International Oil Companies (IOCs) Focusing On Unconventional Sources – Rationale, Strategies and Implications for the Global Oil and Gas Industry

Pages: 68 Published: August 31, 2011 Report Code: GDGE0009TR

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“International Oil Companies (IOCs) Focusing On Unconventional Sources – Rationale, Strategies and Implications for the Global Oil and Gas Industry”, is the latest report from GlobalData, the industry analysis specialists, that analyzes the presence, rationale and strategies adopted by International Oil Companies (IOCs) in unconventional resources globally. The report also analyses the impact of IOCs engagement in unconventional resources on the global oil and gas industry. The report analyses in detail the role of IOCs in meeting the increasing demand of oil and gas resources through the development of unconventional resources. Mergers, acquisitions and partnerships formed by IOCs have been dealt with in detail in the report. The unconventional oil and gas resources have become increasingly important avenues for the growth of IOCs. With inadequate investment opportunities in conventional plays and new discoveries uneconomic to develop, IOCs are exploring unconventional resources globally. The unconventional resources are plentiful and can be exploited commercially at a global scale

Scope

The report analyzes the engagement of IOCs in unconventional oil and gas resources and focuses on:

The presence and distribution of unconventional resources globally.

Rationale for presence of IOCs in unconventional plays by resource.

Strategies adopted by IOCs to fortify their presence in various unconventional plays.

Impact of the presence of IOCs on global oil and gas markets.

Reasons to Buy

The report will enhance your decision-making capability in a rapid and time-sensitive manner. It will allow you to:

Keep informed of the latest developments and updates of the IOCs in unconventional resources

Develop business strategies with the help of specific insights about the presence of the IOCs in unconventional resources

Identify opportunities and challenges for IOCs in the unconventional oil and gas industry

Understand the strategies of IOCs in various unconventional oil and gas plays

Table of Contents

1Table of Contents3

1.1List of Tables4

1.2List of Figures5

2Introduction6

2.1Overview6

2.2GlobalData Report Guide6

3Availabilty of Unconventional Resources – Geographical Presence and Potential7

3.1The Global Distribution of Unconventional Gas Resources7

3.1.1Shale Gas in the US8

3.1.2Shale Gas in Europe11

3.1.3Shale Gas in Asia Pacific13

3.1.4Tight Gas – Global Distribution14

3.1.5CBM in the US16

3.1.6CBM in Asia Pacific17

3.2Huge Potential for Unconventional Oil Exists in North America and Asia Pacific18

3.2.1Oil Sands in Canada19

3.2.2Heavy Oil in Venezuela20

3.2.3Oil Sands in the US21

3.2.4Oil Shales – Global Distribution22

4Unconventional Resources Will Play an Important Role in Global Energy Scenraio – Rationale25

4.1The Economics of Unconventional Resources Have Improved With Scale of Development and Advances in Technology25

4.2Unconventional Resources Will Contribute Significantly to Global Energy Security26

5IOCs Enter Unconventional Resources to Increase Oil and Gas Reserves28

5.1IOCs See Unconventional Resources as Answer to Increasing Global Oil and Gas Demand28

5.2IOCs Aim to Strengthen Their Energy Portfolios Through Unconventional Resources28

5.3IOCs Focus on Unconventional Gas Resources to Meet the Demand for Low Carbon Energy30

5.4IOCs Possess the Financial Strength to Develop Unconventional Resources31

6Presence of IOCs in Unconventional Resources Markets – Competitive Analysis and Strategies33

6.1Focus on Unconventional Resource Types33

6.1.1Presence of IOCs in Oil Sands33

6.1.2Presence of IOCs in Shale Gas37

6.1.3Presence of IOCs in CBM43

6.1.4Presence of IOCs in Shale Oil47

6.1.5Presence of IOCs in Tight Gas48

6.1.6Key Strategies of IOCs in Unconventional Resources49

7The Growing Presence of IOCs in Unconventional Plays will Benefit the Global Oil and Gas Industry57

7.1Impact on Current International Oil and Gas Trade57

7.2The Demand-Supply Gap of Energy Resources will Decrease with the Large-scale Production of Unconventional Resources58

7.3An Increase in Commercial Production of Unconventional Resources will Lead to Competitive Pricing of Conventional Resources61

7.4Impact on Development of Planned Projects63

8Appendix66

8.1Sources66

8.2Market Definition66

8.3Abbreviations66

8.4Methodology67

8.4.1Coverage67

8.4.2Secondary Research67

8.4.3Primary Research68

8.4.4Expert Panel Validation68

8.5Contact Us68

8.6Disclaimer68

List of Tables

Table 1: Shale Gas, the US, Proved Reserves (tcf), 2007-20098

Table 2:Major Shale Gas Plays, The US, Key Characteristics, 201010

Table 3:Europe, Major Prospective Gas Shale Plays in Different Countries, 201012

Table 4: CBM, the US, Proved Reserves (tcf), 2005-200916

Table 5:Global Distribution of Unconventional Oil Resources, Billion Barrels18

Table 6: Oil Sands, Canada, Developed Oil Sands Reserves (Billion Barrels), 2000-200919

Table 7: Oil Sands, Venezuela, Oil in Place (Billion Barrels) and Recovery Factor (%) of Orinoco Oil Belt Assessment Unit, 200920

Table 8: Oil Sands, Utah, Known Resource and Additional Resource (MMbbl), 199321

Table 9:Shale Plays, Cost Per Well ($m) and EUR (billion cubic feet equivalent), July 201125

