Friday, June 26, 2015

Independent Oil & Gas extends seismic remapping agreement with Baker Hughes

Independent Oil & Gas extends seismic remapping agreement with Baker Hughes: "Independent Oil and Gas PLC (IOG) is extending its seismic remapping agreement with Baker Hughes’ Reservoir Development Services (RDS) group to better understand resource potential for its Blythe and Cronx/Elgood projects in the Southern North Sea (SNS), with an expected delivery date of late July 2015. “We are pleased to strengthen our relationship with RDS as the initial results from the seismic remapping work are positive,” said Mark Routh, IOG’s CEO. “We expect that the resource plays beneath the Blythe and Cronx/Elgood fields are larger than first anticipated, and with additional reservoir understanding we can more than double our proven reserves, which are currently 3.0 MMboe.”"

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