SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?


To: Sweet Ol who wrote (5799)7/6/2001 8:39:53 PM
From: jim_p  Read Replies (2) | Respond to of 23153
 
John,

I suspect 1000 rigs with today's technology will find more oil and gas than 4000 rigs back in the 70's.

Back in the 70's the success rate on exploration was around 10% vs. as high as 50-70% in some cases due to both the availability and the enhanced technology of seismic.

In addition, it takes fewer wells to drain the same reservoir since the wells today are better positioned.

Jim