Changes

Exploration risk is best understood by studying historically what has and has not been successful in a basin. In other words, what combination of the seven critical elements occurred to form existing fields and, conversely, what are the main reasons for the [[dry hole]]s in that same basin? Is a common element responsible for the dry holes?

Exploration risk is best understood by studying historically what has and has not been successful in a basin. In other words, what combination of the seven critical elements occurred to form existing fields and, conversely, what are the main reasons for the [[dry hole]]s in that same basin? Is a common element responsible for the dry holes?

The goal of an exploration effort is to use all the data available to identify fully the technical risks and recommend the best course of action and investment. Action following a field project might range from no action, to acquiring more data in key areas, to drilling a well.

The goal of an exploration effort is to use all the data available to identify fully the technical risks and recommend the best course of action and investment. Action following a field project might range from no action, to acquiring more data in key areas, to [[drilling a well]].

==Critical element checklist==

==Critical element checklist==