Business News for the week of 14 January 2013

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Seismic crew survey reports

EMGS receives letter of intent for large 3D EM survey in Asia

17 January 2013—EMGS has received a letter of intent for a contract totaling approximately six months of 3D EM data acquisition in Asia. Final confirmation and award of the program is dependent on the customer's internal tender board approval.

It is expected that the 3D EM survey program will be performed using the vessel BOA Thalassa with start-up in the first quarter of 2013.

 

Spectrum multiclient seismic to offer advantage in Brazil's round 11

29 January 2013—Brazil's President Dilma Rousseff has authorized licensing round 11, which is anticipated to be held in May 2013.

Spectrum has recently acquired 38,588 km of new long-offset 2D seismic data over the Foz do Amazonas, Barreirinhas, Ceará, and Potiguar Basins in the Northern Equatorial Margins offshore Brazil. In addition, a reprocessing effort is underway on a seismic data set tying the Foz do Amazonas, Pará-Maranhão, and Barreirinhas Basins. Spectrum offers over 48,000 km of multiclient seismic in this area of extremely high prospectivity.

Spectum's multiclient seismic data is located in all offshore basins that are included in round 11 and cover most of the sector block areas that have been released by the ANP as the basis for the final block selection. Final PSTM, PSDM, and other ancillary products are available or will be available from Spectrum for round 11.

 

CGGVeritas has simplified its brand name to CGG

28 January 2013—CGG announced that the main agreements needed to close the acquisition of Fugro's Geoscience Division have been signed. The effective date of the closing will be 31 January 2013, with the exception of the airborne activity which will be integrated later, once all operating licenses and administrative authorizations have been received.  
 
With this transaction, CGG becomes a fully integrated geoscience group. Based on this, CGGVeritas decided to shorten and simplify their brand name to CGG. The current legal name of the listed company remains "Compagnie Générale de Géophysique – Veritas". The update of the current legal name to "CGG" will be submitted by the board of directors for approval at the next shareholders meeting on 3 May 2013.
 
As of 1 February 2013, the group will have "CGG" as its new ticker symbol on both the Euronext Paris SA and the New York Stock Exchange.

 

Spectraseis announces appointments in the USA and Canada

29 January 2013—Spectraseis announced sales and engineering appointments of David Grenier and Richard Marcinew.

Grenier has joined Spectraseis as sales director in Houston. Grenier brings more than 30 years of experience delivering oilfield services to E&P customers in the USA, including 23 years in logging, engineering, and account management with Halliburton. Grenier's most recent role at Halliburton was business development manager at Pinnacle, where he was responsible for marketing microseismic services in Houston. He holds a BS in electrical engineering from the University of North Dakota.

In Canada, Richard Marcinew has joined Spectraseis as an engineering adviser based in the company's Calgary office. Marcinew will consult with USA and Canadian customers on the integration of microseismic and well engineering data.

Marcinew is a leading industry expert in technologies related to well construction and completions, hydraulic fracturing, as well as reservoir conformance, simulation and evaluation. Prior to joining Spectraseis, Marcinew was an adviser at Calmena Energy Services and engineering manager for Well Production Services at Schlumberger Canada. He holds a BSc degree in mechanical engineering from the University of Alberta and is a member of the Association of Professional Engineers and Geoscientists of Alberta (APEGA) as well as SPE.