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    seismic

    Explore " seismic" with insightful episodes like "Harmonising B2B Sales and Marketing", "John Tookey: AUT Professor of Construction on Wayne Brown wanting to stop spending on seismic strengthening", "Episode #39 - How to Empower Employees to do Social Selling (with Steve Watt)", "#59 India's Chandrayaan-3 spacecraft became the first spacecraft to land in the south polar region of the moon. Let's see why the this incredible spacecraft and rover could be instrumental for the future of human spaceflight." and "#104 - Your Lead Scoring Model is Wrong with Kenny Lee (Part 2)" from podcasts like ""We Do B2B", "Early Edition with Kate Hawkesby", "The Internal Marketing Podcast", "Cosmic Coffee Time with Andrew Prestage" and "The Revenue Cafe"" and more!

    Episodes (45)

    Harmonising B2B Sales and Marketing

    Harmonising B2B Sales and Marketing

    Embark on a transformative journey with us as we welcome the brilliant Sonja Webb of OfficeMax to "We Do B2B." Sonja, a maestro of revenue enablement, pulls back the curtain on how the alignment of sales and marketing departments can electrify your team's performance. Witness how, through the strategic implementation of Seismic, OfficeMax has created a symphony of synchronised efforts that not only bolster sales but also forge a dynamic customer experience.

    This episode explores:

    - Insights into the alchemy between sales and marketing

    - The power of personlised, automated collateral

    - A harmonious partnership of revenue enablement and brand awareness

    - Bridging the gap between sales and marketing teams

    - Growth potential and seamless collaboration

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    Let’s roll up our sleeves and take on tomorrow together.

    John Tookey: AUT Professor of Construction on Wayne Brown wanting to stop spending on seismic strengthening

    John Tookey: AUT Professor of Construction on Wayne Brown wanting to stop spending on seismic strengthening

    Auckland’s Mayor wants the new Government to review earthquake-strengthening rules. 

    The region hasn’t shown signs of earthquake activity for 100,000 years, Wayne Brown said, and instead they should focus on the risk of volcanic eruption. 

    He’s keen to stop spending on seismic strengthening unless a building is likely to fall down. 

    John Tookey, Professor of Construction at AUT, told Kate Hawkesby that it’s a matter of public safety.  

    He said that no one thought that Christchurch was going to be a major problem until it became a major problem. 

    LISTEN ABOVE 

    See omnystudio.com/listener for privacy information.

    Episode #39 - How to Empower Employees to do Social Selling (with Steve Watt)

    Episode #39 - How to Empower Employees to do Social Selling (with Steve Watt)

    Social selling has changed. With so many sales and marketing messages bombarding your target customers, your company needs to know how it can best stand out from the 'noise'. How can you empower employees and implement a winning social selling strategy for your company? Steve Watt, Director of Market Insights at Seismic, shares how.

    The Internal Marketing Podcast is the unique podcast series that 'flips' the marketing conversation, from external to internal, sharing everything you need to know, to build the company brand and drive growth, by engaging and empowering its employees to become advocates of the company brand. If you're not already subscribed to The Internal Marketing Podcast, then join the 'internal marketing tribe' and subscribe, leave a review and share the podcast with anyone in your network whom, you believe, will find it valuable. Thanks for listening!

     

    ABOUT STEVE WATT - Featured Guest

    Steve believes that old sales and marketing mindsets, playbooks, and metrics are reaching the end of their useful life, and that far too many leaders and practitioners are failing to adjust. People are done with being hunted. A new breed of client-centric social sellers are rising above the noise of an incredibly competitive world and becoming the professionals that people *actually want* to speak with.  Steve was an early employee at LinkedIn and has been a social selling and digital engagement practitioner, writer, podcaster and educator for more than a decade. He has spoken at dozens of industry and corporate events, dozens of colleges and universities, and his guidance in the field has been published by the American Marketing Association, DemandGen Report, the LinkedIn Sales Blog and more. Steve is Market Insights Director at Seismic, the world’s leading sales enablement platform. He works with customers around the world, and across multiple industries, to help them build transformational client-centric social selling and employee advocacy programs. You can connect with Steve on LinkedIn: https://www.linkedin.com/in/stevewatt/

     

    ABOUT KERRY-ANN STIMPSON - The Internal Marketing Podcast Producer and Host

    Kerry-Ann is the Chief Marketing Officer (CMO) of the JMMB Group, a financial services group of companies, headquartered in Kingston, Jamaica, with operations across the Caribbean. She is also the producer and host of The Internal Marketing Podcast, a personal passion project that was borne out of her belief that a company's growth and marketing strategies can't succeed, unless company employees (its most powerful advocates) are authentically engaged and empowered to deliver on the brand promise and to become advocates of the company brand. You can follow and connect with Kerry-Ann on LinkedIn.

     

    ABOUT WORKSHOP  (The Internal Marketing Podcast's Season 4 Sponsor)

    Workshop is an internal communications platform for creating beautifully branded, employee-specific campaigns. It replaces any internal email tool that you have and integrates with the other communication channels your team uses the most (including Slack, SharePoint, and Microsoft Teams). Head over to useworkshop.com/marketing to get a ton of awesome (and FREE) content and resources about how you can create and implement internal marketing campaigns and employee advocacy programs for your company. Also, sign up for their Happy Monday Club newsletter here.

    #59 India's Chandrayaan-3 spacecraft became the first spacecraft to land in the south polar region of the moon. Let's see why the this incredible spacecraft and rover could be instrumental for the future of human spaceflight.

    #59 India's Chandrayaan-3 spacecraft became the first spacecraft to land in the south polar region of the moon. Let's see why the this incredible spacecraft and rover could be instrumental for the future of human spaceflight.

    India’s Chandrayaan-3 spacecraft, with the Vikram lander and Pragyan rover have landed in the south polar region of the moon. Some craters in this region are permanently shaded from the blazing sun and can have water ice at the base of these lunar craters. 

    India became only the fourth nation to successfully soft-land a spacecraft on the moon, and the first to successfully land a spacecraft in the moon’s south pole region. It’s an incredible story!

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    #104 - Your Lead Scoring Model is Wrong with Kenny Lee (Part 2)

    #104 - Your Lead Scoring Model is Wrong with Kenny Lee (Part 2)

    In this episode of The Revenue Cafe Podcast by Breadcrumbs Hot Takes Live, Armando Biondi and Kenny Lee, VP Revenue Marketing at Seismic, discuss the importance of a sophisticated scoring engine for high-performance in a company. They explore how many companies overlook the significance of such systems and opt for simple scoring models. Kenny shares his experience working in companies that lacked product-market fit and were ahead of market maturity, which required a more proactive approach to generate demand.

    They delve into the negotiation and alignment aspect of scoring systems, emphasizing the need for careful and empathetic communication among teams. Kenny highlights the importance of proper qualification questions to get the sales pipeline on 3rd base, ready to close deals. The conversation also touches on the role of measuring success in revenue marketing, with a focus on reducing marketing to sales handoff percentages and ensuring effective pipeline conversion.

    HIGHLIGHT QUOTES

    Pulling the Market Forward: The Power of Proactive Demand Generation - Kenny Lee: "I have been, I jokingly say, fortunate to work at some companies that didn't have product market fit, was not a leader in its space, right? We have to, we were selling a product that was or a solution that was way ahead of market maturity. And so, you know, you can't wait for the phone to ring and look at harvest that demand. I think traditional demand models where you have that sausage factory or baton handoff works when everyone's in a buying mood, everyone's got money, they want to test and iterate when I was working in companies that didn't have that recognition, you have to pull the market forward that no one's answering your phone, no one's buying."

    From Anecdotes to Data: The Value of a Closed Loop Model - Kenny Lee: "The other thing that I'll tell you as an insight, uh, Armando, that we learned was that in this process, right? Old school mentality was, hey, marketing's not doing their job or inside sales is dropping the ball, you know, in this process where we all agreed on the handoff stages, what it would look like sales going through their process, we actually learned that a lot of it was product shortcomings, right? And we're not pointing fingers. We're just saying, look, okay. We're losing customers at stage 2 because there are product gaps. And here's the data that tells us that."

    You can find out more about Kenny in the link below: 

    HOST: Armando Biondi

    GUEST: Kenny Lee

    Breadcrumbs Podcast

    #103 - Your Lead Scoring Model is Wrong with Kenny Lee (Part 1)

    #103 - Your Lead Scoring Model is Wrong with Kenny Lee (Part 1)

    In this episode of The Revenue Cafe Podcast by Breadcrumbs Hot Takes Live, Kenny Lee, VP Revenue Marketing at Seismic, challenges the traditional lead scoring model and suggests a better approach to improve go-to-market efficiency. He highlights the common problem of each team working in their own silo, creating their own methodology for success. This leads to low conversion rates and missed bookings targets. Kenny proposes analyzing winning pipeline data to build a more effective lead scoring model. By identifying key attributes of successful opportunities, teams can align and improve their qualification and disposition processes. This approach helps answer crucial questions about buying accounts, buyers, and their behaviors, ultimately increasing velocity through the customer journey.

