CGG: Trading halt request for 1 Dec 17 at 14:00

 

 

 

CGG: Trading halt request for 1 Dec 17 at 14:00

The decision by the Commercial Court of Paris on the approval of the draft safeguard plan and on the claim filed against it by certain holders of convertible bonds is expected in the afternoon of December 1, 2017.

Therefore, the Company will ask for a trading halt on Euronext Paris and NYSE for the following shares from 2pm until close of trading:

 

  • The Company’s shares (ISIN : FR 0013181864),
  • Convertible bonds due 2019 (ISIN : FR 0011357664)
  • Convertible bonds due 2020 (ISIN : FR 0012739548)

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BellGeospace: Webinar – Driving Exploration in Malaysia with Air-FTG®

 

 

 

BellGeospace: Webinar – Driving Exploration in Malaysia with Air-FTG®

The current low oil price demands innovative solutions for companies, contractors and governments to maintain exploration strategies and exploit the value proposition on their acreage to the industry at large. The net effect has been reduced spend or slow-down in meeting commitments to advance projects. The impact is immense. Innovative solutions transform such practices from cost-saving to de-risking projects. One such technology currently in demand is the airborne gravity gradiometry technology, Air-FTG®

Colm Murphy, Chief Geoscientist at Bell Geospace delivered the webinar – Driving Exploration in Malaysia with Air-FTG® – on 7 November 2017. The webinar is now available to watch:

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Schlumberger: Announces Q4-17 & FY17 Results Conference Call details

 

 

 

Schlumberger: Announces Q4-17 & FY17 Results Conference Call details

Schlumberger Limited (NYSE:SLB) will hold a conference call on January 19, 2018 to discuss the results for the fourth quarter and full year ending December 31, 2017.

The conference call is scheduled to begin at 8:30 am US Eastern time and a press release regarding the results will be issued at 7:00 am US Eastern time.

To access the conference call, listeners should contact the Conference Call Operator at +1 (800) 288-8967 within North America or +1 (612) 333-4911 outside of North America approximately 10 minutes prior to the start of the call, and ask for the “Schlumberger Earnings Conference Call.”

A webcast of the conference call will be broadcast simultaneously at www.slb.com/irwebcast on a listen-only basis. Listeners should log in 15 minutes prior to the start of the call to test their browsers and register for the webcast.

Following the end of the conference call, a replay will be available at www.slb.com/irwebcast until February 19, 2018, and can be accessed by dialing +1 (800) 475-6701 within North America or +1 (320) 365-3844 outside of North America, and giving the access code 433023.

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YPF: Picks Up Partners For Offshore Bidding

 

 

 

 

YPF: Picks Up Partners For Offshore Bidding

Argentina’s YPF is forming partnerships to participate in offshore bid rounds, as it looks to ramp up exploration work with a view to laying the groundwork for long-term production growth.

The state-run company’s chairman, Miguel Gutierrez, said last week that the company had sought partners to bid in the first tender for offshore blocks that is scheduled for December. It is Argentina’s first tender for offshore acreage since the 1990s. “We have agreements with partners to participate,” he said at an energy seminar in Buenos Aires.

In its 2018-22 investment plan that was announced on October 30, YPF said it wanted to build up reserves by 50% by widening exploration, including in offshore areas. The programme calls for the company to invest US$21.5 billion out of its own pocket and another US$8 billion or so from partners.

The federal government, which has authority over offshore acreage, plans to start a series of tenders in December, first targeting the southernmost region off Tierra del Fuego. That is where there is already offshore production, with current output of around 24 mcm per day of gas, led by France’s Total. 

The government has said the first tender will be for blocks in the shallower waters of the continental shelf of the Austral Marina and Malvinas Marina. Earlier this year the government awarded permits to Australia’s Searcher and Norway’s Spectrum to carry out seismic and other studies to establish a better idea of the area’s potential.

Though YPF’s Gutierrez did not name any of the potential partners for the offshore tenders, in late 2016 the company teamed up with Norway’s Statoil for a prospecting programme in an area covering 360,000 square km that lies just north of Tierra del Fuego close to the maritime border with Uruguay.

