Oil & Gas Exploration and Production

Oil & Gas Exploration and Production

Oil & Gas Exploration and Production Jonathan Poland

The exploration and production (E&P) sector of the oil and gas industry is concerned with the early stage of energy production, which typically involves finding and extracting oil and natural gas. E&P companies specialize in locating and extracting raw materials that are used in the energy business, but they do not typically refine or produce energy themselves. Instead, they focus on finding and extracting the raw materials, which are then shipped to other companies within the production process for further processing.

After identifying potentially viable fields, a well is drilled to test the findings by collecting samples. If there are both the quality and quantity needed to produce and sell commercially, the production of oil wells begins. The oil and gas deposits are extracted from the wells, stored temporarily, and eventually shipped via a pipeline to a refinery. The resource owners and operators of E&P work with a variety of contractors, such as engineering procurement and construction (EPC) contractors, joint-venture partners, and oil field service companies. In the process of locating and extracting oil and gas, E&P companies also build infrastructure and collect massive amounts of analytical data.

Extracting oil and natural gas from the earth’s surface is a highly debated and complicated process that requires a significant amount of financial and physical effort. Despite the controversy surrounding it, this process is essential for powering vehicles, heating buildings, generating electricity, and producing a wide range of products such as deodorant, MRI machines, and pacemakers. Without these resources, the economy and daily life would come to a halt.

Industry’s Top Companies:

  • ConocoPhillips
  • EOG Resources
  • Candadian National
  • Occidental Petroleum
  • Pioneer Natural Resources
  • Woodside Energy Group
  • Devon Energy
  • Hess Corporation
  • Texas Pacific
  • Marathon Oil
  • Chesapeake
  • Southwestern Energy
  • Murphy Oil

Learn More…

Negotiation Tactics Jonathan Poland

Negotiation Tactics

Negotiation tactics are strategies and techniques used in the process of negotiation…

Consumer Services Jonathan Poland

Consumer Services

Consumer services are services that are provided to individual consumers, rather than…

Dynamic Pricing Jonathan Poland

Dynamic Pricing

Dynamic pricing refers to the practice of changing prices in real time…

Domain Knowledge Jonathan Poland

Domain Knowledge

Domain knowledge refers to a person’s understanding, ability, and information about a…

Knowledge Transfer Jonathan Poland

Knowledge Transfer

Knowledge transfer is the process of transferring knowledge, skills, and information from…

Message Framing Jonathan Poland

Message Framing

Message framing is the way in which information and communications are constructed…

Labor Specialization Jonathan Poland

Labor Specialization

Specialization of labor involves dividing work into specific roles or tasks, with…

Competitive Advantage Jonathan Poland

Competitive Advantage

Competitive advantage refers to the unique advantages that a firm possesses over…

Cultural Norms Jonathan Poland

Cultural Norms

A cultural norm is a shared belief or behavior that is considered…

Jonathan Poland © 2023

Search the Database

Over 1,000 posts on topics ranging from strategy to operations, innovation to finance, technology to risk and much more…

Business Experience Jonathan Poland

Business Experience

Business experience refers to any work experience, including paid employment, freelance work,…

Risk Capacity Jonathan Poland

Risk Capacity

Risk capacity is the maximum level of risk that an organization or…

Knowledge Capital Jonathan Poland

Knowledge Capital

Knowledge capital refers to the resources and capabilities that enable a nation,…

Collective Intelligence Jonathan Poland

Collective Intelligence

Collective intelligence refers to the ability of a group to solve problems,…

Examples of Competency Jonathan Poland

Examples of Competency

Competencies are the various traits and capabilities that enable an individual or…

Business Management Jonathan Poland

Business Management

Business management is the process of overseeing and running a business or…

Generic Brand Jonathan Poland

Generic Brand

A generic brand is a type of brand that does not have…

What is Promotion? Jonathan Poland

What is Promotion?

Promotion refers to any marketing strategy that is aimed at increasing recognition,…

Data Architecture Jonathan Poland

Data Architecture

Data architecture refers to the principles, structures, standards, controls, models, transformations, interfaces,…