New Exploration and Production (E&P) Technology
There are five dominant technology themes in today's oil and gas industry

Drilling:  Geometries and lateral lengths have become much more aggressive resulting in higher rates, recoveries, and lower costs per bbl/mcf.

Fracing:  Advances in and wider use of hydrofracing are core to non-conventional oil and gas developments, especially shale gas plays and light, tight oil fields.

Deep Water:  Advances in offshore production technology of all types are extending the industry's reach and lowering its costs, especially as the E&P industry looks to deeper water.

Seismic:  Improvements in seismic continue to lead to breakthroughs in exploration and production, and have been directly responsible for the discovery of large subsalt reserves in the Gulf of Mexico and offshore Brazil.

Enhanced oil recovery:  CO2, steam injection, miscible flooding and other technologies are increasingly being used to extract more oil from already producing fields.