Within Lens Upstream Valuations, you can now edit an asset and change the production and costs to explore different development scenarios and assess the impact on the valuation.

Filter to a single asset and then navigate to the Upstream Valuation tab, where you will find an Edit Asset button at the top of the page.

A data grid will appear, allowing you to adjust annual values for liquid and gas production, tariffs, sunk costs, abandonment costs and more.

Lean more about asset editing in this article

There is now the option to change the tax marker category from the default to another water depth marker (onshore, shelf, deep water and ultra-deep water terms) so you can choose a more appropriate marker for the regimes you are running

In addition you can now run up to 20 regimes allowing you to benchmark more regimes in one go, we've added LNG projects as part of the workflow and there is also the option to switch on the breakeven calculation.

You can now perform fiscal benchmarking in Lens by valuing an asset using any fiscal regime so that you can easily compare the post-tax economics across various countries. For investors, this helps identify countries that have the most attractive fiscal terms for investment. Resource holders can now understand how their fiscal terms compare with those of other countries.

Lean more about fiscal benchmarking in this article.

We have added two new charts to the Summary workflow section.

Success rate chart

The chart shows you clearly how successful exploration has been in the filtered area in terms of technical success (number of discoveries made divided by the number of exploration wells drilled), and commercial success (number of commercial discoveries divided by the number of exploration wells drilled).

This lets you compare overall exploration success for different regions.

E&A well drilling trends

This chart lets you assess overall levels of exploration and appraisal activity globally or within the filtered area or for a filtered company's activity and to see how levels of activity have changed over time.

Want to understand the context behind the data? When we're looking at a single field, we can now see an abstract from its asset report. The abstract aims to give a quick description of the field or project its part of.

For subscribers of Upstream Service (regional entitlement applies), there's also a link that will take you directly to the asset report, providing full context and detailed analysis of the fields you are looking at.

Take a more granular look at development wells, through our newly released and integrated data in two new Lens Direct tables: field_eur_per_well_summary and field_future_dev_well_count.

The field_eur_per_well_summary table allows us to understand what is driving current and future production profiles by comparing the Expected Ultimate Recovery rate (EUR) for wells at deepwater fields.

Also for deepwater fields, analyse our outlook for development wells in the field_future_dev_well_count table. This will provide a forecast of new wells which we expect to be drilled over the next five years (current year +4) plus associated descriptive columns.

These are in addition to monthly historic production per well for US Gulf of Mexico, and Brazil, offshore fields, which were added to Lens Direct earlier in 2023.

Note: this data is held in Lens Direct, and requires a subscription to access.

You can now share a custom price deck with colleagues in your organisation. This reduces duplication of effort and mistakes as a price deck only needs to be created once. Check out how to share your custom price deck here.

You can also now grant editing rights for the views you share with the colleagues. They will be able to make changes to the shared view which is reflected to all. Owners of views can change access levels to recipients via manage access.

We made a number of improvements to our price editing interface and now you can:

View more details here.

Any portfolio you have created in Lens can now be shared with users within your organisation. They will have read only access and once shared, an email notification will be sent to the recipient. There is also the option to look at all portfolios or just those that have been shared with you.

Learn more about sharing options in this article.

Any view you have created in Lens now has an option to share with users within your organisation. They will have read only access. You can also filter out views that others have shared with you.

How is this different from sharing a bookmarked URL?

You can see all your views in one place within Spaces in Lens and any changes you make to the view will be immediately visible to the shared users as well. As owners of views, you can manage access to your views - adding or removing colleagues as you need to in the future.

Find out more here.

Our latest update to the map in Lens gives you the flexibility you need to analyse and visualise data across energy sectors.

Learn more about the new features and view examples here.

You can now export multiple company valuation data into a single Excel workbook so you can easily benchmark metrics and annual cashflow data offline on a regime and asset basis. This is already available for single company valuations and can be found under the export icon.

Easily keep track of an asset’s key modelling changes over time. This is particularly useful if you're following certain group of assets closely and you may be comparing their previous values with the most recent ones seen in Lens. Learn more

Add and remove assets to your portfolio and see the impact on the annual emission intensity profile over time, and then compare this to your original portfolio in the comparison dashboard. In the single portfolio dashboard, we show emissions intensity for all fields (just switch to the table view).

The multi-company dashboard has just got bigger with the following being added in Q4:

🧾 New group-by function lets you easily aggregate data

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​You decide how granular you want to go. The group-by functionality can be applied to any data table in Lens:

All summable metrics will be automatically aggregated. Columns that cannot be summed (like date columns or ratios) will be dropped from the view. Download the grouped data straight from Lens to spend less time fiddling with pivot tables in Excel.

💰 Multiple company valuations

Value multiple companies using your own valuation settings to benchmark and compare results across value, volume and performance metrics, up to 2000 company assets (this will be increased over the coming months).

Use it to:

⭐ New basemap: Bathymetry

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A brand new basemap is available in Discovery, showing ocean bathymetry and land elevation to help users understand development challenges in an area of interest. Download it for visually engaging maps in reports and presentations.

We're really pleased with the resulting map and it's been a long and hard journey to get it right. There were multiple iterations on finding the best design, and many more to optimise the technical aspects for hosting a high-resolution tileset.

🗺️ Offshore platform location data is now available as a standard map layer

and geospatial download for Lens Discovery

Improve your screening and benchmarking workflow with expanded offshore

infrastructure location datasets, visualisations, and functionality.

Key Features include:

📏 Improve productivity of Infrastructure-led exploration (ILX) workflows with

Lens Discovery’s distance measure tool

This latest enhancement helps users understand the distance between critical

infrastructure and improve field exploration vs. development opportunity analysis.

Key Benefit: Users can combine pipeline capacity information with the distance

measurement tool to help answer the following:

💰🔍 Refine field and asset screening with CAPEX, OPEX, and NPV value and

economics filters in Lens Discovery

Lens Discovery users can now screen for fields and find assets according to their

value and cost metrics modeled by Wood Mackenzie base scenarios.

Key Benefits:

💬 Tool tips for filters

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Users now can read more about the filters and their descriptions directly from the filter panel. Use the tooltips at the heading of each filter to read more about it without having to leave the screen.