Seis News

 

 

 

 

Settlement of parts of the 2014 PRSU program

Updated: Now including total holding of PRSUs and RSUs.

1. Settlement

The Performance based Restricted Stock Units (“PRSU”) awarded on September 1, 2014, settled on September 1, 2017. Employees in Petroleum Geo-Services ASA and subsidiaries (“PGS” or “the Company”) have received a total number of 27 500 shares. The value of the shares is taxable and reported as normal income. Following the transaction 27 500 shares will be transferred from the Company’s holding of own shares.

Subsequent to the transaction PGS holds 30 288 own shares.

2. Receipt of shares by primary insiders

Rune Olav Pedersen, President & CEO has received 25 000 shares in the Company at a price of NOK 14.66 per share.

Bård Stenberg, VP IR & Corporate Communications has received 2 500 shares in the Company at a price of NOK 14.66 per share.

3. New holding

After completion of the above mentioned transaction, Rune Olav Pedersen holds 90 000 PRSUs and 45 000 RSUs in the Company. As of today the primary insider owns 57 617 shares in the Company.

After completion of the above mentioned transaction, Bård Stenberg holds 11 800 PRSUs and 10 200 RSUs in the Company. As of today the primary insider owns 9 436 shares in the Company.

Link

 

 

 

APPEA HSE Conference

 

More     Link     HSE Conference Programme

 

 

 

 

New kid on the block

Testing started this summer on a new subsea pump being developed by Baker Hughes, a GE company (BHGE). It’s no ordinary pump. It has no barrier fluid, for a start, reducing the complexity of umbilicals and reducing topside support requirements. The impellers rotate around a static central shaft, avoiding rotor dynamic issues associated with conventional pumps.

It could be the next step in subsea multiphase boosting, a space in which new technology is needed, according to Pierre-Jean Bibet, rotating machinery department, expert in pumping systems, Total E&P. Speaking at the Underwater Technology Conference (UTC) in Bergen this June, he said the uses for multiphase pumps have been expanding, including transportation of fluids to a floating production system, to increase production from reserves by lowering wellhead pressure and producing viscous fluids.

The future potential is significant, but for new projects to come on, the biggest challenge is the Delta P (differential pressure), he says. “The issue is the higher power requirement to generate more head (pressure), which means higher speed and more head per stage. With existing designs, you can generate Delta P of 210bar at 60% gas volume fraction (GVF), which is almost the starting point for long tiebacks and deepwater projects. We need cost effective multiphase systems for ultra deepwater and long tiebacks.”

More    Link

 

Field QHSE Advisor
To ensure that the growth of Magseis becomes the success we envisage, we are seeking a Field QHSE Advisor. The position is open for immediate hiring.

Link

 

 

 

 

Delhi’s new Indian Ocean diplomacy

by Darshana Baruah

As China continues to ramp up its Indian Ocean presence, Delhi is stepping up its engagement, collaborations and demonstrations of leadership in the region. In addition to expanding its network of naval partners and bilateral exercises, India is also reviving regional institutions such as IORA and creating platforms to discuss security and strategic challenges in the region. This week’s demonstration of the same is the Indian Ocean Conference in Colombo.

The event’s high-profile speakers (which include India’s Foreign Minister; Sri Lanka’s President and Prime Minister; and senior leadership from Seychelles, Australia, Japan, Bangladesh and Singapore, among others) suggests strong regional support for India’s position. The actual content of the conference is largely symbolic – much more important is the message that India still leads the Indian Ocean region and remains, most emphatically, an active and present member of the region.

The conference and other similar initiatives are driven by the changing geo-politics in the region. The Indian Ocean, the primary area of operation for the Indian Navy, has largely been quiet on the geo-political front in recent years. But now it is re-emerging as a key strategic area. Chinese military and commercial expansion (particularly when combined with uncertainties in Washington under President Trump) is a cause for concern across the region. The border stand-off at Doklam in the north and Chinese expansion in the Indian Ocean have ratcheted up historic competition and rivalry between the two nations. While the visit of Indian Prime Minister Narendra Modi to China next week for the BRICS Summit is likely to pass without incident, the bilateral relationship between the two giants will remain tense, and the prospect of closer collaboration limited. Neither side is likely to cross the line into armed conflict, but strategic mistrust in the relationship will continue to deepen.

