Hess Boosts Utica Position with $750MM Acquisition

- Hess Boosts Utica Position with $750MM Acquisition

Thursday, September 08, 2011
Hess Corp.

Hess has acquired Marquette Exploration LLC and other leases in Ohio's Utica Shale, boosting its acreage position by 85,000 net acres at a cost of approximately $750 million.

The leases, in which Hess will have a 100 percent working interest, are in Jefferson, Harrison and Belmont counties. Appraisal activities on this acreage are planned to commence in the fourth quarter. Together with the previously announced joint venture with CONSOL Energy, the transactions provide Hess with approximately 185,000 net acres in the Utica Shale play.

"With these transactions, we have built a strategic acreage position in the Utica Shale, allowing us to strengthen our portfolio of unconventional resources in high quality assets, leverage our operating expertise and create significant potential for future growth in reserves and production," said John Hess, Chairman and CEO of Hess Corporation.

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Reliance, BP Finalize $7.2B Acquisition

- Reliance, BP Finalize $7.2B Acquisition

Thursday, September 08, 2011
Reliance Industries Ltd.

Reliance Industries Limited (RIL) and BP announced the completion of BP's acquisition of a 30 percent stake in 21 oil and gas production sharing contracts (PSCs) that Reliance operates in India, including the producing KG D6 block.

This significant step will commence the planned alliance which will operate across the gas value chain in India, from exploration and production to distribution and marketing. The completion of the deal delivers one of the largest ever foreign direct investments into India.

The two companies will also form a 50:50 joint venture for the sourcing and marketing of gas in India which will also accelerate the creation of infrastructure for receiving, transporting and marketing natural gas.

Mukesh Ambani, Chairman and Managing Director, Reliance Industries, said, "The alliance with BP will boost our efforts to realize the true potential of India's hydrocarbon reserves. The globally renowned expertise of BP and the in-depth domestic experience of Reliance make for a formidable alliance which will deliver unparalleled value for the country in its pursuit of energy security."

"This is the beginning of what we expect to be a long and successful working partnership with Reliance, building on the strengths of each company," said Bob Dudley, BP group chief executive. "This major investment is directly aligned with our strategy of creating long-term
value by forming alliances with strong national partners, gaining material positions in significant hydrocarbon basins and increasing our exposure to growing energy markets."

BP will pay RIL an aggregate consideration of US $7.2 billion subject to completion adjustments for the interests to be acquired in the 21 production sharing contracts. Further performance payments of up to US $1.8 billion could be paid based on exploration success that results in development of commercial discoveries.

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Lufkin Industries Announced It Signed Agreement To Acquire All Assets Of Quinn's Oilfield Supply Ltd

- Lufkin Industries Announced It Signed Agreement To Acquire All Assets Of Quinn's Oilfield Supply Ltd



Sep 6, 2011

Lufkin Industries (NASDAQ:LUFK) announced it has signed an Asset Purchase Agreement to acquire substantially all of the assets of Quinn's Oilfield Supply Ltd., including certain affiliates, for about $303 million in cash subject to certain adjustments.

John F. Glick, President and Chief Executive Officer of Lufkin, stated, "The acquisition of Quinn's continues our strategy of expanding our product portfolio in artificial lift systems, while at the same time extending our sales and service network in the increasingly active oil provinces of the United States and Western Canada. The integration of Lufkin's surface beam pump unit with Quinn's downhole rod pump will enhance Lufkin's ability to package complementary products and allow us to better optimize the rod lift system to the benefit of our customers. Quinn's is well positioned to benefit from the large increase in unconventional oil plays as oil shale wells generally transition to artificial lift approximately 18 to 24 months after completion. Quinn's downhole rod pumps and PCPs are also a clear fit with our Automation strategy of integrating downhole devices and instrumentation to monitor and control production."

Lufkin Industries has a potential upside of 62.3% based on a current price of $58.83 and an average consensus analyst price target of $95.5.

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BHP Billiton Completes Petrohawk Acquisition

- BHP Billiton Completes Petrohawk Acquisition

Friday, August 26, 2011
BHP Billiton plc

BHP Billiton has completed its acquisition of Petrohawk through a short-form merger under Delaware law of its wholly owned subsidiary with and into Petrohawk, with Petrohawk being the surviving corporation as a wholly owned subsidiary of BHP Billiton. The merger was the final step of the acquisition process and follows the previously announced completion of the tender offer by BHP Billiton to acquire all outstanding shares of common stock of Petrohawk.

