You know that guy who taught me about Gradiance and Lobing thru the highs and the lows who lives in my town....well...he was a former Chevron Oil guy in California....good things come out of California:
So this is Chevron Canada...seems like a stretch but Shell- Syncrude just might have some similar dat thing to share with BMD ? it connects-RE:
ReQuest Seismic Surveys Ltd -
ReQuest to acquire seismic data from Chevron
ReQuest Seismic Surveys Ltd RSH
Shares issued 10,650,700 1999-04-14 close $1.83
Thursday Apr 15 1999
Mr. Todd Chuckry reports:
ReQuest Seismic Surveys Ltd. and Chevron Canada Resources jointly announce that they have entered into a purchase and sale agreement providing for the acquisition by ReQuest of approximately 120,000 kilometres of Chevron's 100 per cent proprietary 2-D seismic data.
ReQuest's president and chief executive officer, Todd Chuckry, commented; "The petroleum industry is making a fundamental shift in how seismic data is perceived. Historically, seismic data has been treated as a closely held trade secret with little monetary value. Under the new paradigm seismic data is viewed as an asset which oil and gas producers no longer need to own. We are pleased to be on the leading edge of this transition."
ReQuest's purchase of the Chevron seismic data monetizes a hidden asset for Chevron. Jim Simpson, president of Chevron remarked, "Chevron is very pleased to be entering into this agreement. This database is one of the best and most extensive in the oil and gas industry including most of the significant exploration and producing regions in Western Canada." Mr. Simpson added, "The Chevron data has earned a long standing reputation for its high quality and ability to generate revenue and we are very confident that it will continue to serve as a valuable asset to ReQuest well into the future."
Upon completion of the acquisition, ReQuest will have one of the largest 100 per cent proprietary free trading seismic databases in Canada. This will allow ReQuest to be in a better position to meet the market demand for high quality regional seismic data. For over 30 years, Chevron has used its own seismic acquisition crews using consistent parameters to record seismic data. Chevron's attention to detail is apparent in the quality of its data.
ReQuest and Chevron have agreed to keep the purchase price confidential. FirstEnergy Capital Corp. has been retained by ReQuest to advise on the acquisition and assist on its financing.
ReQuest is in the business of providing access to seismic data information to customers within the oil and gas industry. ReQuest manages the flow of seismic information for sale purposes on behalf of other companies, acts as a broker to facilitate the licensing of seismic information between vendors and purchasers and creates, markets and supervises the acquisition of new seismic data inventory, thereby adding to the asset base of ReQuest.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
Chuca-going for the hot spots and the bulkie rolls- we call them "Subs" in Massachusetts. Bye- Submarine Sandwich Roll. |