    HIGHLIGHT QUOTES

    Need for alignment between marketing, inside sales, and sales teams - Kenny: “If marketing is hitting their pipeline goals, but sales is missing their numbers, you can't give each other high fives on the marketing team because something isn't working”

    Importance of stakeholder alignment and division of attributes for success - Kenny: “Ultimately, if you want to know what winning pipeline to bookings looks like, analyze that and then get all your go to market teams aligned to those attributes and figure out how to divide those and conquer”

     

    You can find out more about Kenny in the link below: 

    #92 - Leveraging Data-driven Insights to Drive Enablement Success with Irina Sorian (Part 2)

    #92 -  Leveraging Data-driven Insights to Drive Enablement Success with Irina Sorian (Part 2)

    In this episode, Irena Soriano, VP of Enablement at Seismic, delves into the "improve" phase of the enablement strategy. Joe and Irina emphasize the importance of using collected data to enhance skills and improve enablement programs. Collaboration with managers, coaching, and driving accountability are key factors in achieving success. The field activation team plays a crucial role in providing feedback and identifying gaps for program improvement. Measuring the impact on business metrics and demonstrating value to executives are essential. Specific metrics tracked in different phases of enablement are discussed, highlighting the integration of technology in the process. The significance of having a plan and program for repeatable enablement success is emphasized, along with the need to track data, enable engagement, and measure outcomes. Learn everything in more detail in this episode of Breadcrumbs Hot Takes Live by Revenue Cafe podcast.


     

    HIGHLIGHT QUOTES

    Coaching Managers to Optimize Program Effectiveness and Accountability - Irina: "So here's really where we work with the managers to coach them to help us reinforce whatever enablement program we're driving for the year. And then also help us drive accountability with the teams where there is low enablement engagement because that happens, as we all know."


     

    You can find out more about Irina in the link below: 

    LinkedIn: https://www.linkedin.com/in/irina-soriano/

    #54 NASA’s VERITAS mission to Venus. There’s some good news, there’s some bad news and there’s one incredible discovery hidden for thirty years.

    #54 NASA’s VERITAS mission to Venus. There’s some good news, there’s some bad news and there’s one incredible discovery hidden for thirty years.

    In 2021, NASA announced the VERITAS mission to Venus, NASA’s first voyage to Earth’s twin planet since the early 90’s. Things haven’t gone completely to plan for this project, but one thing VERITAS has already accomplished, it got scientists reviewing data from previous missions, and what they found was truly incredible. And all without leaving the ground.
     
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    Worlds Shocking Stories - Tunguska Event - Russia

    Worlds Shocking Stories - Tunguska Event - Russia

    In todays episode, Brad will be talking about an event that happened on June 30 1908, near Podkamennaya Tunguska River, Siberia, Russian Empire.

    A suspected meteor bounced off the atmosphere causing damage in an area of 2150 square kilometers.

    Although there are around 120 different theories of what happened, we will talk about just a few of them. Some of them are just crazy to think about, but some are most probable.

    So what do you think happened?

    We also have a shoutout to our fellow Den Network podcasters Dave and Sarah from In A Pickle Podcast, so please check them out.

    https://open.spotify.com/show/18FGyEIWtoB1fvBgiu6GJ9?si=880fd3f927b746a5


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    Episode 200: Seismic

    Episode 200: Seismic

    (Intro & piano music)

    Welcome to our 200th episode! This feels like a very weird time to celebrate, especially when the rescue teams in Turkey and Syria are making superhuman efforts. Do donate if you can whether it's goods or money and, I hope you enjoy today's word. Σείω (seio) in both ancient and modern Greek means 'I shake', 'I move'. Keep that, you'll need it.  There are many variations of how the leader of the giants, Ενγκέλαδος (Engelados), in the war against the Olympian Gods, was defeated. The most popular one is depicted in ancient jars and one particular moment , on a Parthenon metope. The moment when Athena threw her four-horse carriage on him.  After that, the myth says, she buried him alive under the mount Aetna in Italy were when he tosses and turns angrily, he causes a ΣΕΙΣΜΟ/ SEISMIC

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    #47 Have you ever heard of moonquakes? Let's take a look at how different they are from earthquakes.

    #47 Have you ever heard of moonquakes? Let's take a look at how different they are from earthquakes.

    For a long time we speculated that there might have been earthquakes on the moon, we call them moonquakes. How did we eventually detect them, and what makes them so different from earthquakes?
    Let's take a look and figure out what's going on there.

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    From First Gen Student to a Career in Structural Engineering with Gilberto Mosqueda

    From First Gen Student to a Career in Structural Engineering with Gilberto Mosqueda
    Gilberto Mosqueda, PhD, is a professor of structural engineering at UC San Diego. His work focuses on protecting buildings from earthquake damage. How did he find is way to such an interesting and rewarding career? A first gen college student, his parents instilled a strong work ethic and an understanding of the value of education. He shares how finding mentors and connecting with other students in STEM fields helped motivate him to pursue advanced degrees and a career focused on research and innovation. Series: "Education Channel" [Science] [Education] [Show ID: 37899]

    From First Gen Student to a Career in Structural Engineering with Gilberto Mosqueda

    From First Gen Student to a Career in Structural Engineering with Gilberto Mosqueda
    Gilberto Mosqueda, PhD, is a professor of structural engineering at UC San Diego. His work focuses on protecting buildings from earthquake damage. How did he find is way to such an interesting and rewarding career? A first gen college student, his parents instilled a strong work ethic and an understanding of the value of education. He shares how finding mentors and connecting with other students in STEM fields helped motivate him to pursue advanced degrees and a career focused on research and innovation. Series: "Education Channel" [Science] [Education] [Show ID: 37899]

    No. 73 ~ Frequency Writer: August 2021+ Marinades ~ 8-8 Lions Gate, Seismic Booms, Quantum Resurrections, & God's Truth Movement

    No. 73 ~ Frequency Writer: August 2021+ Marinades ~ 8-8 Lions Gate, Seismic Booms, Quantum Resurrections, & God's Truth Movement

    In Part 2 of this 2-Part Video Series, I share some very powerful insights and empowering marinades about the 8:8 Lion's Gate, the Lionheart Rising, how seeking answers can entangle us, how Seeking Truth can liberate us, the seismic booms are waking the sleepers, quantum divine resurrections, and our Part in God's Truth Movement.  August 2021 is ushering in more Quakes, Shakes, and Roars!  It is a very potent and energizing marinades message!  These are indeed Epic, Biblical, and Quantum times! 

    Part 1 of this 2-Part Video Series is a transmission received from The Arcturian Collective that includes timely insights about today's biblical times. In this message, the Guides spotlight the 8:8 Lion's Gate & the current Shakes, Quakes, and Roars unfolding.  They say that the Lionheart Is Rising, that Lion is a Harbinger of Peace, Faith, Courage, and Fearlessness in the Face of Fear, that Lion is Heralding the End of an Era (and the Beginning of a New Age), and that Storms, Disclosures, and Alchemy are here.  You can tune into that here: https://youtu.be/gXQlv6EOX8E

    Please like, subscribe, and share!

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    The IAGC's Ghost Net Initiative: A Quick Dive Beneath the Subsurface

    The IAGC's Ghost Net Initiative: A Quick Dive Beneath the Subsurface

    Join Jaclyn Townsend, Alex Loureiro Ph.D. and Gabe Rolland in this discussion on the IAGC's Ghost Net Initiative.

    TABLE OF CONTENTS

    • 00:00 - Introduction to Ghost Net Initiative (GNI)
    • 01:20 - Dangers of Ghost Gear & Marine Life
    • 03:07 - Origin of the GNI at IAGC
    • 04:16 - Get Involved!
    • 05:15 - Positive Impact of GNI
    • 06:21 - The GNI KPI & Supporting the Initiative
    • 10:53 - Has Ghost Net Changed Marine Operations?
    • 12:17 - Minimizing Marine Impact
    • 13:34 - Centralizing the Effort

    EXPLORE MORE FROM THE EPISODE

    Mastering the enterprise deal with Evan Kelsay

    Mastering the enterprise deal with Evan Kelsay

    Enterprise deals are complex, Seismic's Evan Kelsay shares the secret to winning an enterprise deal. 

    Winning over the prospect is only half the battle, enterprise deals are as much about selling your internal stakeholders as external. 

    Evan and I take a tactical deep dive into everything from prospecting to deal negotiations in this episode. 

    It's a can't miss!

    Find Evan on LinkedIn https://www.linkedin.com/in/evankelsay/

    Find Sesismic at http://seismic.com

    Research to the Rescue

    Research to the Rescue
    Can earthquakes be predicted? Can robots assist in HAZMAT disasters? How can wildfires be prevented? How can we stop flooding? It's research to the rescue: Smart Walls, robot responders, wildfire cocktail & seismic signs! And it's all here in episode 42 of "4 Awesome Discoveries You Probably Didn’t Hear About." WHO DID THE RESEARCH? Smart Walls Construction https://www.smartwallsconstruction.com Dr. Jorge Cueto and Anthony Nesci How Squishy Robotics created a robot that can be safely dropped out of a helicopter https://techcrunch.com/2019/04/18/how-squishy-robotics-created-an-robot-that-can-be-safely-dropped-out-of-a-helicopter Squishy Robotics, Inc, https://squishy-robotics.com UC Berkeley, Berkeley Emergent Space Tensegrities Lab Wildfire Rx: Where medical science meets wildfire prevention Dr. Eric Andrew Appel and Dr. Anthony Yu, Stanford University LaderaTECH, https://www.ladera.tech Perimeter Solutions, https://perimeter-solutions.com Small quake clusters can’t hide from AI Rice University

    Beyond the Well Log: Production, Forecasting & Completion Data

    Beyond the Well Log: Production, Forecasting & Completion Data

    In the final episode of Beneath the Subsurface Season One, we're focusing on Well Data Products and the full gamut of subsurface intelligence that can be gleaned from leveraging Well Data with Seismic. Caroline Brignac sits down with Jason Kegel, Ted Mirenda and Katie Fearn for a deep dive into the evolution of well data and how it’s used in today’s workflows.

    EXPLORE MORE FROM THE EPISODE

    TABLE OF CONTENTS

    00:00 - Intro

    01:42 - Evolution of Well Data Products at TGS

    03:25 - Production Data & it's Uses

    07:38 - Production Data and Thesis Work

    09:09 - Longbow: A Well Performance Visualization Tool with Analytics

    12:08 - What is Well Performance Data Used For?

