1. n. [Geology]

An area of exploration in which hydrocarbons have been predicted to exist in economic quantity. A prospect is commonly an anomaly, such as a geologic structure or a seismic amplitude anomaly, that is recommended by explorationists for drilling a well. Justification for drilling a prospect is made by assembling evidence for an active petroleum system, or reasonable probability of encountering reservoir-quality rock, a trap of sufficient size, adequate sealing rock, and appropriate conditions for generation and migration of hydrocarbons to fill the trap. A single drilling location is also called a prospect, but the term is more properly used in the context of exploration. A group of prospects of a similar nature constitutes a play.

See related terms: amplitude anomaly,  anomaly,  basin,  exploration,  fairway,  generation,  hydrocarbon,  migration,  petroleum system,  play,  reservoir,  seal,  source rock,  structure,  subsalt,  trap