Geology & Geophysics ///

SAExploration bags ocean-bottom marine seismic awards for $45 million

SAExploration Holdings has announced new project awards for ocean-bottom marine seismic data acquisition services collectively valued at approximately $45 million.

Lundin to drill appraisal well in Barents Sea

The Norwegian Petroleum Directorate has granted Lundin Norway a drilling permit for an appraisal well 7220/11-2 under PL609 in the Barents Sea.

Alaska’s Sen. Murkowski slams Obama leasing plan

U.S. Sen. Lisa Murkowski, R-Alaska, has criticized the Obama administration for its continued campaign to shut down oil and natural gas activity in Alaska.

Obama lease sale strategy includes offshore Mid- and South Atlantic

Secretary of the Interior Sally Jewell and Bureau of Ocean Energy Management (BOEM) Director Abigail Ross Hopper have announced the next step in the development of the U.S.'s Outer Continental Shelf (OCS) Oil and Gas Leasing Program for 2017-2022.

Exciting year ahead for Europe's upstream sector, Wood Mackenzie says

Wood Mackenzie's European upstream research team have assessed the most significant events of 2014 impacting Continental and Mediterranean Europe’s—all of Europe excluding UK and Norway—oil and gas sector, including the Ukraine Crisis and the collapse of global oil prices, identifying the key areas to watch this year.

Launching licensing rounds in tough times

The low oil price and high project costs mean countries are under pressure to make oil and gas licensing rounds as attractive as possible for bidders if they are to be successful.

Oil price slump spurs CNPC to focus on natural gas, cut costs

Stung by the slump in crude oil prices, China National Petroleum Corp. said it will speed up natural gas exploration in 2015 and take “revolutionary measures” to cut costs.

Aker Geo renamed following Aker Solutions split

Aker Geo will—following the split of Aker Solutions—operate under the First Geo brand with immediate effect.

Spectrum kicks off 2D survey offshore Western Australia

Spectrum has started the first phase of its 11,000 km Rocket Multi-Client 2D seismic survey in the South Carnarvon, and North Perth basins, offshore Western Australia. This first phase comprises 4,200 km, and the survey has received strong support from industry.

Eni makes new discovery in Egypt's Western Desert

Eni has announced a new discovery of oil and gas in the West Melehia deep exploration prospect, located in the Melehia license, in the Western Desert of Egypt.

CGG donates Hampson-Russell software to University of Oxford

CGG GeoSoftware has donated its Hampson-Russell geophysical software suite, covering all aspects of seismic exploration and reservoir characterization, to the University of Oxford in the UK.

Exploratory oil drilling increased 75% in fourth quarter, API says

Estimated U.S. exploratory oil well completions increased by 75% in the fourth quarter of 2014 compared to year-ago levels, according to API' s 2014 Quarterly Well Completion Report, Fourth Quarter.

Lundin bags eight licenes in Norwegian licensing round

Lundin Petroleum, through its wholly owned subsidiary Lundin Norway AS has been awarded eight exploration license interests in the 2014 Norwegian Licensing Round (Awards in Predefined Areas, APA).

Mexico’s bidding round will remain competitive, GlobalData says

With Mexican oil open to private investment for the first time, the country’s initial bidding round is expected to remain competitive despite low oil prices, delays and a number of uncertainties, according to research and consulting firm GlobalData.

Total must curb costs, lower break-even point, CEO says

DAVOS, Switzerland (Bloomberg) -- Total SA must lower its break-even point and cut spending amid weak crude prices that could last at least until the middle of the year, CEO Patrick Pouyanne said.

Norway announces awards from APA 2014

OSLO, Norway -- The Norwegian government has offered ownership interests in 54 new production licenses in connection with the Awards in Pre-defined Areas 2014 (APA 2014). The 54 production licenses are distributed over the North Sea (34), the Norwegian Sea (16) and the Barents Sea (4). A record number of applications were submitted by a total of 47 companies in APA 2014.

Norway eyes Barents Sea in new licensing round

OSLO, Norway -- Norway's Ministry of Petroleum and Energy has announced the 23rd licensing round. The round consists of 57 blocks, or parts of blocks. These are distributed with 34 blocks in the south-eastern Barents Sea (the formerly disputed area towards Russia), 20 blocks in other parts of the Barents Sea and three blocks in the Norwegian Sea. The government aims to award new production licenses in the first half of 2016.

Noble Energy strikes out with Gulf of Mexico wildcat

HOUSTON -- Noble Energy has announced that its Madison exploration well in the Gulf of Mexico reached the targeted Upper and Middle Miocene objectives and did not encounter commercial hydrocarbons.

Lundin spuds exploration well on Zulu prospect in North Sea

STOCKHOLM, Sweden -- Lundin Petroleum, through its wholly owned subsidiary Lundin Norway, has started drilling exploration well 26/10-1 in PL674BS. The well will investigate the hydrocarbon potential of the Zulu prospect in PL674BS, located 100 km west of Stavanger on the Norwegian west coast and approximately 30 km northeast of the Johan Sverdrup discovery.

MicroSeismic achieves over 1 million man hours without an LTI

HOUSTON -- MicroSeismic has achieved 1,075,548 hours without a lost time incident (LTI).