Oil and Gas Exploration The process of developing a prospect or
play is a relatively straight-forward endeavor. Billions of
dollars are spent each year generating new oil prospects. The
resulting new oil discoveries are the bloodline of the oil
industry and essential for long term economic growth and
prosperity. The first step in prospect generation is researching
locations (usually focusing on proven petroleum basins) and
identifying potential leads. Once a specific lead has been
identified, information from past and existing wells (well logs)
in the surrounding areas is used to further qualify the leadís
potential oil sources and the geological subsurface structures
in the general area. The task of qualifying an oil lead is
typically assigned to geologists, whether employed directly by
an oil company or under contract from a private firm. Their task
is to find the right conditions for an oil trap -- the right
source rock, reservoir rock and entrapment. Leads can also be
qualified through the use of science.