Publication Date: 05/2015
Today, oil and gas exploration is a higher risk business, but the benefit and potential returns are also greater. Operating an offshore rig costs millions of dollars per day, but potential returns are in the billions.
A wealth of scientific data has accumulated over the century and a half since the Titusville boom, making it easier for companies to assess oil and gas reservoirs, yet oil companies are spending more on exploration and finding less. Therefore, one of the problems that exploration companies face is how to reduce both the risk of failure and their costs at the same time.
Download: Doing More with Less (2 MB PDF)