3D Em News

Electromagnetic Geoservices ASA (EMGS) has entered into a data licensing agreement with an oil company for the provision of 3D EM data from the multi-client data library over the Norwegian Sea and the Barents Sea. The company did not reveal the name of the client, however, it stated that the deal is worth a total of USD 4.0 million.

Electromagnetic Geoservices ASA (EMGS) announces that the Company has entered into a data licensing agreement with an international oil company for the provision of 3D EM data from the multi-client data library over the Daybreak project located in the western US Gulf of Mexico worth a total of USD 1.5 million. The Daybreak data set is bordering Mexico's Perdido offshore oil province, and we find it encouraging that sales also are emerging from cross boarder exploration strategies in this region, say's Juan M. Santana, EMGS President - NSA.  This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Electromagnetic Geoservices (EMGS) reported multi-client sales from Barents Sea and Norwegian Sea   Marine controlled-source electromagnetic (CSEM) data provider EMGS informs it has entered into two new data licensing agreements with two oil companies for the provision of 3D EM data from EMGS's multi-client data library over the Barents Sea and the Norwegian Sea worth $1.6 million.   The multi-client revenues, which are a combination of prefunding and late sales, will be booked in the third quarter of 2015.

Electromagnetic Geoservices ASA (EMGS) has received a letter of award (LOA) for a contract worth approximately USD 4.2 million from an oil company for 3D EM data acquisition over their operated area in Malaysia. The two parties have entered into a two-year contract, of which this LOA constitutes the commitment for the first and initial phase. The parties have also designed a survey for an optional second phase in 2016. "We are very pleased to announce this letter of award with a repeat customer in Malaysia. It is also important to us that it is a two-year agreement, with expectations for more work next year," says CEO of EMGS, Bjarte Bruheim. The survey will be done using the vessel BOA Thalassa which is expected to commence acquisition as soon as possible.

EMGS has received permits from Mexico's Comisión Nacional de Hidrocarburos (CNH) authorizing the acquisition of up to approximately 88,000 square km 3D EM multi-client data in the Salina de Itsmo Basin. EMGS will prioritize acquiring EM data for the future bid rounds in Mexico as outlined in the ''Plan Quinquenal de Licitaciones para la Exploración y Extracción de Hidrocarburos 2015-2019'' announced by theSecretaría de Energía (SENER) in early July. "We are pleased and encouraged by the recently announced 5 year plan for future licensing rounds offshore Mexico. It pairs well with our plans in Mexico and the received CNH permits and enables us to now actively seek funding of our projects", says Juan M. Santana, President EMGS North and South America.

Electromagnetic Geoservices ASA (EMGS) has received a letter from PEMEX to return for 3D EM acquisition in Mexico. The vessel BOA Galatea is expected to re-start the work for PEMEX. The order is confirming a continuation of the existing contract for PEMEX, announced on 27 June 2013.   "We are delighted to start working for PEMEX again in this exciting region," said Bjarte Bruheim, CEO of EMGS.   The duration of the acquisition is not settled. Further information will be announced in due course.

Electromagnetic Geoservices ASA (EMGS) releases information on vessel activity and utilisation 4-5 working days after the close of each quarter. The Company defines "vessel utilisation" as the percentage of the vessel charter period spent on contracted or multi-client data acquisition. Vessel utilisation for the first quarter 2015 came in at 76% compared with 66% for the first quarter 2014. In the first quarter of 2015, the Company's vessels were allocated 24% to contract and 52% to multi-client programmes. For the corresponding quarter in 2014, the allocation was 56% and 10% respectively. EMGS recorded 12 vessel months this quarter, compared with 10.7 in the first quarter of 2014. The BOA Thalassa has been in Asia for the full quarter positioned for expected contract work in the region.

Electromagnetic Geoservices ASA (EMGS) has entered into a data licensing agreement with an international oil company worth USD 1.8 million for the provision of 3D EM data from a portion of the EMGS' multi-client data library in Foz do Amazonas in Brazil.   "This sale is an indication of the sales potential of our multi-client data in this basin. We see the equatorial margin as an exciting and large region for the EM technology going forward," says Roar Bekker, CEO of EMGS.   The data will be delivered in December 2014 and EMGS will therefore book the sales in the fourth quarter 2014.