    15:04 - Validated Well Headers & Interpretation

    20:26 - Well Logs and Production Data for Students, Interns & Early Career

    22:30 - Historical Production and Well Data

    24:43 - The Marriage of Seismic and Well Data: Interpretation

    26:48 - Historical Data and Microfiche?!

    29:44 - What About Offshore Well Data Products?

    34:34 - How Much Gulf Of Mexico Data Does TGS Have?

    39:00 - Seismic or Well Data... Why Not Both?

    40:20 - Analytics Ready LAS Data (ARLAS)

    43:49 - Eye Opening Data for Early Career

    48:48 - TGS Projects & Careers

    51:37 - Conclusion

     

     

    EPISODE TRANSCRIPT

    Caroline:

    00:12

    Hello and welcome to Beneath the Subsurface a podcast that explores the intersection of geoscience and technology. This is Caroline Brignac from the well data products group at TGS. In This episode we'll explore our well data products and how they prove to be critical datasets for any exploration and development program. So go ahead and we'll get started with introductions for today's podcast. We've got Jason Kegel with us. Jason why don't you to tell us a little bit about yourself?

     

    Jason:

    00:39

    Sure. My name's Jason. I work with the geology group here at TGS. I'm a geologist I've been here for six years. I work pretty closely with our well data products and our seismic products.

     

    Caroline:

    00:50

    Awesome. Thanks Jason. We also have Ted Miranda with us. Ted, why don't you tell us a little bit about yourself?

     

    Ted:

    00:55

    Sure. Thank you. Caroline. Ted Mirenda. So I'm with TGS. Well, data products group. I've been here for 10 years now. A primary task was to bring production data to TGS and commercialize that product. It's been a lot of work and exciting.

     

    Caroline:

    01:12

    That's awesome. I'm really excited about having Katie with us. She's a production geologists for a super major. Katie, welcome. Why don't you tell us a little bit about yourself and your experience with TGS.

     

    Katie:

    01:21

    Thank you, Caroline. I am a recent graduate school graduate and I loved my time at TGS where I got to use Longbow and R360 and then I carried those things that I had learned and into my schoolwork in grad school and it's been awesome.

     

    Caroline:

    01:39

    So Katie, you started with us as an intern, correct?

     

    Katie:

    01:42

    Correct.

     

    Caroline:

    01:42

    That's awesome. Well, we're really excited to have you here and talk a little bit about what your experience with TGS, our products and how you use it in the industry. So one thing that we know a lot about TGS is that it's known as a seismic company. However, TGS offers a wide range of other products such as products in well data. Ted, would you mind telling us a little bit about the well data products division and how it's evolved over time?

     

    Ted:

    02:07

    Sure. I guess we can step back to 2002 when TGS officially acquired a little company called A2D that gave A2D's the resources to further go out and I believe in acquire Riley's electric log inventory. So that led to the largest commercial well log library. Other resources that TGS provided or enabled was the ability to digitize hard copies and raster logs to LAS. And that library has grown over time where I came into play now 10 years ago after growing the LAS library TGS made the the decision to what's next with well data, well, let's bring in production data. That's when I came into mix. We started building our production data library up. It's been a long challenging project, but it's really paid off. One of the things that critical decision we decided to do was not acquire any production data assets, but build that data from the ground floor up. That meant more work. But in the long run, it's a more valuable product.

     

    Caroline:

    03:25

    So when you talk about production data, what exactly are you talking about and what does that look like?

     

    Ted:

    03:30

    Well, we're talking about the full historical production record of every well in the United States. So when you think about different pieces of information that our clients use and need what the well has produced, the reservoir fluids captured from each wellbore is about as important a piece of information as you can have going forward. So we capture that information, really important to tie it to the proper wellbore and a really detailed well header record. There's a lots, a lot of other processes that we do with that as well to then provide the data to our clients.

     

    Caroline:

    04:16

    So we know that we have, Jason has some experience as well as Katie with this dataset. Would you mind telling us about how you guys use it in your role in the industry?

     

    Jason:

    04:25

    Sure. So I know at TGS we use the production data quite a bit, looking at our different mapping projects we have. So when we look across the entire, especially United States and look for new areas to shoot on shore seismic, we like to have a really good background information on what companies are actually producing, how much they produced in the past. Can a lot of times tell you where the, where the new plays are and it's always been said that where you found oil before you'll find oil again. And that's been proven over and over again. When we look at the Permian basin, which has been producing since, you know, the 1910, 1920s and today it's one of the biggest basins in the world and we're still finding oil there. So it's nice to really see those historical records of production and where people have gone. On top of that, the Longbow database gives you completion information so you can start really seeing where exactly within the geology has been drilled and how they have done it. So you can get some engineering insight into that as well. Over the years at TGS we've brought all that together to really start looking at new areas where clients want to go and where we can start bringing them seismic.

     

    Caroline:

    05:34

    So Katie, we knew that you started off as an intern here at TGS a few years ago and we know that you worked with Jason on his team to help sort of guide where we'd go next with our products. What was your experience with the production dataset and Longbow?

     

    Katie:

    05:48

    So I used the production and information during my project, both at school and at during internship to help me understand the reservoir better so that I could clear up any uncertainties that I was curious about. So for example, I use production data during my time at school to help me understand if there was any reserves left that were not taken out.

     

    Ted:

    06:19

    Yeah, I know a lot of our clients then use that data to look for bypass opportunities. Another one of the many capabilities of leveraging production data. Jason talked about moving into the completion data side of what we call completion data. Kind of led that evolution. You know, horizontal drilling, unconventional tight reservoirs, fracking, I mean that led to a whole new need for different attributes captured about a well record. So we identify those pretty early on. I had been collecting those and now provide that kind of information to our clients. Not just perf intervals. What is the, what is the producing interval subsurface depth, but the length of the lateral that's being completed and produced correlating production rates, any U R S 2000 foot laterals, another way to really do better well economics and evaluation of assets. So it's, it never ends, you know, the data needs are constantly evolving and changing as industry changes and we follow that path.

     

    Jason:

    07:38

    So Katie, you said that you use some of our production data with your thesis work, correct. And that was in the, in Louisiana, the Tuscaloosa Marine shale, right?

     

    Katie:

    07:47

    Yes.

     

    Jason:

    07:47

    So the Wells and the data that you used there, were they mostly conventional Wells or where we also tried to look at some of the unconventional Wells there too, to define that play that you are looking at.

     

    Katie:

    08:01

    Right. So I would say the majority, I also focused on the lower Tuscaloosa, which was mostly conventional Wells.

     

    Jason:

    08:09

    So those Wells, they helped you define that play area and then you had to go deeper and deeper into the log data. Correct. Trying to see exactly what the formation was made up. And you did a sort of a real exploration study of that lower Tuscaloosa Marine shale Longbow helped you kind of understand exactly where the production had become historically and where it might go now and where, where people are drilling currently in the Tuscaloosa Marine shale.

     

    Katie:

    08:39

    Right. And we also did that with the Austin chalk too. That was another one of our big projects.

     

    Jason:

    08:44

    Right. And then when you, in the group that was here all from the university of Lafayette worked with us, we also looked up into the Haynesville and looked at some of the smack over units using Longbow quite a bit, looking for trends in conventional plays historically and then seeing where those went unconventionally and if Longbow is the, the main generator of the majority of that data.

     

    Caroline:

    09:09

    So for those of you listening in who may not be familiar with Longbow is that is our our visualization tool that sits on top of our well performance database. Ted, would you like to add to that?

     

    Ted:

    09:19

    Yeah, that's right. So you know, production data is a fairly complex data model, right? So you need a tool to search and search your way through that data library, identify Wells that are appropriate to your project assignments so Longbow started out as really as that initial search engine. Hey, you're connecting to almost 5 million Wells, right? In a cloud based database and you're typically going in your assignment, you're going to identify subsets of Wells based on location, geology, formation, operator assets. Hey, examine these assets that are for sale and tell me if it's worth it, right? So Longbow provides that search engine. However, over the, the years and the time, we've incorporated quite a bit of analytics into the search engine. So we're really proud of that. It's if you can think of having a search engine connected to a live database of every well and include analytics, make a bubble in contour map on six month cumulative by zone, you know, all that in one. It saves time. So it's been exciting. We've had great feedback from clients and we are really focused on, Hey, what do our clients want? That's what we put in

     

    Jason:

    10:46

    When you go. When you talk about analytics Ted, what has been the biggest benefit of forecasting for Longbow?

     

    Ted:

    10:54

    Well, okay, so that is another good point. Production data being the historical production for the wellbore. Again, the reservoir fluid produced once me and my team, I felt we were comfortable and really good at acquiring that data. I always wanted to move into the forecasting realm as well. So we have added to the, to the product feature every single month. Now every, well all active wells get forecasted to their economic limit, giving our clients quick access to EURs. So from that perspective, I can look at historical data for an example like Katie gave about looking for bypass opportunities. Where did prior operators leave hydrocarbon in the ground with forecasting, I can look at, okay, what's the total proposed value of an asset? How much is that asset going to produce? How much remains that's already there in the, in the analytic tool. So, and again, the different analytic tools include besides mapping, probability graphs, scatter plotting and charts. It's the full gamut.

     

    Jason:

    12:08

    So we have, Katie who has worked with this data as an intern. I work with this data internally with project development and sales. And then I know that I've gone out with you before and we, we sell this data, we try to give our clients opportunities to use this data. Are our clients, strictly exploration type geologists or engineers or do we have other sort of venues where this data's important in the oil and gas industry?

