Page 17 - NorthAmOil Week 38

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ION commercialises Gemini

extended frequency source

technology

ION Geophysical today announced the
commercialisation of its proprietary Gemini™
extended frequency source technology
following a successful survey deployment in
the Gulf of Mexico.
Developed with support from an E&P
operator, the new source technology addresses
industry demand for increased geophysical
fidelity in complex geologies while satisfying
both improved operational and environmental
performance. Gemini is flexible across both
seabed and towed streamer data acquisition
platforms and is immediately available as
oil industry, but for the state as a whole, as SERVICES a plug-in component to existing source
more than 1000 jobs will be created,” said infrastructure.
Todd Edwards, President of Max Midstream. Cycle Energy Services Even in the current market, some of
“At a time when the oil and gas market is the most attractive E&P investment areas
down, this project and partnership reflects receives CAD1.1mn in for appraisal, development and near-field
proof that Texas is bouncing back and will exploration are amidst the world’s most
remain resilient in being the world’s leader in government contracts complex geological settings where more
oil production.” accurate imaging is essential for cost effective
Specifically, Edwards noted that the Impact Cycle Energy Services, a wholly owned oil and gas extraction.
Data Source consultants have performed a subsidiary of Cycle Energy Industries, Gemini uniquely provides a broad
comprehensive economic impact study and announced today it has received contracts source spectrum significantly richer in low
found the project will create 474 direct new from the government of Alberta totalling frequencies with a considerably reduced
jobs and another 598 construction related CAD1.1mn under the Alberta government environmental impact. Low frequencies
jobs over the next ten years. These new jobs Site Rehabilitation Program (SRP) which support more accurate geological models and
will span across the state, as there will be work is administered by Alberta’s Department of imaging by driving improved performance
building the pipeline all throughout parts of Energy. The programme provides funding and automation of Full Waveform Inversion
Texas. During this process, Max Midstream in the form of grant payments to the oil workflows.
will be investing up to $1bn into the overall field services sector where Cycle Energy “This product is designed for a market
project. Services is a trusted government supplier for where significant capex is still flowing, and
The key to exporting Texas oil is abandon and/or reclaim upstream oil and gas where our customers need to de-risk decisions
transporting the commodity at an economic infrastructure. innovatively and cost-effectively,” said Ken
price from the sources to the ports, either “These government contracts we received Williamson, Executive Vice President and
through Houston or Corpus Christi ports, focusing on reclamation and abandonment Chief Operating Officer of ION’s E&P
which are typically at or near full capacity work on oil and gas sites in Alberta Technology and Services group. “We have
with congestion. This project represents a demonstrate the high-end quality resources been delighted with E&P customer support
game-changer, as it will open a third option— Cycle Energy Services provides in this sector,” during Gemini’s development and their
the Port. Currently, Max Midstream has said Michael McLaren, CEO of Cycle Energy advocacy now for rapid industry adoption
agreements for three pipeline interconnects Industries. “We have a clear advantage over to address challenging prospects in their
– one with Kinder Morgan Crude and our competition by providing services that are portfolios.
Condensate, one to the Gray Oak, and one just too costly and not financially viable for This important ingredient to enhancing
to the Victoria Express. Max Midstream workovers such as this. Our cost effectiveness, subsurface knowledge differentiates ION as
currently operates the Seahawk pipeline that quality of work and years of experience have we expand into the larger 3D multi-client
connects the Kinder Morgan Crude and allowed us to be recognised as a trusted new acquisition market while maintaining
Condensate Interconnect in Edna, Texas government supplier. We are excited to take our asset light approach. Our patent-
to its Seahawk terminal at the Port. Future on these projects and look forward to the pending design has been approved by the
expansion with new pipeline connections possibility of more to come.” environmental permitting authorities in the
with Gray Oak and Victoria Express to The objectives of the Site Rehabilitation US and the UK, and based on these approvals,
Max Midstream’s Edna terminal, will allow Program are to increase employment in this we expect permit timing in other jurisdictions
Permian and Eagle Ford basin crudes to sector while decreasing the environmental to be equivalent to that of a conventional
export via the port as well. liability associated with oil and gas source array.”
MAX MIDSTREAM, September 23, 2020 development. ION GEOPHYSICAL, September 23, 2020
CYCLE ENERGY SERVICES, September 22, 2020

Week 38 24•September•2020 www. NEWSBASE .com P17