The success rate of global conventional oil and gas exploration has declined in recent years, but the most painful blow has been to onshore wildcat wells, a Rystad Energy analysis reveals. In 2020, the success rate of these drilled wildcats plummeted to an all-time-low of 10.6%, marking an annual decline for a fourth year in a row. Meanwhile, the exploration success rate offshore Guyana at the prolific Stabroek block remains the highest in the world at around 80%, with multi-billion-barrel discovery potential remaining.
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