Energy data provider TGS, in a joint venture with oilfield services company SLB, announced Feb. 5 the Engagement 5 ocean- bottom node (OBN) multiclient acquisition in the U.S. Gulf of Mexico.
Starting in the first quarter 2024, Engagement 5, the seventh program within the seismic JV, involves the acquisition of 157 Outer Continental Shelf blocks through a long offset, sparse OBN survey. The Engagement 5 dataset will use elastic full-waveform inversion and long offset data to provide leaseholders and regional explorers with “technically advanced” subsurface imaging, the companies stated.
The expansion of data coverage in the eastern region of Green Canyon will adjoin with prior phases, establishing a continuous coverage area of over 23,000 sq km, from the Mississippi Canyon to the Garden Banks licenses.
Initial data results will be available in the second half of 2024.
Recommended Reading
Kimmeridge Fast Forwards on SilverBow with Takeover Bid
2024-03-13 - Investment firm Kimmeridge Energy Management, which first asked for additional SilverBow Resources board seats, has followed up with a buyout offer. A deal would make a nearly 1 Bcfe/d Eagle Ford pureplay.
Laredo Oil Subsidiary, Erehwon Enter Into Drilling Agreement with Texakoma
2024-03-14 - The agreement with Lustre Oil and Erehwon Oil & Gas would allow Texakoma to participate in the development of 7,375 net acres of mineral rights in Valley County, Montana.
SLB’s ChampionX Acquisition Key to Production Recovery Market
2024-04-21 - During a quarterly earnings call, SLB CEO Olivier Le Peuch highlighted the production recovery market as a key part of the company’s growth strategy.
Oil and Gas Chain Reaction: E&P M&A Begets OFS Consolidation
2024-04-26 - Record-breaking E&P consolidation is rippling into oilfield services, with much more M&A on the way.
PrairieSky Adds $6.4MM in Mannville Royalty Interests, Reduces Debt
2024-04-23 - PrairieSky Royalty said the acquisition was funded with excess earnings from the CA$83 million (US$60.75 million) generated from operations.