Month: September 2017

 

 

 

Stock Traded 45.3% Above Its 50 Day Moving Average

ION Geo is currently trading at $7.80 which is significantly above the 50 day moving average which is $5.37 and significantly above the 200 day moving average of $4.65. The 50 day moving average was up $2.43 or +45.37% and the 200 day average was up $3.15. 61K shares changed hands on Friday. Overall, volume was down 57.45% under the stocks normal daily volume.

Traders are a little more bullish of late if you watch the decrease in short interest. The stock saw a fall in short interest of -3.86% as of the latest report on August 15, 2017. Short interest decreased from 1,204,307 to 1,157,781 over that timeframe. With short interest at 1,157,781 and short average daily volume at 117,712, days to cover is 10.0 and the percentage of shorted shares was 0.10% on August 15.

 

 

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Integrated geoscience programs facilitate exploration

CGG’s JumpStart programs are integrated multiclient geoscience projects designed to accelerate an industry understanding of petroleum systems and support exploration efforts. They are a new addition to an existing range of integrated geoscience products, which also includes Reservoir Optimization Packages, specifically designed for U.S. onshore reservoirs, and GeoSpec TerraCube regional projects, which are based on released legacy data. JumpStart programs complement the company’s existing multiclient library, including seismic surveys and Robertson Studies (Red Books).

When industry players explore a new area, collating all the available data can be challenging and time-consuming. Integrated geoscience programs provide a comprehensive, consistent resource of easily accessible data for evaluating petroleum systems, assimilating all the available data in a specific geographical area and framing it within a geological context. These programs enable clients to directly access the reviewed, validated, calibrated and interpreted datasets in one place in an accessible and ready-to-use format.

There are seven JumpStart programs nearing completion: in the northern North Sea, offshore Gabon, in the Timor Sea, offshore Australia, in the Gulf of Mexico and two offshore Brazil.

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Cote d’Ivoire Roadshow – Cape Town

The Côte d’Ivoire Exploration Opportunities Roadshow 2017 has aroused considerable interest around the world, and this event is now coming to Africa Oil Week in Cape Town.

On 25th October, The Ivorian Minister of Petroleum, Energy and Development of Renewable Resources (MPEDER), Mr. Thierry TANOH will be hosting an event to promote Petroleum Investment Opportunities in the sedimentary basin of Cote d’Ivoire.

PGS is supporting the roadshow and will present concessions now available for licensing over which PGS MultiClient data has been acquired.

Event: Cote d’Ivoire Roadshow 2017
Location: Africa Oil Week, Cape Town International Convention Centre
Dates: Wednesday 25th October

PGS Cote d’ivory web page     Link

 

 

 

 

Share Buy Back Update

In the period from 4 September up to and including 8 September, Royal Boskalis Westminster N.V. (Boskalis) repurchased own shares. The repurchases took place within the framework of the share buyback program announced on 3 July 2017.

Click here for a complete overview of all individual transactions.

Boskalis will publish a press release every Monday for the duration of the buyback program, provided shares were repurchased in the preceding week. Interested parties can subscribe to these press releases at ir@boskalis.com.  An overview of the progress of the program can be found on www.boskalis.com/sharebuyback2017.

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AUV Navigation Research Abstract

This paper extends the progress of single beacon one-way-travel-time (OWTT) range measurements for constraining XY position for autonomous underwater vehicles (AUV).

Traditional navigation algorithms have used OWTT measurements to constrain an inertial navigation system aided by a Doppler Velocity Log (DVL). These methodologies limit AUV applications to where DVL bottom-lock is available as well as the necessity for expensive strap-down sensors, such as the DVL. Thus, deep water, mid-water column research has mostly been left untouched, and vehicles that need expensive strap-down sensors restrict the possibility of using multiple AUVs to explore a certain area.

This work presents a solution for accurate navigation and localization using a vehicle’s odometry determined by its dynamic model velocity and constrained by OWTT range measurements from a topside source beacon as well as other AUVs operating in proximity.

We present a comparison of two navigation algorithms: an Extended Kalman Filter (EKF) and a Particle Filter(PF). Both of these algorithms also incorporate a water velocity bias estimator that further enhances the navigation accuracy and localization. Closed-loop online field results on local waters as well as a real-time implementation of two days field trials operating in Monterey Bay, California during the Keck Institute for Space Studies oceanographic research project prove the accuracy of this methodology with a root mean square error on the order of tens of meters compared to GPS position over a distance traveled of multiple kilometers.

