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

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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:

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

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Table of contents

  • 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*

Tables and charts

This report includes 5 images and tables including:


  • Five pillars of exploration success
  • Example of dry hole failure analysis
  • Example of post-well chance of success audit
  • Unconventional and conventional asset life-cycles


  • Five pillars of exploration success - what makes a good explorer?: Table 1

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