The oil price below $60 a barrel is hitting historically low rate since 2008. With the world’s oil production exceeding consumption by nearly two million barrels a day, it’s quite possible that we might not see the days of $100 oil for some time to come. This time of volatile oil prices reinforces the need in exploration to give priority to low cost technologies to high grade potential.
Many companies have announced significant cuts (on average in the range of 25%-50% in their 2015 development, appraisal and exploration budgets. Some of them may adopt a “wait and see” attitude because the desired rates of return are difficult to achieve. Other companies, however, will attempt to take advantage of this situation or simply cannot afford to stop and wait. The key word for all those moving forward is optimization.
It is not so much a single point technology as it is the integration of technologies and how they bring those together. In 2015, more emphasis will be placed on technologies that reduce cost, save time and improve efficiencies.
It might be the right moment to review what Geodynamics WorldWide portfolio can do for your company’s asset. We provide combinations of innovative and proven exploration technologies that (1) give you a direct hydrocarbon indicator through passive seismic spectroscopy, (2) produce quick results and see structures by running in combination magnetotellurics and geochem with respect to conventional active 2D, (3) safeguard your budget because our cost is at a fraction of what “traditional exploration” is priced over large acreages, (4) allow companies to better spend their money and concentrate, for instance, conventional seismic expenditures in areas earlier identified by other technologies (magnetotellurics, geochem, passive, micro seismic, etc.).
Companies are developing best practices at all times and those practices get implemented faster at lower prices. We have testimonials of clients who have successfully applied one of more of our technologies, and have added value to their assets and helped the strategy move forward.
So if you are looking for a low cost and optimized way to do onshore oil and gas exploration with a team of experienced professionals, you should not shy away but consider our services in your 2015 budget. It might be exactly what you wish for.
