As illustrated with globally aggregated results and also examples from several basins, complex basins are characterized by:
High spatial and temporal heterogeneity driven by multiple petroleum systems, active tectonics, and the interaction of fundamental controls.
An extended history of exploration, development, and production that is resistant to rapid "creaming".
Multiple new play openings, and important learnings over this long history, including "surprises" late in play life.
Effective exploration and exploitation of such basins requires a disciplined approach that includes these factors:
Continuity of effort and knowledge, especially at a regional and play scale. While digital capture and archival of fundamental data and interpretations is essential, the development of human capability is the most important factor in remaining an effective explorer in complex basins.
Effective development and application of new technologies. Especially impactful is improved seismic technologies, such as Full Wave Inversion, subtle DHI recognition tools, and improved acquisition (e.g., long offset, wide azimuth, multi-component, etc.).
Rapid anticipation, comprehension and recalibration of paradigms with drilling and other results. In complex basins, new plays extend the exploration lifecycle. Early recognition of a new exploration concept or play element is a competitive advantage, as most value capture in new plays occurs early (first mover advantage).
Consistent approach to opportunity characterization, especially resource assessment and risking. To effectively deploy company resources, an accurate and objective estimation of risk/reward/cost facilitates better portfolio investments in the face of a fiercely competitive landscape.
