Exploration themes - 5 things to look for in 2018

The exploration industry is emerging from the downturn confident that it has put its house in order. But expect only gradual change through 2018. The number of committed explorers has dwindled and corporate diversity will remain unusually low. Much of the industry is chasing rather similar opportunities, raising the spectre of sharper competition eroding margins. Industry investment and well counts will be slow to recover. We assess the outlook for global conventional exploration highlighting five themes.