PGS: RSA – License Opportunities in the Transkei Basin

 

 

 

PGS: RSA – License Opportunities in the Transkei Basin

As part of an extensive 13 300 line km 2014 MC2D GeoStreamer survey, PGS has over 3 000 line km of new high quality data covering Block 56 which is readily available for regional prospect analysis.

Block 56 sits adjacent to ExxonMobil’s Transkei block and the smaller Algoa and East Algoa licenses to the south, all of which have excellent 2D coverage from a single PGS GeoStreamer survey.

PGS has conducted a number of G&G studies over this region. These include gravity and magnetics, basin modeling and ongoing quantitative interpretation.  Contact the MC Africa sales team if you wish to review this exciting frontier exploration region.

24th Africa Oil Week

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Argentina: Auction for offshore oil exploration coming next year

 

 

 

Argentina: Auction for offshore oil exploration coming next year

Energy and Mining Minister Aranguren seeking to develop fields off Atlantic coast, citing example of Brazil.

Energy Minister Juan Jose aranguren is ready for international oil prices, which have been stuck in the US$50region, to rise.

That is why he announced this week that the country plans to auction offshore oil and gas rights next year.

The idea is to follow in the footsteps of Brazil, which last week attracted a record US$1.14 billion in its 14th round of bidding for exploration and production rights in the so-called pre-salt basins off the country’s atlantic coast.

“There is a high probability that the pre-salt basin that exists on the coast of Brazil continues south and so we see the discovery of any formation of oil and conventional gas in the area as very attractive. It could be very profitable for the country,” aranguren said at a press conference in Buenos aires on Thursday.

“You will ask, ‘at these prices?’” aranguren told reporters. “Yes, at these prices, because we want to be prepared when prices go up.”

Global oil and gas producers have focused on the Vaca Muerta shale fields, leaving argentina’s coasts unexplored. Earlier this year, state-run yPf teamed up with norway’s Spectrum to conduct an offshore seismic survey, while australian firm Searcher Seismic was also operating in the region.

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CGG: Reservoir Geophysicist wanted – Houston

 

 

 

CGG: Reservoir Geophysicist wanted – Houston

CGG Services (U.S.) Inc. in Houston, TX seeks Reservoir Geophysicist. Qualified applicants will possess a MS in Geophysics or related field and 1 year of experience in the job offered or 1 year of experience with unconventional reservoirs and reservoir characterization projects that integrate geological, geophysical, petrophysical and reservoir engineering information and

experience on offshore Brazil reservoir characterization and exploration
projects, including pre-salt fields. In lieu, will accept a BS in Geophysics or related field and 5 years of experience in the job offered or 5 years of experience with unconventional reservoirs and reservoir characterization projects that integrate geological, geophysical, petrophysical and reservoir engineering information and experience on offshore Brazil reservoir characterization and exploration projects, including pre-salt fields. To submit resumes, please mail resume to Eve Stoddard, Manager, Immigration-HR at
10300 Town Park Drive, Houston, Texas, 77072.

Must put job code RESGEO2017 on resume.

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MultiClient Geophysical: Amended offer terms

 

 

 

MultiClient Geophysical: Amended offer terms

Amended offer terms and update on the voluntary offer to acquire all outstanding shares in MultiClient Geophysical (MCG) by Geoex Ltd .

Competing offer has offer price of 1.25 Norwegian crown per MCG share . Offer price in initial offer made by Geoex was 1.20 crown per share .

Geoex has decided to increase consideration in initial offer to 1.40 crown per share . Accepting shareholders will receive full settlement of 1.40 crown per share upon completion of offer .

Increased offer valuates total share capital of MCG at about 130.0 million crowns ($15.9 million) .Amended offer price represents premium to offer price offered by Spectrum ASA in competing offer of about 13 percent.

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CGG: Source Solutions

 

 

 

CGG: Source Solutions

All seismic imaging begins with the release of acoustic energy into the water, continues with the propagation of this energy through the subsurface and finishes with the harvesting of encoded messages from the reservoir. To get the required response from the reservoir you have to start with the right sound, at the right level and from the right angle.

The image of the subsurface and the attributes of the reservoir have to be de-correlated from any imprint of the acquisition system. CGG has done extensive work to eliminate the echo of the water surface from the image and attributes. Our advanced deghosting technologies from acquisition to processing demonstrate the expected efficiency and accuracy on both the source and receiver sides of the Marine Acquisition System.

Full Source Characterization
However, our ambition is to improve the image resolution. The reality of acquisition reveals the marine source to be continuously moving. From a distance it appears as a single dot, quiet and static, but from close-up and shallow any element of the 250m2 source array structure can be distinguished. Removing the illumination imprint of this structure requires an accurate estimation of the seismic signature of each element at its real location.

Full Source Characterization technology enables the estimation of the source signature produced by each single element for any direction (azimuth) at any distance (offset) and for each single shot. A full acquisition system scrutinizes the sound propagation of each source element at near field, mid-field and far-field and dedicated real-time software performs joint inversion of those measurements. The complexity of the generated wavefield is revealed: the activated bubbles, their interactions, and their reflection from the sea surface. The contribution of each element at any location and any depth can be identified. Now the removal of the imprint of the marine source system from the images and attributes of the subsurface regardless of depth becomes possible:

3D source deghosting and designature, critical for shallow targets, accurately performs 3D receiver deghosting
3D deghosting and designature of BroadSource accurately releases the images and attributes from the bubble imprint on Low Frequencies
Monitoring of stability of the source signal for all azimuths and offsets enables the areas where shot to shot deconvolution is recommended to be highlighted
The expectations of 4D source repeatability are very high. Any source imprint, even on some azimuths or offsets, reduces the detectability threshold for the 4D signature. With Full Source Characterization technology, CGG moves forward, in combination with 4D illumination monitoring, to set the assessment of repeatability beyond the geometrical repeatability of source/receiver positions.

