Page 12 - NorthAmOil Week 48

NorthAmOil
NEWS IN BRIEF
NorthAmOil
Inga/Fireweed area of North East British Columbia (BC) in Canada.
The South Halfway 3D is the second multi-client onshore project this winter season in the NEBC Montney basin for TGS, it is complementing recently announced Midnight 3D. When completed, the South Halfway project adds nearly 100 square kilometres of high-quality 3D seismic data and ties into existing TGS’ 3D seismic coverage in the
area - exceeding 3,000 square kilometres
over highly prospective Montney acreage.
A full suite of AVO-compliant reservoir characterisation products, in addition to a suite of pre-stack depth-migrated deliverables, will be available in early 2020.
Kristian Johansen, CEO at TGS, said:
“The South Halfway 3D project is another great addition to TGS’ high quality seismic data coverage in the Montney basin in
British Columbia and further expands
our comprehensive onshore library in the region. Our combined seismic, well log and interpretation datasets provide the industry with invaluable subsurface insight, and the additional 3D coverage will be instrumental to our customers’ exploration and development efforts in the area.”
TGS, December 4, 2019
TGS announces declaration refocus, a next generation imaging programme in the US GoM
TGS announced today the Declaration Refocus next generation M-WAZ imaging programme in Mississippi Canyon in the US Gulf of Mexico. The new, high-end re- imaging workflow is designed to provide enhanced imaging and greater illumination
of prospectivity in the area. The programme comprises data covering more than 380 Outer Continental Shelf (OCS) blocks (~8,860 km2) from orthogonal 3D WAZ programmes previously acquired by TGS using WesternGeco Q-Marine and CGG StagSeis seismic systems between 2010 and 2015. Full product delivery of Declaration Refocus is expected at the end of 2020, which will solidify TGS’ core position in the US Gulf of Mexico.
Kristian Johansen, CEO of TGS, said:
“We are extremely pleased to begin the
next phase of imaging over the data rich Declaration survey. By applying our most advanced imaging techniques to this highly- successful region TGS will further illuminate key subsurface structures and continue to provide the industry with unprecedented insight and continuous coverage across this prolific basin. Combined with our vast library of well information and our trusted imaging solutions, we continue to provide customers with the most comprehensive range of subsurface data in the Gulf of Mexico.”
The new imaging project will process
data from the prolific Mississippi Canyon, Viosca Knoll and De Soto Canyon areas using the latest imaging technologies to provide a significant uplift in data quality. Particular attention will be given to increasing frequency content and resolution throughout the entire data section with additional focus on the Norphlet formations. The imaging process will also provide enhanced velocity and salt models. The Declaration area is one of the most active for E&P companies in the U.S. Gulf of Mexico and will benefit from two licensing rounds every year under the BOEM 2017-2022 Five-Year Program.
This project is supported by industry funding.
TGS, December 02, 2019
Worley enters enabling agreement with ExxonMobil
ExxonMobil Global Services Company has entered into an enabling agreement with Worley relating to ExxonMobil’s refining and chemicals operations sites in Texas and Louisiana.
This will allow ExxonMobil companies to contract with Worley to continue to provide services to ExxonMobil’s Texas and Louisiana sites in the United States. Worley provides services for general mechanical, small?cap construction, maintenance and turnarounds support at four locations in Texas and Louisiana, as well as packing, shipping and rail car loading and unloading at another two locations in Texas and Louisiana.
“We are pleased that ExxonMobil has chosen to enter into this agreement that will enable them to engage our continued support for their refining and chemicals operations in the United States,” said Andrew Wood, chief executive officer of Worley.
WORLEY, November 27, 2019
MOVES
McDermott to access
$350mn Tranche
B financing under
superpriority senior
secured credit facility
McDermott International announced
today that it has been granted access to the second tranche (Tranche B) of the $1.7bn superpriority senior secured credit facility announced on October 21, 2019. Tranche
B provides McDermott with a $250mn
Term Loan Facility and a $100mn Letter
of Credit Facility. The company expects to utilise the amounts available under Tranche B to continue financing working capital and support the issuance of required performance guarantees on new projects.
McDermott also announced that it has entered into a forbearance agreement with holders of over 35 percent of McDermott’s 10.625 percent senior notes due 2024 (the “2024 Notes”). Under the terms of the forbearance agreement, the applicable holders of the 2024 Notes have agreed to forbear from exercising any rights related to the interest payment due on November 1, 2019, subject to certain conditions. The forbearance period
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Week 48 04•December•2019