Sunday, October 31, 2010

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Tuesday, October 5, 2010

Colorado company makes second offer for Broome mineral rights

BINGHAMTON -- Exactly two months after an initial deal was rejected, Broome County received a new, slimmed-down $7.8 million offer for the mineral rights to some county-owned land, County Executive Barbara J. Fiala announced Monday.

The offer is from Denver-based Inflection Energy LLC, the same company that made the July offer that was rebuffed.

The deal, if approved by the legislature, would pay between $2,250 and $2,750 per acre up front -- the $7.8 million -- for the rights to 3,200 acres of county land, with a company option to extend the lease by five years for an additional bonus payment. That's down from $3,000 an acre that was offered in July for 5,610 acres, but much of Broome's most valuable and geologically favorable property near the Pennsylvania border was withheld from the current offer, Fiala said.
"I'm absolutely pleased" with the offer, Fiala said. "It opens up potential for the other acreage, which will bring possibly a larger price per acre."

Legislature Chairman Daniel Reynolds, a Democrat from Vestal, said Monday he was surprised to see a new offer come down "right on the heels of the last offer."

"My first impression is that it is very similar to the one we saw less than two months ago, but not as good of a deal," said Reynolds. "I don't know how the legislators are going to react, but I suspect that many of them will be unhappy with the proposal."

The offer will be subject to legislative committees before it is put to a vote, and Reynolds said he would provide opportunity for public input on the proposal. The offer will likely be added to October's legislative agenda, Reynolds said, since September's schedule has already been set.
The bonus payment would not be contingent upon the state Department of Environmental Conservation's ongoing review of the Supplemental Generic Environmental Impact Statement, a document that will guide the permitting process for horizontal drilling in the state's portion of the gas-rich Marcellus Shale formation. High-volume hydraulic fracturing -- a controversial drilling technique in which a mix of water, sand and chemicals is blasted deep underground to break shale and release natural gas -- is effectively on hold until the review is complete.

This is an extract from http://www.pressconnects.com/article/20100920/NEWS11/9200380/Colorado-company-makes-second-offer-for-Broome-mineral-rights

Appointment of Robert Popick as New President and CEO of Quad Energy Corp.

ORLANDO, FLORIDA, Sep 29, 2010 (MARKETWIRE via COMTEX) -- Quad Energy Corp. /quotes/comstock/11i!cdid (CDID 0.04, -0.01, -20.00%) announces, that effective September 28,2010, Robert Popick of Medicine Hat, Alberta Canada has been appointed as the new President and CEO, and Director of Quad Energy Corp.

Bruce Milroy our current CFO has also been appointed as Director effective September 28, 2010.

Effective Sep 28, 2010, Mr. Jim Can, has submitted his resignation as President, CEO and Director of Quad Energy Corp.

The Board of Directors would like to thank Mr. Jim Can for his leadership and recognizes him for his boundless efforts and dedication he continuously demonstrated for the Company.

Mr. Popick became involved with Quad Energy Corp. August 15, 2010. His contribution are extensive management skills, a proven ability to recognize and act upon opportunities with a multitude of contacts that he has developed over the years.

He was instrumental in the development and founding of AACE Environmental Services, a publicly traded company, of which Mr. Popick was Vice President and sat on the board of directors. In addition, through 1990 -1997 Mr. Popick sat on the advisory board for the Alberta Government responsible for the G-50 waste guidelines for the disposal of all drilling waste.

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Saturday, October 2, 2010

Drydocks World Dubai delivers third 3 D seismic vessels to Polarcus

Drydocks World Dubai has delivered the third 3-D seismic vessel, Polarcus Asima to its client Polarcus the leading marine geophysical company based in Dubai.


Polarcus Asima is the third in a series of 6 seismic vessels being built at the yard for Polarcus. The first 2 units, Nadia and Naila have already been delivered and deployed for operation.

Like its predecessors, the double hulled, DP2 class Polarcus Asima incorporates many features to enhance performance with improved safety and comfort elements while ensuring minimum emissions. The 12 streamer vessel has Ulstein SX134 design and is purpose built for high end 3D marine seismic operations and is one of the most advanced and environmentally friendly vessels built and the largest in the company's fleet.

Earlier this year, His Royal Highness Crown Prince Haakon of Norway visited the Dubai ship yard as part of his official trip to Dubai, Abu Dhabi and Doha and was taken on a tour aboard the vessel, Polarcus Asima.

Mr Hamed Bin Lahej executive chairman of Drydocks World and Regional CEO said that "Polarcus Asima is a state of the art vessel with the latest and most advanced technological equipment. For Drydocks World Dubai this is a significant achievement, demonstrating yet again the shipyard's sophisticated new building capabilities."

This is an extract from http://www.steelguru.com/middle_east_news/Drydocks_World_Dubai_delivers_third_3_D_seismic_vessels_to_Polarcus/166247.html

PGS scraps Newbuild 535

Norwegian seismic player Petroleum Geo-Services said today it has terminated its contract for the Newbuild 535 seismic vessel with Spain’s Factorias Vulcano shipyard due to delays in delivery.


Aleya Begum 22 September 2010 12:56 GMT

The cancellation is the third of four newbuild vessels that PGS, through its subsidiary Arrow Seismic Invest, had on order with the yard to be scrapped.

“The vessel had an adjusted delivery date of January 2010,” said PGS spokesman Tore Langballe.

“It is still far from complete.”

After a 200-day delay period from stated delivery date, PGS has a right to cancel the order said LangBalle.

The cancellation includes a call for a refund of €40.5 million ($54.3 million) with interest from the yard.

Refund claims by PGS on the previous two cancelled vessels, Newbuild 532 and Newbuild 533, reached arbitration before being settled.

“We believe it (payment of refunds) will be pretty straight forward this time,” said Langballe.

“The full amount is guaranteed by banks.”

The termination will also see PGS hit with an $80 million material impairment charge which it expects to record in the third quarter.

This is an extract from http://www.upstreamonline.com/live/article230174.ece

60Ton AHC Knuckle Boom Offshore Crane For Sale - New- Worldoils Oil, gas and offshore equipment marketplace

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Baker Hughes opens drilling waste management R&D center

Posted on 9/22/2010

Baker Hughes Inc. opened its Eco-Centre waste management plant in Peterhead, Scotland, in June. In addition to treating and recycling drilling waste, the plant includes a research and development center.

Drilling waste contains oily residues classified as hazardous waste, and its disposal must follow strict federal and local regulations, Baker Hughes said in a recent company magazine, Connexus.

“Facilities that treat hazardous waste in the UK must adhere to Scottish Environmental Protection Agency guidelines and have an Integrated Pollution Prevention and Control Directive permit that outlines operational measures to control emissions to the environment,” Baker Hughes said.

Martin Gilbert, Baker Hughes global R&D manager, said he believes no other R&D center has direct access to drill cuttings and waste fluids like the one in the Peterhead Eco-Center.

Waste disposal from oil and gas drilling and production is an issue of growing important for operators worldwide. Baker Hughes said North Sea operators have the choice of hiring waste management companies to transport cuttings and fluids for disposal onshore or else operators reinject cuttings into dedicated disposal wells.

Labels: Scotland , UK , Peterhead , offshore drilling , Baker Hughes Inc. , waste disposal , North Sea

This is an extract from http://www.ogj.com/index/blogs/health-safety-environment/blogs/OGJ/health-safety-environment-blog/post987_6039390110177366363.html