Yeah...offshore drilling is definitel on the backburner. Extraction costs way too high.
Conventional land based is more or less accounted for. So that leaves lsnd based shale as the premium sorce with new technologies providing solutions for cheaper extraction and improved yield. That's what triggered the oil rout i.e. conventional land reserves versus massive growth in unconventional land reserves. Think thats where the smart money is headed and if Im not wrong where BHP threw some huge money not long ago? It was widely criticised at the time but as OP heads up it should shore up current concerns re Samarco?
Hard one...
News: BHP BHP Billiton CEO says increasing exploration activity, page-29
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