PGS has successfully completed the acquisition of its East Shetland Basin 2020 survey and the first results will be available in August, the company said on May 27. The Ramform Tethys is now heading north to the Barents Sea.
PGS and the survey prefunder are very pleased with the performance on the East Shetlands Basin project. Despite the ongoing challenges posed by the Covid-19 pandemic, crew changes were carried out safely and efficiently.
The seismic data quality is excellent and the coverage is good, PGS said in a press release. Both the exclusion zones of the Western Isles FPSO and the Tern platform led to expected coverage holes that will be filled with vintage data to deliver full coverage within the entire survey area.
The seismic data is being processed in PGS’ Weybridge imaging center and early results will be available in August.
The Ramform Tethys is now in transit to the Barents Sea and will acquire another MultiClient survey, extending the company’s coverage in the Hammerfest basin later in the season.
Despite this week’s decline, the total rig count was up 237, or 94%, over this time last year, according to Baker Hughes data going back to 1940.
A new Walker Ridge discovery in the U.S. Gulf by Chevron plus two more Wolfcamp Shale producers from CrownQuest’s Avogadro prospect in the Permian Basin top this week’s oil and gas drilling activity highlights from around the world.
As public E&Ps stay disciplined and privates take an ‘aggressive approach’ across the U.S. shale patch, analysts see continued efficiency gains and rising costs from oilfield service companies.