Author: SeisNews

An oil tanker and a cargo ship have collided in the English Channel.

The collision happened 15 miles north east of Dover at 02:00 BST, the coastguard said.

The 183m (600ft) tanker Seafrontier, which is loaded with gasoline, has a hole above the waterline and damage to the superstructure, the RNLI said.

The 225m (740ft) Huayang Endeavour was also damaged. None of the crew on board either ship was injured.

“Although both vessels have been damaged, there is no water ingress and no pollution,” a coastguard spokesman said.

Huayang Endeavour was en route to Lagos in Nigeria and Seafrontier was travelling to Puerto Barrios in Guatemala. The vessels have Chinese and Indian crews on board, the UK coastguard said.

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The plan by the Nigerian National Petroleum Corporation to grow the nation’s crude oil reserves to 40 billion barrels by the year 2020 received a major boost on Thursday with the execution of a tripartite agreement in Abuja.

The agreement was between the NNPC/FIRST Exploration & Production Joint Venture and Schlumberger for the development of the Anyalu and Madu fields in the Niger Delta under Oil Mining Licence, OML 83 and OML 85, offshore Nigeria.

Under the agreement, Schlumberger would provide the over $700 million development cost of the Anyala and Madu fields which would generate 193 million barrels of crude oil into the current reserves of 37.2billion barrels and an additional 800 billion cubic feet of gas into the nation’s proven gas reserves which currently stand at 197 Trillion Cubic feet of gas .

In terms of daily production, the fields will yield 50, 000 barrels of crude oil per day and 120 million standard cubic feet of gas per day by early 2019.

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VAALCO Energy, Inc. announced that it had received notification on June 28, 2017, from the New York Stock Exchange (“NYSE”) that the price of the Company’s common stock has fallen below the NYSE’s continued listing standard.  The NYSE requires that the average closing price of a listed company’s common stock not be less than $1.00 per share for a period of over 30 consecutive trading days.

Under NYSE rules, the Company can avoid delisting if, during the six month period following receipt of the NYSE notice and on the last trading day of any calendar month, the Company’s common stock price per share and 30 trading-day average share price is at least $1.00.  During this period, the Company’s common stock will continue to be traded on the NYSE, subject to compliance with other continued listing requirements.

The NYSE notification does not affect the Company’s business operations or its SEC reporting requirements and does not conflict with or cause an event of default under any of the Company’s material debt or other agreements.

The Company will be notifying the NYSE of its intent to regain compliance with the NYSE continued listing standards within the six-month period.  The Company is committed to working with the NYSE to regain compliance and maintain the listing of its common stock.

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Schlumberger and Seitel announced a strategic multiclient alliance to reimage and acquire new geophysical data in key areas across onshore Mexico.

Approximately 25,000 kilometers of 2D seismic data from Mexico’s National Hydrocarbons Commission (CNH) data library will be reimaged covering lease blocks in the current Bid Round 2, as well as future onshore lease round blocks. In addition, new multiclient data acquisition projects are already in development.

The newly reprocessed seismic data and any new acquisition projects will provide subsurface images of proven oil and gas reservoirs in the Sabina-Burgos, Tampico-Misantla, Veracruz and Sureste areas, as well as the under-explored Chihuahua province, and other strategic areas. The reimaging program covers both conventional and unconventional onshore lease blocks in the areas.

‘The areas for reimaging were strategically selected to deliver regional analysis of the prospective plays across onshore Mexico with both organizations using high-end processing workflows,’ said Maurice Nessim, president, WesternGeco, Schlumberger. ‘This alliance capitalizes on each organization’s strong commitment to Mexico exploration over some of the largest onshore Mexico fields, including the onshore Cuenca del Sureste Basin, which shares many hydrocarbon system elements with the prolific Pilar Reforma-Akal in the shallow water Campeche area.’

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seis.news looks forward to meeting current associates and to meet new ones

Bell Geospace, the world leader in Gravity Gradiometry, has completed a FTG survey for GTK, an agency of Finland’s Ministry of Employment and Economy.

The survey was conducted in the municipality of Inari, Finland and has provided GTK with a solid basis for geological research and mineral potential evaluation.

Work was completed ahead of time and with both environmental and livestock issues to overcome, the service provided by Bell Geospace was sensitive to local factors.

Use of Bell Geo’s Basler Turbo aircraft ensured extremely low noise emissions during the project, which minimised disruption for reindeer husbandry, a vital part of the culture and livelihood in northern Finland.

