Africa and South America are projected to remain the primary regions for high-impact exploration drilling in 2026, with an estimated 19 and 15 wells respectively. Globally, around 65 such wells are forecast to be completed, a level consistent with the previous year. This activity reflects a continued slowdown, attributed to explorers exercising capital discipline while building acreage portfolios for future optionality.

Africa

Key activity in Africa includes four wells in Namibia's Orange Basin and Chevron's Gemsbock well in the frontier Walvis Basin. In the Tano-Ivorian basin, four wells are due, including three by Murphy. Major frontier tests are also scheduled: Eni's Matsola in the offshore Sirte basin, TPAO's Curad-1 offshore Somalia, a Shell Velox well in the Herodotus, and Azule's Piambo in the Namibe basin.

South America

The Suriname-Guyana basin and Brazil's Santos and Campos basins will dominate regional drilling. Suriname is expected to host more wildcats than Guyana, with Petronas leading activity with at least two wells. In Brazil's Santos basin, BP's Tupinamba well is a key prospect near its Bumerangue discovery. Frontier drilling is also anticipated in deepwater Uruguay and offshore Peru. Petrobras will focus on Brazil's Equatorial margin, with the Morpho well drilling and the Mae de Ouro well planned in the Potiguar basin.

Asia Pacific

An estimated 10-12 high-impact wells are planned for the region. Key frontier tests include TotalEnergies' Mailu well offshore Papua New Guinea and deepwater prospects in Malaysia. Petronas may end a 12-year hiatus with its Akbar-1 well in eastern Indonesia, while Eni continues drilling in the Kutei basin. In India, frontier campaigns in the Andaman and Kerala-Konkan will conclude, with Vedanta planning deepwater drilling in the Krishna-Godavari basin. Santos is expected to return to exploration in Australia's Roebuck basin from late 2026.

Europe

The western Black Sea is emerging as a hotspot. OMV Petrom will drill the Krum well in the Bulgarian Black Sea and the Anaconda prospect offshore Romania, testing emerging turbidite plays.

North America

High-impact drilling is expected to remain subdued. Key activity is concentrated in the US Gulf of Mexico, including BP's Conifer-1 wildcat marking its return to the Paleogene, and planned wells by Shell, Chevron, and TotalEnergies. No high-impact wells are anticipated in Alaska or Eastern Canada.