EMGS secures pre-funding from Statoil for Barents Sea campaign
2010.04.19 -
Company News
Electromagnetic Geoservices ASA (EMGS) is pleased to announce that it has secured pre-funding from Statoil to start an extensive multi-client 3D EM survey in the Barents Sea, ahead of Norway's 21st exploration licensing round.
The program presently stands at more than 4000 km2, and could be expanded subject to additional industry commitments. EMGS's multi-client data library in the Barents Sea will upon completion of the upcoming campaign cover more than 14,000 km2 of 3D EM data.
Carl Hutchins, EMGS president multi-client group, stated: "This year's survey builds on our successful 2008 campaign and will provide our clients with a significant competitive advantage when it comes to evaluating the most prospective areas. Our final deliverable product is 3D full azimuth anisotropic inversion, another EMGS multi-client first. This important tool allows geologists to position EM data at the proper depth for integration with their seismic-derived prospects."
Data acquisition will start shortly using the purpose-built vessel BOA Thalassa. Early delivery of 3D EM data will ensure that customers have ample time to apply knowledge gained from the EM surveys as a part of their bid preparation for the 21st licensing round in Norway.
Petroleum Geo-Services ASA ('PGS' or the Company) announced today that it has entered into a definitive agreement to acquire Applied Geophysical Services, Inc. (AGS) for a price of USD 51 million, subject to certain adjustments for changes in working capital. PGS estimates an enterprise value for AGS of approximately USD 46 million. AGS is based in Houston, Texas and specializes in providing advanced depth imaging services. The transaction is expected to close during the course of this week.
Total announces the acquisition of a 40% interest in three exploration permits northeast of Ichthys on the Australian Browse Basin jointly with Inpex (60%, operator). These interests were held by ConocoPhillips. This acquisition is subject to the approval of the Australian authorities.
Rowan Companies, Inc. (NYSE:RDC) announced today that it has entered into contracts with Keppel AmFELS, Inc. for the construction of four Super 116E class jack-ups. The rigs will be built at AmFELS' Brownsville, Texas shipyard, with delivery scheduled at approximately four-month intervals beginning in the second quarter of 2010.
Gaz de France has acquired a 45% stake in the Alam El Shawish West licence in Egypt from Vegas Oil & Gas.
Trico Marine Services, Inc. (NASDAQ: TRMA) ("Trico") and Active Subsea ASA (NOTC: ASUB) ("Active Subsea") today announced that Trico intends to make a voluntary offer for all outstanding shares, options and warrants of Active Subsea.
