Pogo News

Marine navigation technology company C-MAP announced that Sean Fernback has been engaged as Chief Executive Officer of Digital Marine Solutions Holding AS and the C-MAP Group. Most recently, Fernback was CEO of the open platform locations company HERE, which he led for two years including managing its divestiture from parent company Nokia. Prior to that, Fernback led engineering and product development for the consumer division at TomTom. Fernback has a background in new technology innovation and has held several leadership positions in the field…

On 29 October 2015 the research icebreaker Polarstern will leave its homeport in Bremerhaven for Cape Town, South Africa, where it is expected to arrive on 1 December. It will take 32 students hailing from 19 countries on board, who will be introduced to the latest methods and instruments used in oceanography. Nine instructors from the Alfred Wegener Institute, Helmholtz Centre for Polar and Marine Research (AWI), the FU Berlin and Ireland’s Galway-Mayo Institute of Technology will teach the participants in the “floating summer school”. 470 applications from around the globe were submitted for the 32 places on the North South Atlantic Transect Training Programme (NoSoAT).

Pogo Producing Co. has entered into definitive agreement to acquire privately-held Latigo Petroleum, Inc. for $750m in cash, Trading Markets reported. The Houston, Texas-based company said the acquisition of Latigo and its assets in the Permian Basin and Texas Panhandle will increase Pogo's total proven oil and gas reserves by 13%, from 2,042 billion cubic feet of natural gas equivalent, or bcfe, to 2,317 bcfe. The company said it would finance the acquisition of Latigo, which was formed by private-equity firms Warburg Pincus LLC and JPMorgan Partners, with cash on hand, capacity under its existing revolving credit facility and opportunistic capital market transactions. The acquisition, which is subject to customary regulatory approvals, is expected to close during May of 2008.

PetroVietnam is to sign an oil exploration contract with US Pogo and Canada’s Keeper Resources on block 124 offshore of central Vietnam. Block 124 is located in Phu Khanh Basin covering a 6.007 sq.km area along the country’s central coastal line, 50km northeast of Nha Trang City. The exploration block was offered for international tender by PetroVietnam in October 2004. Under the seven-year-term contract, the foreign contractors committed to conduct 3D seismic exploration on an 850 sq.km area and drill two exploration wells in the first three years of exploration. PetroVietnam is entitled to 20 percent equity participation when oil or gas is discovered under the contract, in which US Pogo is the main operator.