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wildcat. 1. n. [Drilling] An exploration well. The significance of this type of well to the drilling crew and well planners is that by definition, little if anything about the subsurface geology is known with certainty, especially the pressure regime.
- What Is Wildcat Drilling?
- Understanding Wildcat Drilling
- Special Considerations
Wildcat drilling, a form of high-risk exploratory drilling, is the process of drilling for oil or natural gas in unproven or fully exploited areas that either have no concrete historic production records or have been completely exhausted as a site for oil and gas output. This higher degree of uncertainty necessitates that the drilling crews be appr...
Exploration and productionare the first stages of energy production, which include searching and extracting oil and gas. An E&P company finds and extracts the raw materials used in the energy business. The term "wildcat drilling" probably has its origins in the fact that drilling activity in the first half of the 20th century was often undertaken i...
Another aspect of wildcat drilling involves small producers exploring for oil in fields that have already been fully exploited by larger oil companies. These fields can have sizable pockets of oil reserves that are uneconomic for larger producers due to economies of scale but are still worthwhile for smaller, more agile wildcat drillers. A 2008 Mas...
Wildcat drilling means drilling for oil or natural gas in areas that have remained unexplored or unproven. The drilling venture is much riskier if the area has no history of oil or gas production, hence the word ‘wildcat’ .
8 de nov. de 2023 · A wildcat well is a will drilled outside of an area with known gas and oil reserves. Learn why it's a risky venture.
24 de feb. de 2020 · Two recent tales underline the high risks and potential rewards of wildcat oil drilling, with one firm striking oil and another forced to abandon its investment after encountering a dry hole. We look at the delicate balance involved and ask why, despite the risks, activity is picking up. Heidi Vella February 24, 2020.
Wildcat provides all the information E&P companies need to improve their exploration performance. It provides the data needed to build an exploration strategy, benchmark new ventures and access opportunities, calibrate the risk and resource of prospect inventories, and define an appraisal plan that will lead to successful developments.
