3-D seismic has become the hot topic of conversation in exploration and exploitation circles. This tool is proving to be beneficial in both finding and developing hydrocarbon reserves. How is this new tool changing the industry's perception of play economics and risk assessment, and how can we, as explorationists, create value within our own companies so that we can justify the use of 3-D on our projects? By focusing on aspects that we can control-cost, implementation decisions, and how the final product can be used most effectively-the explorationist can begin to assume control of both his and his company's destinies.

Three-dimensional seismic data has significantly impacted exploration and exploitation efforts. With this evolution of success comes a change in the nature of deals being made, and it is important for explorationists and managers alike to understand current deal-making dynamics. Understanding these dynamics, and using creative and sometimes radical thought processes, are leading to unconventional partnering relationships for our industry. Also, the industry trend seems to have shifted from one of generalization to specialization-be it in services or exploration areas. Partnering can allow a company to draw on specialized expertise not available internally and apply it to projects where the risk is shared with outside parties. But for a partnering relationship to function properly, reliance on the other partner's abilities is key. The oil industry has never been a business where such trust is freely given, and, to the contrary, has often been taken advantage of. For such a relationship to work, each party must create value through the services they provide, and unfailingly fulfill its obligations.

Seitel has chosen such a course, forming DDD Energy (March 1993) to participate in the exploration for, and exploitation of, oil and gas reserves through partnering relationships. By applying the expertise and resources developed by Seitel since 1982, DDD Energy is a partner that can fill a much-needed niche in the ever-evolving 3-D world. Innovative approaches to traditional exploration situations have allowed DDD to team up with 50 or more industry partners on more than 25 3-D projects in the onshore Gulf Coast and have significant exposure to reserves by taking a working interest position in each project.

End_of_Record - Last_Page 10---------------