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Exploration Activity

Over the last 20 years, there has been a significant decline in oil exploration globally. Reports indicate that only 1 barrel is discovered for every 4 barrels consumed. The trend shows that more oil is being consumed than discovered since 1985. Stay informed on the critical state of oil exploration with insights from Halbouty and Wells.

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Exploration Activity

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  1. Exploration Activity • Declined Worldwide over last 20 yrs • 1 bbl discovered for every 4 bbls consumed (Halbouty, Explorer 8.04 p. 36) • More oil consumed than discovered every year since 1985 (Wells, OGJ 2/21/05 p. 21) cac 2005

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