Pulse Seismic Inc. is a market leader in the acquisition and licensing of seismic data for the energy sector in Western Canada. We own and manage Canada’s second-largest licensable seismic data library, consisting of approximately 28,956 net square kilometers of 3D seismic and 450,000 linear kilometers of 2D seismic. The seismic data library covers the Western Canada Sedimentary Basin (WCSB) in Alberta, northeast British Columbia, Saskatchewan, Manitoba, Montana and parts of the Northwest Territories.
The seismic data library includes some of Western Canada’s most active unconventional crude oil and liquids-rich natural gas plays.
Our business occupies a unique part of the oil and natural gas exploration and development cycle. We provide a key tool in the finding and development of new oil and natural gas reserves, but have a different risk profile and business dynamic than producers.
Pulse’s proven business model is based on the enduring value of seismic data, which can be repeatedly re-licensed to oil and natural gas companies. By continuously expanding the library, Pulse generates increased revenues and improves operating efficiencies, supporting high cash operating margins and driving growth in shareholder free cash flow, our key performance indicator.
We continually evaluate opportunities to expand the data library by acquiring complementary high-quality 2D and 3D seismic data sets through data purchases and participation surveys. Growth in the data library leads to increased revenue-generating capacity.
Pulse has historically, and will continue to grow, the seismic library through the purchase of seismic data sets from competitors and/or oil and gas companies that look to monetize their proprietary seismic data. Data sets which are attractive to Pulse are preferably large, have multi-zone potential and meet the economic criteria required to confirm an acceptable valuation.
Pulse partners with customers on 3D participation surveys from which field data is shot, processed and added into the library. Our operations team manages each stage of the survey from start to finish, while field operations and equipment are outsourced to qualified third-party subcontractors. Pulse retains 100 percent ownership of the seismic data, while participating customers are provided with a non-transferable licensed copy.