The document discusses the importance of project development in oil and gas extraction. It notes that after exploration identifies an area with oil and gas resources, the development stage begins. This involves the drilling company creating an assessment of the project's potential impacts and management plans, as well as placement of wells and general site planning. With extensive planning, extraction projects can proceed efficiently through their entire lifecycle.

1. The Importance of Project
Development in Oil and Gas
Extraction
By North American Drilling
Corporation

2. Introduction
• Founded in 2006, the North American Drilling
Corporation is an independent producer of oil and gas
based out of Plano, Texas. In addition to its active
projects, the NA Drilling Corporation currently has
several projects in the development phase.
The overall process of oil and gas extraction follows the
stages of exploration, well development, production, and
site abandonment, and the second stage is perhaps the
most important for a successful, long-term project. After
an area with possible oil or gas resources has been found
and exploration has determined that sufficient oil or gas
exists, the development stage begins.

3. Project Development
• As part of the stage, the drilling company creates
and submits an assessment of the process,
detailing its prospective impact on the area and
how the company plans to manage that impact.
Development also includes placement of the
wells to be drilled and general planning of the
site. With extensive planning, oil and gas
extraction projects can proceed efficiently
throughout their lifecycle.