ABSTRACT

The most valuable and least expensive tool used in exploring for oil is the time of a trained, creative exploration geologist. Unfortunately there are times when a geologist's job becomes so structured that he spends less time looking for oil than he would like. Ultimately we, as a profession, will be judged on whether we can find reserves of oil at a price per barrel less than the market price. In spending geological man hours, we must be acutely aware of costs and responsibility accounting. We must adapt our thinking to a principle of "reserve centered" accounting so that each unit of exploration is held accountable for finding reserves of oil at a reasonable price. With the tremendous demand for energy that our country now faces, it is more important than ever that we search for ways and means of getting the maximum creative effort from each geologist.

End_of_Record - Last_Page 122-------