With 3D seismic enjoying the reputation of being a necessity for almost all exploration activity, maybe it's time to say "thanks" to all our geophysical contractor friends.

Sometimes there's a lag between the reading of a press release and the little light bulb in my head that says, "Gee - this is intriguing!"
Such a press release came my way a few months ago from Western Geophysical. Seems the company had been given credit for providing the 3D data acquisition, processing and depth imaging that led to three giant discoveries in the Gulf of Mexico. This includes Crazy Horse, which operator BP Amoco estimates is the Gulf's largest deepwater discovery. (The other two are Mad Dog and Atlantis.)
Steve Peacock, vice president of exploration for the Gulf of Mexico at BP Amoco, was quoted as saying, "Prewell, we had an excellent quality seismic dataset."
This is all quite nice. It's also rather unusual. While 3D seismic typically gets credit, along with horizontal drilling, for being one of the biggest technological breakthroughs in the petroleum industry, rarely does one see a specific seismic contractor being directly credited for aiding in the discovery of a large field.
I'm not sure why this is. Perhaps it's because oil companies like to think it was their interpretation of the data, rather than the dataset itself, that led to the discovery. This is no doubt true. But I'm not sure a lousy dataset can magically become the key to a large discovery merely because it's in the hands of a skilled interpreter.
I think in larger part it's because of the time lag between the delivery of the dataset and the announcement of the discovery. While this has been reduced over time, it still can be several years in some cases, particularly in these deepwater areas.
But this is still no excuse in the eyes of some contractors. There is growing concern within the geophysical contracting community that the money they've poured into research and development over the years has resulted in reduced risk for oil and gas companies but not much return on their investment. Breakthroughs have been numerous on all fronts - acquisition, processing and interpretation. Contracting firms have spent millions on newer vessels, bigger computers and more brainpower to feed the industry's insatiable appetite for seismic data. Yet it remains one of the most difficult segments of the industry in which to turn a profit. (See our special feature on the seismic industry this month.)
So contractors are seeking new niches to entice more oil company dollars. One of these is reservoir seismic. And while the benefits of time-lapse or 4D seismic to operators have been touted for years, there's one very real benefit to the contractors as well - a more direct link between the service provided and the results obtained.
"If I say to an asset manager, 'Let's look at this reservoir seismic - it will give you $1,000 a day more,' it's very easy to sell that," said John Greenway, vice president of corporate communications for PGS. "If I talk about 3D seismic through licensing and say, 'This can probably reduce your exploration risk by 17% over the long haul worldwide,' it's a harder sell. You're closer to the borehole with production, and it's an easier equation."
This is not to say that reservoir seismic will become all the rage and replace 3D's use in exploration. Seismic contractors will continue to offer multiclient data for licensing rounds and other exploration purposes as well as contract with clients for surveys over acreage already held, and oil companies will continue to use that data to make discoveries large and small. The contractors will continue to apply their not-inconsiderable expertise to finding new ways to acquire, process and interpret that information. And oil companies will continue to watch their exploration risk diminish as they work with this data.
Just remember to say "thanks," will ya?

Editor's note: Since I wrote my column last November on the propensity of oil companies to lay off their older skilled workers whenever prices take a tumble ("Brain Drain," page 103), I've received numerous E-mails from "forcibly retired" geologists and geophysicists looking for work. I'm rarely aware of specific openings, but I can steer you to www.energycareers.com. This Web site, co-sponsored by Hart Publications, offers a no-fee way for job seekers to post their resumes on the Web where prospective employers worldwide can access them based on various search criteria.