CGG Robertson, Wood Mackenzie launch new exploration valuation tool

Offshore staff

PARIS – Recognising the need to accurately assess the future potential of licensed and unlicensed acreage, CGG’s Robertson group and Wood Mackenzie are launching their new exploration valuation tool, EV2. The advance release includes access to data on 10 “hot” basins.

The EV2 analysis tool combines geological risk assessments of individual plays with Monte Carlo economic simulations, allowing business developers and new venture explorationists to differentiate exploration blocks and open acreage in terms of subsurface risk, volume, and value potential so they can find the best opportunities, particularly in frontier basins where data is often scarce.

Paul Chowdhry, head of research for Wood Mackenzie, says, “This offers clients consistent, transparent, and comparable valuation estimates for exploration volumes, which will help them gain a competitive advantage at the basin, play, or block level. We believe that EV2 will set a new industry benchmark in exploration analysis.”

Sophie Zurquiyah, senior executive vice president of CGG’s Geology, Geophysics & Reservoir division, adds, “EV2 will help our clients identify which basin, and, more importantly, which part of the basin, they should focus their efforts on to achieve maximum returns per exploration dollar. Making a clear connection between volume and value has never been more important. However, valuing company exploration acreage can be challenging, as it requires extensive time and resources, global basin knowledge, and independent third party estimates. EV2 gives fast and easy access to this information. It allows rapid evaluation of company acreage portfolios within a given basin by providing the potential risk, volumes, and value associated with each block.”

With this advance release, clients can now access 10 “hot” basins, with the full package of 200 basins around the world due to be released in phases through 2015 and 2016. Chowdhry notes that subscribers of the advance release can provide their input into the development of the final product.

11/12/2014

 

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