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EXPLORATION
METHODLOGIES
There are three (3) primary methodologies used to find hydrocarbons in the subsurface:
Geophysical, Remote Sensing, and Wildcatting.
GEOPHYSICAL SURVEYS
Geophysical techniques used for petroleum exploration utilize equipment to measure such
things as: electrical currents, gravitational and magnetic anomalies, heat flow, geochemical
relationships, and density variations from deep within the earth. Each technique records a
different set of characteristics which can be used to locate hydrocarbons beneath the surface
of the earth.
REMOTE SENSING
Remote Sensing (RS) is the use of aerial photographs to locate and map surface features.
Increasing use of satellite imagery is being made because it shows large areas on the surface
of the earth. Even though the photographs are taken from several hundred miles up in space,
they are able to show features only a few feet in size. And satellite imagery not only indicates
what the human eye can see, but they can also reveal subtle variations in soil moisture,
mineral and vegetation distribution, and soil type, all of which are import pieces to the
exploration puzzle.
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Once an area is selected and the satellite imagery obtained, the exploration geologist utilizes
mapping techniques to produce a geologic map (a map that indicates geological structures by
using conventional symbols) for the area. The series of lines and arrows indicate the type of
structure that exists at the surface.
For example, the above image was taken in November 1972 by a NASA satellite orbiting over
500 miles out in space, shows the surface topography very clearly for an area in
Southeastern Oklahoma known as the Ouachita Mountains. These mountains are comprised
of folded and faulted Paleozoic strata which are buried beneath younger sediments toward
the south. These mountains are made of a combination of structures called anticlines,
synclines, and faults, all of which form various types of hydrocarbon traps.
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WILDCAT
The term "wildcat drilling" probably has its origins in the fact that drilling activity in the
first half of the 20th century was often undertaken in remote geographical areas. Because of
their remoteness and distance from populated areas, some of these locations may have been,
or appeared to be, infested with wildcats or other untamed creatures in the American West.
Presently, with global energy companies having scoured much of the Earth's surface for oil
and gas, including deep oceans, few areas remain unexplored for their energy potential.
Wildcat drilling amounts to a small proportion of the drilling activity of large energy
companies. For small energy companies, wildcat drilling can be a make-or-break proposition.
Investors in such companies can reap significant rewards if such drilling results in locating
large energy reservoirs. Conversely, wildcat drilling that repeatedly results in dry holes can
lead to adverse stock performance or even bankruptcy for small-cap energy companies.
Another aspect of wildcat drilling involves small producers exploring for oil in fields that
have already been fully exploited by larger oil companies. These fields can have sizable
pockets of oil reserves that are uneconomic for larger producers due to economies of scale, but
are still worthwhile for smaller, more agile wildcat drillers. A 2008 Massachusetts Institute
of Technology study estimated that even with high oil prices, about two-thirds of the oil in
known oil fields is being left in the ground. They say this is because existing technologies
that could extract far more oil, as much as about 75 percent of the oil in some oil fields, are
not being widely used by large oil companies. This leaves an important market segment open
to smaller wildcat oil drillers.
Wildcat drillers have little impact on the market price of oil, but provide an essential role
that allows for greater oil and gas output than would be possible without their participation.
REFERENCES:-
http://www.dnr.louisiana.gov/assets/TAD/education/BGBB/5/techniques.html
https://www.investopedia.com/terms/w/wildcatdrilling.asp