     

    Ted:

    12:36

    You know, that's a good point. I mean, our clients cover all those gamuts. You know, one thing, again, with production data, it's a valuable piece of information across an integrated oil company. Enterprise exploration, geologists exploration is of course petroleum engineering department, reservoir engineers that have to forecast production. It's really become a big tool also in the A&D world investment banking A&D world at oil companies, business development. And that's what I like about production data. Everybody finds a use and value out of it,

     

    Jason:

    13:23

    Right? And it seems everybody wants to know how long that well is going to last and where the next well is next to it. It's going to produce as much that really hard to find that information from anything other than production data.

     

    Ted:

    13:33

    And what's, you know, what's, what's recently happened and I was looking at right, or like writing a paper on this topic. But you know, right now, most of the think tank forecast for supply, they're all like redoing those and lowering them, you know, the Unconventionals. And we, when we started doing our forecast models, we realized that the horizontal Wells had to be looked at differently. And the decline rates on those, those Wells now are, what would I say, exceeding what we thought they would be.

     

    Ted:

    14:08

    We had this, you know, unconventional production had made perhaps a real the world with the real comfortable setting of endless oil supply and and you see the think tanks now readjusting those forecasts. So our model changed as well. We're looking at studies and how long Unconventionals are really going to produce and readjusting the EURs. And does that also have quite a bit to do with parent child relationships and how they're stacking Wells within the reservoir? It does, and right now that's what everybody's trying to figure out. That is really challenging looking at spacing, refracking spacing, how does another child affect the, the, the parent well and etc. What is the proper spacing that we try and provide the data to our clients to help them do that?

     

    Jason:

    15:04

    Right. And in some of those cases you said before with our header products that we have, that really has led to Delineating some of the production data with the validated well header. Can you explain a little bit more about how the validated well header helps understand different laterals and how that traces back to production?

     

    Ted:

    15:25

    Yeah. Yeah. And that's that's another key point, I think what was attractive to building production data here at TGS? You know, you go out and collect production data and for the most part, I mean, when you're getting public production data, the reality is that data is really coming in at a surface level. I mean, what does the state regulator care about? They just want to know how much did operator produce. So your severance, you're paying severance tax below the surface, they're not so much concerned about which zone is that coming from in which borehole? So here at TGS we have, we can leverage our validated well header dataset, which is our proprietary header where we've gone in, looked at the subsurface and identified missing boreholes. So we are in the process of tying our production data now to that validated header. So really moving production data down to the, to the, what we call the 12 digit API level. And that's really making a difference to our clients.

     

    Jason:

    16:39

    I know it's helped internally where we've gone used the perforation information.

     

    Ted:

    16:43

    That's right. Yup.

     

    Jason:

    16:45

    And actually track the perforations. And I'm not sure if you, you might've done this with this, some in your internship, Katie, where we looked at the perforated intervals on the Wells and then when we are doing our cross sections, we would actually see exactly where the perforations were and see where that oil was coming from. And that helps in a lot of situations in basins where you, you don't know a lot about the basin or you're going somewhere new and you're mapping and we'd see, you know, you'd see the Austin chalk and the Buddha and the Eagleford and you try to wonder, well, where exactly in those formations are they getting the oil from? Without those perforations that we'd got from Longbow, we couldn't truly track that back. We've been doing that more and more with the help from interns when you were here a few years ago and also with our newer interns to, to really try to understand that and then provide that on another level through R360 to start understanding where these Wells are actually producing from, which in some states they don't, they don't provide that information.

     

    Ted:

    17:42

    That's right. And that that really is a really neat project. I know for me and my team at the, and Ted talking about the production data, leveraging Jason and the geoscientists and the interpretation type work you do on your workstations where we can take our production, our perfs, you guys load it in, match it up with the LAS, correlate that production to the actual producing zone. It takes a while to do that, but we're doing that in projects going across different basins and it's really exciting.

     

    Jason:

    18:15

    No, it's been, it's been very valuable for us that in some of the test information that Longbow has also has in some states like Oklahoma and Texas, let's say, they don't have produced water for a lot of the production. So the only things that you can look back are some of the actual, that the test data that you have where you can find that water. And then a lot of these areas where you're running analytics on some of these Wells to see when they watered out or how much water they have per volume of oil. That's the only place you can get it. And then when you max that match that back to the perforated interval, you can really start understanding some more about those horizons and how much oil or how much oil you have left, but also how much water you're getting out, which is a huge issue right now with a lot of the unconventionals is water not only how much water you're putting in to stimulate if that's what you're doing, but how much formation water you're actually taking out and that could be a, that could be that the factor in having a well that's a good well or not good at all.

     

    Caroline:

    19:19

    So I know we've touched on production data and the well performance database that TGS offers, but TGS also offers other data like well logs, various types of well logs our validated well header that Jason just mentioned. Katie, I'm curious about your experience as a student getting data from TGS. Can you tell us a little bit of what that was like and how you use other well data with production data to help solve some of the, the issues you guys were running into?

     

    Katie:

    19:48

    I'm sure. Well, TGS was really helpful because like Jason said, if Jason and Ted said to the state, you don't have to provide good data to the public. So TGS' well logs, their production data was far superior to anything that I saw. So it definitely helped not just at school cause I use this product at UL but I also got to use it in our projects. So it made the uncertainties that were, we were curious about less uncertain. Right. Cause the subsurface is always uncertain.

     

    Caroline:

    20:26

    So to follow to build on that, Jason, how do you, how do you work more with well logs and production data together, especially when you're working with a group of young interns like Katie and her, her fellow interns

     

    Jason:

    20:39

    Well one of the things that we do in our group quite a bit is either look for for new areas or sort of redefine basins that have already had had exploration. So the main thing we do when we do that as we get as many well logs as we possibly can. So that's the, the LAS that we have for those areas. Working for TGS is nice because we have access to quite a bit of data. So we pull all those together and we start just doing cross-sections and fence diagrams and make picking our formation tops so that we have a real good general understanding of the basin. As we're doing that, we're also looking at the production data. So each one of those Wells is either a producer or not a producer or maybe it was just a stratigraphic exploration well. But the reason those Wells exist are to make somebody money. So hopefully they're all producers.

     

    Jason:

    21:32

    So we learned as much from a dry hole as we do from a hole that's not dry. That's where the production data comes in really handy cause we can see exactly how much oil they got out of that well when it was drilled, when it was plugged and abandoned. Some of the issues that might've gone on with it. So we can understand from looking at just some of the well logs themselves than the caliper per se, to see where you had the whole breakup and see where you might've had engineering issues with that well, where they might have crossed faults that might've caused to loss of production in certain areas. And we can tie that back using production to see exactly how these reservoirs work. And we can track that around better to see where explorationists, might need help delineating new fields or new areas. And that's where the seismic comes in with TGS to where we can try to get the seismic out to help limit some of these problems that were we might be seeing in some of the Wells.

     

    Caroline:

    22:30

    Out of curiosity I know that we offer a long range of historic production data. Recently we just acquired a company called Lasser that goes back far beyond the 1970s. As a geologist, would you say that having a larger dataset going back further in time is more beneficial for you to help solve problems?

     

    Jason:

    22:54

    Absolutely. So the one thing we've always ran into is not enough data, right? We always want more data. We want to see the complete picture of the entire basin. So having that data that goes farther back in time, that historic production data really helps because we have a lot of those well logs that are sort of historic historics our well logs and our Las don't stop at 1970 or earlier. The production data depending on state isn't necessarily at a strict cutoff of 1970 but that historic data really helps with that production to really start understanding how those wells were drilled. And like I said before exactly what was it producer and what wasn't producer and if it was producing, how long did it produce for? There's been lots of of technology advances that have really increased how much oil you can get out of the ground or gas you can get of the ground.

     

    Jason:

    23:45

    That's on a purely engineering basis and you can start to see that in the production data, but you can really start seeing that in some of the LAS data when you start looking at the curves and understanding some of the petrophysics behind the Wells. And not only that, you start understanding the basin. So when you look at some of these really old wells, a lot of them are really shallow just to sort of understand that's as far as they could drill to. That's where the technological limit was. But depending on the basin, some, some people in the forties and 50s had drilled all the way to basement. You really want those type of data points when you're understanding the entire basin. The deeper you understand the basin, the more history you can put into it. The more basin modeling you can do. If you can understand the basin from initial infill to present day and the erosion intervals that have been between there. We see that quite a bit in our base in temperature models, which is one of the products that we do that builds off of our LAS data.

     

    Caroline:

    24:43

    What other tools, interpretation tools do you use internally that TGS helps provide or provides to our clients?

     

    Jason:

    24:49

    Well firstly I mentioned the basin temperature models. That's one that we, we helped build and we provide to clients and that's a product where we look at the entire basin. We pick the tops in it from 2000 to 3000 Wells from the LAS. And then we do basin temperature modeling on that entire basin with grids and horizons, start understanding the the basin from completed from basement all the way up to the top and understanding the infill. We also provide other products, sort of worldwide called our facies map browser. And this is mainly offshore, but this is looking at sequence stratigraphy within offshore basins.

     

    Jason:

    25:29

    This one we also use well data and seismic data where we can and integrate the two of them to, to have a real good understanding and picture of the basin. So the geologists that use this data can jump right in to the basin and have a real good working knowledge of what's going on there. One thing in the industry, I've been in this industry for eight years now and I've seen lots of mergers and you know, lots of layoffs unfortunately with people, but groups shrink and grow all the time. And when they grow, people need to jump into new basins they've never been. So one thing that we provide with some of our well data products like the facies map browser and the basin temperature models easily help people easily get acclimated with basins they may have never worked. It's a, it's a real quick and easy way to understand the stratigraphy and understand some, some components of the basin you might not have thought about before.

