Company Updates

PGS and ION Announce Global 2D Exploration Collaboration

30/06/2020 Posted by Dale

PGS and ION Geophysical Corporation have announced an agreement to collaborate globally on 2D exploration data.

Both companies have modern, high-quality MultiClient data libraries that together cover all the significant hydrocarbon provinces around the world. The new joint data library will comprise nearly one million line kilometres of uniquely complementary data, including many areas of genuine broadband seismic that have substantial opportunity for integration and reimaging.

Drawing on PGS broadband 2D GeoStreamer® offering and ION’s latest imaging technology, the companies will produce enhanced deliverables with higher resolution and greater spatial coverage, offering deeper insights and more reliable pre-stack attributes for exploration screening on a global basis.

Geoprocesados sambas with DUG McCloud as Brazilian P&I centre is opened

22/06/2020 Posted by Dale

Geoprocesados and DownUnder GeoSolutions have announced the opening of a new DUG McCloud-based seismic processing and imaging centre in Rio de Janeiro, Brazil.

Operating as Geoprocesados Serviços Sismicos, this new centre will offer clients a full suite of P&I services, for both onshore and offshore projects, including advanced least-squares imaging tools such as reverse time migration and high-frequency full-waveform inversion, DUG said in a media release.

Geoprocesados General Manager Javier Rubio said: “Geoprocesados has been operating successfully in Mexico, Argentina and Colombia for more than 20 years, providing advanced seismic P&I services.

“Brazil has become the largest oil-producing country in Latin America and we see a great opportunity to expand our operations into this very active market.

Sole delivers on gas promise as Orbost inches towards terajoule target

22/06/2020 Posted by Dale

Cooper Energy says 1.8 petajoules of gas from the Sole gas field has been processed and supplied into the Eastern Gas Pipeline from the APA-owned and operated Orbost Gas Processing Facility.

In a market update Cooper Energy, who are contracted to supply the gas to APA Group for customers in south-east Australia, said progress on commissioning activities since March 10 had demonstrated Orbost Gas Plant’s capability to produce sales specification gas from the Sole raw gas stream.

“A total of 1.

3D Oil gets green light from NOPSEMA for ConocoPhillips deal

22/06/2020 Posted by Dale

NOPSEMA has approved a farm-out agreement which will enable ConocoPhillips to earn up to 80% of 3D Oil’s T/49P exploration permit on the proviso that the latter spends the first $43.44 million in exploration funds on the project.

The deal makes provision for ConocoPhillips to front a $5million cash payment and complete a 1580km 3D seismic survey, in return for transfer of the title of the T49P exploration licence.

Following initial drilling, 3D Oil will retain a 20% stake in the permit and will then be liable for its share of payments for further drilling.

The permit is located in the eastern offshore Otway Basin, west of King Island, and covers an area of 4,960m² in water depths of 100m.

3D Oil gets green light from NOPSEMA for ConocoPhillips deal

16/06/2020 Posted by Dale

The deal makes provision for ConocoPhillips to front a $5million cash payment and complete a 1580km 3D seismic survey, in return for transfer of the title of the T49P exploration licence.

Following initial drilling, 3D Oil will retain a 20% stake in the permit and will be liable for its share of payments for further drilling.

The permit is located in the eastern offshore Otway Basin, west of King Island, and covers an area of 4,960m2 in water depths of 100m.

Senex completes $400 million Surat Basin gas development project

15/06/2020 Posted by Dale

Senex Energy has completed its 100% owned Surat Basin natural gas development project, establishing the Brisbane-based independent exploration and production company as an important supplier of gas to the domestic market.

Senex also revealed in a market update that it has completed its 80 well Surat Basin drilling campaign, down from approximately 110 wells originally planned due to continued production outperformance.

In conjunction with infrastructure partner Jemena, Senex has also successfully built and commissioned natural gas facilities at Roma North and Atlas, which is set to deliver greenfield gas processing infrastructure capacity of more than 20 petajoules (PJ) a year.

PGS tightens the reins to ride out COVID-19 storm

09/06/2020 Posted by Dale

PGS says it will implement further cost reductions to bring annual gross cash cost run-rate to approximately $400 million through staff reductions, re-organization, consolidation of offices, re-negotiation of service agreements and other cost measures.

The Norway-based marine geophysics company said the Covid-19 pandemic and related disruption in the oil market had caused unprecedented challenges for the seismic industry and would temporarily cause a significant reduction of activity levels. PGS is responding to this challenge by further adjusting its cost base to the lower activity level while retaining its core global capabilities and ability to scale up when demand resumes.

Earlier PGS had announced the stacking of three out of the eight 3D vessels operated at the start of the year, and several other cost measures.

Senex and GLNG to supply Roma North natural gas to the domestic market

02/06/2020 Posted by Dale

Senex and GLNG have agreed a short-term re-direction of around 1 PJ of natural gas from Roma North to the domestic market.

This follows GLNG’s currently lower LNG offtake requirements and material production outperformance at Roma North, Senex said in a market update.

The company said Surat Basin production continues to perform strongly, currently above 34 TJ/day, and upgraded its FY20 guidance from 1.8 – 2.0mmboe to 2.0 – 2.1 mmboe with EBITDA increasing to $45 – 55 million (previously $40 – 50 million).

Part of Roma North gas production will be re-directed to the domestic market and Senex will reduce natural gas supply to GLNG by around 1 PJ over the period June to August 2020 at GLNG’s request, following currently lower LNG offtake requirements at GLNG.

Searcher receives ISO certification

25/05/2020 Posted by Dale

Searcher has announced that it achieved ISO 9001:2015 certification for its quality management system.

The certification covers the provision of geological, geophysical, geotechnical and GIS data acquisition, collection, processing and interpretation to the exploration and resources sectors. Following an extensive audit process, the certification was issued to Searcher by SAI Global in April 2020, the company said.

Alan Hopping, Executive Vice President of Operations for Searcher, said: “Achieving the ISO 9001 accreditation is confirmation of Searcher’s demonstrated and ongoing commitment to consistently delivering the highest quality products and services to our clients.

“The team was faced with...

Neptune completes survey in Bonaparte Basin

25/05/2020 Posted by Dale

Neptune Energy announced the successful acquisition of the 3D broadband seismic survey of the extensive Petrel field located in the Bonaparte basin of Australia.

The 2,900 km2 survey significantly expanded the area of seismic data Neptune holds and increased the quality and breadth of data.

Initial findings from the survey have been received with the remaining processed data due to be delivered later this year.

Internal analysis and interpretation of the acquired data will allow Neptune and its partners to plan for the future.

Neptune Energy Australia Managing Director, Janet Hann said: “The safe and successful completion of the survey is testament to the excellent teamwork of Neptune and its partners.