The agreement includes an upfront cash payment, a tiered revenue share from future sales of the divested MC Projects and cash payments for costs deferred under existing contractual agreements.
“We expect that the resource plays beneath the Blythe and Cronx/Elgood fields are larger than first anticipated, and with additional reservoir understanding we can more than double our proven reserves, which are currently 3.0 MMboe,” IOG CEO Mark Routh said.
In cooperation with TGS and supported by major oil companies, Dolphin mobilized its high capacity 3-D Sanco Swift vessel to acquire the North Carnarvon Basin survey covering both newly awarded licensed and open acreage, a news release said.
Understanding drainage volume and improved permeability of stimulated rock is essential to forecasting production, according to MicroSeismic Inc.
Lowry worked for Fugro Australia and Seabed Geosolutions.
Through the new 3-D acquisition, Energean said it aims to improve the seismic imaging of the Prinos Field and the satellite oil fields Prinos North and Epsilon.
The survey will be acquired utilizing the PGS GeoStreamer technology in Eastern Newfoundland Orphan Basin and South Labrador. Data acquisition will commence during summer 2015, the release said.
Chevron Corp. is studying data from its largest-ever seismic survey of the Great Australian Bight, Bloomberg said. TGS Nopec Geophysical Co., gathered data covering about 22,000 sq km of the untapped area.
The first phase of the acquisition program, named Mexico Campeche-Yucatan 2D Regional, comprises 12,200 km of regional lines from the full 44,000 km program.
The survey is being undertaken by PTSC CGGV Geophysical Survey Co. utilizing the 3-D seismic survey vessel Amadeus, a news release said.
Thieves made off with discs containing copies of seismic data belonging to Repsol SA and Canacol Energy Ltd., Mines and Energy Minister Tomas Gonzalez said this week, according to Bloomberg.
A joint software development project between an oil major and a leading contractor is coming to fruition.