BHP Billiton Petroleum Chief Executive, J. Michael Yeager, said the Petrohawk acquisition adds high-quality growth to the company.

"With the completion of this transaction, BHP Billiton Petroleum is on track to deliver compound annual growth in production volumes of ten percent for the remainder of the decade. We are excited that Petrohawk's sizable U.S. workforce is joining our talented group of professionals and we are ready to grow this business over the long-term."

Petrohawk has requested the New York Stock Exchange to take the necessary steps with the U.S. Securities and Exchange Commission to delist Petrohawk's common stock from the NYSE.

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Ithaca Finalizes Acquisition of Cook Stake from Hess

- Ithaca Finalizes Acquisition of Cook Stake from Hess

Friday, August 26, 2011
Ithaca Energy Inc.

Ithaca announced that further to announcements on April 4, 2011 and May 16, 2011, the Company has completed the transaction to acquire a 28.46% non-operated interest in the Cook oil field ("Cook") from Hess Limited ("Hess"). At completion of the transaction, Ithaca paid an adjusted cash consideration of US $57 million and transferred to Hess a 10% interest in three Southern North Sea exploration blocks. The transaction has been funded from the Company's existing cash reserves.

At completion, Ithaca is also entitled to an oil inventory of approximately 185,000 barrels. This inventory is anticipated to be lifted and sold in Q4 2011. The adjusted consideration does not reflect this anticipated cash receipt.

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Magnum Hunter: Proposed Acquisition in Williston Basin Did Not Close

- Magnum Hunter: Proposed Acquisition in Williston Basin Did Not Close

Friday, August 19, 2011
Magnum Hunter Resources Corp.

Magnum Hunter announced that the previously announced proposed acquisition by its wholly owned subsidiary, Williston Hunter ND, LLC, of oil and gas properties in the Williston Basin in North Dakota from Eagle Operating, Inc. ("Eagle") did not close yesterday due to unresolved issues between the parties resulting from what Magnum Hunter considers to be Eagle's intentional and bad faith breach of its obligations under the Purchase and Sale Agreement ("PSA"). In the proposed acquisition, Magnum Hunter would have acquired from Eagle for total consideration of $57 million ($55 million in cash and $2 million in Magnum Hunter restricted common stock), the remaining approximate 48% working ownership interest in the Williston Basin properties owned by Eagle, subject to Eagle's retention of a variable overriding royalty interest not exceeding 2% on certain properties.

The acquisition would also have resulted in the settlement of two pending lawsuits between the Company and Eagle currently filed in the United States District Court for the District of North Dakota (Northwestern Division), which litigation is now expected to continue. Management of Magnum Hunter does not consider this pending litigation to be of any material nature to the Company.

Magnum Hunter has today filed a new lawsuit against Eagle in the United States District Court for the District of North Dakota (Northwestern Division) asking the court to order Eagle to comply with its obligations under the PSA and complete the sale of the properties to the Company on the specific terms outlined in the PSA. Magnum Hunter is also seeking monetary damages, including compensatory, consequential and general damages, for Eagle's material default under the PSA. The Company intends to vigorously pursue all available remedies against Eagle.

As of August 18, 2011, Magnum Hunter had total liquidity including cash and availability under its various credit facilities of approximately $75 million, of which approximately $55 million is currently available to continue to fund its upstream capital program focused on the Company's high growth unconventional resource plays. In addition, Magnum Hunter has a commitment from its bank group to provide an additional $42.5 million in borrowing capacity for the purchase of the Eagle properties referenced above. Moreover, Magnum Hunter continues to pursue various non-dilutive alternatives to provide access to capital in order to fund capital budget needs later in fiscal year 2012.

Additional information regarding the Company's lawsuit against Eagle, including a copy of the complaint filed by the Company Friday in the United States District Court for the District of North Dakota (Northwestern Division), is contained in a Report on Form 8-K also filed today by the Company with the Securities and Exchange Commission.

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Bill Barret Finalizes DJ Basin Acquisition

- Bill Barret Finalizes DJ Basin Acquisition

Wednesday, August 17, 2011
Bill Barrett Corp.

Bill Barrett has closed its previously announced acquisition of properties in the Denver-Julesburg (DJ) Basin from an affiliate of Texas American Resources Company.

