If you were anything like me you had good intensions for a spring clean-up. You saw your neighbors tidying their property so you did a little… just enough to keep it respectable. We all know that a well-kept yard, a tidy and organized house is great but other things always came up delaying the complete job that was needed. (And here we are weeks later… still some work to do?) Is it a pain - yes. When you are done – it feels good though, right? Some of us do this every year and others get busy doing other things and push it aside. Well, good news is that you might have had the time now (due to CV-19). If you have time and you have the tools to get the job done that is great. If you don't have the tools you can hire a contractor that can do a professional job in a timely fashion. OK, yes you guessed it - I’m trying to draw a parallel between your home and your seismic database.
We all know that A & D (Acquisition & Divestiture) activity is happening. If you’re buying you want to acquire properties with a clean and tidy database. If you are selling you won't get any value for your data if it isn't all accounted for within your seismic database.
If someone asked you where all the necessary information for trading, licensing, or in some cases, finding the actual physical seismic- could you confidently say yes?
Do not be that person with the unkept house. Like any ‘cleaning’ project, investing the time and effort to do it properly is important– especially when the job is hard (which means it really needs to get done!). If you need help, ask your neighbors.
Stop feeling guilty for not doing that complete spring clean-up you wanted to do. It’s no problem! You can still get it done this fall.
Sooner or later you will be asked for information on your geophysical data, and you will want to be able to say:
- “Yes, I have centralized data: AFE’s, licenses, land agreements and more.” All “could be” centrally loaded into our seismic management program, making it simpler to find and access data.
- “Yes, I have efficient data access”: documents are now all online and immediately available, allowing disposal/recycling of boxes of paper files. Saving time with more efficient access to documents!
- “Yes, I have identified overlooked opportunities”: lines which were initially identified as trade or unknown were confirmed to be proprietary data in which the company holds an interest.
- “Yes, I have found missing data”: adding 3D’s and 2D lines that were missing from the database completely.
- “Yes, I have resolved all questions on outstanding acquisitions”: Data from earlier acquisitions are no longer under dispute. You were able to confirm ownership, enabling your company to receive all data it was entitled to.
Lastly: “Yes this was a valuable investment of our time.”