PGS has been awarded a significant 4D acquisition contract by Exxon Mobil for work offshore Guyana, the company said on June 28. A Titan class vessel is scheduled to mobilize for the project in fourth-quarter 2021 and acquisition is planned to be completed in first-quarter 2022.
“We acquired the 4D baseline of this area and consider it strategically important for us to be awarded a repeat survey for parts of the initial program. We are very pleased with the recognition of our Ramform acquisition platform and superior multi-sensor GeoStreamer technology, which are well suited for high-quality 4D acquisition programs. The contract adds further visibility to our order book for the coming winter season,” Rune Olav Pedersen, president and CEO of PGS, said.
Here’s how simultaneous fracturing, or “simul-frac,” completion designs enabled a shale operator in the Permian Basin to improve pad efficiency in addition to setting a record for lateral feet per day and stages completed.
A pilot project in a major shale play represents one of the first attempts to measure how multilateral wells could deliver cost efficiencies in unconventional fields.
As production on unconventional wells declines, oil and gas operators are looking to revitalize assets through refracturing techniques rather than drill new wells.