Why getting someone to manage your Seismic matters

One of the great things about seismic is that, once you have acquired it, you own it and can do what you want with it.

Apologies to the ‘open source’ seismic movement, and to the ‘copyright vs legislative environment’ folks right off the bat; seismic is still fairly expensive to acquire and doesn’t directly produce hydrocarbons, so making people who pay to acquire it give it to you, isn’t cool.

Like I said, you acquired it, you own it.

And besides the fact that it gives you extensive insight into the subsurface, helps to reduce risk and adds value, you can choose to sell or license that seismic at any time you wish. Given that many companies have extremely large proprietary seismic databases, licensing seismic can generate multiple millions of dollars every year. That’s a good thing.

Licensing seismic is a process, like everything else. In order to generate the maximum value from the asset, you need several pieces in place:
• You need to know where your seismic is and what the ownership is. It may seem silly to think that this information gets misplaced or is incorrect, but it happens
• You need to market your data. If people don’t know it’s there, you can’t generate revenue from it
• You need to have internal processes to license the data, from understanding ethical uses of seismic to having a licensing agreement
• Internal processes and approvals for making it available to prospective buyers needs to happen fast. ‘First past the post’ usually wins when it comes to licensing seismic – no proportional representation here!!
• You need to be sure that you are dealing with a reputable broker that is backed by a solid company. That company should have segregated funds so that your licensing revenue is never mingled with their operating revenue
If you have that all in place and working, then you’re good. The problem is, because of reduced netbacks, not many companies have all this in place.

The result? You may not be getting all you can out of this important asset.

Getting Sigma to manage your seismic data marketing will ensure you don’t run that risk.

In fact, more than 90% of companies that have their data managed externally trust Sigma to do just that.

Sigma’s core business is marketing seismic, so it stands to reason that we’d have the processes in place to ensure efficiency. From the best brokers in the industry, to SigMAP – the industry’s leading online seismic viewer – to a dedicated full-time support team, we have the pieces in place to get the most out of your asset.

Many companies continue to look for ways to reduce non-core activities in order to allow their employees to focus on critical activities.

Outsourcing the marketing of seismic data achieves this goal, saves money, and allows a devoted and expert team to focus on marketing your very important asset.