Prospex Oil & Gas: Reveals “encouraging” Italian well results

 

 

 

Prospex Oil & Gas: Reveals “encouraging” Italian well results

“The log results for the Podere Maiar are highly encouraging,” said Bill Smith, Prospex chairman.

Prospex Oil and Gas Plc (LON:PXOG)  shares were on the back foot, down 4%, despite the company revealing what it described as “encouraging” initial results from the Podere Maiar-1d well in Italy’s Po Valley region.

Downhole log readings provided by Schlumbergerhas confirmed some 53 metres of gross gas pay, with the top of the reservoir seen above prior production wells in the field. Analysis of the data indicates the presence of gas in the two main sand intervals.

Production equipment is due to be installed, with well completion expected by mid-December with flow testing anticipated by early January.

“The log results for the Podere Maiar are highly encouraging,” said Bill Smith, Prospex chairman.

“With completion of the Well and the commencement of flow testing operations due to take place shortly, I look forward to providing further updates from the Podere Gallina Exploration Permit in the next few weeks, as we look to build on our recent drilling success at the Bainet-1 gas discovery in Romania.”

Stock Chart

Link

Paradigm: Event – Using Microseismic Data to Build a Structural Model in SKUA-GOCAD

 

 

 

Paradigm: Event – Using Microseismic Data to Build a Structural Model in SKUA-GOCAD

The right kind of microseismic data set has a bounty of associated attributes that can be used to interpret important structural elements in the reservoir.  These can impact stimulation efficiency, and after the well comes on line, production.  This presentation demonstrates the workflow used to analyze the geometry of the dots in the box to first identify features, such as reactivated faults, existing natural fracture sets, and mechanical boundaries. Then, using analyses of the event attributes, we show how to build a volume containing a discrete fracture network that includes deterministic faults.  Finally, analyses of the reservoir stress state prior to and during the treatment will be applied to the structural features model to refine the reservoir flow characteristics around the treated well.

Biography

Sherilyn Williams-Stroud, President and CEO of Confractus, Inc., is a consulting geologist based in southern California.  Her areas of expertise include microseismic analysis, fracture modeling, structural restoration, reservoir stress/strain analysis, and rock fracture mechanics, with applications to oil and gas exploration and production in conventional and unconventional resources, and geothermal energy production.  She received her MA and PhD from The Johns Hopkins University and her BA from Oberlin College.  Her more than 25 years of experience in government and industry includes research and technical support in the exploration and production technology departments of Texaco, Chevron and Occidental Oil, as well as providing consulting services to operators worldwide while employed at Midland Valley Exploration and MicroSeismic Inc. In addition to teaching industry short courses in her areas of expertise, she taught geology at the University of Houston while employed full time in the oil and gas industry, is a former full-time faculty of Whittier College, and is currently an adjunct faculty member at California State University, Northridge.  She has significant expertise interpreting and utilizing microseismic data, and is the co-author of a patented methodology to integrate microseismic data into geologic interpretations for fracture modeling of microseismic results for use in reservoir simulation.

Link

PGS: New 3D Seismic in North Madura Supports MIGAS Licensing Plan

 

 

 

PGS: New 3D Seismic in North Madura Supports MIGAS Licensing Plan

Seismic vessel PGS Apollo has completed a triple source MultiClient 3D survey in North Madura and is now available for other acquisition projects, as part of PGS’ support for the MIGAS plan for licensing new areas in the North Madura / East Java Basin and beyond.

DCIM100MEDIADJI_0999.JPG

The North Madura 3D is the first MultiClient 3D that has been acquired in Indonesia for over six years. PGS Apollo towed a triple source configuration and an efficient spread designed to deal with operational constraints in the locality.

PGS has applied modern seismic acquisition methods, including acquisition-based wavefield deghosting, which allows a raft of tailored imaging solutions using dual sensor GeoStreamer® true broadband technology to be deployed.

GeoStreamer benefits

PGS’ GeoStreamer acquisition and imaging techniques record more detailed broadband data from shallow to deep, exploiting a full spectrum of low-to-high frequencies, to provide clearer images and more reliable data for AVO/AVA analysis.

GeoStreamer data supports the exploration journey from prospect identification to assessing rock properties. GeoStreamer derived rock properties closely match well measurements, making it possible to extrapolate lithology and better predict fluid types.

