E&D organizations face structure, focus, cost issues

The structure and business orientation of exploration organizations promises to be a key issue for the exploration and development sector in 2002.Team concepts and the application of global knowledge to local geologic opportunities are taking hold in some companies in unprecedented ways.Despite the opening of large, previously closed areas of the world to exploration in the 1990s, much prospective acreage remains off-limits, especially in and off the US.Drilling and completion costs have been at historic high levels in recent years and are difficult to predict even a year ahead due to uncertainties about oil and gas prices and consolidation in the service and supply industry.Salaries for ...

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