For continuous renewal of the exploration portfolio a constant supply of new opportunities must be identified and evaluated, with the best efficiently matured to drill-ready status. Harvesting the best opportunities can lead to a portfolio becoming over-represented by leads that despite best efforts have stubbornly refused to mature. These zombie leads provide a false impression of the true value of the portfolio and can substantially reduce value when finally excised from the inventory.
Renewal requires new ideas to be developed, initially through maturation of the recognised plays utilizing well executed Play Based Exploration (PBE) studies but must also consider the potential for totally new plays to be identified. Acquisition of new data or reprocessing or existing data provides a tool to facilitate the maturation of these new play concepts, but rarely does new data alone deliver success.
Ascendience specialises in helping clients organically grow new opportunities both within their held acreage but also through evaluation of farm-in opportunities and perhaps most importantly the recognition of coveted acreage that can be licensed where available or proactively recommended for future gazettal release.