The global oil and gas industry largely retreated from searching for new resources in frontier areas in recent years amid concerns about long-term oil demand, the surge of production from the U.S. shale industry and highly volatile commodity prices. Yet new resources are likely needed to meet oil demand decades into the future. Is the industry’s appetite for frontier exploration and development returning? Where are the most promising areas and what is needed to unlock those resources? Which companies will play a leading role and how will they finance their operations?