     

    Jason:

    26:25

    Then we've been moving on with the basin temperature model is that the background into TOC models. So actually looking at total organic carbon within the same basin using the background of our basin temperature model and then working with core labs to really understand some of our vitrinite reflectance and core data points. So that's the new thing we're doing particularly in the Permian basin.

     

    Ted:

    26:48

    And I want to add another point on Lasser that Lasser acquisition, which was a, again, exciting for our team. Jason talked about the need for historical data. Sure. acquiring that data set. Now, the only way you could really replicate that public data is if you went to physically went to the individual railroad commission, district offices and loaded up a bunch of microfiche. So that data's digital. We've got it now. What's really neat is we're running it through our modern QA and QC processes. So adding data production volumes in Texas all the way back to the 30s, and then taking further, taking the lease level production data and allocating it to a well level. Nobody in industry is doing that right now from nobody from a vendor perspective. So that project that's ongoing and will be completed before the end of the year. Having historical production back to the 30s allocated to the well level, excited about that and proud of our team to get that done.

     

    Caroline:

    27:55

    Not to ask a silly question, but what is microfiche is that what you said?

     

    Ted:

    28:01

    I said microfiche, yeah.

     

    Jason:

    28:01

    You don't remember Microfiche? (Laughter)

     

    Caroline:

    28:02

    You're talking to a millennial.

     

    Jason:

    28:04

    I feel so old.

     

    Ted:

    28:06

    The point there is the data is not digital, it's manual, it's on microfilm. Microfiche it's lots and lots of hours of labor to recapture that data in database format. And now that we've got it, it's going to be real exciting.

     

    Jason:

    28:27

    My experience with microfiche was always in elementary school going to the library. So at the library they always had stacks of microfiche that had historical newspapers from the past and you can still find them and they're really, they're almost like little slides like you remember, do you remember what slides looked like? (Laughter) No, it's done. That's true. It's already 2020. [inaudible] There was a special microfiche reader to see them. And you flip through each one of them. But that's how they always documented historical papers. So we'd go back and have to do research projects and you'd have to go find your little microfiche from the library. And when you looked it up, you would slide through and it was like a little projector screen that read the fiche from like the little, little tiny film and scrolled through the little film. So it is almost like a negative

     

    Ted:

    29:17

    It's a picture of a document. So I'm not the only millennial in the room. So Katie, I'm gonna make a safe assumption that you did not know what that was?

     

    Katie:

    29:23

    Nope, no, I had no idea what that was, but I have seen it in movies. So thank you for that visual like connected the two for sure.

     

    Ted:

    29:31

    That's right. But that, that tells you how you know how-

     

    Caroline:

    29:37

    How hard to find it, how hard to find that data is.

     

    Ted:

    29:39

    That's right. There weren't computerized records back then, but we still need the data

     

    Caroline:

    29:44

    Absolutely.

     

    Katie:

    29:44

    So you've talked a lot about onshore, so do you offer the same kinds of products offshore as well or what do you, how does it go from onshore to offshore?

     

    Jason:

    29:58

    That's a good question, actually, because with TGS and with the amount of data that we have onshore as really dense area of log data per se, so we can do areas like the Permian, the Eagleford or the DJ basin and fill them in with 5,000 Wells and pick tops and all 5,000 of those Wells. And they all have temperature points. So we can do our base in temperature models there. Offshore, it gets a little bit more difficult because there are, the data's not so close together and offshore particularly say in the Gulf of Mexico, the geology gets a little more tricky, particularly with basin temperature models because you start dealing with more salt. You start dealing with just having the water to sediment differences that you'll- we understand pretty well, but the more well data you have, the more we can make those interpretive products.

     

    Jason:

    30:55

    So we have, sort of, different products offshore and like I mentioned before, we have the facies map browser is almost exclusively offshore because we can do that along mainly 2D lines, so long 2D lines that go over large areas and are- usually have a few wells connected to them in exploration areas. So the newest one of those is what we're trying to start now in Mexico and the Mexican side of the Gulf of Mexico where a few years ago we shot a really large 185,000 kilometer 2D survey called Gigante. So we interpreted that whole survey and we shot gravity and magnetics over it. So we actually have a gravity and magnetics model that we've built on that area that helps a lot in exploration, but we've also interpreted all the seismic to pick certain horizons. We would like to go a few steps further and actually understand your stratigraphic facies and your sequence stratigraphy that's in there.

     

    Jason:

    31:56

    And that's what we're, we're trying to do now with the Mexican side of the Gulf of Mexico. And it's a little bit easier there because there's less wells there and a lot of the operators that are moving in there since they opened up Mexico aren't there. So they don't have as big a knowledge base as they do in the U S Gulf of Mexico. And that big large knowledge base in the U S Gulf of Mexico from the operators that have been there for 40 or 50 years has really limited multi-client type interpretation studies. Because say the Exxons or the Shells or the Chevrons have been in these basins for so long, especially the Gulf of Mexico that they have the working knowledge of those basins and they train their employees on that pretty easily. So they don't necessarily need an outside company like TGS to sort of give them the boost or the the heads up or the, the first step to get into a basin.

     

    Jason:

    32:53

    Whereas in other basins around the world where we have facies, map browsers, we've had them for a while, we have new companies coming in and going more often. So they sort of like having that extra layer of knowledge that we can offer on shore. In the Gulf of Mexico though we did do a post-well analysis, which is just looking at specific wells and I think we have a little over a hundred now and they're either dry holes or or discoveries and they sort of show the stratigraphy they show why it was a dry hole or why was it a discovery. We match that up with seismic and certain areas so you can see the structures that were being drilled at the time. So we do have that. And then in the Mexico side of Mexico and the Gulf of Mexico, we have production data on both sides now.

     

    Jason:

    33:41

    So we actually have the contract with the Mexican government to provide not only the seismic but the well log data in Mexico, but also the production data in Mexico. On the U.S. Gulf, we have the contract to deliver log data. So companies that drill in the U.S. Gulf of Mexico, they actually send their log data to TGS. We hold it for the 26 month timeframe. And then we clean that data up. We provide our LAS plus package. We provide that back to the BOEM or BSCE, the government entity that sort of controls the Gulf of Mexico. And then we also provide that to any other company that would like to purchase it. So we're the - TGS is actually, we've had that contract for a little over 10 years now and we've just renewed it this year.

     

    Katie:

    34:34

    So like how much coverage do you have in the Gulf of Mexico? Data-Wise.

     

    Jason:

    34:38

    Data-wise? So all of it really. So with the, with the recent acquisition of spectrum, we now have 2D coverage that extends all the way from Florida to the Rio Grande Valley really. So we have 2D coverage that covers, there are, TGS is a seismic company. Our core seismic area has always sort of been 3D seismic anyway, has always sort of been the Mississippi Canyon, DeSoto Canyon, Atwater Valley area. We have lots of 3D seismic. We're currently shooting seismic there. We'll just finished up some new nodal surveys there and doing reprocessing. But we have 2D and 3D coverage across the whole area and well data we have all of it. We have every well that's ever been drilled in the Gulf of Mexico.

     

    Ted:

    35:27

    On the production data song for Gulf of Mexico. The data's really, really nice from that perspective. I mean every well is reported oil, gas and water, monthly production. Well tests are extensive in the Gulf of Mexico. Perhaps the federal government does a better job of reporting well test data, making sure operators are testing those Wells annually and semiannually and getting that data out to public. So you also get access to certain pressure data in there, you know, flowing tubing pressure, bottomhole pressure, et cetera. So that data sets we like working with that. And now on the Mexico side, you know, we've got full coverage of Mexico petroleum industry. There's about 21,000 Wells with production in Mexico. About 1100 of those are offshore and we have captured and calculated monthly production for all of those Wells. So that was a fun project. Learning to translate certain wellheader attributes from Spanish to English that was fun to do. Converting units of measurement down there from a, you know, average daily rates to total monthly production. Bottom line is that data's now standardized in our library monthly oil and barrels in Mexico, monthly gas and MCF water in barrels. And,looking at the data, there are world-class wells in Mexico, so I think the continued release of data from Mexico. Hopefully we'll stay on track there with the, the government releasing data. Like I said, there's there's been some really gigantic flow rates down there, particularly offshore and no reason to think there's not great opportunity there. Seismic

     

    Katie:

    37:36

    Where's your seismic that you just shot in Mexico. Where does the location lies?

     

    Jason:

    37:40

    So the, the 2D seismic that's there, the original Gigante is all offshore and covers the entire Mexican Gulf of Mexico 2D. So it covers everything and it even goes sort of around the horn of the Yucatan near Belize. So it covers everything sort of almost into the Caribbean. We've also been doing looking at reprocessing efforts to extend some of our, to extend the seismic onshore to offshore and the Sureste and Tampico areas. And then we're also looking at 3D programs as well.

     

    Katie:

    38:15

    Very nice.

     

    Jason:

    38:16

    So there's quite a bit there. And that's not the only place that we have seismic or well log data. So TGS is actually always, I always try to remind me, we have well log data worldwide. So we have data. Do you know Russia and Africa and Australia and Malaysia all over Europe. And all over South America as well. And seismic too. I sort of focus on Western hemisphere so I know a little bit more about that part, but that's still quite a quite a large area sometime. And we're we're, we're looking at wells and seismic all across, both North and South American.

     

    Ted:

    38:53

    Don't forget Canada.

     

    Jason:

    38:55

    And Canada too, we have quite a bit of seismic in Canada as well.

     

    Caroline:

    39:00

    Nice. So one question I have for the table, we know that as TGS is predominantly a seismic company, but we also offer well data. How does that, how does that really help our clients when we offer two very different and unique datasets together?

