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Petrobras (PBR), Shearwater Join Forces for Brazil Exploration
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Petrobras (PBR - Free Report) , Brazil's state-owned oil and gas company, entered into a multi-year technology agreement with Shearwater GeoServices, a Norwegian marine seismic services provider, to extend the development of marine vibrator seismic source technology in offshore Brazil.
Operational Efficiency, Seismic Data Quality and Reduced Sound Emissions
At the heart of this partnership lies Shearwater's marine vibrator technology, codenamed "BASS." This innovative seismic source promises significant gains in operational efficiency, seismic data quality and reduced sound emissions compared to traditional methods. BASS operates by generating controlled vibrations in the water, producing a continuous sweep of frequencies that can penetrate deep into the seabed to reveal subsurface geological structures.
Industrializing BASS for Brazil's Offshore Basins
The collaboration between Petrobras and Shearwater aims to industrialize BASS technology and its associated services for Brazil's offshore basins. This includes developing and deploying the technology in Brazilian waters, and training Petrobras personnel in the technology’s operation and maintenance.
Accelerating Exploration and Development
The introduction of BASS technology is expected to accelerate the exploration and development of offshore oil and gas fields in Brazil. By providing higher-quality seismic data, BASS will enable Petrobras to identify potential hydrocarbon reservoirs more accurately, leading to more efficient exploration and development efforts.
Environmental Considerations
The potential impact of seismic data acquisition on marine life is a growing concern in the industry. BASS technology's non-impulsive mode of energy emission is expected to mitigate this impact, promoting sustainable seismic exploration practices.
It also offers better environmental benefits compared with traditional seismic methods. Its non-impulsive mode of energy emission and reduced sound emissions are expected to minimize the potential impact of seismic data acquisition on marine life.
Pearl Ocean-Bottom Node System
Shearwater plans to co-deploy BASS with its Pearl ocean-bottom node (OBN) system in Brazil. The system is a compact and versatile solution designed for high-resolution seismic surveys. Its fully wireless interface and long battery life support efficient survey design, automation and digitalization.
In conclusion, the partnership between Petrobras and Shearwater marks a significant step forward in advancing seismic exploration technologies and practices in Brazil. The adoption of BASS technology holds immense potential to enhance operational efficiency, improve seismic data quality and reduce environmental impact, ultimately contributing to the successful exploration and development of Brazil's offshore oil and gas resources.
Liberty Energy is valued at $3.35 billion. LBRT currently pays a dividend of 20 cents per share, or 1.01% on an annual basis.
LBRT is a leading provider of hydraulic fracturing and other auxiliary services to North American onshore exploration and production companies.
Oceaneering International is worth approximately $2.12 billion. In the past year, its shares have risen 39.9%.
The company provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing and entertainment industries worldwide.
USA Compression Partners is valued at around $2.51 billion. USAC currently pays a dividend of $2.10 per unit, or 8.23% on an annual basis.
USAC provides natural gas compression services. The company offers compression services to oil companies and independent producers, processors, gatherers, and transporters of natural gas and crude oil. It also operates stations.
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Petrobras (PBR), Shearwater Join Forces for Brazil Exploration
Petrobras (PBR - Free Report) , Brazil's state-owned oil and gas company, entered into a multi-year technology agreement with Shearwater GeoServices, a Norwegian marine seismic services provider, to extend the development of marine vibrator seismic source technology in offshore Brazil.
Operational Efficiency, Seismic Data Quality and Reduced Sound Emissions
At the heart of this partnership lies Shearwater's marine vibrator technology, codenamed "BASS." This innovative seismic source promises significant gains in operational efficiency, seismic data quality and reduced sound emissions compared to traditional methods. BASS operates by generating controlled vibrations in the water, producing a continuous sweep of frequencies that can penetrate deep into the seabed to reveal subsurface geological structures.
Industrializing BASS for Brazil's Offshore Basins
The collaboration between Petrobras and Shearwater aims to industrialize BASS technology and its associated services for Brazil's offshore basins. This includes developing and deploying the technology in Brazilian waters, and training Petrobras personnel in the technology’s operation and maintenance.
Accelerating Exploration and Development
The introduction of BASS technology is expected to accelerate the exploration and development of offshore oil and gas fields in Brazil. By providing higher-quality seismic data, BASS will enable Petrobras to identify potential hydrocarbon reservoirs more accurately, leading to more efficient exploration and development efforts.
Environmental Considerations
The potential impact of seismic data acquisition on marine life is a growing concern in the industry. BASS technology's non-impulsive mode of energy emission is expected to mitigate this impact, promoting sustainable seismic exploration practices.
It also offers better environmental benefits compared with traditional seismic methods. Its non-impulsive mode of energy emission and reduced sound emissions are expected to minimize the potential impact of seismic data acquisition on marine life.
Pearl Ocean-Bottom Node System
Shearwater plans to co-deploy BASS with its Pearl ocean-bottom node (OBN) system in Brazil. The system is a compact and versatile solution designed for high-resolution seismic surveys. Its fully wireless interface and long battery life support efficient survey design, automation and digitalization.
In conclusion, the partnership between Petrobras and Shearwater marks a significant step forward in advancing seismic exploration technologies and practices in Brazil. The adoption of BASS technology holds immense potential to enhance operational efficiency, improve seismic data quality and reduce environmental impact, ultimately contributing to the successful exploration and development of Brazil's offshore oil and gas resources.
Zacks Rank and Key Picks
Currently, PBR carries a Zacks Rank #3 (Hold).
Investors interested in the energy sector might look at some better-ranked stocks like Liberty Energy Inc. (LBRT - Free Report) and Oceaneering International, Inc. (OII - Free Report) , each sporting a Zacks Rank #1 (Strong Buy), and USA Compression Partners, LP (USAC - Free Report) , carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Liberty Energy is valued at $3.35 billion. LBRT currently pays a dividend of 20 cents per share, or 1.01% on an annual basis.
LBRT is a leading provider of hydraulic fracturing and other auxiliary services to North American onshore exploration and production companies.
Oceaneering International is worth approximately $2.12 billion. In the past year, its shares have risen 39.9%.
The company provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing and entertainment industries worldwide.
USA Compression Partners is valued at around $2.51 billion. USAC currently pays a dividend of $2.10 per unit, or 8.23% on an annual basis.
USAC provides natural gas compression services. The company offers compression services to oil companies and independent producers, processors, gatherers, and transporters of natural gas and crude oil. It also operates stations.