The recent drop in oil prices should not have surprised those that closely follow seismic activity. Historically, the health of the seismic segment has been a reliable indicator of the future health of the entire upstream oil and gas sector. Seismic is usually first to slow down, and then often leads the subsequent business upswing.
Early indications. The current seismic downturn started in late 2013. As 2014 unfolded, and even with the other oilfield segments booming, the woes of the seismic companies only increased. Their stock prices went into a steady decline, profitability dried up, and staff reductions materialized. By mid-2014, the seismic sector was the worst-performing segment in the upstream complex. Some companies lost 50% or more of their stock value from early 2013 levels.
Brazil s second bidding round of surplus volumes of the Onerous Assignment of the Fields of Atapu and Sepia is confirmed for 17 December 2021. PGS Santos Vision covers both of them.
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