Month: August 2017

 

 

Extract from the Thalassa Holdings group results for the 6 months ended 30 June 2017.

• Completion of PRM surveys over Snorre and Grane in the North Sea
• Completion of PRM survey over Ekofisk in the North Sea
• Ongoing operations over Eldfisk In the North Sea

The seismic market’s recovery remains elusive, as the price of Brent crude dropped back during the first half of 2017 to around $50/bbl, and market commentators do not expect a recovery in seismic service day rates until at least mid-2018.

 Given the difficult market environment, WGP’s operational performance was solid and it successfully completed three and a quarter life of field surveys in the first half of 2017. Unfortunately, one of WGP’s projects continues to suffer from significant operational issues which are yet to be resolved. These issues have resulted in unacceptably high levels of downtime due to equipment failure. Fortunately, however, data quality has not been affected and data delivered is deemed better than 2016 by the client.

 In the first half of 2017 WGP continued with a solid HSE performance with zero recordable incidents for the period. Also, WGP’s quality, occupational health & safety and environmental management systems were successfully audited by BSI in May for their compliance with ISO 9001, 18001 and 14001.

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SeaBird Exploration Plc (“SeaBird” or the “Company”, with the ticker “SBX on the Oslo Stock Exchange) is pleased to announce that all consents required for the comprehensive restructuring announced 26 May 2017 have now been obtained.

The Company has signed an agreement with Glander whereupon USD 1,911,896 of the principal amount and all accrued interest as of 3 June 2017 owed to Glander under the Glander Credit Facility shall be  irrevocably repaid and discharged upon the issuance of SeaBird shares to Glander at NOK 5.00 per share and that the remaining claim of Glander under the Glander Credit Facility of USD 440,591 will be amended with the maturity date being extended until 30 June 2020, no principal payments until 30 June 2020 and the introduction of payment-in-kind interest for all interest payments to be made under the Glander Credit Facility

Furthermore, the Company has entered into an Exchange Agreement and a confirmation with TGS that all SBX04 Bonds outstanding under Tranche A shall be transferred to the Company and that any interest on such SBX04 Bonds shall be irrevocably discharged in exchange for the transfer of title to the majority of the Company’s multi-client library assets to TGS.

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It explains itself….

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Anadarko Petroleum Corporation has announced that it had finalised two agreements with the Government of Mozambique – together known as the “marine concessions” – which would allow it to design, build and operate the marine facilities for its LNG project in northern Mozambique. This follows the publication of the Mozambican Government Decrees approving those agreements.

“This is a key milestone on the path to a final investment decision (FID) for our initial two-train LNG project,” says Mitch Ingram, Anadarko Executive Vice President, Global LNG. “It marks the completion of the core components of the Legal and Contractual Framework with the Government. We will now look ahead with our plans to begin resettlement, which will enable the construction of the LNG plant. In addition, we continue to make good progress with our efforts to secure long-term LNG Sales and Purchase Agreements (SPAs) with premier buyers, and we will intensify our work to put in place the necessary financing for the project. We expect to take FID once the SPAs and financing are in place.”

 

 

Anadarko is developing Mozambique’s first onshore LNG plant consisting of two initial LNG trains with a total capacity of 12 million tonnes per annum (MTPA) to support the Golfinho/Atum field located entirely within Offshore Area 1.

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SAExploration Holdings, Inc. (NASDAQ:SAEX) (OTCQB:SXPLW) today announced plans to release its unaudited consolidated financial results for the second quarter ended June 30, 2017 on Wednesday, August 2, 2017 after close of trading. SAE has scheduled a conference call for Thursday, August 3, 2017 at 10:00 a.m. ET to discuss these results and other related matters.

SAExploration Holdings, Inc. Q2 2017 Earnings Call
Date:	Thursday, August 3, 2017
Time:	10:00 a.m. ET (9:00 a.m. CT)
Phone:	(855) 433-0934 (Toll-Free)  or  (484) 756-4291 (Toll)

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We have an excellent opportunity to be an active member of our Health Safety Security & Environment team here in the Perth office, on a permanent basis. The Logistics HSSE Advisor will support the Logistics Department with extensive HSSE related data analysis and trending, risk assessments and KPI reporting to lead in identifying logistics improvements/ innovations to drive Goal Zero. The position will provide Logistics HSSE support and advice to the Asset, to ensure that all Logistics HSSE matters are managed in accordance with the Shell Logistics Safety Case.

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Monroeville’s council will consider regulating seismic testing this week.

“It will probably be the main topic,” Monroeville manager Tim Little said.

Residents can voice their concerns and council is expected to discuss on a proposal to regulate a company’s efforts to “map” rock formations beneath Monroeville through seismic testing.

The ordinance will be discussed at the council’s Citizens Night in council chambers at 6 p.m. Thursday.

Resident and founder of Sustainable Monroeville Elisa Beck hopes the ordinance is similar one Oakmont passed in July.

The law requires a company interested in seismic testing to obtain a non-refundable, $500 permit and limits when the company can perform the testing. “We need to have say about how, where and when they do this,” Beck said. “Right now, they’re barging into our community and doing it.”

The Monroeville-based Huntley & Huntley Inc. has hired two Texas companies, Geokinetics and Cougar Land Services, to perform the testing. According to Monroeville’s website, the testing has been delayed until the latter part of 2017.

A company spokesman has been quoted saying the process precedes Marcellus Shale development.

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When one thinks of a seismic company in oil and gas, you might envision macro-seismic, the seismic operations that encompass entire geologic formations to create 3D profiles of an entire reservoir.

MicroSeismic Inc., however, is on the other end of the spectrum—evaluating stimulated rock on a well-to-well basis. The core of its business is to analyze the quality and characteristics of fractures made during the well-stimulation process.

Using the data from MicroSeimic’s fracturing analysis to understand how a formation might respond to its stimulation and completion operations, an operating company can better design the spacing, orientation, and location of their horizontal wells to maximize production.

MicroSeismic accomplishes its magic utilizing geo-phones to detect acoustic signals in the rock. These acoustic signals are generated during the stimulation or fracturing process. MicroSeismic essentially “listens” to how the reservoir responds to fracturing and stimulation, and its technology can determine the length, location and orientation of new fractures.

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PetroSkills are pleased to be offering the following Basic Geophysics Training course:

This course is designed to familiarize anyone using seismic data with the nature of the data and what they specifically represent. One of the key goals of the course is to explain the large and confusing amount of jargon that is used by the geophysical community when they use seismic data. The course is supplemented by a large number of case histories that concretely illustrate the principles in the course material. These are updated with every course presentation to keep up with the rapidly developing technology in this field. Each section of the course is supported with a classroom exercise. The course participants are given a thumb drive that contains the case histories, class exercises, and all of the extensive PowerPoint animations used in the classroom.

 

 

 

 

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ION Geophysical Corporation (NYSE: IO) today announced that it will release its second quarter 2017 financial results on Wednesday, August 2, 2017 after the market closes.  In conjunction with the release, ION has scheduled a conference call, which will be broadcast live over the Internet, for Thursday, August 3 at 10:00 a.m. Eastern Time (9:00 a.m. Central Time).

For those who cannot listen to the live call, a telephonic replay will be available through August 17, 2017 and may be accessed by calling (877) 660-6853 using pass code 13665027#.  Also, an archive of the webcast will be available shortly after the call on the company’s website at http://investorrelations.i-o.com for approximately 12 months.

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