Electromagnetic Geoservices ASA (EMGS) has entered into a data licensing agreement with an international oil company worth USD 8 million for the provision of 3D EM data from EMGS's multi-client data library in the Barents Sea. "This sale confirms the increased recognition of the value of EMGS' EM technology as an important exploration tool. The addition of a new supermajor to our expanding customer base proves the breakthrough our technology has had in Norway this year," says Roar Bekker, CEO of EMGS. Of the total sale, data worth USD 4.8 million will be delivered in Q4 2014, of which EMGS will book USD 4.5 million in the quarter after partner's share of the revenues. Data for the remaining USD 3.2 million of the agreement will be booked in 1H 2015.

Electromagnetic Geoservices ASA (EMGS) has received a contract worth USD 1.5 million for a research project in Brazil. The project will use 3D EM data to map shallow gas hydrates in the Pelotas Basin. The project is a collaboration between the Pontifical Catholic University (PUCRS) of Rio Grande do Sul and Petrobras' Research and Development Center called CENPES. EMGS will support each stage in the workflow, from survey design and data acquisition to processing and interpretation. The company's services will enable the integration of EM data with seismic and other geophysical and geological information to give explorationists a clearer and more complete understanding of the subsurface. This improves exploration efficiency and reduces risks and the finding costs.

Electromagnetic Geoservices ASA (EMGS) has received a letter of intent worth USD 7.0 million from an oil company for 3D EM data acquisition in Thailand and Myanmar.   "This is the first time we operate for this customer and also the first time we operate in Thailand and we are of course pleased to demonstrate the value of our EM technology to this company," says Giles Denby, President Eastern Hemisphere of EMGS.   The marine EM market leader who uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbons informed that the survey will be done using the vessel BOA Thalassa and is expected to commence directly after the ongoing survey in Malaysia is completed.

Electromagnetic Geoservices ASA (EMGS) has received a letter of intent worth USD 6.8 million from an International Oil Company for 3D EM data acquisition in Malaysia. EMGS did not disclose the name of the contractor. "We are pleased to announce the first of several new projects in Asia. Due to increased demand for our EM services among new and existing customers we anticipate to keep one vessel operating in this region for most of or all of 2015," says CEO of EMGS, Roar Bekker. The survey will be done using the vessel BOA Thalassa, which is MT 6007 design and one of the world’s first custom built ships for seabed logging operations to detect hydrocarbons beneath the seabed.

Electromagnetic Geoservices ASA (EMGS) has signed a data licensing agreement with a customer worth USD 3.5 million for the provision of 3D EM data from EMGS's multi-client data library in the Barents Sea.   "It satisfying to note that our multi-client library continue to provide value for new and existing clients in the Barents Sea. An increased acceptance of EM as a value adding exploration tool in the region, and our vast coverage coupled with customer's success, bode well for the future" says CEO Roar Bekker.   EMGS' multi-client data library in the Barents Sea now covers 42,000 km2, in addition to approximately 10,000 km2 in the Norwegian Sea and 1,400 km2 in the North Sea.

Electromagnetic Geoservices ASA (EMGS) announced an agreement from Statoil Petroleum AS for the Norwegian Sea. EMGS has now received a new contract from another oil and gas company worth USD 1.0 million for acquisition of 3D EM data in the nearby area.   The Company will be using the vessel Atlantic Guardian. Acquisition is scheduled to be completed early in October, after which the vessel is scheduled to go directly into a 6 week yard stay. EMGS considered the marine EM market leader has not divulged the name of the company. www.emgs.com

Electromagnetic Geoservices ASA (EMGS) has received a contract worth USD 5.5 million from Petrobras for 3D EM data acquisition in Brazil.   "With this contract, we are back in a strategically important region for us. We look forward to working with Petrobras again and expect to see more work in this region going forward," says CEO of EMGS, Roar Bekker.   All necessary permits are in place and the start-up of acquisition will be as soon as practically possible. The survey will be done using the vessel EM Leader, which is currently in St. Thomas. The vessel will head towards Brazil immediately. The transfer is expected to take 5-7 days.

Electromagnetic Geoservices ASA (EMGS) has received a supplement agreement from Statoil Petroleum AS worth approximately USD 1.0 million for multi-client 3D EM data acquisition in the Norwegian Sea.   The Company expects to commence the survey shortly, after completing the survey for Statoil announced on 2 June 2014 in the same area, using the vessel Atlantic Guardian.

