OIL 101

INTRODUCTION TO
EXPLORATION

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 EXPLORATION
This Exploration overview includes:

Exploration Processes

History of Exploration

What are Hydrocarbons

The Basin-Play Concept

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Key Steps in Exploration

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 The Play

Step 1:
Understand and evaluate the geologic
setting, called a play.

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 Obtaining a Lease

Step 2:
Obtain access to the potential reserves
usually in the form of a lease.

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 Drilling a Wildcat Well

Step 3:
Determine where to drill and complete
a successful discovery or “wildcat
well.”

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 Recognizing Reserves
Step 4:
Add additional hydrocarbon reserves to
the oil company portfolio using
guidelines set by the Society of
Petroleum Engineers (SPE) and the US
Securities and Exchange Commission
(SEC).

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 What are Fossil Fuels?

Oil and gas are composed of hydrocarbons, a

mixture of hydrogen and carbon atoms, formed
millions of years ago.

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 Early Hydrocarbon Discoveries

Early hydrocarbon discoveries were usually traced from

natural seeps at the earth’s surface.

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 Introduction of Seismology

Developments in the science of seismology added

necessary tools and analytics to improve success in oil
and gas exploration.

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 Refraction

The introduction of refraction technology to find salt

domes with oil and gas potential in the US Gulf Coast
began in the 1920’s.

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 Seismic Goes 3-D

Seismic advances during World War II continued the innovation

that aided the search for oil.

Advances in computing power since the 1980’s allowed for

development of 3-D seismic surveys.

3-D technology increased the use of seismic data for

oil and gas production as well as exploration.

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 Exploration - Finding Reserves

The primary purpose of exploration is to discover new

accumulations of hydrocarbons, called reserves.

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The Basin-Play Concept

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 What is a Basin?

A basin is a very large geographic area containing

sediments formed in a similar geological age like the
Permian Basin in West Texas.

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 What is a Play?

A play is a location, or group of locations, with oil

and/or gas potential within a basin.

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 Drilling Prospects

The indication of potential for faults or traps become drilling

targets, called a drilling prospect.

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 Before the Play Concept

Prior to the play concept, exploration risk analysis concentrated

on a single prospect often without technically considering its
relationship to other similar prospects.

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 Play Concept - Reducing Risk

Today, the play concept gives explorationists the ability

to leverage successes and reduce risk across numerous
wells, reservoirs, and fields as they explore for new
hydrocarbons and enhance existing oil and gas
accumulations.

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 An Iterative Process

Exploration is very iterative.

Every lease investment in a play and well drilled to define the

size of the reservoir improves exploration success.

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 Reservoir Delineation

Data from both positive and negative wildcat wells

helps delineate the discovered reservoir and every
additional well and downhole measurement improves
the understanding of the field.

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 There's More?

This Intro to Exploration material was taken from our

Oil 101: Introduction to Oil and Gas
course.

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 Who are we?
EKT Interactive staff have provided oil and gas training
since 1986.

Visit us at www.ektinteractive.com to learn more.

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