The Challenge of the Frontier

The frontier areas of the continental shelf and slope are estimated to contain a significant fraction of the undiscovered oil and gas potential of the United States. The history of the exploration cycle of the Permian Basin represents a typical producing province and demonstrates a statistical probability that the larger part of the ultimate reserves in frontier areas will be found in larger fields early in the exploration cycle. The petroleum industry is prepared to meet the challenge of exploration for oil and gas in the frontier areas.