SAExploration Holdings Inc. has successfully completed the largest shallow water ocean-bottom marine project in the company’s history on June 11.
Contracted to SAExploration by a major national oil company, the project, located in the Arabian Sea off the coast of India, utilized over 20 vessels, which included three ocean-bottom node deployment vessels and two seismic source vessels operating in dual source/simultaneous source mode. A total of 5,400 ocean-bottom nodes and in excess of 1,300 km (807 miles) of rope were deployed on the project to acquire approximately 1,200 sq km (463 sq miles) of full fold seismic data.
“We continue to champion the broader acceptance and cost-effective application of ocean-bottom nodal recording technology and we look forward to offering our technical expertise and enhanced experience within this growing market to other customers in the future,” Jeff Hastings, chairman and CEO, said.
David Baggett, founder and managing partner of Opportune, says oil and gas companies are focused on short-term survival and lowering costs, which can already be seen by massive capex cuts among producers and the historic plunge in rig counts.
Houston-based WaterBridge Resources agreed in late February to acquire Centennial Resource Development’s Permian water assets in a $225 million transaction that was expected to close at the end of the first quarter.
Seth Urruty, COO of Oklahoma-based independent Camino Natural Resources, sat down with Jessica Morales to discuss staying attractive to investors plus utilizing technology.