Month: June 2017

The following blocks or parts of blocks are announced in the 24th licensing round:
6201/6
6202/4
6408/4, 7
6503/8, 11, 12
6504/10, 11
7018/1, 4, 5
7116/6
7117/4, 5
7130/6, 9, 12
7131/1, 2, 3, 4, 7, 8, 10, 11,12
7218/1, 2, 3
7225/2, 3
7226/1, 4, 5, 6, 7, 8, 9
7227/4, 7, 12
7228/10
7233/3
7234/1
7318/4, 5, 6, 7
7319/4, 5, 6
7320/1, 2, 3, 4, 5, 6
7321/1, 2, 3, 6
7322/1, 2, 4, 5, 8
7323/5, 6
7324/4
7325/2, 3, 6, 8, 9
7326/4, 7, 8, 9
7327/7, 8
7329/2, 3
7330/1, 2
7332/9
7333/7
7334/10, 11
7335/4, 5, 6
7420/12
7421/10, 11, 12
7422/10, 11, 12
7423/10
7426/10, 11

Green groups condemn plans to exploit Barents Sea area thought to hold 18bn barrels. Norway has infuriated environmental groups by opening up a record number of blocks in the Arctic for oil exploration.

The oil ministry is offering 93 blocks in the Barents Sea, entirely in the Arctic Circle, with applications by companies expected by the end of November.

The move to open up areas in the Arctic, including parts until recently covered in ice as well as blocks close to an important nesting site for birds, was met with dismay by environmentalists.

Nina Jensen, head of the World Wildlife Fund in Norway, said: “It’s just a perfect example of the dichotomy of Norway as a leading environment nation. We are telling everybody else what to do. But for us, it’s not even business as usual; it’s escalating business as usual.”

Oil companies are optimistic about the prospects in the Barents Sea. Several chief executives have said they think it will be the world’s next big oil region.

More     Link

Petroleum Geo-Services ASA (‘PGS’ or the ‘Company’) announces that the 2017 long term incentive plan, as approved by the Annual General Meeting on May 10, 2017, has now been implemented by allocating 839 480 Performance based Restricted Stock Units (‘PRSUs’) and 456 320 Restricted Stock Units (‘RSUs’).

The awards are based on amongst other considerations the position in the Company and a review on the individual participant’s performance prior to award. Any PRSU and RSU awarded will, subject to the participant’s continued employment with the Company (or a subsidiary), be settled three years after grant. The complete terms and conditions of the award are described in the calling notice for the 2017 Annual General Meeting.

Delivery of shares will take place from the Company’s pool of treasury shares or, if an insufficient number of treasury shares exist, it will be settled by cash payment of an equivalent value.

More     Link

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG, SINGAPORE OR THE UNITED STATES

The Financial Supervisory Authority of Norway has approved a prospectus (the “Prospectus”) covering the issue and listing of 58,634,735 new shares in Electromagnetic Geoservices ASA (“EMGS” or the “Company”) with tradable subscription rights for existing shareholders of the Company as per the end of 19 June 2017 as registered in the VPS on 21 June 2017 (the “Rights Issue”). A link to the Prospectus can be found on the Company’s homepage www.emgs.com

The subscription period commences 22 June 2017 at 09:00 CET and expires on 6 July 2017 at 12:00 CET (the “Subscription Period”). The Subscription Rights (as defined below) will be listed and tradable on Oslo Børs under the ticker “EMGS T” from 22 June 2017 at 09:00 CET until 4 July 2017 at 16:30 CET.

The gross proceeds to be raised in the Rights Issue are NOK 143,655,100 and will be used to strengthen the Company’s financial position and for general corporate purposes.

More     Link

A link to the prospectus covering the issue and listing of 58,634,735 new shares in EMGS can be found here.

More    Link

Mexico Round 2 Block Awards: 

Missing Block# = no bid

Channel Ship Services (CSS) Limited launched their new website during EAGE week.

Operating from Jersey in the Channel Islands, CSS Limited is a specialist offshore maritime recruitment and placement company, offering both short term contracts and permanent positions with client companies on a global basis.

CSS Limited provides highly qualified permanent and contract personnel to the worldwide offshore industry.

CSS purpose is to place people in their chosen market sectors, through excellent and responsive service to our candidates and clients, showing integrity at all times, listening to what people want while continually innovating their services.

As a key element of service to both clients and contractors, CSS Limited carry a comprehensive insurance programme and also undertake to handle all national insurance and taxation matters in conjunction with a network of in-country professionals.

More     Link

Schlumberger Limited (NYSE: SLB) (“Schlumberger”) has been notified of an unsolicited “mini-tender” offer by TRC Capital Corporation (“TRC Capital”) to purchase up to 2 million shares of Schlumberger common stock, representing approximately 0.14 percent of Schlumberger’s shares of common stock outstanding. 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.

Schlumberger does not endorse TRC Capital’s unsolicited mini-tender offer and is not associated in any way with TRC Capital, its mini-tender offer, or its mini-tender offer documents.

Because TRC Capital’s offer price is at a price below the current market price for Schlumberger’s common stock, Schlumberger recommends that stockholders reject this unsolicited offer or, if stockholders have already tendered shares, that they withdraw their shares by providing the written notice described in the TRC Capital mini-tender offer documents prior to the expiration of the offer, currently scheduled for 12:01 a.m., New York City time, on Wednesday, July 19, 2017.

More     Link

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). 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. By giving students the opportunity to explore the capabilities of our geoscience software, we are supporting the university in its aim to work closely with industry and the international community to give students an excellent technical grounding in preparation for their professional E&P careers.”

More     Link