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Book Chapter

Appropriate People and Proper Organization for Successful Exploration

By
Marlan W. Downey
Marlan W. Downey
Senior Vice President ARCO International Oil and Gas Company
Plano, Texas
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Published:
January 01, 1993

Abstract

Discussions about being successful in the oil business sometimes presume that attention can be restricted to financial matters; that the real business is proper management of shareholders' risk capital. Finding an oil field with such a prudent allocation of risk capital is only part of the task of successful exploration managers. It is the leveraging of risk capital by human intelligence and innovation that yields extraordinary profits from exploration successes.

How does one aggregate the appropriate people and the proper organization to be successful? It is not easy to be successful, and it requires addressing numerous questions:

How important is the role of people in exploration success? Can one quantify the worth of staff contributions versus the contribution of risk capital? Are geologists and geophysicists really necessary for exploration success? Can investments in research and in training and motivating staff be justified on an economic basis? Is “Intellectual Capital” a real and measurable benefit to a company? (“Intellectual Capital” is defined as the net value provided an organization by its investment in non-operating technical staff.) Can companies see the worth of their “Intellectual Capital” investment reflected in their earnings? Can a corporation afford exploration staff in difficult economic times? What work structure is most useful in making money? What should we look for in hiring? In firing? . . . In organizing for project effectiveness? What are the responsibilities of exploration people to management?

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Contents

AAPG Continuing Education Course Notes Series

Creating, Managing, and Evaluating Multidisciplinary Teams

Paul Ching
Paul Ching
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;
Marlan Downey
Marlan Downey
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;
John Greene
John Greene
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;
John Masters
John Masters
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;
C. N. Tinker
C. N. Tinker
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American Association of Petroleum Geologists
Volume
35
ISBN electronic:
9781629810959
Publication date:
January 01, 1993

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