
Integration is Key

Due to natural production decline, finding more resources is crucial for maintaining Oil and Gas production and company cash flow. Companies can grow their portfolios organically by discovering new drill-worthy prospects or inorganically by acquiring existing production or exploration opportunities.
Utilizing existing subsurface data can enhance this process. A thorough analysis of the petroleum system, including reservoir analysis, pressure trends, and seismic data, is essential. Summarizing reservoir information by stratigraphic play helps identify known and unknown areas, guiding further necessary analysis such as seismic reprocessing or assessing reservoir presence and continuity.

Implementing a comprehensive derisking plan to unlock additional resources is essential. Prioritizing the appropriate actions will help mitigate specific risks and enhance the Geological Probability of Success (GPos), while also minimizing expenditures on irrelevant studies or data acquisition.
With an updated perspective on the play and risk profile, investments could be directed towards drilling additional prospects or identifying potential opportunities outside existing acreages through commercial means such as farm-ins.