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First Break July 2014

First Break July has a focus on passive seismic and shale. It starts off with EAGE News, Industry News and Crosstalk. There are two Technical Articles: How seismic anisotropy improves the reliability of exploration DHI (AVO) and Characterization of hitherto unseen reservoirs: a case study of lithology and fluid prediction using seismic QI.

This month’s Special Topic focuses on Passive Seismic.

EAGE Awards 2014 recognize professional excellence

Recognition of the exceptional contributions made by individual members to geoscience and its professional community is always an important feature of the EAGE Annual Meeting.As in the past, there were plenty of nominations and recommendations submitted leaving the Awards Committee and the Board with some difficult choices between deserving candidates. We congratulate all this year’s Award recipients who were honoured at the Awards Ceremony at EAGE Amsterdam ‘14.

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Crosstalk - Micro steps in a seismic revolution

By Andrew McBarnet

The emergence of passive seismic (microseismic) monitoring applications in the context of unconventional oil and gas production must count as one of the most significant geoscience innovations of the past decade and deserving of enormous credit to its pioneers. All this is reflected in the research and case studies now featured as an annual Special Topic in First Break.
Unfortunately, scientific interest in new technology and its possibilities, however impressive, does not necessarily guarantee widespread industry adoption and commercial success.

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Signs of recovery in the contract market are borne out by Q1 results

There is evidence that the impact of the slowdown in exploration spending is not as brutal as expected, as seismic service companies posted encouraging Q1 results. Share prices rose across the sector with international markets inter­preting results as signs that oil compa­nies are still committing to exploration despite cost cutting. TGS led the way with record late sales the headline of its encouraging first quarter results, which has helped it to maintain a healthy profit margin of 42%. Net late sales of $137.4 million compared to $126.5 million in Q1 2013 (a 9% increase), indicate more inter­est from oil companies than expected. Operating profits were $94 million (42% of net revenue) compared to $89 million (42% of net revenues in Q1 2013). Profits were $12 million better than analysts expected, and the company’s share price rose by 7% on the news.

New EAGE members

New Members

Aagaard, J.M. - Roxar AS - Norway       
Abdul Razak, A. - Petronas Carigali Sdn Bhd - Malaysia       
Abu, I. - Nigeria       
Abushaikha, A. - Qatar Petroleum - United Kingdom       
Adam, A.A. - Petrodar Operating Company - Sudan       
Adetola, B.A. - NNPC - Nigeria       
Afanasenkov, A.P. - VNIGNI - Russia       
Afanasyev, A. - Moscow State University - Russia       
Afione, G. - Schlumberger Argentina SA - Argentina       
Agarwal, A. - Indian School of Mines (ISM) - India       
Agbalaka, C. - ExxonMobil Upstream Research Company - United States       
Ahmed, R. - Swansea University - United Kingdom       
Akbar, B. - Kuwait Oil Company - Kuwait     

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