15 March 2009
"Anyone who has spent any time in the oil business knows that when oil and gas prices are low, exploration budgets will tighten. Once again, we find ourselves in such a situation, and E&P companies are trimming the exploration spend. Many of us have seen all this before – some of us several times. So, what have we learned that will help us to continue to find and produce hydrocarbons when cash is tight?"
"If we can’t commission the survey or drill that well, then we need to rely on the data we already have. Of course, the notion that interpretation and reprocessing can often be cost-effective relative to exploration is hardly new. But it raises the question: Is there really a magic bullet that can radically improve the effectiveness of our interpretations?"
Geotrace Data Integration Services managing director David Sullivan explores this issue in an article in the March 2009 issue of Zeus Technology magazine. In the article he argues for an integrated approach to get more from existing data and thereby improve efficiency, data quality and the robustness of results. Ultimately, he suggests, the aim is to make much better use of exploration dollars, which he demonstrates is possible with case studies from organisations which have found that integration really does pay off.
Download the article "The data you need may be the data you already own" by David Sullivan.
Back to index