The DJ Basin acquisition includes a preliminary estimate of 7 million barrels of oil equivalent (MMBoe) net proved reserves, approximately 650 Boe per day net production and approximately 28,000 net acres of mineral leasehold, primarily on fee lands. The acquired properties currently have producing wells in the Wattenberg Field with production from the Codell, Niobrara and J Sands formations. Acquired exploration acreage is located predominantly in the Chalk Bluffs area just north of the Wyoming-Colorado border, neighboring the Hereford area just south of the border, where the Company intends to target oil in the Niobrara formation.

The DJ Basin acquisition was completed for approximately $150 million, subject to post-closing adjustments. The Company plans to initiate exploration and development of the Chalk Bluffs and Wattenberg areas, respectively, with a one-rig program beginning in October 2011.

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Williams Cos Affirmed Its Strong Interest In Acquiring Southern Union Company

- Williams Cos Affirmed Its Strong Interest In Acquiring Southern Union Company



Aug 17, 2011

Williams Cos (NYSE:WMB) affirmed its strong interest in acquiring Southern Union Company (NYSE:SUG) for $44 per share in cash. The all-cash proposal represents value certainty of $44 per share to Southern Union shareholders, which is a premium of 4% over the implied value of the agreement with Energy Transfer Equity (NYSE:ETE) of $42.32.

Alan Armstrong, president and chief executive officer said, "Forty-four dollars a share, cash, for every shareholder is a superior offer for Southern Union's shareholders. Southern Union's current agreement with Energy Transfer includes illiquid partnership units whose value will be exposed to equity markets in the months until closing and beyond."

The Williams Cos has a potential upside of 25% based on a current price of $28.15 and an average consensus analyst price target of $35.2.

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Key Completes Acquisition of Edge, Summit Oilfield Services

- Key Completes Acquisition of Edge, Summit Oilfield Services

Monday, August 08, 2011
Key Energy Services Inc.

Key Energy completed the previously announced acquisition of Edge Oilfield Services and Summit Oilfield Services. Total consideration for the transaction was $307.6 million, consisting of approximately 7.5 million shares of Key common stock and $189.7 million in cash, which includes $26.3 million to reimburse Edge capital expenditures, net of working capital adjustments.

Edge primarily rents frack stack equipment used to support hydraulic fracturing operations and the associated flow back of frack fluids, proppants, drilling and completion fluids, and oil and natural gas. It also provides well testing services, rental equipment such as pumps and power swivels, and oilfield fishing services.

Key's Chairman, President, and CEO, Dick Alario, stated, "We are excited to complete this transaction and welcome the Edge employees to Key. We expect Edge to increase our exposure to the horizontal well completion markets, and we hope to leverage our broad U.S. infrastructure to facilitate expansion of this high quality business in the coming years. We anticipate Edge's business will be accretive to Key's margins and earnings beginning this year, and we will provide additional guidance for Key's full-year 2011 results including Edge at a later date."

Edge's CEO, Darrell Brewer, stated, "We are happy to have reached this milestone in our company's history and become a part of Key. Our employees and I look forward to continued strong growth as part of the Key family."

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KCA Deutag Furthers Presence in S. East Asia with GTB Acquisition

- KCA Deutag Furthers Presence in S. East Asia with GTB Acquisition

Friday, August 05, 2011
KCA Deutag

KCA Deutag announced it has acquired Global Tender Barges Pte Ltd (GTB) by increasing its shareholding from 10 to 100%.

GTB based in Singapore owns three self-erect tender barges, the Global Emerald, Global Jade and Global Sapphire, which KCA Deutag has operated on behalf of GTB, since early 2008, under a management services agreement providing drilling operations, maintenance, procurement and other services connected with the offshore operations.

The transaction will contribute to KCA Deutag approximately US $115 million of annual revenues with substantial EBITDA and will further strengthen the financial profile of KCA Deutag.

The Global Emerald is currently on contract to Brunei Shell Petroleum until 1Q 2012 and the Global Sapphire to Petronas, Malaysia until 2014. The Global Jade has recently demobilized from a long term contract with Total in Indonesia and is bid on a number of long term contracts. The company is finalizing negotiations with one client and expects to be in a position to announce further contract awards in the coming few weeks.

