Lundin has had a strong focus on organic growth on the NCS, resulting in finding cost of 0.7 USD/boe (post tax).
The finding cost of 0.7 USD/boe was published in conjunction with Lundins corporate presentation in October.
This is in comparison to acquisitions costs of 3.25 USD/boe and 4.2 USD/boe for King Lear and Tommeliten Alpha, resepctively (geo365.no: “Oppkjøp skapte nyheter“).
Until now, Lundin has had – what the company calls – a track record of company-making discoveries thi year.
Out of 7 E&A wells drilled , 6 can be classified as successes, including including Luno II (A), Lille Prinsen (E), Frosk (E), Rolvsnes (A), Alta (A) and Gekko (E), all of them – except Alta – in the North Sea.
As a basis for this success, Lundin refers to the NCS as one of “top 10 world-wide exploration areas”. This we will learn more about in the 2nd Exploration Strategy Conference in Stavanger, November 14-15.
Both Wood Mackensie and Westwood will give their accounts on world hot spots and how the NCS compares with other basins worldwide.