Short Answer
Teams map the subsurface with gravity, magnetic, and 3D seismic data, lease minerals, and drill to prove hydrocarbons. Only a well confirms commercial volumes.
What It Means to an Investor
Exploration verifies a full petroleum system: source rock, reservoir, seal, trap, and migration. Modern 3D seismic reduces dry‑hole risk by imaging traps; leasing secures mineral rights; an exploratory well validates volumes and quality. Oklahoma examples include Woodford source rocks and STACK/SCOOP targets.
