Over the last twelve months, exploration has subtly shifted away from high-impact frontier wildcatting, towards lower-risk exploration in mature basins. This was encouraged by calls from shareholders for capital discipline and improved returns - and is a trend that we expect to be reinforced in 2015 in light of low oil prices. Preliminary results from 2014 indicate that explorers operating in proven basins delivered the best results - but that commercial success has been challenging to achieve.
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Insight | Jan 2015
Global Exploration: 2014 in review
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