The acquisition increases the scale of KCA Deutag's mobile offshore drilling units (MODU's) division, supplementing its three owned jackups and its other management contract on Triumph Drilling's self-erect tender rig, the Searex IX. It further strengthens KCA DEUTAG's presence in the strategic South East Asia and Mexican markets.

Holger Temmen, KCA Deutag's Chief Executive Officer commented, "This deal is a natural evolution for KCA Deutag, to acquire the remaining 90% equity, in assets that we have operated successfully on behalf of GTB for the last three and a half years. The three rigs have an excellent order backlog and bidding activity in the barge sector remains high, with a number of exciting long term opportunities in South East Asia and West Africa that may also justify investing in newbuild units. We are particularly pleased to be strengthening our relationship with three strategically important clients with whom we already have existing operations.

"South East Asia is attracting very large investments from our major oil company clients and provides exciting growth opportunities for companies in the oilfield services sector. KCA Deutag wish to substantially grow its presence in the region, both in the offshore, land drilling and engineering sectors. In addition to our barge activities, we currently operate our land rig T201 for Brunei Shell Petroleum and are currently executing a Front End Engineering Study for the drilling facilities on Woodside's Browse Field development offshore Western Australia for which we also hope to compete for the long term operations and maintenance contract."

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San Leon Subsidiary Concludes Seismic Acquisition in Poland

- San Leon Subsidiary Concludes Seismic Acquisition in Poland

Tuesday, August 02, 2011
San Leon Energy plc

San Leon Energy's Polish subsidiary Liesa has completed its 168 sq. km 3D seismic acquisition program over the Nowa Sol license in the Southern Permian Basin of Poland. The survey was acquired by Acoustic Geophysical Services ("Acoustic") from Hungary. Permitting and land access agreements were managed by TDE Service Polska ("TDE"). Completion of the survey marks the first time that foreign contractors have carried out a seismic acquisition program in Poland.

The survey was designed to image the conventional oil and gas potential of the proven Permian sediments in the Nowa Sol area as well as to look at the deeper potential of the Carboniferous source rocks.

The survey will be processed by two independent processing companies, one in the US and one in Poland. Final processed results are expected in September followed by detailed interpretation by the Company, with plans to commence a two to three well drilling campaign by the end of 2011.

Oisin Fanning Chairman of San Leon Energy commented, "The completion of the Nowa Sol 3D is another step forward in our drilling plans for Poland. The lower risk oil potential of the area is an important part of our short term strategy to organically grow San Leon in the short term while we continue to explore for the significant longer term gas resources in our portfolio. The safe and successful completion of the Nowa Sol 3D is further evidence of San Leon's operational capabilities.

We believe that the Carboniferous section below the proven Permian sediments, an approximate 880,000-acre license position, also offers the potential to be a large unconventional gas play in Europe and we look forward to drilling this later in the year."

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Vanguard, Encore Finalize Permian Basin Acquisition

- Vanguard, Encore Finalize Permian Basin Acquisition

Monday, August 01, 2011
Vanguard Natural Resources, LLC

Vanguard and Encore Energy announced that on July 29, 2011 they consummated the previously announced joint acquisition of oil and natural gas producing properties from an undisclosed seller for an adjusted purchase price of $81.4 million, subject to customary post-closing adjustments. The effective date of the acquisition was May 1, 2011.

The acquired properties are all located in the Permian Basin of West Texas and include:

• Estimated total net proved reserves of 5.48 MMboe
• 70% oil and natural gas liquids
• Reserve to production ratio of approximately 15 years
• Approximately 1,000 Boe/d of net daily production

In conjunction with this acquisition, both VNR and ENP have entered into new oil and natural gas hedges covering a substantial portion of the estimated production through 2014.

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CCS Expands Operations with New Bakken Acquisition

- CCS Expands Operations with New Bakken Acquisition

Monday, August 01, 2011
CCS Corp.

CCS Corporation continues to expand into the United States with the acquisition of KT Hot Oil Company (KT) of Watford City, North Dakota. This is the company's second acquisition this month in the attractive Bakken region shale play and third in the United States. Financial details were not disclosed.

"KT is a well-respected organization with a long history of providing safe and reliable solutions in the basin," said John Gibson, CCS Corporation Chief Executive Officer. "This acquisition will add significant value to our current Bakken operations and builds on CCS's commitment to providing innovative energy and environmental solutions to the oil and gas industry."

KT was founded in 1995 and operates in four key segments: frac water heating, hot oiler services, fluid hauling and salt water disposal wells.

