High-quality specification seismic data is a driver for independent companies, Devon Energy Corp. Vice President and General Manager, Gulf Division Bill Van Wie said during a press conference at the Offshore Technology Conference in Houston. Once Devon acquires the data from a seismic vendor, the company alters it in-house for a clearer perspective, which lowers risks, saves money, and helps find hydrocarbons. Statistics show independents use 3D seismic data more often than any other, although 4C seismic is the latest technology. During the conference, independents from Noble Energy, Mariner Energy Inc., and the Independent Petroleum Association of America (IPAA) informed industry about issues based on an independent's point of view. Subjects such as legislation and rig utilization were discussed. It was also learned that 80% of leases held in the GoM shallow water are held by independents. Since the last royalty relief sale, independents hold 50% of deepwater leases (<1,500 ft).
