Appraising the Last Reserves: Finding Opportunity in Exploration Technology

June 13, 2016 | State of the Market Report

The oil industry is expected to spend $40 billion per year on exploration and appraisal between 2016 and 2018, compared to the $80 billion spent annually between 2012 and 2014. With discovery volumes the lowest in the past 60 years, the industry could face a major shortage of supply in the next few decades, driving interest in improved and novel exploration technologies. We analyze startups developing technologies for exploration of new oil and gas reserves and assessment of existing ones using the Lux Innovation Grid and highlight several companies that have distinguished themselves.

Coverage Areas

  • Exploration and Production
  • Owning the Energy Transition

Table of Contents

  • Title page
  • Executive Summary
  • Contents
  • Technology development in exploration technology
  • Analysis
  • Outlook

Lead Analyst

Colleen Kennedy


Brent Giles, Ph.D.

About Lux Research

Lux Research is a leading provider of tech-enabled research and advisory solutions, helping clients drive growth through technology innovation. A pioneer in the research industry, Lux uniquely combines technical expertise and business insights with a proprietary intelligence platform, using advanced analytics and data science to surface true leading indicators. With quality data derived from primary research, fact-based analysis, and opinions that challenge traditional thinking, Lux clients are empowered to make more informed decisions today to ensure future success.

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