YPF has also said there is potential off the coast of Buenos Aires Province, where it could drill a wildcat well as soon as 2021.

In the short and medium terms, YPF aims to build production by using enhanced oil recovery (EOR) techniques to wring more out of maturing conventional reserves while growing production through the development of unconventional resources. YPF is the biggest player in the Vaca Muerta, one of the world’s largest shale plays.

YPF has said wants to expand hydrocarbon output by 25% to 700,000 boepd in 2022 from an average of 558,800 boepd in the first nine months of 2017.

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CGG: Alaminos Canyon – Complementary WAz 3D Survey

 

 

 

CGG: Alaminos Canyon – Complementary WAz 3D Survey

A new East-West, Wide-Azimuth, long-offset survey has just been acquired over existing underlying NW-SE and NE-SW surveys to deliver 185 blocks of complementary wide-azimuth data, adjoining and overlapping the Mexican Encontrado survey. The new and legacy data will be processed together through a state-of the-art sequence to provide superior multi-azimuth imaging.

All CGG multi-client data worldwide are available for license on a non-exclusive basis. Contact CGG for availability, quality inspection and pricing.

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GC Rieber: Pens 2 Year Contract with Mexico’s Oceanografia for Polar Queen Vessel

 

 

 

 

 

GC Rieber: Pens 2 Year Contract with Mexico’s Oceanografia for Polar Queen Vessel

GC Rieber Shipping has signed a two year contract for its second subsea newbuild with the Mexican company Oceanografia. The vessel, which will be named “Polar Queen”, has recently been handed over from the Spanish shipyard Freire Shipyard, and the contract will start up in November. Three of the four vessels in the Company’s newbuilding program are thus delivered and all of them are on hire.

With the whole fleet engaged, we are very well positioned going forward, says Irene Waage Basili, CEO.

 

Oceanografia has more than forty years experience in offshore contracting and operates a substantial fleet of owned and chartered vessels in the Gulf of Mexico. “Polar Queen” will operate on a contract for the Mexican state oil company PEMEX. – This is the first contract in the Gulf of Mexico for GC Rieber Shipping, and gives us presence in a new and growing market for us, says Basili.

“Polar Queen” is 110.6 meters long and has a a beam of 20 meters. She is equipped with a 150 ton offshore AHC crane, has accommodation capacity of 112 people and a deck area of 1000 square meters. The vessel is designed by Skipsteknisk and meets the latest environmental standards through the class designation “Clean Design”.

With the delivery of the “Polar Queen”, only one vessel remains in the company’s ongoing newbuilding program, the seismic vessel yn 533. The seismic operator Dolphin Geophysical has an option to charter this vessel. -Implementation of our new building program and a diversified client portfolio puts us in a strong position to meet what we believe will become active and exciting years for the offshore industry, says Basili.

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Fugro: Fugro Equator to search for Australia’s first submarine

 

 

 

 

Fugro: Fugro Equator to search for Australia’s first submarine

HMAS AE1, the first to submarine to serve in the Royal Australian Navy, was lost at sea with all hands near Papua New Guinea on September 14, 1914.

Despite several searches, the HMAS AE1‘s wreck has never been found, but a new search effort will conduct a bathymetric survey and UAV search from the Fugro Equator, which participated in the search for Malaysian Airlines flight MH370, in an effort to solve the WW1 mystery.

The Australian Government announced it would match private investment to fund the expedition to search for HMAS AE1 and its crew.

The expedition will be led not-for-profit-company Find AE1 Ltd and supported by geotechnical survey firm Fugro, the Australian National Maritime Museum and the Submarine Institute of Australia. The Silentworld Foundation, a not-for-profit organisation with a focus on Australasian maritime archaeology, and the Royal Australian Navy are the major sponsors funding the search that aims to locate the historic vessel and enable proper commemoration.

Survey personnel from Fugro Equator survey vessel will use a state-of-the-art multibeam echosounder to conduct a bathymetric survey, along with an autonomous underwater vehicle for close examination of the search area.

