hi pg,
Sometimes it seems that we have to "suffer" through some of our decisions even when we know that we are doing the "right" thing. As to the dark clouds, I'll take the blame for now<g>. I could use a new rabbit's foot!
Couple of news articles about APC (full text below):
Paradigm Geophysical Expands Geophysical Services Operations; Awarded Long-Term Services Contract by Anadarko Petroleum
HERZLIA, Israel--(BUSINESS WIRE)--August 18, 1999--Paradigm Geophysical Ltd. (NASDAQ: PGEO) today announced the further expansion of its geophysical data analysis services operations.
In response to increasing client demand for its services, Paradigm has increased the capacity of its supercomputer in its Houston service center. The Company has recently installed a 64 processor addition to its Silicon Graphics supercomputer, expanding its computer capacity in Houston to over 180 processors, thus permitting the Company to offer clients a significant reduction in data analysis turnaround time.
In announcing this expansion of capacity, the Company's Chairman and CEO, Eldad Weiss, stated: "This level of dedicated computing capacity demonstrates our expanding commitment to provide the oil and gas industry with value added services for complex geoscience data analysis tasks. Our contract awards since the beginning of the year demonstrate our clients' confidence in Paradigm's ability to apply leading-edge software solutions to complex analysis problems, like those of the sub-salt oil and gas prospects in the Gulf of Mexico."
New Services Agreement with Anadarko Petroleum
In addition, Paradigm and Anadarko Petroleum Company signed a two-year services agreement valued at approximately $2.3 million. Under the terms of Phase I of the agreement, Paradigm will provide pre-stack depth imaging for two Gulf of Mexico projects.
"The Gulf of Mexico is a very significant piece of Anadarko's exploration portfolio," explained Bob Lunn, Anadarko's Exploration Manager for the Gulf of Mexico and Alaska. "We have a very aggressive growth strategy in the Gulf of Mexico and will look to Paradigm to help provide the information we need to carry out our plans in this particular area."
Paradigm Geophysical Ltd. provides geoscience software and service solutions to the oil and gas industry. The Company has sales, customer support and service offices in Houston, London, Aberdeen, Moscow, Caracas, Buenos Aires, Sao Paulo, Perth, Brisbane, Beijing, Jakarta and Singapore.
"Paradigm Geophysical(R)" is the registered trademark of Paradigm Geophysical Ltd.
Recent press announcements are available on Paradigm's web site: www.paradigmgeo.com.
CONTACT:
Paradigm Geophysical Ltd.
Brian W. Berman, CFO
Phone: +972-9-970-9339
Fax: +972-9-970-9319
Email: brian@paradigmgeo.com
or
Ruder Finn, Inc.
Steven Curtis
Phone: +1-212-593-6319
Fax: +1-212-715-1660
Email: curtiss@ruderfinn.com
also:
Anadarko Petroleum Sells Texas Production Through Madison Energy
HOUSTON, Aug. 19 /PRNewswire/ -- Today, Madison Energy Advisors announced it has been retained by Anadarko Petroleum Corporation (NYSE: APC) to evaluate and market a package of their producing oil and gas properties and gathering system located in the Texas Panhandle.
The package is in the Hemphill Field area of Hemphill County, Texas. The properties include 83 completions from 70 wells with working interests ranging from 5% to 100%. Current gross daily production from these properties is approximately 82 BOPD and 8100 MCFD.
Included in the sale are Anadarko's surrounding midstream assets. The Hemphill Gathering System gathers low-pressure wellhead gas and delivers it to Williams' Hobart Ranch Plant. This pipeline is 4" to 8" in diameter, is approximately 50 miles long and currently has 112 wells connected.
The properties will be sold through a negotiated sale, with a data room scheduled to open in August. For further information contact Clint Wetmore at Madison Energy Advisors, 281-876-2244 or check Madison's web page for regular status updates at www.MadisonEnergy.com.
SOURCE Madison Energy Advisors, Inc.
CO: Madison Energy Advisors, Inc.; Anadarko Petroleum Corporation
ST: Texas
IN: OIL
SU:
08/19/99 06:30 EDT prnewswire.com |
