The Exploration Cycle

 There are  three   basic phases  of prospecting  in which various  mapping techniques  and methods are required . 

1. The first  is  the initial exploration phase of  a property . Generally , few , if any wells have been  drilled  on or near  the prospect  and therefore , prospect evaluation  relies on seismic data , limited well control , a good  geologic concept  , and  comparaison   or analogies  to nearby  properties .For exploration  purposes  the emphasis may be  on defining  major sand units , locating the larger potential fault  traps , and preparing  regional  subsurface maps . 

         The aim of this work is to identify  undiscovered  economic hydrocarbon accumulations .

1. The second phase of prospecting  ocurs after  a field has been  discovered  and several  wells have been drilled . Continously accumulated well log , core , seismic , and performance  data are used  to fully develop  the field  and obtain a good  estimate of  the volume  of recoverable  hydrocarbons . 

In these newly  discovered fields , the geologic study may include  the mapping  of all recognized  faults  , the preparation  of structure , contour maps , interval  isopach maps , and net sand  and net pay isopach maps  for all known  hydrocarbon bearing  reservoirs , in addition  to a variety  of cross sections . These maps and cross sections  may be used  to estimate reserves , justify  additional  development  drilling , or establish  a field depletion plan . 

1. The third  and final phase of prospecting  occurs in maturely  developed properties . With increasing amounts  of log  and performance  data , volumetrics are compared to performance  to refine the geological  maps and ultimate  reserve estimates .

  All  the geologic , geophysical , and engineering  information  is used  to help identify  any            hydrocarbons  that remain . In any   integrated study  being conducted in a mature  area  with the   purpose of identifying  economic reserves  not capable   of being  recovered  by existing                producing    wells , to identify  additional  potential overlooked  in previous studies or to plan     secondary  or  enhanced  recovery projects .

The most detailed maps  are required , as well as the analysis of  reservoir  performance  data .  This detailed  work requires   a team  effort  consisting  of team  members  experienced in      various  disciplines , including geology , gophysics , and petroleum  engineering .It is during this  final phase  of prospecting  that many companies have  failed to recognize  and approve the kind of integrated , detailed interdisciplinary  work required to find all  the remaining oil and gas . 

Exploration : 

Exploration's  mission is to acquire access to new petroleum resources .

• Identifies and evaluates new areas 
• Acquires rights to explore 
• Identifies leads 
• Matures leads to propects 
• Selects prospects for drilling 
• Drills wildcats and appraisals 
• Shares evaluation with Development on development . 

Lead & Prospect : 

Lead	Prospect
Suggests the potential for a wildcat location	Sufficiently defined to be drilled
Substantial uncertainty remains in the potential size and chance of success	Uncertainty remains in the potential size and chance of success
Key elements of the petroleum system may not be supported by any hard data	Major elements of the petroleum system are defined

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