The seven Majors are to the fore, with a similar number of E&Ps still in the high-impact wildcatting game.
The improving price outlook is already pushing up the cost of new acreage. Competition for hot blocks in top licensing rounds is fierce – witness signature bonuses of more than US$1 billion in Brazil so far this year.
https://www.woodmac.com/news/the-edge/exploration-gets-its-mojo-back/
Witness signature bonuses... That's on top of what they are paying for the licence, makes our PEL29 (3.66Bln barrels)look rather discounted at the current sp
The seven Majors are to the fore, with a similar number of E&Ps...
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