     

    Jason:

    39:19

    I think the biggest part of that is making a complete geologic picture for explorationists. So you need the seismic to really sort of understand areas where we don't have well data and that well data really helps the seismic become better. One of the good examples of that is in some of our reprocessing efforts we're doing offshore, we're incorporating as much well data as we can, particularly Sonic data so that we can really understand the velocity models. And really make sure that we can tie those velocity models when they come out and with our seismic comes out in depth that our wells tie perfectly with them. The more well data we have, the better our seismic is going to be at the end of the day. We've always tied a few Wells that we can here and there, but since TGS has so much well data, it's a real benefit to our clients to be able to use that in the seismic processing and in reprocessing as more wells come out.

     

    Caroline:

    40:20

    So I'm just curious, you know, we are now offering a new product in the well data group. That's our analytics ready LAS that basically allows us to offer even more data. How do you feel about the machine learning algorithms that we're using in forecasting or with well logs? How do you feel about using that as geologists, Katie and Jason?

     

    Jason:

    40:42

    So one of the things that we've noticed quite a bit with this is you get a really nice big picture and particularly with analytics ready, we like to call it just ARLAS AR-LAS is that that big picture of that first presentation you can get, particularly when it comes to velocity models in Sonic where you don't have seismic. So one of the great images, and I don't know if I can explain this well through through radio, but one of the great images that you can have is with regular well data you have lots of lots of holes. So we didn't drill every place we could and then every place we drilled through time, we didn't do every log we could do. So a lot of the well logs that we have, particularly on onshore might have one or two curves. They might have a resistivity and a gamma ray or some of the older ones just might have an SP curve.

     

    Jason:

    41:32

    What can start doing with AR or the analytic ready Las is incorporate sort of Sonics into all of those logs and start understanding where we have those deviations in Sonic across the whole area where it hasn't been drilled. So from a big picture, it really helps you understand how that would tie together where you might want to drill next or what might, what interesting features you wouldn't see where a well isn't drilled without having seismic. And if you have seismic then you can tie them both together as well to kind of have a better understanding of of your depth processing.

     

    Ted:

    42:13

    And I might add onto that AI question back on the production forecasting a challenge. So we're offering both methodologies now of course we have our, you know, our traditional hyperbolic curve fit type forecasting algorithms that work well and offering the physics based you know, probabilistic spread forecasting new. Your question is how do we think about that? It's like, how does the industry think about that? I know everybody's talking about it. Everyone's trying to figure it out. To me, getting a million forecast in a couple of seconds is impressive. Right? And getting that full spread on each, well a P 10 through a P 99 forecast right at your fingertips. It's powerful stuff.

     

    Caroline:

    43:07

    Yeah. I'd be really curious to see where machine learning and artificial intelligence takes TGS in the future with other types of derivative products that we end up discovering and producing and really making sure that we're getting these to the industry to reduce cycle time. So I think that's pretty cool.

     

    Jason:

    43:22

    Yeah, absolutely. Yeah, I think we're, we're already moving in that direction with filling in log curves and in the seismic side trying to understand different seismic bodies. So using machine learning and AI to serve as a tool to understand where salt is in a quicker, more timely fashion or to even start understanding easier ways to define horizons or define some amplitude attributes as well.

     

    Jason:

    43:49

    [To Katie] So you've seen our data and played with our data and hopefully in the future is you're, you know, experiencing your geology career, you'll get to use it much more.

     

    Ted:

    44:01

    I think she's just scratched the surface with our data, right. I know all that data.

     

    Jason:

    44:06

    You had the unique opportunity to use it to come into our -come into the company and see what it was like to have that much data at your fingertips. Can you tell us a little bit about how, what that was like and how, how that's different from then to school to now that you're, you're in the industry.

     

    Katie:

    44:24

    So I came into TGS knowing nothing, well, not knowing nothing, but you know, minimal. You think you, every time you start somewhere you like think you know something, but you really don't, which I've learned again third time.

     

    Ted:

    44:37

    Right?

     

    Katie:

    44:37

    So at TGS, I wouldn't say it was just, I learned how to work with all this data, which was overwhelming at first. It was like I learned how to, I don't know, act, not just like socially in an office, right? But I also learned like what's important, what's not important. It's easy to get bogged down in the details when you go from zero to 100 real quick.

     

    Caroline:

    45:03

    So you've really had a unique perspective. Especially compared to a lot of us at TGS, you started off in an internship with us getting into the data and learning the data, applying the data. Right. And then I believe maybe you've even used it in your thesis.

     

    Katie:

    45:20

    Right.

     

    Caroline:

    45:20

    And now that you're in the industry, what has that looked like for you?

     

    Ted:

    45:26

    How about, how about how do you access data being an industry now?

     

    Katie:

    45:31

    When I've looked at data, it tells me, it makes me feel comfortable. It clears up uncertainties.. It's not telling me what's going on, but at least I'd like have more of a general idea. So when I look at these large amounts of data that I get for a project, let's say like I did in grad school, it's okay, I have this data. What does the data tell me? Does it tell me if it's pinching out? Does it tell me if it's, you know, this big chunk or maybe the depositional environment. That's what I looked at a lot in well logs the petrophysics.

     

    Jason:

    46:08

    No, it's understandable. You get thrown a lot of data in these situations and it's how you put that together, how you can efficiently use it. And that's something that we're always trying to make easier for people. It helps in a lot of situations, particularly in, in super major type of companies or in a lot of different companies, even smaller companies that they have geo techs that efficiently use our data before they give it to you. Right? So a lot of times you never, you'll never get to see the first part of, you know, where did this data come from because it all just ends up on your desktop. Right?

     

    Katie:

    46:42

    Right. So like I, what I liked about my experience I guess at TGS is I saw the beginnings, right? What a geotech would put it in. So I like got to see that visual fresh or put my own spin on it when we were using Longbow. So making those bubble plots or looking at URs and decline curves. I don't have, I don't, I haven't gotten that experience yet, but I'm a Guppy.

     

    Caroline:

    47:10

    So it was like you were getting access to data sets such as the, you know, the EURs and the forecasting database that you probably didn't necessarily have access to while you were working on your masters.

     

    Katie:

    47:21

    Right. And didn't know about until it came to TGS.

     

    Ted:

    47:26

    And the ability to build that project from scratch. I imagine a lot of times now in industry, you walk in and sit down and there are gigantic projects already existing and workflows established as opposed to like starting at the beginning.

     

    Katie:

    47:46

    Right. Which is overwhelming. Like I remember Jason was like, Hey, y'all are going to map from Mississippi, Louisiana and Texas. That was very overwhelming. Now I just, you know, you get a project and it, someone's already, most of the time, I don't know picked through it. So you don't, it's not very fresh.

     

    Jason:

    48:09

    But now you're not afraid of the deep end of the pool.

     

    Katie:

    48:10

    I don't know about that...

     

    Jason:

    48:10

    Right. We threw you right in the deep end and I, you can swim. You're ready to go.

     

    Katie:

    48:18

    Oh no. I'm still learning.

     

    Jason:

    48:18

    Well that's good. Never wanna stop learning.

     

    Ted:

    48:22

    We're all still learning.

     

    Katie:

    48:22

    Right. But I'm really still learning. As a new worker bee.

     

    Jason:

    48:30

    So Katie, is there anything we haven't seen you in a little while? I know that you're, you're in Louisiana now. Is there anything that you want to ask us that you're interested in from a, from your perspective after you've graduated and are now moving onto bigger and better things that might help you in the future?

     

    Katie:

    48:48

    Maybe not something that would- maybe wouldn't help me in the future, but also help other people that are looking for jobs. Is, are y'all looking for employment? Like looking to employ anyone or what does that look like? It sounds like you're doing a lot of work. So do you have people to fill these positions or are you, how does that go for y'all? Do you even know?

     

    Jason:

    49:10

    Well, that's one of those great HR questions where, you know, we're always, we're always just busy enough to need new people. (Laughter)

     

    Caroline:

    49:20

    And I think with, you know, new departments that were growing especially new datasets like Ted is talking about Mexico and Canada, I feel like it really helps to position us to grow, you know, as a company as a whole. So opportunities are always always coming up. Yeah.

     

    Jason:

    49:36

    I know particularly with our internship program, we're always looking for, you know, young, exciting new talent that can, that can come in and help us out. But also like you did learn about data from sort of the bottom up and take that knowledge base to other companies. So we don't only like training people to come and stay with us or we're perfectly happy bringing in interns and having them go out in the world and and learn something from us that they can bring somewhere else.

     

    Katie:

    50:06

    Oh sorry. I would say that that's why I like had not, I think that working at TGS was nice for others to see cause they knew that I had experience I guess with production data, which is a cool talking point I think.

     

    Caroline:

    50:22

    And just to build off of that, Ted has done a really great job building this new initiative, which is getting our well performance data in the universities to work with people like you, Katie, while you were getting your masters to make sure that we're able to provide data to other other programs and get geologists or young geologists access to data sets that they wouldn't have or wouldn't be familiar with whenever they're entering the workforce.

     

    Ted:

    50:48

    That's right. So, you know, we're happy to donate donate our products, donate production data and Longbow to the universities. As you know, at ULL they brought it into the geoscience and engineering groups. And now we're sitting on the, what the 20 workstations in the lab and part of the curriculum. So it's exciting at the same time, giving the students access to these data products learning actual, you know, working product tools. When they do get hired and hit the, hit the workforce, they're ahead of the game and ready to go. Now, from my selfish perspective, it helps to get feedback and make the products better. So it's a win win for both.

     

    Caroline:

    51:37

    Well, thanks everyone for coming out today and having this conversation, you know, hanging out, covering a lot of really awesome topics, kind of, you know, exploring where TGS is headed next, where we've been, where we're going. Katie, you know, especially thanks to you for coming all the way from New Orleans to sit with us and kind of give us your insight and your opinions and let us know how it's, how the journey has been for you. So thanks, Jason. Thanks Ted looking forward to the next, the next episode.

