Weak oil prices weighed heavily on the folks attending last month’s annual meeting of the Society of Exploration Geophysicists. Time and again, the people we talked to at 2015 SEG New Orleans were on the prowl for cooperative cost-saving opportunities.
With crude oil prices down more 50 percent from their June 2014 peak, everyone is laser-focused on limiting expenses. Sending fewer people to trade shows must be one way they’re cutting back, because the show had noticeably low attendance.
Those who did get to attend (or who went to the prior Madrid EAGE show) got a look at how PMI is helping offshore industry clients hold the line on costs. Those who missed the show also missed a chance for a hands-on look at our new Hydro-Dynamic DYNA II Sheave Mount and its drag-reducing design.
Our meetings with key seismic exploration customers confirmed how new PMI technology is helping slice operating costs. Today’s 3D seismic operators tow 16-plus streamers along with attached cable management hardware behind oceangoing seismic survey ships. That adds up to a lot of drag, requiring lots of engine power (and fuel for those engines).
At PMI, we’ve learned from working alongside our clients that making our hardware hydrodynamically efficient can significantly reduce the power required to tow streamer & hardware systems — cutting hardware component drag by up to 40 percent. Just multiply the power and fuel savings by 8, 16 or possibly 32 components towed behind a ship and you can see the potential for a significant reduction in costs.
Making small changes like these to our cable hardware gives our clients substantial savings.
If you could not attend either show, download our Free Hydrodynamic Efficiency Report and start thinking about the benefits of our new technology.