Fairfield Nodal: Julia nodal survey delivers an exceptional image

Julia: an epic story of deepwater non-exclusive data. Node acquisition: a superior image earlier.

Julia: nodal survey delivers an exceptional image.

Our Julia survey summarizes the entire FairfieldNodal story—our full range of technology and the value it delivers—into one spectacular image. This story consists of:

  • A proven deepwater acquisition built around quality, reliability, efficiency and safety;
  • Proprietary processing and imaging technology designed to get the most out of node acquisition;
  • Flexible commercial terms designed around the recognition that our customer’s investment in node technology is part of a life-of-field seismic solution, one that not only provides a superior image but will enhance and extend production and reservoir optimization.

Node acquisition: a better image earlier.

OBN technology excels in the later stages of life of field by delivering high-quality, full-azimuth images for production seismic. However, operators are now beginning to realize the importance of having the best quality image from the earliest stages of field development.

To make the most of their investment, operators must acquire seismic data that brings value throughout the life of field. Whether selecting an initial well location or characterizing a productive field, OBN seismic data acquisition provides a superior image and a higher level of certainty about where to drill and how to develop reserves.

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Seabird Exploration: Source work in South America

SeaBird Exploration is pleased to announce that it has signed an agreement to provide a source vessel for an upcoming survey in South America. The project is anticipated to commence during Q3 and will have a duration of approximately 60 days. SeaBird will be using the Osprey Explorer for the project.

Osprey Explorer joined the fleet in August 2006 after being converted to 2D Long offset/source vessel in Poland. The DNV-classed vessel has a length of 81.16 meters and a beam of 15.96 meters.

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CGG: Opening of placement period

Opening of placement period for subscription commitments in respect of a proposed issuance of $375M of new six-year floating rate / 8.5% PIK second lien senior notes with warrants to eligible holders of existing senior notes.

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EMGS: Mandatory notification of trade

Mimi K. Berdal, board member and primary insider of Electromagnetic Geoservices ASA (EMGS), has used her allocated subscription rights to subscribe for 26,819 new shares in the ongoing Rights Issue in EMGS. The subscription was done through Berdal’s wholly owned company MKB Invest AS. The price per share is NOK 2.45.

Prior to the transaction, Mimi K. Berdal held 15,000 of the issued shares in EMGS.

An updated overview of the total holding of shares will be published following the issuance and allocation of the new shares.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act

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Schlumberger: Digital Transformation

Creating opportunities with technical expertise, leading technology, and digital integration

Digital transformation, data analytics, and machine learning. What do these have to do with oil and gas?  Everything. As the oil and gas industry begins to recover from the deepest downturn in the last three decades, it now has the opportunity to embrace a new way of working—through digital enablement.

In the World Oil article “Digital Transformation: A Mandate for the Future”, Ashok Belani, executive vice president of technology at Schlumberger, discusses how digital transformation driven by domain expertise and experience, creates opportunities to improve operational efficiency; increase asset reliability; and boost throughput and optimize field recovery—improvements that benefit all industry stakeholders.

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Polarcus: Awarded 3D XArray project offshore West Africa

Polarcus Limited (“Polarcus” or the “Company”) (OSE: PLCS) is pleased to announce that the Company has received an award for a 3D project offshore West Africa, to commence early in Q4 2017 with a scheduled duration of one month. The Polarcus XArray methodology will be utilized to optimize both data quality and acquisition efficiency.

Commenting on the news, Richard Price, Senior Vice President, Western Hemisphere, said: “We are pleased to have secured this project for our Q4 backlog, especially as the timing aligns very well with completion of the North Sea season. With only a short transit, this enables us to optimize vessel utilization and strategically position a vessel in West Africa for follow on work.”

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EMGS: Mandatory notification of trade

Siem Investments Inc., primary insider of Electromagnetic Geoservices ASA (EMGS), has used their allocated subscription rights to subscribe for 14,025,201 new shares in the ongoing Rights Issue in EMGS. The price per share is NOK 2.45.

Prior to the transaction, Siem Investment Inc. held 7,844,249 of the issued shares in EMGS.

An updated overview of the total holding of shares will be published following the issuance and allocation of the new shares.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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Seabed Geosolutions: Secures new ocean bottom node contract in Brazil

Seabed Geosolutions has been awarded a large 3D ocean bottom node (OBN) survey in the Santos Basin in Brazil. Seabed Geosolutions’ new, highly efficient Manta® node system will be used. The seven month contract is valued at around 90 million USD and is scheduled to commence at the end of the fourth quarter of 2017 or early 2018.

Stephan Midenet, CEO of Seabed Geosolutions: ‘We are very pleased to partner again with Petrobras to acquire the industry’s largest ever OBN survey, spanning more than 1,600 km2. We will deploy our new Manta© technology on this high-profile project, delivering a breakthrough in efficiency of ocean bottom surveys. We are confident that our crew, in close cooperation with Petrobras, will be setting new safety, data quality and efficiency standards for deep-water nodal surveys allowing for cost effective acquisition in both large scale and 4D projects.’

Seabed Geosolutions is a joint venture between Fugro and CGG. It collects geophysical data on the seabed through an array of imaging technologies for oil and gas companies, focused on the development and production phases of oil and gas fields. Seabed Geosolutions’ new versatile and ultra-efficient node solution Manta© represents a step change in seabed survey productivity in all configurations and water depths.

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WGP: Update on disposal discussions

Thalassa Holdings: Further to the Companys announcement of 19 April 2017, the board of directors (the Board) of THAL wishes to update the Market in respect of the ongoing disposal discussions.

 The Board has received an indication of interest from an industry participant for the potential acquisition of 100% of the business and assets of WGP Group Ltd. The interested party has commenced preliminary due diligence and the on-going discussions may or may not lead to a letter of intent. In addition, as part of the potential transaction, the Company may enter into an agreement to grant the interested party an option to invest in Autonomous Robotics Ltd, subject to reaching mutually agreeable terms.

 The Board fully expects that due diligence will be completed in the next few weeks and that negotiations should be completed shortly thereafter. The Board will continue to apprise the market of developments as they occur.

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

Shares in Thalassa were up 9.1% at 72.00 pence Monday morning 26 June 17.

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Faroe Islands: Looks to restart hunt for oil and gas

Oil companies are interested in restarting the hunt for oil and gas in the scarcely explored seas off the Faroe Islands neighbouring the more mature UK North Sea, the head of the Faroese Geological Survey said.

No economically viable discoveries have been made on the Faroese shelf but the tiny nation hopes to entice energy firms to restart exploration as it shows them new geological data in London on Wednesday.

“Oil firms have in many ways shown interest. We are having meetings, they buy data from us, visit us on the Faroe Islands … So there is an interest and they are looking at the possibilities,” survey director Niels Christian Nolsoe said.

He declined to identify any of the companies but said bigger firms could put up the necessary cash, adding that companies present in the UK Shetland region also might be interested.

The seabed is mostly covered by thick basalt layers, which make the Faroese offshore areas difficult to explore despite promising geological and seismic surveys.

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