{"id":17699,"date":"2025-05-22T10:42:48","date_gmt":"2025-05-22T09:42:48","guid":{"rendered":"https:\/\/www.westwoodenergy.com\/?p=17699"},"modified":"2025-06-02T10:54:08","modified_gmt":"2025-06-02T09:54:08","slug":"the-state-of-exploration-2025","status":"publish","type":"post","link":"https:\/\/www.westwoodenergy.com\/reports\/the-state-of-exploration-2025","title":{"rendered":"The State of Exploration 2025"},"content":{"rendered":"[vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overflow=”visible” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][tabbed_section style=”default” tab_change_animation=”fade” alignment=”left” spacing=”default” tab_color=”Accent-Color” vs_content_animation=”fade” vs_link_animation=”opacity” vs_navigation_alignment=”left” vs_navigation_width_2=”25%” vs_navigation_func=”default” vs_navigation_width=”regular” vs_navigation_spacing=”15px” vs_navigation_mobile_display=”visible” vs_tab_spacing=”5%”][tab icon_family=”none” title=”Report Overview” id=”1748857479712-0″ tab_id=”1748857479713-9″][vc_column_text css=”” text_direction=”default”]This is the sixteenth edition of Westwood’s State of Exploration Report. The 2025 edition of the State of Exploration analyses conventional high impact exploration drilling activity and performance in 2024, over the last five years of 2020-2024, and provides a longer lookback at industry trends over the 15 year period 2010-2024.<\/p>\n

The report discusses the significant discoveries of 2024 and analyses exploration trends by basin and play. It also considers company activity and performance to provide insight on the drivers behind exploration success. The role of infrastructure led exploration is discussed, and resource progression and cycle times of high impact discoveries are also benchmarked.[\/vc_column_text][image_with_animation image_url=”17744″ image_size=”full” animation_type=”entrance” animation=”None” animation_movement_type=”transform_y” hover_animation=”none” alignment=”” border_radius=”none” box_shadow=”none” image_loading=”default” max_width=”100%” max_width_mobile=”default”][vc_column_text css=”” text_direction=”default”]\n

Access the 129-page report<\/h3>\n

The annual report is available to Wildcat subscribers or on an individual purchase basis. Please either complete the form below or email sales@westwoodenergy.com<\/span><\/a> for purchasing options.[\/vc_column_text][\/tab][tab icon_family=”none” title=”Report Contents” id=”1748857479762-2″ tab_id=”1748857479762-5″][vc_column_text css=”” text_direction=”default”]Executive Summary<\/strong><\/p>\n

Section 1 \u2013 Introduction and Methodology<\/strong><\/p>\n

Section 2 \u2013 Global High Impact Exploration Review<\/strong>
\n2.1 2024 overview and significant discoveries
\n2.2 High impact exploration 2020-2024
\n2.3 Key global oil and gas basins 2020-2024
\n2.4 Frontier play exploration
\n2.5 Emerging play exploration<\/p>\n

Section 3 \u2013 Company Performance<\/strong>
\n3.1 High impact exploration by peer group
\n3.2 The 20 most active high impact explorers – activity and portfolio
\n3.3 The 20 most active high impact explorers – performance<\/p>\n

Section 4 \u2013 Long Term Exploration Trends 2010-2024<\/strong>
\n4.1 Overall activity and performance
\n4.2 Exploration trends and performance<\/p>\n

Section 5 \u2013 Hight Impact Versus Infrastructure Led Exploration
\n<\/strong>5.1 Offshore ILX and non-ILX drilling
\n5.2 ILX versus HI exploration
\n5.3 Company ILX strategy and performance<\/p>\n

Section 6 \u2013 High Impact Resource Progression and Cycle Times<\/strong>
\n6.1 High impact project sanctions in 2024
\n6.2 Status of high impact discoveries and discovered resources 2010-2024
\n6.3 High impact exploration and development cycle times<\/p>\n

Glossary and Definitions<\/strong>[\/vc_column_text][\/tab][\/tabbed_section][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” bg_color=”#4a7afa” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overflow=”visible” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none” gradient_type=”default” shape_type=””][vc_column column_padding=”padding-3-percent” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid” column_padding_type=”default” gradient_type=”default”][vc_raw_html css=””]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[\/vc_raw_html][\/vc_column][\/vc_row]\n","protected":false},"excerpt":{"rendered":"

The sixteenth edition analyses conventional high impact exploration drilling activity and performance from 2010 to 2024.<\/p>\n","protected":false},"author":13,"featured_media":17702,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[353,347,337,323,48,318,325],"tags":[102,298,58,264,435],"class_list":{"0":"post-17699","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-news","12":"category-reports","13":"category-wildcat","14":"tag-appraisal","15":"tag-ea","16":"tag-exploration","17":"tag-high-impact-drilling","18":"tag-oil-and-gas"},"acf":[],"yoast_head":"\nThe State of Exploration 2025 - Westwood<\/title>\n<meta name=\"description\" content=\"The sixteenth edition analyses conventional high impact exploration drilling activity and performance from 2010 to 2024.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.westwoodenergy.com\/reports\/the-state-of-exploration-2025\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The State of Exploration 2025 - 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