Stryde says it has broken records for the number of nodes used in one survey and for land seismic trace density while the company has increased its revenue by more than 1000% in 2021.
Stryde says it has broken records for the number of nodes used in one survey and for land seismic trace density while the company has increased its revenue by more than 1000% in 2021.
The company deployed 166,000 nodes on a single project in Oman by Africa Geophysical Services and has reported density of 256 million traces per km2, with Explor and Carbon Management Canada.
Overall, more than 365,000 Stryde nodes have been sold or leased in 2021 and in the past 15 months Stryde’s technology has been used on 58 projects in 25 countries.
Mike Popham, CEO, Stryde, said: ‘We have been able to produce nodes at scale, faster than ever before, with the 500,000th Stryde node coming off our production lines in November 2021, just 15 months after production commenced. Amazingly, given that we are only beginning to emerge from a relative ‘down market’ for land seismic, the challenge has been for production to keep up with client demand for our systems.’
He added that there was increased demand for applications in geothermal, mining and carbon capture, utilisation and storage (CCUS), where previously seismic wasn’t cost effective.
Popham added: ‘Seismic acquisition sits at the intersection of the energy transition and has a vital role to play in its success. High density, high definition seismic is critical to oil and gas, as operators seek to maximise returns from their existing reservoirs in the short term and seek to find new discoveries in parts of the world that remain in energy poverty. Equally, more affordable seismic has presented an opening for surveys to be undertaken that unlock new mining, geothermal and CCUS opportunities. Demand from these industries is increasing significantly – and faster than expected, with Stryde seeing over half of their projects to date coming from outside the oil and gas sector.’