Table 10:IOCs, Net Shale Gas Acreages (Acres), 201131

Table 11:IOCs, Capex ($m), 2009-201131

Table 12:IOCs, Cash Flow From Operating Activities ($m), 2005 – 201032

Table 13:Oil Sands, Proved Reserves (MMboe) and Production (Mbopd) of IOCs, 2008-201033

Table 14:Total SA, Details of Major Oil Sands Projects in Canada, 201036

Table 15: Gas Shale, Europe, Presence of International Oil Companies, 201037

Table 16: XTO, Net Acreage of Shale Plays (Net Acres), September 200937

Table 17:Exxon Mobil Corporation, Performa Acquisition Details, 2008–200938

Table 18:Unconventional Energy Resources, M&As, Asset Transac by IOC ($m), 2008-201051

Table 19:Unconventional Energy Resources, M&A, Asset Transactions by IOCs ($m), 2008–201053

Table 20: Heavy OilProjects, Venezuela, Details of Planned Heavy Oil Projects, 201055

Table 21:Shale Gas Resources, Europe, Details of Permits/Licenses of IOCs, 201056

Table 22:Gas Market, the US, Shale Gas Reserves (tcf), Production (bcf) and Natural Gas Imports (bcf), 2007–200964

Table 23:Planned LNG Regasification Projects, Details of Cancelled or Suspended LNG Projects, 201164

Table 24:CBM, Australia, Details of Planned CSG to LNG Projects, 201165

List of Figures

Figure 1:Distribution of in Place Unconventional Gas Resources, By Region (%), 20017

Figure 2:Distribution of In Place Unconventional Gas Resources, By Type and Region (%), 20018

Figure 3:Shale Gas, the US, Shale Gas Production (bcf), 2007-20099

Figure 4: Shale Gas, The US, Shale Gas Plays in Lower 48 States, May 201110

Figure 5:Shale Gas, Europe, Technically Recoverable Resources (tcf), April 201111

Figure 6:Europe, Major Shale Gas Basins, 201012

Figure 7:Shale Gas, Asia Pacific, Technically Recoverable Resources (tcf), April 201113

Figure 8:Tight Gas Resources, Global, Distribution of in Place Resources (%), June 200614

Figure 9: Tight Gas, The US, Tight Gas Plays in Lower 48 States, June 201015

Figure 10: Coal Bed Methane (CBM), The US, CBM Deposits in Lower 48States, June 201016

Figure 11:CBM, The US, Production bcf, 2005-200917

Figure 12: CBM, Asia Pacific, Resources (tcf), 201017

Figure 13:CBM, Asia Pacific Production (MMcm), 2000-201018

Figure 14: Oil Sands, Canada, Projects in Peace River, Athabasca and Cold Lake Deposit, in Canada19

Figure 15:Map of the Orinoco Heavy Oil Belt, Venezuela20

Figure 16: Oil Sands, Utah, Known Resource and Additional Resources (MMbbl), 199321

Figure 17:Shale Oil, Global, In Place Oil Resources (MMbbl), 200722

Figure 18:Shale Oil, Global, Major Countries with Shale Oil Resources and Production, 200523

Figure 19:Shale Oil in the US, Bakken Shale Play24

Figure 20:Oil and Natural Gas, Global, Production and Consumption (MMtoe), 2010 and 203026

Figure 21:Oil and Natural Gas, Global, Proved Oil and Gas Reserves of IOCs (MMboe), 2005 and 201029

Figure 22:Oil and Natural Gas, Global, Oil and Gas Extensions (MMboe) and Discoveries and Reserve Replacement Ratios (%), 2005-201029

Figure 23:IOCs, Net Shale Gas Acreages (Acres), 201130

Figure 24:IOCs, Cash Flow From Operating Activities ($m), 2005 and 201032

Figure 25:Oil Sands, Proved Reserves (MMboe) and Production (Mbopd) of IOCs, 2008-201033

Figure 26:Royal Dutch Shell, Oil Sands Operations, 201134

Figure 27: Gas Shale, Sweden, Royal Dutch Shell’s Exploration Licenses in Skane, 201039

Figure 28:Chesapeake Energy, Properties Including the Divested Woodford Shale Play, 201040

Figure 29:EXCO Resources, Location of Assets In East Texas/North Louisiana Before the Acquisition by BG41

Figure 30:Royal Dutch Shell, CBM and Other Projects, 201044

Figure 31:ExxonMobil Corporation, Position in Emerging CBM and Other Unconventional Plays, 201045

Figure 32:Total SA, GLNG Project Schematic46

Figure 33:Royal Dutch Shell, Tight Gas, Current and Potential Global Tight Gas Operations, 200948

Figure 34:Unconventional Resources, Global, M&As and Partnerships (%), 2008 – June 201149

Figure 35:Unconventional Resources, Contribution of IOCs (Deal Value) (%), 2008-201050

Figure 36:Unconventional Energy Resources, M&A by IOCs ($m), 2008-201051

Figure 37:Shale Plays, Fayetteville, Deal Multiple ($/Boe) and Price of Gas ($/MMbtu), Jan 2008–June 30, 201152

Figure 38:Primary Energy Consumption, Global (MMtoe), 1990-201058

Figure 39:Crude Oil and Natural Gas, Production and Consumption (MMtoe), 1990-203059

Figure 40:Unconventional Resources, Global, Projected Production (MMbpd), 2008-203060

Figure 41:Natural Gas , Henry Hub Spot Gas Price ($/MMbtu), Jan 2009 – Dec 201061

Figure 42:Gas Market, the US, Shale Gas Reserves (tcf), Production (bcf) and Natural Gas Imports (bcf), 2007–200963

Figure 43:Oil and Gas Pipeline Markets, North America, Planned Route of Keystone XL Pipeline System65

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