Global exploration looking up

摘要

Exploration “should return to profitability in 2017 after five years of only single-digit returns” - with “fewer but better wells” forecast to be drilled in the coming years, says a report by analysts Wood Mackenzie. Dr Andrew Latham, vice president of exploration at Wood Mackenzie, said: “The industry has a good chance of achieving double digit returns in 2017. Smarter portfolio choices and lower costs are already paying off.”