Data mining is key strategy for next cycle of North American exploration

08/20/2001
The recent higher prices for oil and gas coupled with a rising awareness of a potential supply shortage indicate exploration will climb in the next few years. Based on historical trends, this should translate into another wave of exploration in the onshore basins of North America.This prediction is further supported by recent estimates of undiscovered reserves in North America, recoverable with present technology, of 70-100 billion bbl or more. Additional positive incentives include a well-developed surface infrastructure, established markets, low political risk, and mineral leases available at reasonable costs. In addition the virtual abandonment of the onshore areas by most major oil co...
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