Appraisal wells to watch: Majors leading the way on key wells in Q1 Report

Insight 25 April 2023

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Report summary

Q1 2023 saw over 40 appraisal wells spudded across the world. National Oil Companies (NOCs) operate over 60% of these wells we're watching. Seven key appraisal wells were drilled across Latin America, Africa, Europe and the Caucasus. Unlike the first quarter of the year, IOCs will operate over 60% of all appraisal wells scheduled to be spudded in Q2 and Q3 2023. We expect a significant uptick in the ratio of onshore wells. Majors – alongside NOCs – will again drill the key appraisal wells for this quarter across deepwater Europe, the Americas and Africa. In this edition, we take you through a detailed look at our selection of wells, why we deem them key, as well as subsurface information about drilling locations and targets.