     

    Katie:

    52:01

    Thank you for having me.

     

    Jason:

    52:03

    Yeah, thanks Katie, it's been great

     

    Ted:

    52:04

    Thank you.

    Unlocking Latin America

    Unlocking Latin America

    In this episode of Beneath the Subsurface we're focusing on Latin America and how the recent Spectrum acquisition has enriched and expanded TGS' data library. Erica interviews Richie Miller and David Hajovsky, our experts in this prolific region. We'll explore the hottest regions in the South Atlantic margin as well as the bidding climate in Brazil and the path forward for data and technology investments.

     

    TABLE OF CONTENTS

    00:00 - Intro

    01:20 - Geopolitical Climate in Mexico, Argentina, Brazil

    07:12 - Frontier Activity in Latin America

    10:28 - G&G Technology Applications

    12:22 - Equatorial Margins

    15:02 - Investments in the Region

    16:47 - Brazil Bid & Licensing Rounds

    19:58 - Identifying Leads

    23:54 - Data, Beyond Seismic - Geological and Geochemical

    26:38 - Old Technology, New Applications, New Techniques

    30:00 - Predicting New Plays

    34:27 - Conclusion

     

    EXPLORE MORE FROM THE EPISODE

     

    EPISODE TRANSCRIPT

    Erica Conedera:

    00:00

    Hello and welcome to Beneath the Subsurface a podcast that explores the intersection of geo science and technology. From the software development department here at TGS, I'm your host, Erica Conedera. This episode we're focusing on Latin America and how the recent Spectrum acquisition has enriched and expanded TGS' data library. As you'll hear, Spectrum brings not only a strategic library of seismic data, but also a team of proven and qualified experts in Latin America. We'll explore the hottest regions in the South Atlantic margin as well as the bidding climate in Brazil and the path forward for data and technology investments. I'm really excited today to be in the studio with Richie Miller. He ran things in Latin America for Spectrum and David Hajovsky, our VP of Latin America. So we're here today to talk about how the spectrum acquisition is adding value to our library of data in the Latin America region. So to start off Latin-America is a huge region. There's plenty of geographic diversity there. What are some of the hallmarks of the industry in this region?

     

    David Hajovsky:

    01:20

    Yeah, well, I think first off, I guess, thanks for having us on here. It's a pleasure to sit here and kinda talk about something that I know Richie and I have both been working on for for a number of years now. I think for me, when I look at Latin America one of the big pieces is the kind of geopolitical ups and downs. You see where markets open markets close and it makes it complicating and interesting when it comes to trying to find the right way to invest there. I think a good example of that is Mexico. It's a market that had been closed off to foreign investment for over 70 years. And during the energy reform, it opened up and you had a lot of multi-client activity both from a spectrum and TGS. And now under the new administration you're seeing things take a turn in the other direction. So it's, it's interesting to kind of see how these things evolve and go and how it makes us manage and be very insightful about our business and how we make our decisions.

     

    Richie Miller:

    02:21

    And I think we're still real positive on Mexico. It's a huge footprint and the government's indicating they, over the next couple of years, they may move forward again. Like industry wants, it's a great opportunity there. And, we're, we're in a great position.

     

    David Hajovsky:

    02:37

    Yeah. And I think when you look in Mexico as an example on that, we're still seeing, despite some of the political rhetoric, when, when a more nationalist government gets in office, the exploration that's currently moving forward is still moving forward. You're still having seismic shot, you're still having wells get drilled. So that momentum is still carrying through. And, and that's the thing about our business. It's a long term business. So everything there, we typically ride out all political cycles. So it's just a matter of timing on how that happens.

     

    Richie Miller:

    03:07

    Yeah. And it's even longer for the, for our customers in the E&P world, they, they look at, at, at decades where we seem to be tied into a four to six, eight year cycle similar to Argentina. I mean, in Mexico, we have an election coming up in Argentina. But the talk to the, our customers, there's not a big concern. We may see a government flip there but it's longterm we're positioned for it. And I think it'll work out just fine.

     

    David Hajovsky:

    03:37

    Yeah, I think that brings up a, I mean we were both down in Buenos Aires for the ABG international conference. It's a conference of petroleum geologists and certainly I would think we both agree the, the views and the rhetoric coming from all the oil companies there who are our clients was very favorable, very positive on kind of longer term investment outlook. So this makes us feel optimistic about the region. And then just the business in general.

     

    Richie Miller:

    04:03

    Yeah, that's- and companies like Shell and Chevron, et cetera. They've been in country for quite a long time when there was a different government in place and different price controls. They're the same companies that came in and picked up blocks offshore. Not Chevron, but Shell was pretty aggressive. Yup.

     

    Erica Conedera:

    04:22

    What do you see happening with round two in Argentina?

     

    Richie Miller:

    04:25

    A round two is, is pretty exciting. So we have an election coming up. First elections actually late October. The way that's gonna work. If no one gets a majority, then there'll be a runoff in November. We understand from the government that they're going to announce this round the first week of November to open up in April and close in October. That works out real well for us because it hits this budget year cycle for our customers that are looking for some end of year deals. We've had the data that we'll be ready in February that's going to be in the Colorado basin that will be on that round. After the first round, we've seen more interest from, from industry that have come in and, and picked up some data. We even with the uncertainty in the election, we think round two is going to be a bigger, a bigger deal than round one, which was obviously a huge deal for the Argentinian government.

     

    David Hajovsky:

    05:22

    I think it's one of the things that it's an observation we have, that on that initial round. A lot of the players that end up participating are companies that have some sort of presence in Argentina already. You have a few new players that come in from the international space. But once you get that hub and you have some of that acreage, it makes the investment point that much lower. So as you move into around two companies that already have an established position are able to be more aggressive as they go forward. And because of the success of round one, we're also introducing more international applicants coming into to attract it. So it kind of builds up on itself, builds a scale that we need. And I think that kind of goes to a lot of the rationale behind the, the merger between Spectrum and TGS is prior to this, TGS would not have had the same type of conversations or the same position. But Spectrum has done a fantastic job of understanding the above ground environment and understanding the below ground potential and moving on that and allowing us to, to now work together and try to build a, a better position.

     

    Richie Miller:

    06:21

    What the ministry has indicated is they've put sectors out that cover the Colorado basin, the deep water area of a Southern area of Argentina as well as the ultra deep of the Northern and Southern parts of Argentina. So they've asked for the E&P business or industry to nominate specific areas. And a real positive thing for TGS is we've got that area completely covered with new data. It's really the only data that's out there to, to help with this round. It's just in this round. So they've also asked us to do some of our G&G work and, and nominate areas based on what we think is prospective. The good thing about our businesses is everybody has a different idea on prospectivity and that's why we see different companies bidding on different areas. And that works well for us.

     

    Erica Conedera:

    07:12

    So looking at other countries in the region, certainly Brazil has had a lot of activity, but what other countries do you guys have eyes on right now?

     

    David Hajovsky:

    07:18

    Well, I mean, a big piece of the market for, for both Brazil- I mean for TGS and Spectrum was Brazil, Argentina and Mexico. These are the big kind of established markets where you have a lot of investment already from our client's side and kind of justifies us being there in that way. We're always looking and screening all the other potentials that could be there. You can go down the list. I mean, what we're seeing right now, offshore Guyana where Exxon and now Tullow have had just a string of discoveries. It's really opening up new ideas and play concepts, not just for Guyana but along the entirety of the margin. And so I think that's, those are sayings that we watch out for in, from a business development point of view and try to understand how can that concept be an analog somewhere else that we're maybe not currently working or are currently working and trying to build up a new narrative to attract industry.

     

    Richie Miller:

    08:14

    Yeah, there's a, I think Apache's just spudding a well in Surinam, and it's right next door. So hopefully that will, will lead to more success for that that basin. There is a data footprint for the companies for TGS in Barbados and Trinidad. And we understand BHP moving forward with a potential well in Barbados. That's not been confirmed yet, but that's, that's positive at different play type. But there's always the thought that maybe the, the Cretaceous wonder basin underneath Guyana extends underneath Trinidad and Barbados. So there's a lot of activity and looking around in that, in that region right now it's pretty active.

     

    David Hajovsky:

    08:55

    And when you say, I mean, that's, that's to me been a key insight into the business and in my short time in the business is that new data opens up new ideas, new concepts. A lot of these places have had acquisition or seismic acquisition for 30, 40 years. And it's when you come in with new technologies and new ways of, of trying to acquire this that you can get different concepts and ideas that come out of that and that, that starts the whole new process of, okay, next round of exploration. Here we go.

     

    Richie Miller:

    09:26

    And that's really true for Trinidad, that there was a lot of MC activity in the 90s and early two thousands, and it's just been dead. Now there's they're L&G outputs going down there looking for new exploration. So there's opportunities and it could be reprocessing, et cetera. But you're starting to see more companies BHP, BP, Shell, all drilling new Wells to try to increase that gas production there. You know, gas is our future. So it's, it's Trinidad's working towards that.

     

    David Hajovsky:

    10:02

    Yeah. Especially areas like Trinidad where you have a a hundred plus years of production in place, you have a lot of legacy infrastructure. So the cost to get that to a economic point is much lower than being in a ranked frontier area for something like that. And it's for that reason that you do is, as Richie mentioned there, these companies will continue to invest in and explore there.

     

    Richie Miller:

    10:22

    Yeah. And Barbados is a great place to go visit for oil and gas. So

     

    David Hajovsky:

    10:26

    Yeah, I can imagine. Well, if got your Barbadian shirt on.

     

    Erica Conedera:

    10:28

    So you had mentioned, using other G&G technologies in the region. Can you talk a little bit more about that? What exactly we're using? What's exciting to you?

