{"id":15303,"date":"2023-05-18T12:15:59","date_gmt":"2023-05-18T11:15:59","guid":{"rendered":"https:\/\/www.westwoodenergy.com\/?p=15303"},"modified":"2025-04-17T13:07:13","modified_gmt":"2025-04-17T12:07:13","slug":"state-of-exploration-2023","status":"publish","type":"post","link":"https:\/\/www.westwoodenergy.com\/reports\/state-of-exploration-2023","title":{"rendered":"The State of Exploration 2023"},"content":{"rendered":"[vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][tabbed_section style=&#8221;default&#8221; tab_change_animation=&#8221;fade&#8221; alignment=&#8221;left&#8221; spacing=&#8221;default&#8221; tab_color=&#8221;Accent-Color&#8221; vs_content_animation=&#8221;fade&#8221; vs_link_animation=&#8221;opacity&#8221; vs_navigation_alignment=&#8221;left&#8221; vs_navigation_width_2=&#8221;25%&#8221; vs_navigation_func=&#8221;default&#8221; vs_navigation_width=&#8221;regular&#8221; vs_navigation_spacing=&#8221;15px&#8221; vs_navigation_mobile_display=&#8221;visible&#8221; vs_tab_spacing=&#8221;5%&#8221;][tab icon_family=&#8221;none&#8221; title=&#8221;Report Overview&#8221; id=&#8221;1744891597355-4&#8243; tab_id=&#8221;1744891597356-5&#8243;][vc_column_text]The fourteenth edition of this report reviews conventional exploration performance between 2018-2022. Significant discoveries in 2022 are reviewed, and performance trends by basin, play and company are analysed. The report benchmarks company activity, strategy and performance, and considers the outlook for global exploration activity in the face of the energy transition.<\/p>\n<h6><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-15305 size-large\" src=\"https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2023\/05\/Potentially-Commercial-High-impact-discoveries-in-2023-v2-1024x601.jpg\" alt=\"Potentially Commercial High-impact discoveries in 2023 v2\" width=\"1024\" height=\"601\" srcset=\"https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2023\/05\/Potentially-Commercial-High-impact-discoveries-in-2023-v2-1024x601.jpg 1024w, https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2023\/05\/Potentially-Commercial-High-impact-discoveries-in-2023-v2-300x176.jpg 300w, https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2023\/05\/Potentially-Commercial-High-impact-discoveries-in-2023-v2-768x451.jpg 768w, https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2023\/05\/Potentially-Commercial-High-impact-discoveries-in-2023-v2-1536x902.jpg 1536w, https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2023\/05\/Potentially-Commercial-High-impact-discoveries-in-2023-v2.jpg 1954w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><br \/>\nPotentially Commercial High Impact Discoveries in 2022<br \/>\nSource: Westwood Wildcat<\/h6>\n<h3>Inform exploration strategy with the latest insights on the key drivers behind exploration activity and performance<\/h3>\n<ul>\n<li>Review the key basins and plays of the last five years<\/li>\n<li>Benchmark competitor performance and learn from their successes and failures<\/li>\n<li>Identify discovered resource opportunities<\/li>\n<li>Gain insights into the game changing wells of 2022<\/li>\n<\/ul>\n<h3>Access the 100-page written report<\/h3>\n<p>To access the report, please complete the form below or contact <strong><a href=\"mailto:sales@westwoodenergy.com\">sales@westwoodenergy.com<\/a>.\u00a0<\/strong><\/p>\n<p>On purchase of the report, Westwood will provide access to the webinar recording, a copy of the webinar presentation and will offer a web meeting to present the executive summary and highlights of the report. All data is derived from <strong><a href=\"\/wildcat\">Wildcat<\/a><\/strong>.[\/vc_column_text][\/tab][tab icon_family=&#8221;none&#8221; title=&#8221;Report Contents&#8221; id=&#8221;1744891597389-8&#8243; tab_id=&#8221;1744891597390-3&#8243;][vc_column_text]<strong>Executive Summary<\/strong><br \/>\n<strong>Section 1 \u2013 Introduction and Methodology<\/strong><br \/>\n<strong>Section 2 \u2013 Global High Impact Exploration Review<\/strong><br \/>\n2.1 2022 overview &amp; significant discoveries<br \/>\n2.2 Drilling activity &amp; performance 2018-2022<br \/>\n2.3 Key oil and gas basins 2018-2022<br \/>\n2.4 Frontier play exploration<br \/>\n2.5 Emerging play exploration<br \/>\n<strong>Section 3 \u2013 Global High Impact Exploration by Company<\/strong><br \/>\n3.1 High impact exploration by peer group<br \/>\n3.2 The 22 most active high impact explorers<br \/>\n<strong>Section 4 \u2013 W30 Benchmark Group Exploration Performance 2018-22<\/strong><br \/>\n<strong>Section 5 \u2013 Resource Progression<\/strong><br \/>\n5.1 Cycle times<br \/>\n5.2 Stalled resources<br \/>\n<strong>Section 6 \u2013 The Outlook for Exploration<\/strong><br \/>\n<strong>Glossary and Definitions<\/strong>[\/vc_column_text][\/tab][\/tabbed_section][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; bg_color=&#8221;#4a7afa&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221; gradient_type=&#8221;default&#8221; shape_type=&#8221;&#8221;][vc_column column_padding=&#8221;padding-3-percent&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; column_padding_type=&#8221;default&#8221; gradient_type=&#8221;default&#8221;][nectar_animated_title heading_tag=&#8221;h6&#8243; style=&#8221;color-strip-reveal&#8221; color=&#8221;Accent-Color&#8221; text=&#8221;Request more information&#8221;][vc_raw_html css=&#8221;&#8221;]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[\/vc_raw_html][\/vc_column][\/vc_row]\n","protected":false},"excerpt":{"rendered":"<p>The fourteenth edition of this report reviews conventional exploration performance between 2018-2022<\/p>\n","protected":false},"author":6,"featured_media":15307,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[353,347,337,323,318,325],"tags":[102,59,58,93,231,142],"class_list":{"0":"post-15303","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all_articles","8":"category-exploration-and-production","9":"category-global-ea-subsectors","10":"category-global-ea","11":"category-reports","12":"category-wildcat","13":"tag-appraisal","14":"tag-drilling","15":"tag-exploration","16":"tag-gas","17":"tag-global-exploration","18":"tag-oil"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - 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