Rising prices and depleted supplies have driven the oil industry to search for new sources of oil. This is good news for the companies that provide seismic surveys and seismic equipment to oil companies. It also provides some options for investors. The market for seismic services and equipment has risen to $10 billion in 2006, just about doubling in the last 6 years. And while weather can be a disruption to seismic readings, as long as the gas prices don't drop, the industry will continue to grow.
Three companies to look out for, according to SmartMoney, are Geokinetics (GOK), Input/Output (IO), and TGC Industries (TGE). Geokinetics has thrived by a series of acquisitions and has approximately $320 million in back orders. TGC Industries has seen its revenue jump 120% and has a backlog of $50 million in orders. Input/Output, a manufacturer of seismic equipment is expected to have an annual revenue growth of 20% with an earnings growth of 30% through 2010.