Stale Thoughts and Broken Links

Old entries from my weblog on geophysics and the energy industry.


Houston Chronicle: Five questions with Klaus Lackner. Geophysicist says it's time to get real about solutions to world energy needs.

"If we had today's state-of-the-art agriculture and water technology throughout the world, I think we could say the world would have enough water and enough food. But if you try to give 10 billion people in the future the same amount of energy we have in the United States, the state of the art is not sufficient."

O&GJ: Firm shoots seismic survey off Seychelles.

"PetroQuest International has acquired 2,500 line-km of seismic data off Seychelles in the East Africa island nation's first seismic work in 14 years."

Intelligence Press: Industry Dubs MMS 5-Year Leasing Program 'Too Conservative'.

My West Texas: Dawson Geophysical reports record year.

"The 54-year-old company reported revenues of $168.5 million for its fiscal year, up 44 percent from $116.66 million in fiscal 2005."


Press Release: Veritas DGC Announces Conclusion of CFIUS Review.

"Veritas DGC Inc. said Monday that the Committee on Foreign Investment in the United States (CFIUS) has concluded its review relating to the previously announced merger agreement whereby Compagnie Generale de Geophysique will acquire Veritas."

O&GJ: Republican group opposes broad OCS bill.

"Two of HR 4761's main sponsors defended their measure, which would provide a way for coastal states beyond the Gulf of Mexico to share in future OCS revenues because it would open more areas for natural gas development."

Financial Times: Nato fears Russian plans for 'gas Opec'.

"A confidential study by Nato economics experts, sent to the ambassadors of its 26 member states last week, warned that Russia may be seeking to build a gas cartel including Algeria, Qatar, Libya, the countries of Central Asia and perhaps Iran."

Dow Jones Newswires: Saudi Sees 20% Growth in Gas Reserves Over 10 Years.

Press Release: Tekoil Gets Go-Ahead to Expand Newfoundland Seismic.

"Tekoil & Gas Corp. said that its application for a geographic expansion of its original 3D seismic survey program around the Port au Port Peninsula and Port au Port Bay in western Newfoundland, has been increased from approximately 240 sq km to approximately 500 sq km and released from further environmental assessment...."


Houston Chronicle: Analysts dispute theories of oil production drop.

"Instead, [Cambridge Energy Research Associates] forecasts that global production will rise more than 50 percent to 130 million barrels a day by 2030, and then will eventually follow an ‘undulating plateau’ before starting a slow decline around 2050."

Marta Steeman, Secrecy deal 'won't deter bids'.

"Crown Minerals is adamant bidders will still be drawn to the southern oil and gas hunt in the Great South Basin despite the world's largest oil company keeping secret valuable seismic data."

Manawatu Standard: Compromise over basin seismic data.

"The basin, which is one of the Government's great oil and gas exploration hopes, was surveyed by Fugro in early 2004 on behalf of two then-permit holders who did not pay for the data. That information was later sold to ExxonMobil.

"Queries from the Crown as to whether it was legally entitled to a copy led to legal proceedings, but, under the settlement, the oil company has agreed to provide the information on the condition that it would remain confidential if ExxonMobil was awarded a permit."


NYT: Bill Allowing More Drilling Along Coasts Appears Dead.

"... Tuesdayıs Democratic victory in midterm elections has changed the legislative landscape, obliterating the chances that anything close to the aggressive drilling bill passed by the House of Representatives will be enacted for years to come."

O&GJ: IEA -- Oil to be fuel largest used through 2030.

"... oil will remain the largest single fuel in the global energy mix, even if its share in overall energy supplies were to fall to 33% from today's 35%." ...

"However gas demand grows faster than coal, which sees the biggest fossil fuel demand increase in absolute terms, but it does not overtake [coal] before 2030."

Houston Chronicle: Anadarko continues to sell its assets.

"The Woodlands-based company has agreed to sell its Genghis Khan discovery, located 150 miles south of the Louisiana coast in the Gulf of Mexico, to Melbourne, Australia-based BHP Billiton and its partners for $1.35 billion."


An evergreen piece, nothing new in this one --

NYT: Drilling Deep in the Gulf of Mexico.

"Aboard the Western Neptune, Gulf of Mexico -- Every 17 seconds, a small armada of ships trawling 130 miles from the Louisiana coast fire powerful air guns toward the bottom of the sea in a hunt for the next big oil discovery."


AP: Input/Output Third Quarter Profit Rises.

"Input/Output Inc., provider of seismic products and services to the oil and natural gas industry, on Wednesday said third-quarter earnings rose 5 percent, mostly because of gains from its land imaging systems."

Houston Business Journal: Input/Output shares plummet after earnings miss estimates.

Houston Business Journal: Input/Output unit completes seismic library for offshore India.

Norfolk Eastern Daily Press, UK: Freed oil worker reunited with family.

"Mr Maddieson and an American colleague, Jim Brazel, had been carrying out seismic surveys from the HM Commander when they were by abducted by a group of armed men in speedboats, shortly after midnight last Thursday.

"They were released to the Nigerian authorities on Tuesday morning."

World Oil: Marine mammals -- more protected than humans?

"Despite the finding two years ago by MMS, that there was ‘no significant impact,’ NMFS [the US National Marine Fisheries Service] has proceeded to try to find something, anything, that would justify even further restrictions on seismic operations in US waters."

Houston Chronicle: Road may be rough for oil industry.

"Individuals and political action committees tied to the oil and gas industry funneled 83 percent of their campaign contributions to Republicans in the current election cycle -- more than $11.8 million as of Oct. 10, according to the Center for Responsive Politics."


WSJ (subscription): Why Some Think Repsol Stock May Be Too Rich.

"[W]hy has Repsol's stock risen 16% in the past eight weeks?" ...

"In the past few months, companies such as BP PLC, Royal Dutch Shell PLC and Italy's ENI SpA all have had to issue public denials that they were looking at Repsol, after a surge of market speculation."

Press Release: Building Growth in the US Gulf of Mexico.

"Statoil and Anadarko Petroleum have signed an agreement whereby Statoil will acquire two of Anadarko's US Gulf of Mexico (GoM) discoveries and one prospect. Statoil will pay Anadarko US $901 million."


Aftenposten: PGS employees kidnapped.

"A group of armed men kidnapped the pair late Wednesday night, the latest in long series of similar attacks that have reduced Nigerian oil production by 25 percent."

Reuters: Briton, American kidnapped from oil ship in Nigeria.

"The gunmen came in six boats in the early hours of Tuesday morning and took only the two men, leaving other members of the ship's crew unharmed."

Houston Chronicle: Seitel takes buyout offer.

"Seismic-data firm Seitel accepted a $540 million buyout offer from its largest shareholder, ValueAct Capital, but industry analysts say Wall Street had hoped for a higher price for the Houston company."

Ludington Daily News: Explosives stolen from Oceana seismic testing site.

"Officials from the Bay Geophysical out of Traverse City buried the eight 150-grain Pentolight booster charges, nine cap detonators and 10 feet of wire, but found someone ‘unburied them’ around 4 p.m. Monday...."

Associated Press: Police to seek charges against 2 men in theft of explosives.

"Authorities say they will seek charges against two men after they turned over explosives stolen from a west Michigan job site to harvest fish."

MarketWire: 4D Seismic (FDSM) to Launch Offshore Division.

PR Newswire: Geokinetics Inc. Announces Reverse Stock Split.

Walter Kessinger

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