Deep analysis and informed decisions are critical, but at the end of the day we acknowledge the most exciting prospects need capital, expertise and the will to put a bit in the ground before commercial viability can be proven. Dry holes and uneconomic wells are part of our exploration strategy and always offer an opportunity to learn and improve. We learn from these, move on and choose not to dwell on the dusters.
We spend time to understand a prospect generator's vision, the project's infrastructure needs, and various milestones necessary to achieve commercial viability. By drawing on our past experiences, multi basin knowledge and industry relationship, we are able to apply the most up to date techniques to improve the chances of project success.
* We will acquire PDP assets that involve any of the strategies above with a preference of creating value through the drill bit