CGG and Wood Mackenzie release exploration valuation platform

The 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.