EV2 global coverage map, indicating the 100 priority basins now available in light blue and the additional 80 basins to be released by 1H17 in dark blue (illustration: CGG)
The powerful EV2 decision support platform enables oil and gas clients to determine the value of undrilled exploration acreage in the world’s most prospective basins. Combining the geological expertise of CGG Robertson with the commercial insight of Wood Mackenzie, EV2 represents an industry first in terms of coupling a flexible valuation tool with a rigorous and detailed geological knowledge base in an intuitive environment. Wood Mackenzie is a Verisk Analytics business.
EV2 differentiates volume and value potential at basin, play, and block scales and combines this analysis with unique functionality, such as the ability to change underlying subsurface modeling assumptions. Users can incorporate proprietary knowledge from seismic, geologic data and in-house expertise to calibrate yet-to-find reserve assumptions, subsurface risk maps, and oil price assumptions. Custom scenarios allow quick comparison of farm-ins, license rounds, and new deal opportunities for new ventures teams, petroleum economists, and financial analysts.
The platform now covers 100 priority basins around the world in areas with leading exploration potential, upcoming license rounds, and high-profile prospects to help clients secure the best value return on their investment. A further 80 basins will be released between now and March 2017, resulting in a comprehensive global data set. EV2 allows users to value corporate acreage portfolios in an objective, comparable, and consistent manner, helping to fill a critical gap in the market.
The EV2 platform is prepopulated with detailed basin, play, and block data, distinguishing it from other offerings that simply provide modeling software. The solution delivers baseline geologic assessments, including play-level maps of combined common risk segment (CCRS), lead density, and hydrocarbon phase. Statistical yet-to-find (YTF) analysis, field development scenarios, and block-specific fiscal terms are also transparently presented in EV2. This data provides trusted insight to expedite the new ventures workflow.
Sophie Zurquiyah, chief operating officer, Geology, Geophysics & Reservoir, CGG, says, “Following industry interest in the prerelease EV2 ten-basin analysis multi-client product in 2014, we are delighted to be delivering the EV2 valuation platform. With our strategic ally Wood Mackenzie, we will continue to expand and update this offering to ensure it brings our clients accurate and reliable insight to increase their chances of success. At a time of continued low oil prices and reduced exploration spending, we believe EV2 will provide crucial input to explorers that will reduce the risks and increase the value of their decisions.”
Neal Anderson, president of Wood Mackenzie, says, “The unmatched alliance of Wood Mackenzie and CGG has created a completely unique offering for our clients. EV2 is timely, easy to use, and adds objectivity to decision-making. This is the first tool that provides an independent, transparent, and consistent view of volume and value potential for undrilled acreage. The ability to value corporate acreage portfolios will help explorers invest wisely.”