If oil & gas producers get more serious about exploration in 2027, where is the spend going? My latest poll was a landslide.
The upstream sector has pulled way back on exploration activity for the past 10 to 15 years.
And it’s becoming a problem, as oil demand continues to grow, and there are fewer sources of new supply ready to quickly come online.
Knowing the appetite for new exploration is growing, I decided to run a poll.
The question was simple. Which region do you expect to capture the biggest share of these new hypothetical exploration dollars?
The results, as you can see in the chart below, point in one direction: Latin America.
Guyana, Vaca Muerta, and Brazil all figure prominently here.
They are regions where enthusiasm continues to build, and capital is flowing with greater confidence.
When you have some of the world’s premier operators like ExxonMobil and Petrobras in the fold, it’s easy to imagine a wave of investment materializing in short order.
While we’re hearing a lot of talk about the need for exploration, we have to wait to see if actual capital moves as a result.
And if it does, if you believe the crowd, we sure need to keep our eyes on Latin America.
