From an exploration standpoint, the origin is not a big concern. Thats due to the fact that without the trap you have nothing. Knowing it is good background and may be helpful, but unfortunately it won't tell you where it is now. Reservoirs are found by:
1) Luck. Spindletop was drilled on a hill, someone figured maybe that hill extended underground. They were right.
2) Subsurface geology. Based on existing well data, such as formation tops, you try and extrapolate. The different types of reservoirs need different type of analysis. If you are chasing stream channels you do one thing, reef structures another, stratigraphic traps, another, etc.
3) Seismic. Most recently 3d seismic. This is used to image the sub surface. There is lots going on down there and trying to tie together reservoirs, faults, dipping beds, is VERY complicated and not at all definitive. 3d can be used to locate all sorts of traps and has better resolution than 2d seismic.
Most of the low hanging fruit has been picked, certainly in this country. The big new reservoirs will be deeper and harder to find. And unfortunately, usually in someone elses backyard who may not love the rest of the world all that much.
Right now there is 20TCF of gas sitting on top of Prudhoe Bay. No way to get it down here without a pipeline. A big expensive pipeline. The Alaskan oil pipeline is nearing the end of its life, I imagine corrosion is rampant. You won't see that talked about much in the press. The
PR around that thing shutting down would not be good to the price of gasoline, even though the real impact is less. Most oil we use comes from Mexico and Canada.
Not to diverge, but in damn near any issue people argue about, just follow the money. How much of the immigration problem with Mexico is tied to the amount of oil they sell to us? I would guess its more than a trivial part of that pie.