Fewer Seismic Firms Could Taint Recovery: Executives
By: James Mahony Published: Daily Oil Bulletin While raising few problems in the current downturn, a dwindling stable of Alberta seismic firms could pose problems later, when a recovery starts to take shape, seismic industry leaders said recently. For seismic acquisition firms in particular, activity in Western Canada has been at a low ebb for the past two years, three, according to some executives. When oil and gas producers once again turn to exploration, as they likely will, the fear is that the ensuing rush will overwhelm the few surviving firms, leaving many producers hanging. “Our initial [concern] is that there won’t be enough [acquisition contractors] left to put out the number of crews that could be required,” said Mike Doyle , head of the Canadian Association of Geophysical Contractors (CAGC). While the market will eventually catch up, a key question is just how long that will take, he said. Doyle estimated that in 2002, Alberta had about 20 seismic acquisition comp...