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The Oil and Gas Authority (OGA) has estimated that an additional 900 million barrels of oil could be extracted from the UK Continental Shelf (UKCS) by increasing the recovery factor (RF) of a prioritised selection of large oil fields.

 

Recovery factor is the overall proportion of oil expected to be extracted from the UKCS. The OGA’s Recovery Factor Benchmarking report, published on 7 September 2017, presents an estimate of the current expected recovery factor for UKCS oil fields and highlights the ongoing work the OGA is undertaking with industry to identify how economic recovery can be increased.

The current forecast recovery factor of the UKCS is around 43 per cent, which means that over half of the oil that has been discovered is left within the reservoir. Over time, average benchmarked RF performance has increased; but with field complexity also increasing over time, the result is that the overall RF has not significantly changed. Small improvements to these rates could make a major difference to overall reserves, fully aligned with Maximising Economic Recovery UK.

By looking at the potential of a number of prioritised fields, the OGA estimates that an additional 900 million barrels of oil could potentially be produced through increases to RF as a result of improved asset stewardship.

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West Tech Breakfast, Geophysical Society Houston

At a GHS West Tech Breakfast Meeting, to be held September 13^th, Peter Wang, Paradigm Geophysical Technical Advisor, will present a paper, A New Technique for Lithology and Fluid Content Prediction from Prestack Data: An Application to a Carbonate Reservoir.  The paper, co-authored by Kamal Hami-Eddine, Bruno de Ribet (Paradigm), Pascal Klein (EISTI University, Pau, France), Loic Richard (TOTAL), and Maelle Grout (ENGIE), presents a new neural network-based methodology called Democratic Neural Network Association (DNNA).

The talk is open to the general public, free of charge, and no registration is required for non-members.  GSH members, please register on the GHS Event page.

Date & Location

September 13, 2017, 07:00
Schlumberger Facility
10001 Richmond Ave.
Houston, TX  77042

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Buried Array – Permanent & Real-Time Shallow Subsurface Monitoring

MicroSeismic’s BuriedArray data acquisition deploys a permanent array of MicroSeismic-designed geophone strings installed in the near surface to monitor an area of more than 500 sq. miles (1,300 sq. km). BuriedArray Permanent & Real-Time Shallow Subsurface Monitoring uses PSET® technology to provide results that show how fractures are propagating during the well treatment. By determining source mechanisms, PSET processing provides a greater understanding of the effectiveness of the stimulation treatment.

BuriedArray is ideal for operators who need to monitor multiple wells or require monitoring through the life-of-field. The wide area coverage provides economies of scale. As more wells are monitored under the same array, costs decline dramatically relative to any other microseismic acquisition techniques. The ability to monitor large areas repeatedly with the same equipment leads to more strategic field planning and development, and the ability to monitor refracs.

Array Design

The BuriedArray installs include multiple level combinations of 1C and 3C phones at depths varying according to the established noise profile. The density of stations will also vary based on event detectability; from two to eight stations deployed per square mile. Shallow burial of phones typically reduces surface noise more than 20 dB allowing sparser station spacing, reducing cost. BuriedArray stations can be live 24/7 as they are powered by battery, solar, and wind sources. Data can be recorded locally or transmitted wirelessly back to the main processing unit.

Key Benefits

• Most economical method to monitor multiple wells
• Consistent and accurate event location over entire monitored area
• Life-of-field and refracture monitoring
• Directly map local stress orientations
• Observe field-wide well stimulation
• Map individual and multiple well drainage areas with long-term production monitoring
• Monitor multi-zones and multi-wells simultaneously
• Optimize infill well spacing and lateral length for increased production efficiency
• Permanent array provides refract monitoring capabilities
• Ideal for 24/7 time-lapse monitoring applications

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SAGA 2017 Expanding Frontiers

The Conference, a staple of the geophysical fraternity in Africa, provides a forum for engagement, idea generation and sharing.

Embracing the theme of ‘Expanding Frontiers’, experts will be sharing novel methods and applications related to the field of geophysics.

Field trips, workshops, special sessions and discussion panels offer a diverse selection of platforms during which to network with thought leaders and pioneers.

Our personalized trade exhibition is a must see, the global economy is turning – don’t miss this excellent opportunity to showcase your brand!

The conference will provide networking opportunities to the range of delegates, which will include:

• Mining juniors & majors
• Petroleum companies
• Geophysicists, geologists, hydrologists
• Geoscience consultants and service providers
• Geophysical contractors
• Geoscience researchers
• Mathematicians
• Software developers
• University and industry academics and students
• Associated professional societies

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