Offshore Oil and Gas in Denmark - Production, Drilling, Rig Activity and Expenditure

Synopsis
Key historical and forecast data for the offshore oil and gas industry in Denmark for the following indicators: production, drilling, rig activity and operating and capital expenditure data.

Introduction
The report looks at the offshore oil and gas activities in Denmark. The report details the main upstream indicators of activity from drilling activity, expenditure through to production. Our data goes back to 2000 for most categories and forward to 2030 for production. It gives analysts and investors a concise guide to this important industry.

Scope
• Identify the opportunities in the Danish offshore oil and gas industry by analyzing drilling activity and production from 2010 onwards
• Develop investment strategies through a review of key suppliers of upstream supplies and services
• Identify M&A targets by analyzing offshore production data (value, volume and share) on a company-by-company basis
• Analyze and identify key rigs across Denmark by comparing rigs across 26 parameters

Highlights
• Oil and gas production in Denmark declined at a CAGR of 2.1% over the 2000-09 period. This is expected to decline at a CAGR of 6.8% over the 2010-30 period.
• Operation Expenditure (Opex) accounted for a 59.8% share of the total offshore expenditure in 2009 in Denmark, while Capital Expenditure (Capex) accounted for the remaining 40.2% share.

Reasons to purchase
• Which countries will see the fastest growth in offshore oil and gas activity?
• Which companies are the most active in the offshore oil and gas sector?
• How much expenditure will be incurred both as operational and capital expenditure?
• How are oil and gas production trends evolving from 2000 to 2030?
• Where will drilling activity be greatest?
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TABLE OF CONTENTS
Introduction 2
Summary 2
Market definition 3
Danish Offshore Oil and Gas Production Overview 16
Offshore production to 2030 16
Offshore cumulative production to 2030 20
Offshore remaining production to 2030 24
Danish Offshore Production Wells 28
Total production wells (oil & gas) overview 28
Offshore production wells (oil and gas) 32
Danish Offshore Drilling 34
Offshore drilling of wells to 2015 34
Offshore well drilling split by exploratory and development to 2015 36
Offshore exploratory well drilling to 2015 38
Offshore exploratory well drilling in Denmark, split by exploration and appraisal to 2015 40
Offshore development well drilling to 2015 42
Offshore development well drilling in Denmark, split by surface and sub-sea development to 2015 44
Danish Offshore Expenditure 46
Capex and Opex to 2015 46
Danish Offshore Rig Activity 50
ENSCO 70 50
ENSCO 71 51
Energy Endeavour 52
Maersk Resolute 53
Maersk Resolve 54
Maersk Reacher 55
Danish Equity Stakes 56
Companies ranked by estimated oil production offshore in 2010 56
Companies ranked by estimated natural gas production offshore in 2010 58
Companies ranked by estimated oil & natural gas production offshore in 2010 60
Top 9 companies ranked by estimated oil production offshore in 2010 62
Top 10 companies ranked by estimated natural gas production offshore in 2010 64
Top 10 companies ranked by estimated oil & natural gas production offshore in 2010 66
Top 5 companies ranked by estimated oil production offshore in 2010 68
Top 5 companies ranked by estimated natural gas production offshore in 2010 70
Top 5 companies ranked by estimated oil & natural gas production offshore in 2010 71
Companies and estimated oil production per year 73
Companies and estimated natural gas production per year 75
Appendix 77
Research Methodology 77
Global oil & gas analyzer overview 77
Overview of reserves 77
Overview of drilling activity 77
How producing wells are forecast 78
Overview of production data 79
Overview of production decline rates 79
Overview of offshore Capex & Opex data 80
Overview of drilling expenditure 81
Overview of operating expenditure 84
Overview of consumption data 84
Sources of data 84
Data verification 85
Final data review and publication 85
How to contact experts in your industry 86
Further reading 86
Disclaimer 86

LIST OF FIGURES
Figure 1: Denmark, offshore oil and gas production (000s boe/day), 2000–09 16
Figure 2: Denmark, offshore oil and gas production (000s boe/day), 2010–30f 18
Figure 3: Denmark, oil and gas market, offshore cumulative production (mm boe), 2000–09 20
Figure 4: Denmark, oil and gas market, offshore cumulative production (mm boe), 2010–30f 22
Figure 5: Denmark, oil and gas market, offshore remaining production (mm boe), 2000–09 24
Figure 6: Denmark, oil and gas market, offshore remaining production (mm bbls), 2009–30f 26
Figure 7: Denmark, number of production wells (oil and gas), 2002–09 28
Figure 8: Denmark, number of production wells (oil and gas), 2009–15f 30
Figure 9: Denmark, number of offshore production wells, 2002–09 32
Figure 10: Denmark, number of offshore production wells, 2009–15f 33
Figure 11: Denmark, number of offshore wells drilled, 2000–15f 34
Figure 12: Denmark, number of offshore wells drilled, split by exploratory and development, 2000–15f 36
Figure 13: Denmark, number of offshore exploratory wells drilled, 2000–15f 38
Figure 14: Denmark, number of offshore exploratory wells drilled, split by exploration and appraisal, 2000–15f 40
Figure 15: Denmark, number of offshore development wells drilled, 2000–15f 42
Figure 16: Denmark, number of offshore development wells drilled, split by surface and sub-sea development, 2000–15f 44
Figure 17: Denmark, offshore expenditure, capex and opex ($m), 2000–09 46
Figure 18: Denmark, offshore expenditure, capex and opex ($m), 2009–15f 48
Figure 19: Denmark, offshore oil estimated production volume (bcm/year) by company, 2010 56
Figure 20: Denmark, offshore natural gas estimated production volume (bcm/year) by company, 2010 58
Figure 21: Denmark, offshore oil & natural gas estimated production volume (mmboe/year) by company, 2010 60
Figure 22: Denmark, estimated market share of top 9 companies in offshore oil production, 2010 62
Figure 23: Denmark, estimated market share of top 10 companies in offshore natural gas production, 2010 64
Figure 24: Denmark, estimated market share of top 10 companies in offshore oil & natural gas production, 2010 66
Figure 25: Denmark, estimated market share of top 5 companies in offshore oil production, 2010 68
Figure 26: Denmark, estimated market share of top 5 companies in offshore natural gas production, 2010 70
Figure 27: Denmark, estimated market share of top 5 companies in offshore oil & natural gas production, 2010 71
Figure 28: Denmark, offshore oil estimated production per year by company, 2010–15 73
Figure 29: Denmark, offshore natural gas estimated production per year by company, 2010–15 75