Minister for Defence, Senator the Hon Marise Payne, said the government would provide $500,000 to allow Find AE1 Limited to proceed. “HMAS AE1 is one of the world’s great maritime mysteries and this expedition will be one of the most comprehensive searches for the submarine,” Minister Payne added. “The Government is proud to join the Silentworld Foundation, Australian National Maritime Museum and Fugro in supporting Find AE1.”

The HMAS AE1 had Australian, British and New Zealand crew members aboard when she was lost.

Fugro Link     Link

Oil spill technology research continues for Arctic exploration

Oil spill technology research continues for Arctic exploration

Arctic oil spill response technology remains a focus of significant research as the oil and gas industry seeks to minimize its footprint on the Arctic environment.
As the global oil and gas industry turns its attention to Arctic exploration and production, research by industry and academia continues into Arctic oil spill technology.

The Arctic oil spill response Joint Industry Programme (JIP) last week released the findings of its research efforts into in-situ burning (ISB) in ice-affected waters and the fate of dispersed oil under ice.

Over the past several decades, a significant body of scientific research and testing has been carried out of techniques and technologies available for oil spill responsein icy conditions, including the Arctic. The Arctic oil spill response JIP was launched in January 2012 to further build on existing research, increase understanding of potential impacts of oil on the Arctic marine environment, and improve the technologies and methodologies for oil spill response.

The JIP includes six technical working groups focused on dispersants, environmental effects, trajectory modeling, remote sensing, mechanical recovery and in-situ burning. Each group is headed by a subject matter expert experienced in oil spill response research and development. The JIP also has a field research group to examine opportunities for the JIP to participate in field releases or research to gather scientific and engineering data needed to validate certain response technologies and strategies.

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Beach Energy: Farms into Cue’s Ironbark gas prospect

 

 

 

 

Beach Energy: Farms into Cue’s Ironbark gas prospect

Australian oil and gas company Cue Energy has agreed to sell equity in exploration permits WA-359-P and WA-409-P in the Carnarvon Basin, offshore Australia, to Beach Energy.

Cue Energy said on Wednesday that the sale of equity in the two blocks, which contain the giant Ironbark gas prospect, was made through its 100%-owned subsidiary Cue Exploration Pty Ltd, and is subject to conditions and approvals.

Under the terms of the agreement, Beach will acquire 21 percent equity in the block and free carry Cue for four percent of the cost of drilling the Ironbark-1 exploration well. Beach will also reimburse Cue with $900,000 for past costs.

The agreement is conditional on BP exercising its option to acquire 42.5% equity in WA-359-P, Cue obtaining an extension to the current permit end date, and other customary approvals.

To remind, BP was given more time in early October to decide if it wants to take the equity. The oil major has until December 11 to decide.

WA-409-P equity option

Cue also granted Beach an option over 7.5 percent equity in exploration permit WA-409-P, adjoining WA-359-P. If Beach exercises the option, it will free carry Cue for 7.5 percent of the costs of drilling a well in the block.

The company will also receive a 10 percent royalty on all future revenue from Beach’s 7.5 percent equity in the permit. The option may be exercised until July 2019.

Ironbark

Ironbark is a giant Mungaroo Formation prospect that is mapped with an area of up to 400 square kilometers and a best technical estimate of 15 Tcf of prospective recoverable gas resources based on an internal assessment performed by Cue.

The prospect is less than 50 kilometers from the North Rankin platform and near Pluto and Wheatstone LNG infrastructure.

Cue CEO, Matthew Boyall, said: “These agreements are another major step forward in securing partners and funding to drill the Ironbark well. They display the confidence that another major company has in Cue’s Ironbark prospect. Including the BP 42.5 percent option, Cue has now conditionally secured 75 percent of the funding for the Ironbark-1 well and retains potential long-term value from any success in WA-409-P through revenue royalty.

“Cue currently retains 36.5 percent uncommitted equity in WA-359-P, and we continue to talk to companies interested in forming a joint venture together with Beach and BP to share in this high impact opportunity.”

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