Company Updates

Tillerson sometimes longs for oilman life

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US Secretary of State Rex Tillerson picked up an industry award at the World Petroleum Congress in Istanbul, where he told delegates that he often missed his former life as an oilman. The Former ExxonMobil boss received the Dewhurst Award for his contribution to the oil and gas industry and told the conference that his expected retirement to spend fishing in the mountains had taken a dramatic turn since he was appointed the United States’ top diplomat. "It did not quite work out that...

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Timor-Leste champions ‘world-class’ resources

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Timor-Leste’s national oil company, Timor Gap, has claimed that the country’s offshore areas could hold “world-class” oil and gas resources.   This follows stimulating interpretation of the 2016 Crocodile seismic survey carried out by BGP Prospector, a 12 streamer seismic vessel over the PSC TL-SO-15-01 block.   The PSC block is located approximately 50km southeast of Timor’s island eastern tip, within exclusive Timor-Leste maritime borders, midway between Timor and the...

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BassGas MLE arrives early and under budget

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Origin Energy announced that the final phase of the mid-life enhancement (MLE) project at BassGas offshore Tasmania – entailing installation and successful commissioning of compressor and condensate pumping unit at the Yolla-A platform - has been completed ahead of schedule and under budget. This follows the drilling and completion of, and gas sales from the final two development wells, Yolla-5 and Yolla-6, in 2015. Gas, condensate and LPG from the Yolla fields is transported by...

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APPEA wants GST gas incentives

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The Australian Petroleum Production & Exploration Association (APPEA) is urging that the way GST revenues are shared is changed in order to incentivise states and territories to develop their own natural gas. The Productivity Commission is currently investigating the principle of horizontal fiscal equalisation, which underpins the distribution of GST revenue to state and territory governments. APPEA Director Matthew Doman said the current system disadvantaged jurisdictions that...

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Katalyst announces well data coup

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Katalyst Data Management in the United States has announced today that it signed its first major well data project.  The well data project is essentially a “paper to digits” project involving the scanning and classification of physical well files associated with over 20,000 wells in the US Lower 48. This marks the first major well data project for Katalyst, who began providing geological data management solutions in 2016 after nearly 30 years focusing primarily on seismic data...

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Schlumberger urges stockholders to reject TRC Capital overtures

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Schlumberger Limited (NYSE: SLB) has been notified of an unsolicited “mini-tender” offer by TRC Capital Corporation to purchase up to 2 million shares of Schlumberger common stock, representing approximately 0.14 percent of Schlumberger’s shares of common stock outstanding. Schlumberger said in a media release that TRC Capital’s offer price of $65.63 per share is approximately 4.3 percent below the closing price per share of Schlumberger’s common stock on June 16, 2017, the last...

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CGG donates Software Suites to China University

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CGG GeoSoftware has donated its Jason®, PowerLog® and InsightEarth® software suites, encompassing all aspects of seismic reservoir characterization, to the Geoscience and Technology Institute of China University of Petroleum (East China). CGG said in a media release that ‘the donation will enhance scientific research and expand students’ theoretical and practical knowledge of quantitative reservoir characterization and inversion techniques.’ Dr. Xinwei He, China Operations...

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DUG builds one of the world’s largest supercomputers

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To be at the top of your game in any sport, you need plenty of skill and lots of muscle,” DownUnder GeoSolutions proudly proclaimed as it announced it was building one of the world’s largest supercomputers. DUG is rolling out a series of muscle-building upgrades to its global seismic processing centres, including Perth, Kuala Lumpur, London and Houston; an expansion that the company says will see its Intel-supported processing capability grow and likely exceed its competitors, based...

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McMahon opens new chapter with DataReSource

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DataReSource has expanded its exploration and geophysical research capacity by appointing senior geophysicist Andrew McMahon to the team. Andrew joins DataReSource after stints at the Queensland Department of Natural Resources and Mines, Geoscience Australia, Paradigm and Schlumberger. DataResource said the extensive skills Andrew has acquired and developed, most notably through his work with Geoscience Australia, would enable him to have an “insightful, well-developed and refined...

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Sercel launches new WTU-508 Node

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CGG announced that Sercel has launched the WTU-508 high-performance X-Tech® node as an extension of its 508XT land seismic acquisition product range. CGG said the new node offers even greater flexibility for all types of survey operations, such as complex small-scale urban surveys or high-productivity mega-crews. Fully integrated into the existing 508XT platform, it reinforces the new paradigm created by the 508XT in land seismic acquisition. 'The WTU-508 is an easy-to-use smart...

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