Seismic & Surveying

Actor Type: Service Provider Breaks When: Exploration Pullbacks Capital Intensity: Medium Cash Flow Stability: Cyclical Economic Nature: Services Margin Driver: Information Advantage Notes / Insights: Information edge without price exposure Performs Best When: Exploration Booms Pricing Power: Moderate Primary Function: Map subsurface geology Primary Risk Transfer Mechanism: Contracts Public / Private Mix: Mostly Public Representative Firms: CGG, TGS Residual Risk After Transfer: Low Revenue Model: Project Fees Typical Margin Profile: Medium Value Chain Segment: Upstream Who Ultimately Bears the Risk?: Shareholders