There have been no seismic data acquired in the U.S. portion of the Atlantic Ocean in decades. It hasn’t been for lack of trying.
In 2008 the moratoria prohibiting the development of new Outer Continental Shelf (OCS) acreage was lifted, and the following year the U.S. Department of the Interior initiated the regulatory process to allow seismic surveying in the Atlantic OCS. Until July 13, 2015, no new permits were forthcoming.
Then ARKeX, a company offering airborne full-tensor gravity gradiometry (FTG) surveys, received its permit. At first blush it seems like a huge stride. But it comes with a caveat. FTG data are a nice complement to seismic data, but not a replacement.
At a recent hearing before the House subcommittee on energy and mineral resources, the mood was tense. Rep. Doug Lamborn (R-Colo.), chairman of the committee, noted that a research vessel was launched in 2014 to do seismic surveys. The vessel received a permit within five months. Eight seismic companies, meanwhile, have been waiting for more than a year.
“Spectrum first met with [the National Marine Fisheries Service, or NMFS] in December 2014,” said Richie Miller, president of Spectrum Geo Inc. “At that time we understood that we would complete the process in the spring and could then begin acquiring seismic data this summer. That time has since slipped considerably, and our application has still not been deemed complete.”
The major holdup is the need for companies to obtain an incidental harassment authorization (IHA) before surveying can commence. The NMFS recently announced that these IHAs would be put up for public review, a move that Miller referred to as “unprecedented” in his testimony.
Added Jim White, president of ARKeX, “Everything depends on what NMFS is going to do with the information that they receive from the public review. That’s going to dictate what’s going to happen as far as the process moving forward.
“We have 12 months to get the project executed and completed, and the clock started ticking the day we received our permit,” he said. He added that it would take about nine months to complete the survey with one aircraft.
Recommended Reading
U.S. Shale-catters to IPO Australian Shale Explorer on NYSE
2024-05-04 - Tamboran Resources Corp. is majority owned by Permian wildcatter Bryan Sheffield and chaired by Haynesville and Eagle Ford discovery co-leader Dick Stoneburner.
1Q24 Dividends Declared in the Week of April 29
2024-05-03 - With earnings season in full swing, upstream and midstream companies are declaring quarterly dividends. Here is a selection of dividends announced in the past week.
Analyst Questions Kimmeridge’s Character, Ben Dell Responds
2024-05-02 - The analyst said that “they don’t seem to be particularly good actors.” Ben Dell, Kimmeridge Energy Partners managing partner, told Hart Energy that “our reputation is unparalleled.”
Tellurian Reports Driftwood LNG Progress Amid Low NatGas Production
2024-05-02 - Tellurian’s Driftwood LNG received an extension through 2029 with authorization from the Federal Energy Regulatory Commission and the U.S. Army Corps of Engineers.
Zeta Energy Appoints Michael Everett as COO
2024-05-02 - Prior to joining Zeta Energy, a lithium-sulfur battery developer, Michael Everett previously served as president and COO at Advanced Battery Concepts.