WHL Engages CGG for La Bella Seismic Survey in Otway Basin
Australian oil and gas exploration firm WHL Energy Limited (WHL Energy or the Company) announced Tuesday that it has signed a contract with CGG Services SA for the acquisition of the La Bella 3D seismic survey off Victoria, Australia. The survey will utilize CGGs’ Viking II vessel to acquire data with state-of-the-art Broadseis broad band seismic acquisition technology.
The survey will commence in mid-November and take approximately one month. An initial processed data volume is expected to be available in mid-February 2014, with the final processed volume targeted for completion in May 2014. The survey area is located approximately 21.75 miles (35 kilometers) off the coast of Port Campbell in the Otway Basin, offshore Victoria.
WHL Energy will operate the survey on behalf of the VIC/P67 Joint Venture which consists of WHL Energy 40 percent and AWE 60 percent. AWE will fund 75 percent the costs of the acquisition and processing for the 3D seismic survey up to a cost of $12m ($9m being AWE’s share) to earn 60 percent equity, after which each Joint Venture partner will pay its equity share. Tap Oil will pay for 20 percent of the cost of the La Bella 3D seismic survey, up to a total of $2.95m to have the option to acquire 10 percent equity in Vic/P67.
Managing Director David Rowbottam said: “WHL Energy is pleased to have finalized the contracting of a seismic vessel for the La Bella 3D seismic survey and look forward to receiving the data. The data from the 3D survey will assist with confirmation and definition of the La Bella gas and condensate resource and progress the development planning and commercialization of the resource.”
“The survey will also further define several exploration targets in the La Bella area that will be considered for drilling in early 2015. The acquisition of this seismic survey is an important milestone in the La Bella project timeline as the Company and Joint Venture continues to work towards bringing the project to commercial fruition.”
The 306.2 foot (93.35 meter) long Viking II is a state-of-the-art, multi-streamer, multi-source specialist 3D seismic acquisition vessel equipped with advanced integrated geophysical and navigation data acquisition systems, on-board data processing and full quality assurance capabilities.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Falcon Oil Declares Commercial Flow Test Results for Shenandoah Well
- UK Oil Regulator Publishes New Emissions Reduction Plan
- Japan Failing to Meet Corporate Demand for Clean Power: Amazon
- PetroChina Posts Higher Annual Profit on Higher Production
- McDermott Settles Reficar Dispute
- Macquarie Strategists Expect Brent Oil Price to Grind Higher
- US, SKorea Launch Task Force to Stop Illicit Refined Oil Flows into NKorea
- Russian Navy Enters Warship-Crowded Red Sea Amid Houthi Attacks
- Pennsylvania County Joins List of Local Govts Suing Big Oil over Climate
- USA Commercial Crude Oil Inventories Increase
- Equinor Makes Discovery in North Sea
- Standard Chartered Reiterates $94 Brent Call
- India Halts Russia Oil Supplies From Sanctioned Tanker Giant
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Centcom, Dryad Outline Recent Moves Around Red Sea Region
- PetroChina Set to Receive Venezuelan Oil
- Czech Conglomerate to Buy Major Stake in Gasnet for $917MM
- US DOE Offers $44MM in Funding to Boost Clean Power Distribution
- Oil Settles Lower as Stronger Dollar Offsets Tighter Market
- UK Grid Operator Receives Aid to Advance Rural Decarbonization
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension
- Equinor Makes Discovery in North Sea
- Standard Chartered Reiterates $94 Brent Call