exploration cost

(redirected from Exploration Costs)

Exploration Cost

The cost an oil or gas company incurs while searching for oil or gas to drill. Exploration costs include the cost of researching appropriate places to drill and the cost of actually drilling. There is no guarantee that there will be a return on the investment of exploration costs because there is no guarantee that the company will find oil or natural gas. Exploration costs can also be quite expensive. See also: Exploration oil & gas limited partnership, Upstream.

exploration cost

The cost of searching for and drilling exploratory gas and oil wells.
References in periodicals archive ?
Lundin Petroleum AB (Lundin Petroleum) will expense pre-tax exploration costs of approximately MUSD 10 and recognise a net foreign exchange loss of approximately MUSD 201 for the third quarter of 2015.
The oil giant blamed higher exploration costs and ongoing woes in refining for the poor end to its year.
are among the companies that have contributed to almost $425 million on exploration costs in 2012, a significant part of the industry's job contribution.
MADRID, February 25, 2010 (Balochistan Times ): Repsol YPF SA, the biggest Spanish oil company, said Thursday it swung to a net profit in the fourth quarter as a rise in production offset a fall in oil and gas prices and higher exploration costs.
In some cases, exploration costs have caused oil firms to delay or cancel major projects.
5 million (US) for the next two years to cover all of Wallbridge's exploration costs, as well as any mine development.
A BUSY week on the Irish exploration front continued when Dana Petroleum announced a deal to split exploration costs in North Africa with a firm controlled by Australia's Woodwide Petroleum.
It was to cover all exploration costs and pay Sonatrach for what it had spent on previous exploration at the block.
The GPTC agreement with Rodinia also grants the option to acquire up to an additional 40% of the project from the operator in exchange for paying $125,000 that was owed by GPTC to the operator of the prospect, as well as agreeing to spend the next $400,000 in exploration costs on the property.
AngloGold Ashanti s all-in sustaining cost, which includes sustaining capital expenditure, as well as corporate and exploration costs, declined by 22% to $993/oz.
Echo") with a 15% interest in the Bronco property until September 30, 2006 in consideration of $50,000, after which they will be required to fund 50% of the exploration costs.
Company officials are also pointing to bad weather conditions, which affected open-pit operations, and higher exploration costs as factors for the drop.
Full browser ?