global Economic Model (GEM) which uses the most current fiscal terms, oil and gas price markers and tax components to accurately value each prospect.
What are the key drivers for prospect economics?
A minimum of 80 prospects are modelled for each play and account for 5 potential field sizes, 5 water depth settings (where applicable) and 5 oil percentages (where applicable). A unique development scenario, capital phasing and production profile is considered for each prospect economic model.
How can I learn more about EV2?
Please submit your interest via e-mail to firstname.lastname@example.org