More     Link

 

Senior Salary Clerk
To ensure that the growth of Magseis becomes the success we envisage, we are seeking a Senior Salary Clerk to our Bergen office to make sure that the payroll accounting reports and funds distribution are accurate and ensure that the terms and policies of the salary legislation are met. The responsibility includes the companies: Magseis ASA, Magseis Operations AS and Magseis Services Pte Ltd

Link

Stock Prices: 1 Sep 17

Despite announcement of the Mozambique award CGG are trending downwards again as are Polarcus. A better looking chart today. For Seismic Stock charts visit Seis News Stock Prices and Charts page

Stock Update							1-Sep-17
Company		Index	Ticker		Price		Change
Boskalis		AEX	BOKA		27.45		0.05↑
CGG		NYSE	CGG		6.34		0.35↓
EMGS		OSE	EMGS		2.18		0.03↑
Fugro		AEX	FUR		10.66		0.24↑
ION Geo		NYSE	IO		7.35		0.10↑
Magseis		OSE	MSEIS		17.90		0.40↑
OYO		TSE	9755		1611.00		7.00↑
PGS		OSE	PGS		14.66		0.31↑
Polarcus		OSE	PLCS		1.14		0.02↓
SAExploration		NASDAQ	SAEX		1.59		0.01↑
Seabird Exploration		OSE	SBX		0.44		0.02↑
Schlumberger		NYSE	SLB		63.51		0.12↑
Spectrum		OSE	SPU		38.00		2.00↑
TGS		OSE	TGS		166.40		3.90↑
WGP Group		LSE	THAL		88.50		0.00↑
			Chart data available on the Stock Prices page

Magseis is expanding and to ensure the success , we are seeking a true teamplayer and highly motivated professional Sales & Marketing Manager with  base and network in the Houston, Texas area.

AREAS OF RESPONSIBILITY

• Provide direction and management of all sales & marketing activities for North and South America region by presenting Magseis to clients and developing and maintaining strong client relationships.
• Identify and develop pipeline of projects, preparation of sales and marketing strategies and tactics in line with corporate strategies.
• Development of business opportunities in the region and maintain strong relationship with partners, clients and other stakeholders.

Link

SEG and AAPG, the recognized global leaders in the dissemination of high-quality geoscience data and information, bring their International Conference and Exhibition (ICE) to London, 15-18 October, 2017. The 4th edition in the joint series, AAPG/SEG ICE London will gather geologists, geophysicists and other petroleum industry professionals from 60+ countries to build their knowledge and skills, discover technology innovations and network with peers.

If you want to become a leader and/or stay relevant in this constantly changing industry, you need access to the tools, content and contacts that will help you succeed. By participating in and supporting ICE, you’ll benefit from the Societies’ collective reach of more than 65,000 professional and student members worldwide, and align yourself with some of the most credible geosciences information available. It is this focus on science and community that unites the two societies in purpose and provides the cornerstone for both personal and business opportunities at the event.

Bonus – 2017 marks AAPG’s 100th Anniversary Celebration. Special programming and recognitions will intensify the experience and create memories you won’t soon forget.

Technical Programme & Registration Announcement          Exhibitors List

 

 

 

 

 

Our Houston office is in the Galleria district of Houston, and is obviously closed until all the damage is assessed and it’s safe to return.

Thankfully, all our SeisWare team there is safe and dry.

Here are a few photos in and around our office. 

If you would like to donate to the relief efforts, there are a number of organizations to contact. Text the word HARVEY to 90999 to make a $10 donation to the Red Cross. You can also visit redcross.org or call 1- 800-RED CROSS. Text UWFLOOD to 41444 to donate to the United Way Flood Relief Fund. NPR has a full list of charities providing assistance.

Link