Gulf of Mexico Operators Adopting Segmented, Portfolio Analysis to Compete with Price-Cost Squeeze
Most companies operating the 7,500 active hydrocarbon leases in the Gulf of Mexico are adopting new criteria for evaluating their Gulf prospects to prepare for a potentially extended "price-cost squeeze" and a possible shakeout among lease interest holders, indicates a review by Ziff Energy Group.
An informal Ziff survey, plus the results of our recent benchmarking studies in the Outer Continental Self (OCS) and Deepwater areas, indicate a large majority of Gulf operators believe they need to set new criteria to make the right capital spending, exploration, drilling, purchase and sale decisions in a very challenging, low price environment.
The North American Gas Strategies Conference
"New Competition for Expanding Markets"
April 19/20, 1999
The Four Seasons
Veritas DGC Inc. Announces Senior Management Appointments
Dave Robson, Chairman and CEO of Veritas DGC lnc., announced today that Steve Ludlow has been promoted to Vice Chairman and Tim Wells to President and Chief Operating Officer.
Robson said the new management structure is a key step in accomplishing a long-range growth strategy that addresses a new competitive environment caused by changing industry fundamentals and marketplace demands. "This new structure will also enable us to focus even more on the critical external issues that drive our business and determine our success," said Robson. "In Steve and Tim, we have proven industry executives who will work closely with me in making and implementing decisions that will maximize our speed and flexibility in meeting the demands of the marketplace."
Veritas DGC Inc. Announces Management Appointments in Asia Pacific Region
Veritas DGC Inc. has promoted Cameron Astill to the position of President, Veritas DGC Asia Pacific and Peter Whiting to Regional Processing Manager, according to Tim Wells, President and COO. Both Astill and Whiting are based in Singapore.
'These appointments will continue the success and strong growth we've experienced over the last few years," said Wells, "Cameron and Peter have been key members of Asia Pacific's management team, and their promotions will ensure continuity in operations."
Professional Development Courses Available at Annual Convention
Alberta society of Engineering Technologists (ASET) is offering a selection of top-quality professional development courses at its spring Annual Convention. This year's event is planned for April 28 through May 1 in Calgary with courses offered at the Best Western Hospitality Inn and at SAIT. For more information contact ASET.
Western Geophysical Signs Exclusive Contract with Petro Vietnam to Market Offshore Minh Hai Seismic Data
Western Geophysical has signed an exclusive contract with Petro Vietnam for the marketing of the offshore Minh Hai nonexclusive seismic data.
The new seismic data release now available to potential licensees exclusively from Western Geophysical includes over 6000 km of long-offset 2-D seismic data offshore Vietnam covering the South Nam Con Son Basin. Complementing the seismic dataset are gravity and magnetic surveys covering both the offshore South Narn Con Son and Mekong Delta basins. The datasets have been acquired and processed utilizing the latest technology to provide optimum data quality. With the addition of these data, Western Geophysical's multiclient data library now includes over 30,000 km of non-exclusive 2-D seismic data for offshore Vietnam. For further information, please contact your nearest Western Geophysical office of Petro Vietnam.
Dynamic Graphics Announces Bakersfield Office
Dynamic Graphics, lnc., the market leader in 3-D reservoir characterization and 3-D well-positioning software, announced today the opening of a Bakersfield Regional Office dedicated to serving customers in the "California Oil Patch." Mr. David Jefferis will head the office, which will offer technical consulting services, using Earth Vision software to clients mainly in Bakersfield, Los Angeles, Ventura, Santa Maria, and the surrounding areas.
"Our Earth Vision customers in Bakersfield and the surrounding areas have made a strong commitment to Earth Vision technology," says Mr. Jeffrey Schwalm, Director of the Western Region. "With a Regional Office we can provide local consulting resources for project start-up, problem solving, training, and even whole (turnkey) projects. We want to be there when our clients need us. "
Western Geophysical to Promote Yemeni Lease Blocks for Oil and Gas Exploration
Western Geophysical has Signed an agreement with the Yemeni Ministry of Oil and Mineral Resources to promote five onshore and two offshore open lease blocks.
"This agreement is a new step towards promoting areas of Yemen with hydrocarbon potential and to encourage international oil companies to invest in Yemen," said Dr. Rasheed S. Baraba, Deputy Minister of Oil and Energy for Yemen and Eng. Nabil S. Al-Cawsi, Deputy Chairman of the Petroleum Exploration and Production Board.
The agreement covers blocks 6, 7 and 8 in the Shabwa province, blocks 25, 26, and 27 in the Al-Hodidah province, and block 38 in Socotra. offshore Arabian Sea.
16th World Petroleum Congress Call for Papers and Posters
The schedule for the 16th World Petroleum Congress Program development has been finalized with the International WPC's Scientific Program Committee. The deadline for submissions to the Canadian Organizing Committee's Program Committee has been changed to March 31st, 1999.
Please contact Dr. Randy Gossen at (403) 234-6979 if you have any questions regarding the Program Topics, or direct general questions to Laurel McKay at the 16th WPC offices.
Veritas Awards Lee Hunt of Calahoo With Strategic Partnership Award
Veritas GeoServices Ltd., a Veritas DGC company, has awarded Lee Hunt, Chief Geophysicist of Calahoo Petroleum, with a Strategic Partnership award in recognition of his contribution to the advancement of on-line data management and archival services. The Calahoo business model is an effective and efficient method for managing seismic assets, and is used as an example of a completed project when demonstrating Veritas' data management services.