LIST OF TABLES
Table 1: Denmark, offshore oil and gas production (000s boe/day), 2000–09 17
Table 2: Denmark, offshore oil and gas production (000s boe/day), 2010–30f 19
Table 3: Denmark, oil and gas market, offshore cumulative production by oil (mm bbls) and gas (bcm), 2000–09 21
Table 4: Denmark, oil and gas market, offshore cumulative production by oil (mm bbls) and gas (bcm), 2010–30f 23
Table 5: Denmark, oil and gas market, offshore remaining production by oil (mm bbls) and gas (bcm), 2000–09 25
Table 6: Denmark, oil and gas market, offshore remaining production by oil (mm bbls) and gas (bcm), 2009–30f 27
Table 7: Denmark, number of production wells (oil and gas), 2002–09 29
Table 8: Denmark, number of production wells (oil and gas), 2009–15f 31
Table 9: Denmark, number of offshore production wells, 2002–09 32
Table 10: Denmark, number of offshore production wells, 2009–15f 33
Table 11: Denmark, number of offshore wells drilled, 2000–15f 35
Table 12: Denmark, number of offshore wells drilled, split by exploratory and development, 2000–15f 37
Table 13: Denmark, number of offshore exploratory wells drilled, 2000–15f 39
Table 14: Denmark, number of offshore exploratory wells drilled, split by exploration and appraisal, 2000–15f 41
Table 15: Denmark, number of offshore development wells drilled, 2000–15f 43
Table 16: Denmark, number of offshore development wells drilled, split by surface and sub-sea development, 2000–15f 45
Table 17: Denmark, offshore expenditure, capex and opex ($m), 2000–09 47
Table 18: Denmark, offshore expenditure, capex and opex ($m), 2009–15f 49
Table 19: Denmark, offshore rig activity, ENSCO 70 50
Table 20: Denmark, offshore rig activity, ENSCO 71 51
Table 21: Denmark, offshore rig activity, Energy Endeavour 52
Table 22: Denmark, offshore rig activity, Maersk Resolute 53
Table 23: Denmark, offshore rig activity, Maersk Resolve 54
Table 24: Denmark, offshore rig activity, Maersk Reacher 55
Table 25: Denmark, offshore oil estimated production by company (companies only, excludes not identified, NGLs and wasted), 2010 57
Table 26: Denmark, offshore oil estimated production volume by company (includes not identified, excludes NGLs and wasted), 2010 57
Table 27: Denmark, offshore natural gas estimated production by company (companies only, excludes not identified and wasted), 2010 59
Table 28: Denmark, offshore natural gas estimated production volume by company (includes not identified, excludes wasted), 2010 59
Table 29: Denmark, offshore oil & natural gas estimated production (companies only, excludes not identified, NGLs and wasted) by company, 2010 61
Table 30: Denmark, offshore oil & natural gas estimated production (includes not identified, excludes NGLs and wasted) by company, 2010 61
Table 31: Denmark, top 9 offshore oil estimated production companies (companies only, excludes not identified, NGLs and wasted) by company, 2010 63
Table 32: Denmark, top 10 offshore natural gas estimated production companies (companies only, excludes not identified and wasted) by company, 2010 65
Table 33: Denmark, top 10 offshore oil & natural gas estimated production companies (companies only, excludes not identified, NGLs and wasted) by company, 2010 67
Table 34: Denmark, top 5 offshore oil estimated production companies (companies only, excludes not identified, NGLs and wasted) by company, 2010 69
Table 35: Denmark, top 5 offshore natural gas estimated production companies (companies only, excludes not identified and wasted) by company, 2010 70
Table 36: Denmark, top 5 offshore oil & natural gas estimated production companies (companies only, excludes not identified, NGLs and wasted) by company, 2010 72
Table 37: Denmark, offshore oil estimated production volumes (bcm/year) by company 2010–30 74
Table 38: Denmark, offshore natural gas estimated production volumes (bcm/year) by company 2010–30 76


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