Oil or Alibis: ABSTRACT

Abstract

Management believes the sole purpose of its exploration team is to find new oil and gas at a cost less than present realization, in amounts sufficient to replace current production, and provide a reserve for future operations and growth. To accomplish this objective it is assumed that members of the team are properly prepared by education, experience, and temperament to do the job. Tools and equipment are available in the many aides and services of paleontology, geophysics, electric logging and its related determinations, mud logging, areal surveying, and the resources of our research organizations. A vast record of past and current technology, theory, and accomplishment within the industry on a global scale is available through the A.A.P.G., other technical societies, and by reference text books on the subjects. Close contact between exploration and development activities is essential to provide the exploration department with first-hand knowledge of well-drilling techniques and to furnish detailed subsurface data which are often the basis of more regional studies. Management expects the exploration team to have an economic measure of its operations in order that the contemplated expenditures bear a reasonable relationship to possible returns. The successful exploration team is the one which can integrate and use the tools and principles to the best advantage in finding oil. End_of_Article - Last_Page 358------------