The Internet has been heralded for business success and conversely blamed for many high profile business failures in recent years. Portrayed as a panacea or evil, the reality inevitably lies somewhere in between. So, how can this technology tool be used to best advantage in the E&P industry?

In E&P today much of a company's success lies in managing the oil and gas asset lifecycle. The framework in Figure 1 indicates how the oil-and-gas asset life cycle can be analyzed and the effect of the Internet on the cycle.

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The axes of the life cycle matrix are two main metrics...

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