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 management. The well data volumes will be digitally stored and managed via Katalyst’s web-based subsurface data management solution iGlass. The hosted PPDM 3.
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Schlumberger urges stockholders to reject TRC Capital overtures
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 trading day before the commencement of TRC Capital’s offer.
CGG donates Software Suites to China University
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 Manager, CGG GeoSoftware, said: “This significant new donation strengthens our ties with China University of Petroleum (East China) which is recognized as an important training base for high-level petroleum and petrochemical professionals in China.
DUG builds one of the world’s largest supercomputers
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 on petaflops (PF) per geo. Details of its global expansion, and its progress, will be released as it becomes available during 2017.
McMahon opens new chapter with DataReSource
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 perspective in locating difficult to find or lost datasets. His unique and vast contact network in the oil sector also makes him a valuable addition to the DataReSource team.
Sercel launches new WTU-508 Node
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 autonomous land node. Users need only to connect the geophone for the WTU-508 to record its position and start collecting seismic data.
High gas prices hitting east coast demand
A new report just released shows total east coast domestic gas demand fell by a modest 2.5% in the March quarter compared with the same period in 2016. However, underlying gas demand is falling much faster in the face of high prices. Excluding gas-use for power generation, gas use fell by 8% and excluding gas used to fuel Queensland LNG plants as well, the fall in gas-use was a staggering 16%. These estimates are contained in the June quarterly review by respected independent energy consultancy, EnergyQuest. EnergyQuest CEO, Dr Graeme Bethune, said that short-term east coast gas prices averaged $9.
Sercel celebrates “success” of Sentinel
Sercel announced that its multi-sensor solid streamer, the Sentinel® MS, has been commercially deployed for the first time and is being successfully operated on a large 3D CGG multi-client survey being conducted by the CGG Geo Coral in the Southern Porcupine Basin in Ireland. Sercel said the Sentinel MS was specifically designed to deliver multi-sensor data sets of exceptional quality to help the industry achieve the best broadband imaging and generate more detailed and accurate images of the subsurface.
APPEA embraces carbon capture Federal funding
The Australian Petroleum Production & Exploration Association has welcomed the Federal Government’s move to allow carbon capture and storage (CCS) projects access to Clean Energy Finance Corporation (CEFC) financing. APPEA Chief Executive Dr Malcolm Roberts said access to CEFC financing could help overcome some of the capital and financing obstacles facing some CCS projects. “CCS is seen as one of the pathways to the continued use of fossil fuels in a low-carbon economy,” Dr Roberts said. “Accelerating the roll-out of CCS projects could assist in reducing emissions from the generation sector.
Woodside reveals thinking for Browse Project
Woodside has flagged potential first Browse basin gas from the mid-2020s. However, it remains unlikely that the Perth-headquartered oil and gas producer intends to deploy floating LNG or construct a new onshore plant, as was the initial plan near Broome, if and once the suspended project does receive FID. At Woodside’s annual general meeting on Friday, CEO Peter Coleman gave a hint of where Woodside was heading with Browse, saying: “As you know, we have worked for some years to find the right development concept for the world class Browse resources. I’m very excited about where we are headed.