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Fugro: Ground Structures positioning self for oil take-off

 

 

 

Fugro: Ground Structures positioning self for oil take-off

A GEOTECHNICAL engineering company is using its own funds to build local content here and could be ready to break ground when U.S. oil and gas giant Exxon Mobil moves into oil production in 2020.

The Ground Structures Engineering Consultants (GSEC) located in D’andrade Street, Newton, Georgetown, has been in existence for almost 25 years, having been founded back in 1993 by U.S.-trained Geotechnical Engineer Charles Ceres. The company has been offering geotechnical engineering and environmental services to a number of local and international companies.

Today, the company has trained many Guyanese, some of whom have moved on to foreign countries lending their expertise. Speaking to the Guyana Chronicle on Thursday, Ceres said the entity has been working with a number of projects and companies including Guyana Goldfields, Troy Resources and even the Amaila Falls Hydro project.
“Our track record speaks for itself. Because we do not work for the government, persons might think we do not exist… we are not involved in public sector projects, people do not know that we are around,”Ceres told this newspaper.

The company’s outstanding track record has seen it being selected in April this year by Fugro, a Dutch geotechnical company that offers survey, subsea, and geoscience services for clients, including oil and gas, telecommunications cable, and infrastructure companies. Currently, GSEC engineers are conducting geotechnical laboratory tests on soil samples recovered during the Liza 1 geotechnical drilling programme.

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WesternGeco v ION Geo: Panel examines patent law cases in new Supreme Court term

 

 

 

Panel examines patent law cases in new Supreme Court term

On October 4, a panel of professors at Penn Law discussed six possible patent law cases for the U.S. Supreme Court’s (SCOTUS) upcoming term.

The event, titled “Preview of Patent Cases Before the Supreme Court, October 2017 Term,” was co-hosted by Penn Law and Center for Technology, Innovation and Competition (CTIC) and held in Silverman Hall at the Law School. The panel consisted of intellectual property rights specialists Professor Cynthia Dahl and Professor R. Polk Wagner. The diverse cases covered topics such as international infringement, statutory interpretation, the inter partes review (IPR) system, and software patents.

Wagner started the panel by talking about two upcoming Supreme Court cases, Oil States Energy Service v. Greene Energy Group and SAS Institute Inc v Matal. In Oil States v. Greene Energy, the Supreme Court will rule on whether IPR, a type of patent review by the judicial branch, is unconstitutional because it negates private property rights.

Wagner predicted that the Court would rule in favor of the respondent, Greene Energy Group, due to a 2016 precedent in MCM Portfolio LLC v. Hewlett-Packard Company. Still, he noted that it was strange that the Supreme Court would take on another IPR case so soon.

“I just can’t imagine they would strike down this entire regulatory regime that there have been billions of dollars and thousands of federal employees established in,” Wagner said. “However, what makes me nervous is why on Earth did they take on this case? They denied the MCM Portfolio…and didn’t seem like they had much interest in it.”

Regarding SAS Institute Inc v Matal, which deals with whether the U.S. Patent and Trademark Office’s Patent Trial and Appeal Board (PTAB) can issue written decisions on select rather than all claims filed by the petitioner, Wagner predicted the Court would also uphold the federal circuit’s decision in favor of the respondent, Matal. The outcome of this case will affect the future of statutory interpretation methodology, Wagner said, though he noted that this was a “fairly thin issue for SCOTUS review.”

Professor Dahl followed Wagner with a discussion on four cases that were still pending certiorari from the Supreme Court but remained of high interest to patent law watchers — WesternGeco LLC v. ION Geophysical Corp, Samsung Electronics Co. v. Apple, Unwired Planet LLC v. Google Inc., and Openet Telcom Inc v. Amdocs Limited.

Two cases, WesternGeco LLC v. ION Geophysical Corp and Openet Telcom Inc v. Amdocs Limited, interestingly brought up issues that the Supreme Court already recently ruled. In WesternGeco v. ION, the petitioner’s claim of patent infringement when elements of a product are combined overseas was addressed just last term in Life Technologies Corp. v. Promega Corp. Similarly, Openet Telcom v. Amdocs follows a 2014 Alice Corp. v. CLS Bank Internationalruling, in which the Supreme Court struck down the patentability of electronic “abstract ideas.”

Dahl said that, if taken, the case could have implications for software patent eligibility, as the federal circuit had produced a rare pro-software decision for it. However, due to the narrow petition question and the Alice precedent, this may not happen.

“I’m not sure that this is the right case they would pick to actually look at patent eligibility and software patent eligibility,” Dahl said. “They just ruled Alice in 2014, so I’m not sure if enough time has passed for them to really make…this issue a compelling issue. Perhaps it might be nice to get some guidance on software patent eligibility.”

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Spectrum Geo: Q3-17 Financial Update

 

 

Q3-17 Financial Update

Based on preliminary figures for Q3 2017, Management expects to report Net Multi-Client Revenue of approximately USD 17 million for the quarter (USD 11.4 million in Q3 2016).

The Multi-Client Capex is expected to be approximately USD 13 million (USD 8.1 million in Q3 2016).
Spectrum expects to report a cash balance of USD 10.5 million and secured Net Interest Bearing Debt of approximately USD 16.5 million as of 30th September 2017.
Spectrum will report 3rd quarter 2017 financial results 13th of October 2017.

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