Electromagnetic Geoservices ASA's (EMGS) reported revenues of USD 42.5 million in the second quarter 2014, down from USD 61.3 million in the first quarter this year and from USD 44.4 million in the corresponding quarter last year. Contract sales totaled USD 35.5 million, while multi-client sales were at USD 7.0 million this quarter. The Company had an EBITDA of USD 10.9 million and a net loss of USD 2.5 million. Revenues for the first half year 2014 came in at USD 103.8 million, compared with USD 76.1 million for the corresponding period last year. The increase in revenues is related to more contract work this year. The Company had two vessels operating in Norway in the quarter…

From EMGS's website, you now have interactive access to EMGS’s multi-client library. Visit our interactive multi-client maps. Zoom in to the area of interest, see what data is available, request more information about the survey, or download the shape file to open in a GIS application to interact with your existing acreage and data. EMGS has extensive multi-client library, which contains exploration data from the Gulf of Mexico, offshore Brazil, the deep waters of India, Fylla East in Greenland, West of Shetland, and East Canada. For the Barents Sea alone, we offer a library covering over 35,000 kmof data. This data is ready for the immediate incorporation into your workflow.

Electromagnetic Geoservices ASA (EMGS)  the marine EM market leader, who uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbonshas, received a contract worth USD 2.7 million from OMV (Norge) AS and its partners in PL537 for 3D EM data acquisition in the Barents Sea.   The survey will commence in July using the vessel Atlantic Guardian. The company's services enable the integration of EM data with seismic and other geophysical and geological information to give explorationists a clearer and more complete understanding of the subsurface. This improves exploration efficiency and reduces risks and the finding costs per barrel.

Electromagnetic Geoservices ASA (EMGS) releases information on vessel activity and utilisation 4-5 working days after the close of each quarter. The Company defines "vessel utilisation" as the percentage of the vessel charter period spent on contracted or multi-client data acquisition. Vessel utilisation for the second quarter 2014 came in at 75% compared with 78% for the second quarter 2013. In the second quarter this year, the Company's vessels were allocated 38% to contract and 37% tomulti-client programmes, whereas the allocation was 32% and 46% respectively in the corresponding quarter last year. EMGS recorded 12.0 vessel months this quarter, compared with 11.5 in the second quarter of 2013.

Electromagnetic Geoservices ASA (EMGS) has received a signed contract from Tullow Oil Norge AS worth USD 7.7 million for 3D EM data acquisition in the northern part of the North Sea. "We are delighted to work with Tullow again, and also, encouraged to see contract coverage in the Norwegian waters continue to develop favorably. Adding a multitude of contracts to our multi-client activities this year should result in the most active year in Norway to date," said Roar Bekker, CEO of EMGS. The survey is expected to commence in August, using the vessel BOA Thalassa. This comes within a week of EMGS having received a signed contract from a customer worth USD 2.3 million (NOK 13.5 million) for 3D EM data acquisition in the Norwegian Sea.

Electromagnetic Geoservices ASA (EMGS), the marine EM market leader, has received a signed contract from a customer worth USD 2.3 million (NOK 13.5 million) for 3D EM data acquisition in the Norwegian Sea. The survey is expected to commence in June, using the vessel BOA Thalassa. According to Svein Knudsen, EMGS chief financial officer: EMGS, uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbons. EMGS supports each stage in the workflow, from survey design and data acquisition to processing and interpretation. The company's services enable the integration of EM data with seismic and other geophysical and geological information to give explorationists a clearer and more complete understanding of the subsurface.

Electromagnetic Geoservices ASA (EMGS), electromagnetic (EM) technology market leader, has received a Letter of Award from Statoil Petroleum AS worth USD 5.3 million for 3D EM data acquisition in the Norwegian Sea. EMGS, uses its proprietary EM technology to support oil and gas companies in their search for offshore hydrocarbons. EMGS supports each stage in the workflow, from survey design and data acquisition to processing and interpretation. The company's services enable the integration of EM data with seismic and other geophysical and geological information to give explorationists a clearer and more complete understanding of the subsurface.This improves exploration efficiency and reduces risks and the finding costs per barrel.