Following the double whammy of the collapse in the oil price and the Covid-19 pandemic, exploration plans are being redrawn and the well count is expected to drop by as much as 35% on 2019 levels.
With Brent trading well below US$30/bbl the resilience of the oil & gas sector is once again being pushed to its limit. What does this mean for the UK and Norway upstream sectors?
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More oil and gas was discovered in stratigraphic traps than any other trap type in the last decade. Excelling in stratigraphic trap exploration is now key to top quartile exploration performance.