Maybe in this country, but on a worldwide basis, Exploration has not been weakened in technical prowess, just in financial aspects has it slowed down.
I guess I didn't make my point clear.
There are two aspects to any discovery. One is in selecting where to drill, but the other is out in the field with a microscope, knowing what to look for, with an understanding of what shows mean what, and how to test them.
With 20 years between booms, knowledge of particular formations and basins will be lost due to attrition--especially when those in the field often end up doing something else, after having been bumped from the top/middle/bottom of their particular service company's pay scale, or having to find work elsewhere due to the implosion of the drilling end of the industry.
Getting laid off in the drilling end is a crapshoot. When I worked for other people, I got laid off from the top, middle, and bottom of the pay scale--capability and seniority are no guarantees of remaining employed, and can actually work against someone. So what happens?
The most experienced field hands get the axe from Company 'A' because they can put two bodies in the field for the price of one (yours). That management style may have its flaws, but there are those who think that way.
They may apply elsewhere, but they are laying people off there, too, and there are no jobs to be had.
So some of the most experienced hands end up unemployed.
Getting laid off from the bottom of the food chain is common, last in, first out.
From the middle usually occurs when a rig someone has been following for an oil company gets laid down, other hands are established with clients, and there is no place to go.
I have seen all three situations, and that doesn't include the sellout/shutdown one, where those jobs go away, period. In this last downturn, 8 out of 10 drilling rigs (from the peak) were shut down, and 8 of 10 wellsite geology or mudlogger jobs evaporated when they did. Since geology is the most region specific job out there, running off to a new basin or play isn't as simple as it is for the guy in worm's corner, whose job is much the same anywhere.
I love the field, don't get me wrong, and that isn't whining, it's just the way things work.
My advice to young geologists? If you're going into the oil industry, get an office job. You won't work an 84 hour week, you can have a 401K, you can plan a vacation, you can buy stuff and not wonder if you can get it paid for before the work runs out. You may even get credit for the reserves you find. You might get a bonus from time to time, and you'll spend a lot less time looking for work.