CGG and Fairfield Geotechnologies have signed a second cooperation agreement on Feb. 6 to acquire a series of large-scale, high-density, multiclient surveys in the Central Basin Platform (CBP) of the Permian Basin located in West Texas. The new wide-azimuth datasets will provide a better understanding of the structural complexity of the transition between the CBP and surrounding basins to enhance industry drilling efforts.
The CBP is a tectonically uplifted geological structure that separates the deep Delaware Basin and the shallower Midland Basin, which, all together, make up the greater Permian Basin of West Texas. The CGG/Fairfield agreement area covers approximately 6,500 sq miles (16,834 sq km) across several counties, including Gaines, Andrews, Ector, Crane and Upton County. This prospective area is attracting significant client interest and several surveys within the CGG/Fairfield agreement area are already supported by industry prefunding.
“Drawing on our combined expertise and experience, CGG and Fairfield Geotechnologies will define, design and implement this new program of wide-azimuth high-density surveys in order to deliver reservoir-ready data of the highest quality. Interested industry players will gain unprecedented insight into the potential of this area within the Permian Basin, one of the most prolific regions in North America,” Dechun Lin, executive vice president, multi-client, CGG, said.
Recommended Reading
Not Sweating DeepSeek: Exxon, Chevron Plow Ahead on Data Center Power
2025-02-02 - The launch of the energy-efficient DeepSeek chatbot roiled tech and power markets in late January. But supermajors Exxon Mobil and Chevron continue to field intense demand for data-center power supply, driven by AI technology customers.
US Energy Secretary Nominee Chris Wright Champions Energy at DUG GAS
2024-11-19 - President-elect Donald Trump's energy secretary nominee Chris Wright championed energy's role in bettering human lives earlier this year on stage at Hart Energy’s DUG GAS Conference and Expo.
What's Affecting Oil Prices This Week? (Feb. 3, 2025)
2025-02-03 - The Trump administration announced a 10% tariff on Canadian crude exports, but Stratas Advisors does not think the tariffs will have any material impact on Canadian oil production or exports to the U.S.
BP Cuts Over 5% of Workforce to Reduce Costs
2025-01-16 - BP will cut over 5% of its global workforce as part of efforts to reduce costs and rebuild investor confidence.
Exxon Slips After Flagging Weak 4Q Earnings on Refining Squeeze
2025-01-08 - Exxon Mobil shares fell nearly 2% in early trading on Jan. 8 after the top U.S. oil producer warned of a decline in refining profits in the fourth quarter and weak returns across its operations.