Exploring the Explorer
Exploring the Explorer #1 - Discovery
Have you ever wondered what it takes to be an oil and gas explorer, or how they think about the world? In a series of articles on Exploring the Explorer I want to put a focus back onto these professionals to give insight about their careers in exploring for oil and gas. Explorers are perhaps seen as less important these days due to the necessity to move towards renewable energy, but regardless I hope you read on to find out about the breed of exploration professionals responsible for value creation over the past 30 years and more.
Based on initial results of my own survey of exploration professionals I will share insights on topics such as inspiration for geoscience, the explorer personality, motivation, resilience, the rush of discovery, and views on moral issues such as corruption and climate change.
Today’s insight is all about Discovery.
1)????Discovery
Exploring for oil and gas is a risky endeavour. A typical frontier well may have only a 15-25% chance of success. Wells in established basins may provide better than 1 in 3 chance of success and the chance of commercial success is often less than 20% overall. Sounds good to you? As exciting as Exploration may be, it is not an end in itself. In terms of oil and gas exploration the aim is to find useable fossil energy resources, at scale.
I asked a range of seasoned explorers about their own success in finding these precious resources during their career and what it felt like to be involved in one of those discoveries that can be a real company maker. One in three of the explorers had either not been involved in a discovery or had only been indirectly involved. The remaining two thirds of respondents had been directly involved, usually as a team, in a commercial hydrocarbon discovery. So, how does it feel to make a discovery? Here are some of the phrases used by successful explorers:
-???????Hugely exciting, a big rush
-???????A feeling of euphoria
-???????It’s a buzz, and fun
-???????A life experience that impacts your career for ever
-???????Like a child being born – many tense moments and joy at the birth
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-???????Very gratifying to be involved with a success
-???????Best feeling comes from collective team success
Making a discovery evokes feelings of getting high, like the effect of some benevolent drug giving a reward for all the long years of effort that always precede exploration drilling. That discovery buzz is powerful and forms a fundamental driver for people in exploration.
Respondents also reflected on the failed attempts at exploring for oil and gas:
-???????A massive let-down when you drill a dry well
-???????Failure will inevitably result in fingers being pointed
-???????Explorers develop resilience to overcome failure and learn for the next time
A discovery may often be followed by a reality check that it is not commercial, a so-called ‘Technical Discovery’. In these cases, the elements of a hydrocarbon system are proven to exist, but this is never likely to impress your CEO!
A big pick-me-up is needed after a failed well and I will share insights next time into why explorers keep coming back again and again after failure, in pursuit of the elusive big one.
The question for the future will be if such feelings of discovery can also be generated from the quest for renewable energy. My view is that this future quest will also have its band of explorers and the satisfaction of discovery will rise to a similar level.
[If you would like to take part in the ongoing survey, please message me on LinkedIn]
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Petroleum Geoscientist and Exploration Manager
2 年Add to this during a well drilling rehearsing the dark day you have to explain to the wife that all those shares you bought will come good on the next well so you just need to rent a house for a few more years honest, as the next well is a certainty...great fun exploring and you always want to do more but its a road not for many as its very emotional laced with an almost religious belief the next well will work. Lots of hangers on with discovery and the total opposite if its not commercial. Who'd be an explorer hey - for those who truely are you made a difference and continue to though like you say Gary you do wonder if anyone realises the crazy path explorers have taken in work and their personal lives....he who dares though
Exploration Manager New Zealand
2 年Great post Gary. My wife always reminds me when I'm involved in drilling an exploration well it's the closest I'll get to being pregnant - you've prepared the well for months (and sometimes years) and are nervously waiting for the outcome hoping it's all positive ??
Gary, a good capture and summary of the post discovery feelings. I’d highlight the pre-discovery feelings that don’t change from the first one to the n’ th one. It’s the feeling in the days, hours and minutes before the drill bit enters the take point, of nervousness, doubt and questioning of the depth conversion, reservoir model, interpretation or fluid. What could I / us have missed? Whether it’s during the day or usually 2am in the morning when most discoveries happen, personally it does not change. And then the excitement as you see the GR shift one way, the Resistivty the other, the wet gas with heavies shifting to the right and oil shows being observed in the cuttings as you pause and circulate bottoms up or gas being circulated out. And then the pressures and sampling hoping to confirm the observations and interpretations. Only then can you / the team relax, if it goes well. A job well done by all.