Geophysical Surveying & Mapping Services
Description
Companies in this industry gather, interpret, and map geophysical data. Major companies include Global Geophysical Services, and NuTech Energy Alliance (all based in the US), as well as Logan International (Canada), TGS ASA and Petroleum Geo-Services (both based in Norway), and WesternGeco (UK).
Worldwide, oil and gas exploration drives demand for geophysical surveying and mapping services. To meet growing demand and make up for depletion of existing oil sources, new oil reserves must be discovered. The top five crude oil producers in 2024 were the US, Saudi Arabia, Russia, Canada, and China, according to Investopedia.
The US geophysical survey and mapping services industry includes about 900 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $2 billion.
COMPETITIVE LANDSCAPE
Demand is driven by oil and gas exploration activity. The profitability of individual companies depends on their ability to maintain a steady flow of contract work. Large companies enjoy economies of scale in purchasing and administration, as well as the ability to serve major clients from multiple locations. Small companies can compete by specializing in a specific geography or survey type. The industry is concentrated: the 50 largest companies account for about 80% of revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major services for geophysical surveying and mapping services include data collection, data sales, and integrated geophysical services. Integrated geophysical services and geophysical data processing each account for 25% of revenue. Other services include geophysical data acquisition (20%) and geophysical data interpretation (10%).
Establishments in this industry typically specialize in locating and measuring subsurface resources such as oil, gas, and minerals. They also conduct surveys for engineering purposes. Survey data is often used by oil and gas exploration and production companies to generate high-resolution two-dimensional (2D) and three-dimensional (3D) images of the earth's surface and subsurface. Major survey types include magnetic, gravity, seismic, electrical, and electromagnetic. Surveys are conducted outdoors and are subject to seasonality. Companies can move equipment and crews to different regions and countries to minimize the impact of poor weather conditions and seasons.
Employees are highly skilled and must operate equipment and provide technical services and support for clients. Equipment is highly technical and new technologies or product introductions often require companies to make large investments to upgrade or expand capabilities. While companies often own fleets of survey vessels, computers, and software, they also may rent certain pieces of equipment for specific projects.
Surveys can be conducted on land or in water. Land surveys are carried out by a crew of up to 100 people equipped with special measuring devices. For example, a typical land seismic survey will deploy a crew that buries geophones in the ground. Cables then connect the geophones to a fleet of hydraulic vibrator trucks. However, explosives may also be detonated in holes to create a vibration. Receivers then record signals reflected from subsurface strata. A typical land seismic survey team consists of at least one party manager, one instrument operator, head linesmen, and several crew members.
Marine surveys typically involve large ships that tow streamer arrays containing sensors to gather data. Or in shallow water, cables are placed on the ocean floor and attached geophones and hydrophones are used to collect data.
Worldwide, oil and gas exploration drives demand for geophysical surveying and mapping services. To meet growing demand and make up for depletion of existing oil sources, new oil reserves must be discovered. The top five crude oil producers in 2024 were the US, Saudi Arabia, Russia, Canada, and China, according to Investopedia.
The US geophysical survey and mapping services industry includes about 900 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $2 billion.
COMPETITIVE LANDSCAPE
Demand is driven by oil and gas exploration activity. The profitability of individual companies depends on their ability to maintain a steady flow of contract work. Large companies enjoy economies of scale in purchasing and administration, as well as the ability to serve major clients from multiple locations. Small companies can compete by specializing in a specific geography or survey type. The industry is concentrated: the 50 largest companies account for about 80% of revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major services for geophysical surveying and mapping services include data collection, data sales, and integrated geophysical services. Integrated geophysical services and geophysical data processing each account for 25% of revenue. Other services include geophysical data acquisition (20%) and geophysical data interpretation (10%).
Establishments in this industry typically specialize in locating and measuring subsurface resources such as oil, gas, and minerals. They also conduct surveys for engineering purposes. Survey data is often used by oil and gas exploration and production companies to generate high-resolution two-dimensional (2D) and three-dimensional (3D) images of the earth's surface and subsurface. Major survey types include magnetic, gravity, seismic, electrical, and electromagnetic. Surveys are conducted outdoors and are subject to seasonality. Companies can move equipment and crews to different regions and countries to minimize the impact of poor weather conditions and seasons.
Employees are highly skilled and must operate equipment and provide technical services and support for clients. Equipment is highly technical and new technologies or product introductions often require companies to make large investments to upgrade or expand capabilities. While companies often own fleets of survey vessels, computers, and software, they also may rent certain pieces of equipment for specific projects.
Surveys can be conducted on land or in water. Land surveys are carried out by a crew of up to 100 people equipped with special measuring devices. For example, a typical land seismic survey will deploy a crew that buries geophones in the ground. Cables then connect the geophones to a fleet of hydraulic vibrator trucks. However, explosives may also be detonated in holes to create a vibration. Receivers then record signals reflected from subsurface strata. A typical land seismic survey team consists of at least one party manager, one instrument operator, head linesmen, and several crew members.
Marine surveys typically involve large ships that tow streamer arrays containing sensors to gather data. Or in shallow water, cables are placed on the ocean floor and attached geophones and hydrophones are used to collect data.
Table of Contents
- Industry Overview
- Quarterly Industry Update
- Business Challenges
- Business Trends
- Industry Opportunities
- Call Preparation Questions
- Financial Information
- Industry Forecast
- Web Links and Acronyms
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