Link

Thalassa Holdings: Share Buy­Back

 

 

 

Thalassa Holdings: Share Buy­Back

The board of Thalassa announces that on 4 December 2017 the Company purchased 80,000 of its shares at a price of 99 pence per share. These shares will be held in treasury and in total there are now 5,244,882 shares in treasury. This purchase was made in accordance with the Company’s Articles of Association and with a board authority dated 12 July 2017 to buy back up to £4,000,000 of the Company’s shares. As at the date hereof, the Company has purchased 2,136,225 shares under this authority for a total cost of £1,852,175 or an average price of 86.70 pence per share. The average purchase price of the total number of shares held in treasury is 60.99 pence per share for a cost of £3,198,614.

The Company advises that, following this purchase, the Company’s issued share capital remains at 25,567,522. The total number of shares with voting rights is now 20,322,640. This figure represents the total voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company in compliance with Thalassa’s Articles of Association.

Link

Schlumberger: Agrees To Pay $1.35M To End Wage Suit

 

 

 

Schlumberger: Agrees To Pay $1.35M To End Wage Suit

A group of mostly former Schlumberger equipment operators and trainees on Friday asked a federal court to sign off on a $1.35 million deal to settle their lawsuit accusing the company of cheating them out of wages.

The plaintiffs said that they have come to an agreement with Schlumberger Technology Corp. and Schlumberger Ltd. to settle the lawsuit that alleged the company violated the Fair Labor Standards Act by paying equipment operators and trainees under the “fluctuating workweek” method.

Link

Greenpeace: Taking the NZ Government to court over seismic testing

 

 

 

Greenpeace: Taking the NZ Government to court over seismic testing

Greenpeace is taking legal action against the Government in a final stand to stop seismic testing off the Taranaki coast.

Greenpeace said that the Amazon Warrior needs a permit from DOC under the Marine Mammal Protection Act in order to seismic blast in the blue whale habitat.

The announcement was made at a rally held at Parliament on Tuesday afternoon.

Greenpeace campaigner Kate Simcock said anyone undertaking activities that could disturb marine mammals must seek a permit.

She says there is clear evidence that seismic exploration disturbs and even injuries whales, with the Amazon Warrior set to fire blasts every 10 seconds, 24 hours a day for up to three months.

The Government approved the Schlumberger-operated Amazon Warrior’s application under the Crown Minerals Act to search for oil along the Taranaki coast last week.

The decision has been heavily protested by iwi and Taranaki locals with a march held through the streets of New Plymouth on Saturday and a petition to parliament gathering 10,000 signatures in a week.

The Amazon Warrior is currently berthed in Golden Bay, Nelson.

Link

Seanamic: Umbilicals International opens quayside manufacturing site

 

 

 

Seanamic: Umbilicals International opens quayside manufacturing site

Umbilicals International has opened its new quayside manufacturing site in Channelview, Texas.

The site is beside the ship channel and houses the company’s flagship horizontal helix machine, extrusion line, and supporting equipment.

The company will add additional lines and handling equipment from Seanamic Groupcompany Caley Ocean Systems in 2018.

Bob Conners, CEO of Umbilicals International, said: “This site gives Umbilicals International a new and strong future. Our enhanced capabilities at Channelview, coupled with our established 100,000-sq ft [9,290-sq m] facility in Stafford, Texas, means we can offer an extensive range of cable and umbilical products which are an expected component of SURF packages.”

Three months ago, the company opened its UK facility in Glasgow, Scotland.

Link

Magseis: Awarded Contract Extension

 

 

Magseis has together with is partner, BGP, been awarded an extension to the ongoing contract with BGP Arabia and Saudi Aramco to acquire additional ocean bottom seismic data in the Red Sea. The new survey has an expected duration of more than seven months and will commence in January 2018. The survey features complicated surface and geological conditions with a combination of deep and shallow marine work. The combination of Magseis’ OBS technology (MASS) and BGP’s transition zone expertise ensured the extension to the consortium. M/V Artemis Athene, Magseis’ OBS vessel, will be used for the survey.

Commenting on the award, Magseis’ interim CEO Per Christian Grytnes said: “We are very pleased to receive this new award that demonstrates our ability to deliver large and complex projects. We view this as a sign of confidence from our end client Saudi Aramco and a confirmation of the high-quality product that our joint operation delivers”.

Stock Chart

Link

FairfieldNodal: Awarded Z700® project in North Sea June 2018

 

 

FairfieldNodal: Awarded Z700® project in North Sea June 2018

FairfieldNodal will begin a large Z700 acquisition project in the North Sea, June 2018.

FairfieldNodal acquired the original baseline survey with the Z700 data acquisition system, ideally suited to perform the ultimate 4D monitor for superior data quality.

This acquisition project is expected to take less than two months to complete.

Link