Prospecting for new sources of supply is a part of the ordinary routine business of the oil industry to an extent not true for any other mineral industry.

The art of prospecting for petroleum has been developed to a high degree of perfection, but it has developed naturally as an outgrowth of the production department. Functionally, no branch of the entire industry is more important than the exploratory branch and it should be established as a department as independent as refining. This is true even in connection with the drilling of exploratory wells.

Some of the advantages which should follow such form of organization are: more effective results as a consequence of the placing of definite responsibility; the development of cost accounting for oil finding; and the development of definite drilling equipment and technique for exploration as distinguished from the existing exploitation technique and equipment.