What's new in exploration ///

Before we can discuss exploration technology, we should agree on just what “exploration” means. Numbers on how much is being spent on exploration typically are reported as being from “E&P” activity. Such expenditures are over-statements of actual “E” dollars. Money spent on development (“P”) is quite real. Management at that point knows they own something of value and are spending investment dollars to determine the extent of that value. Any “E” going on at that point will be in New Ventures or the Land Department, to see if any more of “those” opportunities still exist and are available.

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