Publication Date: 05/2015
These are challenging times in the oil and gas industry. It seems as though almost overnight things have gone from a stable oil price of US$100/bbl, to a wobblier less than US$50/bbl.
The industry has reacted to this with substantial redundancies, a huge reduction in exploration and a general feeling of discomfort across the board.
In addition, the industry is looking at exploration in more difficult territories -harder to reach, remote and hostile environments where subsurface data is more expensive to acquire, and areas that are environmentally sensitive.
Even when the oil price stabilizes to a price where companies are able to tentatively widen their exploration focus, these are the areas that are going to provide exploration companies with a challenge in the future.
Download: Exploration in a Low Price Era (1 MB PDF)