exploration — Oil & Gas Glossary
The initial phase in petroleum operations that includes generation of a prospect or play or both, and drilling of an exploration well. Appraisal, development and production phases follow successful exploration.
In the News
Equinor Q1 2026 MMP Trading Profits Beat $400M Guidance as Persian Gulf War Drives Crude Volatility, Norway Gas Spreads Widen
Prices & MarketsApr 18, 2026
BP CEO Meg O'Neill Unveils Upstream-Downstream Restructuring, Reversing 2020 Green Pivot Under Elliott Management Pressure
Exploration & ProductionApr 17, 2026
Petrobras Approves $12 Billion SEAP I Final Investment Decision in Sergipe-Alagoas Basin, Targeting 120,000 BPD First Oil by 2030
OffshoreApr 16, 2026