The outcomes will now be modelled with interpretation for the agency to facilitate evaluation and modelling of ore and mineral deposits.

John Macfarlane, executive vice president of Bell Geospace, comments: ‘This is the second survey we have undertaken for GTK and it has been successful in producing high quality results. FTG is a valuable source of information for the agency and having observed the logistical demands required, it is a good demonstration of how we work in partnership with our clients.

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OGA’s consultation seeks views from industry on the OGA’s proposals for two sets of regulations relating to the retention, and to the public disclosure by the OGA, of petroleum-related information and samples pursuant to the Energy Act 2016:

1. Retention regulations will set out what information and samples industry will be required to retain, and for how long. Part 1 of this consultation seeks views from industry on the OGA’s proposals for what the retention regulations should contain.
2. Disclosure regulations will set out which information and samples the OGA may disclose publicly, and the time period after which disclosure may take place. Part 2 of this consultation seeks views from industry on the OGA’s proposals for what the disclosure regulations should contain.

These proposals for regulations aim to fulfil one of the key recommendations of the Wood Review, of ensuring greater access to timely and transparent data to facilitate MER UK, while minimising burden on industry.

OGA’s consultation will close on 25 August 2017.

Electromagnetic Geoservices ASA (EMGS) announces that the Company has entered into a prefunding and late sales agreement related to 3D CSEM data surveys in the Barents Sea in Norway. The agreement represents revenues of approximately USD 2.5 million. The data will be acquired during second half of 2017.

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Seismic testing firms blasting Atlantic

Number of companies seeking federal permits to disturb marine mammals while conducting seismic tests for offshore oil and gas reserves along the Atlantic Coast from Delaware Bay to Florida’s Cape Canaveral: 5

Date through which the National Marine Fisheries Service is taking public comments on those permits: 7/6/2017

Month in which the Obama administration denied all pending permits for seismic testing in the Atlantic in response to widespread opposition from coastal communities, businesses and scientists: 1/2017

Miles away that blasts from seismic airguns can be heard, with sound levels that can harm ocean life and disrupt fisheries: 2,500

Once underway, number of hours a day the testing would take place, with blasts about every 10 seconds: 24

The shortest period of days for which a company has proposed conducting the tests: 70

The longest: 300

Number of times that marine mammal behavior would be disrupted in the first years of the testing program, according to U.S. Interior Department estimates: 13 million

Number of endangered North Atlantic right whales, whose habitat would be affected by the proposed seismic testing, left in the world: about 500

Number of East Coast municipalities that have formally opposed seismic testing and/or offshore drilling over environmental and economic concerns: 126

Number of businesses that have done so as well: 41,000

Number of commercial fishing families that have also joined the formal opposition: more than 500,000

Number of marine scientists who have warned of “significant, long-lasting, and widespread harm” to ocean life should the blasting proceed: 75

Date on which more than 100 members of Congress from both major parties, led by Reps. John Rutherford of Florida and Don Beyer of Virginia, sent a letter to Interior Secretary Ryan Zinke opposing the Atlantic seismic testing plans: 6/29/2017

Date on which South Carolina Gov. Henry McMaster, a Republican, said he also opposed seismic testing in the Atlantic: 6/21/2017

Date on which President Trump issued an executive order aiming to expand offshore exploration and drilling to new areas including the Atlantic: 4/28/2017

Of the five seismic testing companies whose permit applications are now open for comment, number that are based solely in the U.S.: 1*

Number that are based in the Southeast: 0

* The companies seeking the permits are CGG of France; Ion GeoVentures, a division of Houston-based Ion Geophysical; Spectrum Geo, the Houston division of Norway’s Spectrum ASA; TGS-NOPEC Geophysical of Norway; and WesternGeco, a division of Schlumberger, an international firm with principal offices in Paris, Houston, London and The Hague. TDI-Brooks International of College Station, Texas, also sought permits but its application was returned for revisions.

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PGS will release its second quarter 2017 results on Thursday, July 27, 2017 at approximately 8:00 am Central European Summer Time (CEST).

The earnings release and a corresponding presentation will be posted on www.newsweb.no and on PGS’ web site www.pgs.com.

A presentation is scheduled the same day at 9:00 am CEST at PGS’ headquarters at Lilleakerveien 4C, Oslo, Norway. A conference call of the event is scheduled for 9.00 am CEST – dial in to listen to the presentation and ask questions after management’s remarks.

 An additional conference call is scheduled the same day at 2:00 pm CEST.

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