"We are very happy to join the CCS family," said Kent Norbeck, President of KT Hot Oil Company. "I feel the CCS high-performance culture matches well with KT and that we will continue offering our customers with the highest quality services."

KT's 53 employees will join the CCS team and operate under the CCS brand.

Today's acquisition of KT, in addition to last week's purchase announcement of Venture Oilfield Service Inc., further strengthens CCS Corporation's position as one of the leading providers of frac water heating and hot oil services in North Dakota.

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BGP Wraps Up Seismic Acquisition for Saudi Aramco

- BGP Wraps Up Seismic Acquisition for Saudi Aramco

Friday, July 29, 2011
BGP Inc.

BGP Crew 8652 announced the successful completion of the S53 3D TZ seismic survey for Saudi Aramco with a total workload of 1876 km2 3D, as well as a remarkable achievement of 3.5 million man-hour without LTI.

The project area, located on the east coast of Saudi Arabia, comprises terrains of desert, Gobi, seasonal lakes, and shallow water, along with infrastructures of industrial facilities, airport, oilfields, wharfs, offshore exploration platforms, plus convoluted subsea pipelines throughout the entire area. The complex surface conditions, coupled with a large number of workers and equipments had presented unparalleled challenge to engender a safe operation while meeting the client expectations.

The S53 project team integrated three different types of energy sources being vibroseis, explosives and air guns, to best accommodate different working terrains, and yet it is able to complete the project in 18 months almost five months ahead of schedule.

Without saying, this extraordinary accomplishment is the synergetic effort from all members of Crew 8652, supported by the unwavering commitment from BGP headquarters.

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Providence Concludes Seismic Acquisition Offshore Ireland

- Providence Concludes Seismic Acquisition Offshore Ireland

Thursday, July 28, 2011
Providence Resources plc

Providence has, on behalf of itself and its partners, successfully completed the 3D seismic acquisition project in Frontier Exploration License (FEL) 4/08 in the Porcupine Basin, off the west coast of Ireland. This survey was carried out in an area adjacent to the Spanish Point and Burren discoveries. Providence operates FEL 4/08 (32%) on behalf of its partners, Chrysaor E&P Ireland Limited (60%) and Sosina Exploration Limited (8%).

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Mesa Energy Finalizes TNR Acquisition

- Mesa Energy Finalizes TNR Acquisition

Wednesday, July 27, 2011
Mesa Energy Holdings Inc.

Mesa Energy has completed the acquisition of Tchefuncte Natural Resources (TNR), a Louisiana operator that owns and operates producing properties in five fields in Plaquemines and Lafourche Parishes, Louisiana. TNR is now a wholly-owned subsidiary of Mesa Energy, Inc. which is a wholly-owned subsidiary of the Company.

TNR owns the Lake Hermitage Field in Plaquemines Parish, Louisiana. Current production at Lake Hermitage averages approximately 160 barrels of oil and 240 mcf of gas per day. Total mineral acreage held by production is approximately 3,578 acres. A third party engineering report prepared by Collarini Associates places the value of total Proved reserves using a discount rate of 10% (PV-10) at approximately $15.25 million with Proved Developed Producing reserves of $5.24 million. Probable reserves are estimated at $10.65 million.

In addition, immediately prior to the Company closing the TNR acquisition, TNR completed the acquisition of properties in four fields in south Louisiana from Samson Contour Energy E & P, LLC (Samson). These properties have aggregate net production of approximately 160 barrels of oil and 1,080 mcf per day of gas from thirteen producing wells. Mesa believes there are a number of re-completion and workover opportunities in these fields as well as new offset developmental drilling and deep gas potential. All of these potential opportunities are currently being evaluated.

"This is a significant step forward for the Company and its shareholders as we intensify our focus and growth strategy toward the acquisition of existing producing oil properties in an effort to expand and diversify our asset base," said Randy M. Griffin, CEO of Mesa Energy Holdings, Inc. "These properties have substantially increased our reserve base and will add significant monthly net revenue and cash flow, thereby increasing shareholder value."

"We are currently evaluating other producing oil and gas properties in the area and hope to complete additional acquisitions of this nature in the next twelve months," added Griffin.

