Operations | Seismic Technology
We have access to an extensive library of geologic information that includes approximately 33,000 square miles of 3-D seismic data in the Gulf of Mexico and onshore in south Louisiana. We believe that the size and depth of our seismic data and the capabilities of our technical staff differentiate us as a company. We enhance these seismic data sets by employing state-of-the-art reprocessing techniques that have not previously been applied to our current acreage position.
By continually using the latest techniques on a regional scale, we are able to optimize drilling opportunities by reducing exploration and operating risks. This differentiated technical capability allows us to revitalize older, neglected Gulf of Mexico assets, lower finding and development costs and facilitate further focus on optimal drilling opportunities. This competitive advantage is particularly effective with respect to shelf and deepwater assets with a prior exploration history, including those in our portfolio, where larger competitors focus on legacy large-scale reservoir discoveries, multiple identified producing zones and unexplored deeper horizons all translate to significant untapped potential for us upon the application of this approach.
Our regional seismic approach makes us more competitive acquirers, allows us to arrange drilling joint ventures with other operators and to actively participate in lease sales, all of which aid in building our drilling inventory.
Our strategic position in the Gulf of Mexico represents a significant opportunity to apply our seismic expertise. The technological reprocessing we have applied to current seismic data has provided us with superior images of prospective horizons. We intend to use this data to continue to focus on finding optimal drilling locations within our existing portfolio and to opportunistically acquire assets where our analytic techniques may enhance future value. Our technical reputation for drilling both development wells and exploration wells coupled with our regional seismic database also allows us to strategically pursue drilling projects with other operators that have a similar asset profile but lack the technology, expertise or financial wherewithal to optimally develop and exploit their asset bases.