Company Updates

Melbana sells Beehive to US heavyweight EOG Resources

28/04/2021 Posted by Dale

Melbana Energy has concluded a sale and purchase agreement (SPA) with Houston-based Fortune 500 company EOG Resources to sell its WA-488-P permit which comprises the Beehive prospect.

The deals marks EOG Resources first venture in Australia after a sale that was conducted by Melbana subsidiary Finniss Offshore Exploration and EOG’s Australian arm.

Beehive, located in around 40 metres of depth, is one of the largest undrilled hydrocarbon prospects in Australia with prospective resources ranging from 416MMboe to 1.4 billion boe.

Senex boosts production, announces first-ever dividend

27/04/2021 Posted by Dale

Senex Energy has announced that third-quarter natural gas production increased by 8% in the third quarter of 2020.

The Brisbane-based gas producer said that its total production was up to 4.6 PJ during this period and peak production reached nameplate capacity in the Surat Basin of 52 TJ/day (~19 PJ/year).

This put Senex in a buoyant net cash position of $36 million at the end of the quarter and in a position to announce inaugural dividends.

Managing Director Ian Davies commented: “Senex continued its quality operational and financial performance from our high-growth, low-risk natural gas assets, growing production and declaring a dividend for the first time.

CGG and dCarbonX Sign Strategic Agreement for Decarbonisation Exploration

27/04/2021 Posted by Dale

CGG has signed a strategic agreement to support dCarbonX in the subsurface assessment of its operated clean energy projects offshore Ireland and the UK (which include geothermal energy and storage sites for CO2, hydrogen and ammonia). Such projects are critical in the ongoing energy transition from fossil fuels to renewable energy systems.

CGG brings its integrated geoscience solutions to help identify and de-risk subsurface storage, sequestration and geothermal energy sites utilizing its proprietary expertise in geological, geophysical, engineering, modelling and monitoring technologies, including instrumentation from Sercel, its equipment division.

dCarbonX is pioneering offshore decarbonisation exploration as a new, innovative, and sustainable enabler of the energy transition.

Halliburton signs eight-year contract with Norwegian Petroleum Directorate

20/04/2021 Posted by Dale

Halliburton has signed an eight-year contract with the Norwegian Petroleum Directorate (NPD) to deploy and operate Diskos, the Norwegian national repository of seismic, well, and production data for the oil and gas industry.

Halliburton Landmark said it would deliver Diskos 2.0 using DecisionSpace® 365 cloud services in iEnergy® – the industry’s first E&P hybrid cloud.

“The cloud native services are Open Subsurface Data Universe™ compliant and provide high quality data, security and governance so users can easily access, visualize, and interpret data from the Norwegian Continental Shelf,” the Houston headquartered company said.

The open architecture and scalability of the service enables workflows across the repository and operator systems on premise, or in the cloud, to support efficient, effective and agile operations.

Elixir exploration program steams ahead in Mongolia

20/04/2021 Posted by Dale

With shares trading at an eight-year peak and aiming higher, Elixir Energy has provided an update on its largest exploration program to date in Mongolia.

The Adelaide-headquartered explorer launched the exploration and appraisal program across its 100%-owned Nomgon IX CBM PSC, where the spudding of two exploration wells is imminent.

The first well in the 2021 drilling program, Yangir-2, has just been finished and the Yangir depocenter has proven to be highly fractured and hosting of gaseous rocks, which is encouraging for permeability and gas content respectively, but has made for more complex drilling operations.

The desorbed gas was chromatographically analysed and contained 99% natural gas (i.e.

CGG Leads European Space Agency Plastic Pollution Innovation Study

14/04/2021 Posted by Dale

A consortium led by CGG has been selected by the European Space Agency’s Space Solutions initiative to undertake a study aimed at developing new environmental monitoring technology and services to help combat the global marine litter crisis.

CGG will collaborate with Mott MacDonald, a global engineering, management and development consultancy, and Brunel University London to develop innovative new environmental monitoring solutions based on CGG’s analysis and processing of Earth observation data and leveraging its artificial intelligence models.

CGG said that with their combined expertise spanning satellite remote sensing, environmental science, plastic pollution, drift modelling, mitigation measures and policy development, the consortium is strongly positioned to deliver on the study objectives.

Shearwater GeoServices wins 3D Survey in Vietnam

13/04/2021 Posted by Dale

Shearwater has been awarded a 3D seismic survey by a major operator in Vietnam. The two-and-a-half-month project will commence in April 2021 and will be conducted by the SW Vespucci.

“This award contributes to an already strong portfolio of projects in the Asia Pacific region announced in recent weeks as market conditions improve”, said Irene Waage Basili, CEO of Shearwater GeoServices.

The marine geophysical services company has established experience in Vietnam and has worked for the same operator multiple times in recent years.

The SW Vespucci is one of the seismic industry’s most flexible vessels, operating both in the towed streamer and ocean bottom markets, equipped with Qmarine technology and capable of performing 2D, 3D, and 4D surveys.

PGS awarded extended Long Offset Contract

06/04/2021 Posted by Dale

PGS has been awarded a high-fidelity 3D exploration program by a supermajor offshore Egypt.

The survey will be acquired using an Extended Long Offset (ELO) configuration with Ramform Tethys towing a wide multi-sensor GeoStreamer spread with an additional source vessel located several kilometers ahead.

CGG said that this would enable efficient recording of offsets up to 16km, which is critical for imaging deeper complex exploration targets. The source vessel will be towing a specially designed low frequency source.

CGG said “the innovative ELO survey design combines optimal spatial sampling for better subsurface imaging together with long offset acquisition for accurate velocity model building.

CGG awarded three Imaging Projects by BP

06/04/2021 Posted by Dale

CGG has been awarded three major seismic imaging projects by BP, two in the deepwater Gulf of Mexico and one offshore Trinidad & Tobago.

These projects will start in Q1/Q2 this year and complete with cloud delivery of the data no later than Q4 of 2021.

CGG said that, “utilizing CGG Cloud supercomputing, imaging specialists at CGG’s Houston subsurface imaging center will employ compute-intensive data-driven proprietary algorithms, such as time-lag full-waveform inversion and least-squares migration, to ensure timely delivery of the highest-quality images to better support renewal and development decisions.”

Colin Murdoch, EVP, Geoscience, CGG, added: “This high-profile set of awards demonstrates client demand for our best-in-class technology and service.

Lukoil says “nyet” to FAR takeover

06/04/2021 Posted by Dale

Lukoil has abandoned takeover plans for Australia’s FAR Limited and thus exited its ambitions to participate in the Woodside-operated Sangomar project offshore Senegal.

The Russian company had offered FAR 2.2c per share in February after it had failed to become a participant in the RSSD project via the acquisition of Cairn Energy’s stake in the discovery -- which was scuppered by Woodside’s entry into the development.

FAR had sounded a note of caution over Lukoil’s proposal, which was not a legally binding offer and still subject to targeted and timely corporate due diligence by the Melbourne-based company.

The offer was also contingent on final Lukoil board approval, with no guaranteed that the proposal would have played out.