Company Updates

Shearwater GeoServices awarded 3D contract by ONGC

22/12/2020 Posted by Dale

Shearwater GeoServices has announced the award of a 3D broadband marine seismic acquisition contract by ONGC in the Western Offshore India area. The project is scheduled to commence in Q1 2021.

The four-month campaign covers two areas totalling 2,800 sq. km in the Arabian Sea off the west coast of India. Shearwater plans to use the SW Duchess and SW Vespucci for the surveys.

“Shearwater has a strong, long-standing relationship with ONGC and adding this award to our 2021 backlog demonstrates our market leading position in Indian offshore geophysics, enabling us to maintain high activity in the region throughout 2020 and into 2021”, said Irene Waage Basili, the CEO of Shearwater GeoServices.

Sercel wins second Saudi Mega-Crew Equipment Contract

15/12/2020 Posted by Dale

Sercel has won a second major contract to supply land seismic equipment to a leading seismic acquisition contractor for a 3D mega-crew survey in Saudi Arabia.

It has also won a smaller contract to equip a 2D survey to be conducted by the same contractor. These two new contracts closely follow the recently announced award to Sercel of a similar large-scale contract to equip a separate Saudi 3D mega-crew survey.

The new 3D contract includes a Sercel 508XT seismic acquisition system of over 60,000 channels equipped with strings of SG-10 geophones, and a fleet of over 30 Nomad 65 Neo all-terrain vibrator trucks with a full VE464 advanced vibrator electronics package.

Blue skies brighten after Queensland North Bowen Basin gas-supply agreement

06/12/2020 Posted by Dale

Blue Energy shares surged over 57% after announcing a 10-year Queensland gas supply deal with Energy Australia.

The agreement is for annual deliveries of 10PJ and on the ASX BLU stock climbed to 8.8 cents on news of the deal, before settling at 8.2 cents at close on Friday.

Blue’s Managing Director, John Phillips, said: “This is the first such agreement that will allow North Bowen Basin gas to be delivered into the main East Coast domestic market to the south from Moranbah”

“It is a foundation volume that will contribute to the underpinning of the proposed...

Katalyst Data Management releases Subsurface Data Search Engine for Oil and Gas Industry

06/12/2020 Posted by Dale

Katalyst Data Management has launched a new subsurface data search engine, powered by Elasticsearch, in the latest release of their iGlass data management solution.

The new release, named iGlass Portal ES, gives oil and gas companies the ability to use freestyle text searches on their seismic and well data volumes. This release marks the first time that Elasticsearch technology has been applied to an E&P subsurface data management solution.

Similar to search technology used for online shopping and searching, iGlass Portal ES harnesses the power of Elasticsearch, allowing users to search the entirety of their subsurface catalogue with a simple textual search.

CGG wins three-year contract extension for Dedicated Processing Centre in Oman

01/12/2020 Posted by Dale

CGG has been awarded a three-year contract extension by Petroleum Development Oman to continue providing advanced land seismic imaging services at its dedicated processing centre in Muscat. The new contract will run from 1 January 2022 until 31 December 2024.

PDO operates a concession in Oman that covers almost one third of the country’s land surface area. This makes the DPC a critical proving ground for deploying new technology and workflows that can meet the highly variable imaging requirements of PDO’s exploration and production activities.

With this contract extension, CGG said its specialists would continue to implement their latest proprietary algorithms to bring step-changes in the imaging of the ever-growing volumes of land data, characterized by complex near-surface conditions and strong multiples.

PGS launches ‘Scheme of Arrangement’ to implement financing transaction

01/12/2020 Posted by Dale

PGS has launched a scheme of arrangement in England via the issuance of a practice statement letter to the lenders under its ~$350 million revolving credit facility and ~$522 million term loan B facility.

PGS said it was proposing the scheme in order to implement the financing transaction announced on October 21, 2020 as contemplated in the Lock-Up Agreement dated October 21, 2020.

“As of the date of this announcement, lenders representing 95.4% by value of debt and 99.5% by number of the RCF/TLB Facility have entered into the Lock-up Agreement and thereby agreed to support the Transaction,” PGS said.

Shearwater wins Petrobras OBN 4D baseline survey

01/12/2020 Posted by Dale

Shearwater GeoServices has been awarded a large Ocean Bottom Node 4D Baseline survey over the Jubarte Field in the Campos Basin offshore Brazil.

Shearwater said it had positioned itself as a leading player in the deepwater OBN market, building on its established leading positions in the hybrid and shallow water ocean bottom seismic markets.

Shearwater CEO Irene Waage Basili said: “We welcome this contract awarded by Petrobras and look forward to supporting their continued ambitions in the Jubarte Field.

“This deepwater OBN award reflects our experience in operating offshore Brazil, our position in the deep water OBN...

CGG awarded large offshore Malaysia seismic processing contract

24/11/2020 Posted by Dale

Subsurface Imaging, part of CGG’s Geoscience division, has been awarded two large-scale complex seismic reprocessing contracts by PTTEP.

CGG said that PTTEP was investing in the rejuvenation of pre-existing data sets from two regions offshore Malaysia by leveraging CGG’s recognized high-end imaging technology and long-standing processing experience in SE Asia.

Over the course of the next year, CGG, through its offices in Kuala Lumpur, will conduct merged reprocessing of surveys from many vintages, including towed-streamer and OBC seismic data from offshore Sabah and Sarawak.

Elixir Energy intersects gas saturated coals in new sub-basin

24/11/2020 Posted by Dale

ASX-listed Elixir Energy has intersected 27 metres of coal in the Yangar 1S strat-hole well during continuing exploration of its Mongolian acreage.

The Yangar 1S strat-hole well is currently being drilled in a new sub-basin located some 24 kilometres to the West North West of Nomgon-1. To date 27 metres of coal have been intersected. As of Saturday morning, the well was at 347 metres.

The company’s well site geologist has observed very active gas bubbling from coals recovered to surface and in the mud-pit.

Shearwater awarded Senegal 3D acquisition and processing contract by Total

17/11/2020 Posted by Dale

Shearwater GeoServices has announced the award for a large towed streamer 3D acquisition and Fast Track processing project by Total E&P Senegal (“Total”).

The exploration survey covers 5,000km² in the UDO Block Exploration area, offshore Senegal. The data acquisition will be carried out by the SW Empress using an ultra-wide tow Flexisource configuration together with Fast Track processing enabled by Shearwater’s proprietary Reveal software.

“We are pleased to be awarded this contract by Total in North West Africa, providing us with back-to-back work for one of our vessels,” said Irene Waage Basili.

“Leveraging our strong geographically dispersed...