exploration cost

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 ?
2011's drilling programme in the area made the company write of nearly $1 billion in exploration cost.
Lundin Petroleum AB (Lundin Petroleum) will expense pre-tax exploration costs of approximately MUSD 31 and recognise a net foreign exchange loss of approximately MUSD 69 as well as an after tax loss on sale of assets of MUSD 15 for the fourth quarter of 2017.
Lundin Petroleum AB (STO:LUPE), an independent oil and gas exploration and production company with operations focused on Norway, announced on Wednesday that the profitability for Q4 2017 will be impacted by certain expensed exploration costs, a loss on sale of assets, as well as a net foreign currency exchange loss mainly related to the revaluation of loan balances.
Lundin Petroleum AB (STO:LUPE), an independent oil and gas exploration and production company with operations focused on Norway, announced on Wednesday that it will expense pre-tax exploration costs and impairment charges of approximately USD33m and recognise a net foreign exchange gain of approximately USD185m for Q3 2017.
The oil giant blamed higher exploration costs and ongoing woes in refining for the poor end to its year.
The agreement gives Teck an option to gain 75% in Albaa[euro](tm)s Limerick Zn-Pb base metal project in Ireland by providing USD400,000 (EUR298,000) exploration costs at the project over four years, Alba said in a statement.
According to the joint venture agreement, RIL Australia will hold 49 percent participating interest in the licences and offer 49 percent of the exploration costs.
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.
ENI results have also been sustained by a reduction in fixed costs and exploration costs.
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