Data acquisition has commenced on a new 2-D multiclient survey offshore Brazil covering up to 10,000 km.
Spectrum has kicked off the new program targeting recent deepwater discoveries at Barra, Muiru and Farfan in the frontier Sergipe Basin, with reserve estimates put at up to 3?Bbbl of oil in place. According to Spectrum, these finds are in mid-Cretaceous to early Tertiary turbidite channel systems and the data are being acquired with a 10,000 m (6.25 mile) long offset, which it said is necessary to record the required information necessary to understand the architecture of the basins as well as to image mid and lower Cretaceous sections.
Data acquisition is being carried out by the BGP Challenger and data processing will be carried out in Houston. Deliver of prestack time migration and prestack depth migration data is scheduled for the fourth quarter of this year, ahead of a licensing round for the region in 2015, for which Spectrum has also completed reprocessing of 8,130 km (5,081 miles) of previous data.
Recommended Reading
Talos Energy Expands Leadership Team After $1.29B QuarterNorth Deal
2024-04-25 - Talos Energy President and CEO Tim Duncan said the company has expanded its leadership team as the company integrates its QuarterNorth Energy acquisition.
Energy Transfer Ups Quarterly Cash Distribution
2024-04-25 - Energy Transfer will increase its dividend by about 3%.
ProPetro Ups Share Repurchases by $100MM
2024-04-25 - ProPetro Holding Corp. is increasing its share repurchase program to a total of $200 million of common shares.
Baker Hughes Hikes Quarterly Dividend
2024-04-25 - Baker Hughes Co. increased its quarterly dividend by 11% year-over-year.
Weatherford M&A Efforts Focused on Integration, Not Scale
2024-04-25 - Services company Weatherford International executives are focused on making deals that, regardless of size or scale, can be integrated into the business, President and CEO Girish Saligram said.