In our industry the value of geophysical data is very significant, yet often is overlooked. Companies should consider third party valuations of their databases as part of their annual audits- as this will assist in boosting the company’s value. In most cases the value of your seismic database is more than one might imagine. A third-party review is something corporations should be considering for this year (and on an annual basis) using a procedure that is recognized as the standard methodology. The monetary value of seismic data is a combination of revenue that could be generated by licensing copies of the seismic to third parties, as well as the value inherent in the seismic because of its utility as an exploration tool.
Having a third-party valuation of your seismic data ensures that it is properly recognized and valued as an asset in your company. It is also essential in preparation for potential asset divestitures. Today’s marketplace is tumultuous to say the least. Boards of Directors and management teams are faced with the difficult task of keeping shareholder confidence and maintaining company value in a low commodity market. As a Geoscientist, you can help. Often seismic is overlooked and no book value has been placed on it. You can change that.Back