Insight
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6 Pages

Five pillars of exploration success - what makes a good explorer?


Five pillars of exploration success - what makes a good explorer?

Report summary

Basin choice is one of the primary determinants of exploration success. Optimal timing of basin entry is another. But how do the best explorers manage to consistently make better choices than their competitors? In our dialogue with the industry on the fundamental drivers of exploration outperformance, five broad themes arise that are seen as the pillars of consistent strong results:

What's included?

This report includes 1 file(s)

  • Five pillars of exploration success - what makes a good explorer? PDF - 502.00 KB 6 Pages, 1 Tables, 4 Figures

Description

This Oil and Gas Exploration Insight report highlights the key issues surrounding this topic, and draws out the implications for those involved.

For participants, suppliers and advisors who want to look at the trends, risks and issues of this topic, this report gives you an expert point of view to help inform your decision making.

Wood Mackenzie provides accurate and in-depth analysis to help you navigate the ever-changing challenges of oil and gas exploration so you can make key commercial decisions.

  • Executive summary
  • What makes a good explorer?
  • Good explorers have a culture that embraces risk, innovation and creativity
  • Good explorers are technically uncompromising
  • Access to information and data is key
  • Process and capital allocation – without stifling innovation or agility
  • An integrated approach across all conventional and unconventional plays
  • Strategy – the best explorers have clarity of vision and clear goals
  • Oil is found in the minds of man*

In this report there are 5 tables or charts, including:

  • Executive summary
    • Five pillars of exploration success
  • What makes a good explorer?
  • Good explorers have a culture that embraces risk, innovation and creativity
  • Good explorers are technically uncompromising
  • Access to information and data is key
  • Process and capital allocation – without stifling innovation or agility
    • Example of dry hole failure analysis
    • Example of post-well chance of success audit
  • An integrated approach across all conventional and unconventional plays
    • Unconventional and conventional asset life-cycles
  • Strategy – the best explorers have clarity of vision and clear goals
    • Five pillars of exploration success - what makes a good explorer?: Table 1
  • Oil is found in the minds of man*
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