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Modern seismic data acquisition with high-channel count or point-source and point-receiver recording systems can produce massive volumes of data, often exceeding hundreds of terabytes for a single survey. Processing such vast volumes of data becomes challenging due to the limited I/O bandwidth and storage capacity. The use of seismic data compression can help to address these challenges and facilitate more efficient data management. In this paper, we evaluate several cutting-edge lossy compressors, including SZ3, ZFP, and Bitcomp, for compressing seismic data. We compare compression ratios achieved by all compressors using different user-defined error bounds, and explore how compression errors can affect the accuracy of the reconstructed pre-stack gathers and final stacked image. We also examine the difference in compression efficiency between 1D and 2D techniques.