High impact exploration in 2020 down but not out, Westwood says

Exploration plans are being redrawn and the well count is expected to drop by as much as 35 per cent on 2019 levels due to the “double whammy” of the oil price collapse and COVID-19 pandemic, according to market research provider Westwood Global Energy Group.

At the start of the year, the number of high-impact wells was expected to be similar or slightly higher than the 93 wells completed in 2019.

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