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TGS Extends Seismic Acquisition in Barents Sea

- TGS Extends Seismic Acquisition in Barents Sea

Tuesday, July 26, 2011
TGS-NOPEC Geophysical Co. ASA

TGS has commenced the acquisition of an extension of its multi-client 3D seismic data in the Hoop Fault Complex area of the Barents Sea. This extension is to the west of the previously announced industry funded Hoop Fault Complex survey and will add 3,391 km2 to the existing data in the area. Upon completion of the expanded project, TGS will have over 7,300 km2 of contiguous multi-client 3D data over the Hoop Fault Complex. In conjunction with this multi-client survey, TGS will also acquire approximately 1,100 km2 of seismic data on a proprietary basis for a TGS customer.

Acquisition of the data will be performed by the M/V Polar Duke towing 10 x 6,000 m streamers with 75 m cable separation and acquisition is scheduled to complete during early 4Q 2011. Data processing will be performed by TGS and will be available to clients from 2Q 2012.

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Doxa Finalizes Interest Acquisition in Tx. Proj.

- Doxa Finalizes Interest Acquisition in Tx. Proj.

Monday, July 25, 2011
Doxa Energy Ltd.

Doxa has closed on the acquisition of a 16.70625% interest in the County Line North Project, McMullen County, Texas, a new venture targeting various Wilcox formation zones of interest. The County Line North Project, operated by Hurd Enterprises, Ltd., of San Antonio, Texas, is a conventional gas condensate prospect which is situated on an initial 280 acre block of leases. Drilling of the Kynette No. 1, the initial well on this project, has been commenced and is proceeding towards its permitted depth of 10,500'. Doxa owns 16.70625% working interest before payout, reverting to 12.5% after payout of this project, and expects its share of the leasehold and initial completed well cost to total approximately $500,000. This project is situated approximately 2 miles northeast of a recently announced successful completion, the Martin-State Gas Unit No. 1 well, a high rate Wilcox producer completed in the Campana, South (Wilcox 10,200') Field. Hurd Enterprises, Ltd. also operates the Martin-State well.

Doxa Energy Ltd. develops and maintains a portfolio of producing and developing conventional and unconventional assets, including the Eagle Ford shale oil window play in South Texas, and the recently announced acreage acquisition in the Mississippian Oil Play of northern Oklahoma.

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MENA Completes Stake Acquisition Offshore Egypt

- MENA Completes Stake Acquisition Offshore Egypt

Thursday, July 21, 2011
MENA Hydrocarbons Inc.

MENA has received co-venturer approval for the acquisition of a 55 percent participating interest in the West Mediterranean, Block 1, Segment A block located 60 km off the Mediterranean coast of Egypt. It is proposed that the acquisition be completed by an indirect wholly-owned subsidiary of MENA. An agreement with the current operator, Hess Egypt West Mediterranean Limited, has been signed as of May 31, 2011. The acquisition was subject to rights of preemption in favor of the existing co-venturers. The co-venturers decided not to pre-empt and have also given their consent to the transaction. MENA intends to seek appointment as operator following the outstanding approval of the Egyptian General Petroleum Corporation and the Egyptian Government and the completion of other customary closing conditions.

Five gas or gas-condensate discoveries have been made on the block. The block is under standard commercial terms for Egyptian concessions. The offshore development lease governing the block is valid for 20 years from the date of first gas deliveries, with an optional five-year extension. The purchase price is US $7.5 million (subject to adjustments) payable in cash.

Graham Lyon, President & Chief Executive Officer of MENA said, "We are another step further in implementing MENA's strategy of building a portfolio of development, production and high impact exploration assets and are pleased to have passed this important step in project capture for MENA in such a short time. We will work with our co-venturers and the authorities to proceed in this development license to a profitable venture and address the significant exploration potential."

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TGS to Launch Seismic Acquisition Offshore Sierra Leone

- TGS to Launch Seismic Acquisition Offshore Sierra Leone

Wednesday, July 20, 2011
TGS-NOPEC Geophysical Co. ASA

TGS will commence acquisition of multi-client 3D seismic data in offshore Sierra Leone later this month. This survey marks over ten years of investment for TGS in the West African region and will add 2,535 km(2) to the existing TGS data library. The new 3D seismic will provide important data for continued exploration on the Sierra Leone segment of the West Africa Transform Margin, where recent discoveries have established that a working hydrocarbon system exists.

The M/V GeoCarribean will acquire the 2011 survey. Data processing will be performed by TGS and available to clients in Q1 2012.

The survey is supported by industry funding.

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