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What Is Wildcat Drilling?

By Motley Fool StaffUpdated Nov 22, 2024 at 9:16 AM

Key Points

  • Wildcat drilling involves high-risk ventures outside known oil fields, with uncertain outcomes.
  • Recent studies show onshore wildcat success rates dropped from 60% in 2016 to just over 10% in 2020.
  • ExxonMobil's successful wildcat operation in Guyana highlights potential huge payoffs, despite risks.

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