Debate revived on seismic technology focus on exploration vs. production

The focus of the seismic business has undergone a seismic shift of its own.For decades, seismic has been primarily a tool for exploration and development of oil and natural gas.As seismic resolution improved and costs came down, industry saw increasing opportunity for optimizing production in a cost-effective way.This trend accompanied the operating companies’ own shifting focus in a low commodity-price environment to acquire existing reserves and expand reserves in mature producing areas rather than emphasize high-risk wildcatting.But an unexpected surge in demand coupled with the global oil production capacity surplus shrinking to a sliver has spiked oil prices to record levels an...

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