Land Seismic Equipment & Acquisition Market Will See A Capital Expenditure (Capex) Of $$2,168.2mn In 2018
03 August 2018
Visiongain’ has launched a new energy report The Land Seismic Equipment & Acquisition Market Forecast 2018-2028: Forecast and Analysis By Equipment (Sensors, Sources, Cable based acquisition systems, Wireless acquisition systems & Other equipment) and By Region Plus Profiles of Leading Companies in the Land Seismic Equipment & Acquisition Market
Land seismic operations are explorations for hydrocarbon resources onshore. Seismic surveys are carried out using waves of energy to help build up an image of an area and the resources beneath.
For E&P and mining industries, land seismic surveys are carried out to generate subsea bottom profiles. This type of surveying is conducted by generating mechanical sound waves that are sent into the earth. The energy reflected back from the earth is measured by recording sensors which are installed in mounted trucks which consist of tapes to record any activity. The land seismic operations require various equipment such as geophones, seismic sensors, streamers, hydrophones, air or water gun, streamers, and sub-bottom profilers.
Declining prices of oil & gas have resulted in cutting investments in the E&P oil & gas sector. This, in turn, has resulted in land seismic acquisition companies making major cuts with regards to spending in order to remain profitable during this market downturn. Thus, the land or onshore seismic equipment & acquisition is highly dependent on the price of oil & gas prevailing in the market.
The visiongain report analyst commented “Due to volatility in crude oil and natural gas prices, several upstream companies are cutting E&P budgets and even spending on land seismic equipment. However, technological advancements coupled with increased energy requirement in developing nations and exploitation of shale gas reserves are key drivers for the growth in demand for land seismic equipment over the forecast period.”
Leading companies featured in the report who are involved in Land Seismic Equipment & Acquisition include IGSS, Geometric, INOVA Geophysical, ION Geophysical Corporation, iSeis – Seismic Source Co., Mitcham Industries Inc., and others.
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