Onshore - Offshore & International - New Ventures - Acreage Management Strategy
Mosaic actively manages its acreage portfolio, which is continually assessed based on the prospectivity, work obligations and strategic importance of that acreage within Mosaic's overall business strategy. Exploration Permits and/or Production Leases are surrendered if insufficient hydrocarbon potential remains or if economic potential no longer exists. Equally, the Company evaluates areas adjoining its existing acreage, as well as elsewhere in those petroleum basins in which the Company is active, to identify additional opportunities.
Consequently, Mosaic's exploration and drilling program is also continually reassessed and prioritised. Permit management and compliance, seismic planning and the general exploration program are under the management of the Company’s Exploration Manager.