     

    David Hajovsky:

    10:39

    Yeah, so a lot of we tried to think about, and we, we interact a lot with our clients, try and understand what are the tools that they need or what are the types of data they need in order to de-risk these positions and decisions. And, you know, historically 2D seismic is your, is your frontier tool. You go in, can acquire regional grid at a relatively economic basis. It allows for large screening and then you'd move on to 3D seismic to go beyond that. But I think TGS, in recent years we've taken an approach of looking and introducing different technologies. So for example, we've been working with multi-beam and coring data to try to build a larger geochemical database. So we have the geophysical database and now we're building up the geochemical database and you integrate that data in and you're able to update your geologic model. And these are the sorts of tools that, that explorers who are our clients can then utilize to better de-risk their position in decisions.

     

    Richie Miller:

    11:37

    Yeah. One of the I think both companies (TGS & Spectrum) or one company now, that we is, how do we generate derivative products to generate additional revenues off of these, you know, some of the legacy surveys. And I know that a, we were working on some different potential fields, products in Latin America. It's still trying to get traction with, with these, E&Ps or some exploration products. The, you know, then you add in the multibeam products and things like that. It's really what do the customers need and what will they pay for. And, and we're starting to get, go down that path to find out what's gonna work and what won't work.

     

    Erica Conedera:

    12:22

    So David, you had mentioned Guyana and activity in Brazil. Can we go back to that a little bit?

     

    David Hajovsky:

    12:27

    Yeah, I think in part of what we see when, when all companies are having the type of success they're having in Guyana and testing play concepts successfully in testing new concepts, we didn't think about where those analogs might be. And I think one of the areas that we think has a lot of untapped potential is equatorial margin Brazil. So we were just going further down the coastline really. And, and one of the issues we have is you've had some very successful license rounds up there. You've had some seismic shot and certainly one of our plans is to continue to invest on a geophysical data because we feel it's needed, but we need to see some drilling activity. And that's been one of the slowdowns in the ability for the Brazil equatorial margin and truly get unlocked is from a permitting point of view, regulatory point of view. It's been very slow process to get Wells permitted and then drilled.

     

    Richie Miller:

    13:21

    Yeah. That too. To move to the next phase we need wells drilled in an equatorial margins. We've been working with the government on that. The government knows that the oil and gas companies and our customers are working towards that. We understand that a, there's, there's two, two big permits that the industry is watching. It's a BP permit and a Total permit. And, in the Amazonous region, we understand those permits are very close. We anticipate seeing a well drilled there next year sometime. Well let's hope that moves forward. Those leases were granted in 2013 so they should be onto the second phase of their exploration period, which then they ended up dropping some of that acreage, which spurs our activity in sales in the, in the data there we own that area of, of Brazil from French Guyana around the corner to Potiguar.

     

    Richie Miller:

    14:15

    And I think we've only seen seen two or three Wells drilled since that round. And there's been a couple of rounds since then. There was 14 or 15 with some scattering of acreage. But to really take advantage, Brazil needs to get these Wells drilled and, and they know it. They, there's a very large push within the government. You know, it's a relatively new government administration and, and they have license rounds that are scheduled out through 2021. We'll see a lot of acreage taken. But again, I go back to, we have to have Wells drilled and that's what part of our, our whole strategy in Brazil with the, with the team we have working there is to work on the political side as well.

     

    Erica Conedera:

    15:02

    So from what I'm hearing, you're not seeing a lot of investment in the region. How does that impact your own investment in the area?

     

    Richie Miller:

    15:10

    Well, there actually is a, some investment from TGS coming up in the equatorial margins. The, the pioneer, which is a, a BGP vessel that's worked for us for quite some time. It will be mobilizing into the Para-Manhao area of Brazil in early November. And we're going to acquire about 10,000 kilometers. It's an infill program of one of the Fugro surveys we've picked up. We're starting to see movement in our in our client base on, in that area. And it's a sector and round 17 is right in the middle of it. So we'll, we'll acquire this survey. We'll have it processed to be available in probably April of next year. So it is a continued investment. It's also an area that, that we see some lookalikes to the Guyana plays the Ranger and, and also Liza discoveries. It's pretty exciting that that Brazil can can have instead of the salt basins that, that is very prolific as we, we, we see the opportunity for a whole new oil and gas province to open up. What about a consultant named Pedro Zalan it's been doing quite a bit of work up there and he's he's working on a new area there right now that we will be presenting at an exploration seminar that, that we have scheduled for November 7th here for our new venture customers. So we'll during that seminar we'll be showcasing really an Atlantic Margin portfolio of projects and and he'll be speaking at that.

     

    Erica Conedera:

    16:47

    So you guys mentioned bid rounds in Brazil. Can you explain how these bid rounds work for those of us who are not in the know such as myself?

     

    David Hajovsky:

    16:54

    Yeah. So so Brazil's a, an interesting place. They actually have a number of different types of, of contracts that they offer up in these bid rounds. So they have what they call concession licensed rounds. So these are areas that are outside of the, the salt basins. Back in 2010, Brazil, after having some of these massive pre-salt discoveries, the government made a decision to kind of hive off an area that they call the pre-salt polygon. And within that area, a new acreage opportunities were kind of pushed to the side and for the time being, and outside of that is where you could get acreage if you're an outside investor starting in 20, well, they've, they've gone through a multitude of different things. But starting in 2017 there had been a hiatus on rounds and Brazil brought them back in a big way. So the concession license round means an oil company enters into a concession contract where you just pay a royalty fee. Inside of the pre-salt polygon, they offer up what they're called production sharing agreements. And so what companies are actually bidding on is profit oil that they would pay to the government. So as they move into production, they agree to pay X percentage to the government as a result. So it's just different mechanisms by which the government is able to recoup some of their, their resource or, or monetizing their resource. I should, I should say.

     

    David Hajovsky:

    18:16

    And Brazil is also introduced to a new thing called the open door policy. So open round and effectively like a lot of open door policies, companies can come in, review the data and we have some of this data that we're reworking right now to try and promote that. But then they would put an offer on a block on a given set of minimum. And then if nobody counter bids and they're able to take that acreage. And what this does by having these very different round mechanisms out there, you have a multitude of, of companies and players that come there. So for the pre-salt rounds, which are the production sharing contracts, you tend to have a very large IOC. So the international oil companies some of the larger national oil companies because these are very capital intensive investments. You need to have a big balance sheet and a big portfolio enabled to do that. On the concession rounds you'll see the same mix of players, but you also introduce some of the more independent companies, so a little bit smaller and more exploration focused and they're able to get some of the, the acreage that's away from the salt basins.

     

    David Hajovsky:

    19:17

    So a little bit lower value point in terms of getting acreage access and if they're able to work that up and do it in a way that is accretive to their portfolio. And with the open door policy, I think Brazil is really trying to push to even another tier of players to bring smaller companies, both local Brazilian companies and international companies to help diversify the mix of, of players that you have in the place. And so for a company like ourselves, we try to provide data that's going to target all, all three of these. And having a larger client mix is always a good thing. It allows us to take more risk and allows us to feel comfortable with taking that risk because there's more need for the data products that we create.

     

    Richie Miller:

    19:58

    It's encouraging that we're seeing a new entrance into Brazil. And just recently within the last quarter, we've seen, two new companies come into license data that, that are currently not players in Brazil that is very positive compared to some other other areas in the world. But they're looking for these smaller opportunities, like David said, on the, these permanent round blocks. And we have every permanent round block is covered by some sort of TGS data, legacy data, some of the new data that, that we've acquired. And extremely positive. They, they're coming to us. There's nowhere else to go to right now. We're working in this data where we have a G&G group in the Houston office here and also over in Woking that that help with identifying leads on this data that help us push out to clients. So traditional way of just selling the data in a line by line basis based on the line quality, the data quality, we're taking that a step forward and, and developing leads by a group of explorationists. These are people that have worked with oil and gas companies understand what oil and gas companies are looking for. And that's what we're being, we're, that's what we're pushing out to market right now.

     

    David Hajovsky:

    21:14

    And I think one of the interesting things that we see on that front historically for these sort of G & G value add products the, the client mix for that are tend to not be the super major clients. They have their own internal staff that will work and do that. It's kind of into their, their value point. But it's typically made for companies, smaller companies that may not have the resource for that sort of staffing or certainly some of the national oil companies who like to have different viewpoints and perspectives. But I think what we see now in today's world, even the super major clients see value in what we're providing there. And I think a lot of that is kind of based on the quality of, of the, the staff we have and the work effort that's being put there. So it's a, it's certainly helped us to better understand what our client needs are and the way they're kind of thinking about problems and allowing us to better address those problems in a way.

     

    Richie Miller:

    22:06

    Yeah. And I, I think it's, it's also on the investment side. We're, we're saying new ideas based on, on the data that's been interpreted that helps us develop more programs and, and make those investments that we have planned over the next few years in Brazil. And Brazil is open for business and we're going to hit it in a, in a big way. We speaking to the rounds on round 17 we've just completed a, a Potiguar 3D survey. It's about 10,000 kilometers and there's, in round 17, which will be next year. There's about 4,000 kilometers of that. That's over open acreage that we're seeing companies that are, they're interested in that. It's, it's gonna provide that, that opportunity for the industry really, and we're not seeing that much in Brazil, but they're going to have 3D prior to the rounds. Versus the, just the 2D portfolio.

     

    David Hajovsky:

    22:59

    Yeah, I think that was one of the things that that we've tried to do is, I mean, as a, as a geophysical contractor, we want to make sure we can provide the best quality data ahead of a round and for this upcoming round 16, which is less than two weeks away at this stage we were able to get out there and get 3D data ahead of the round for both Campos Basin and the Santos Basin. And these are proven to be very well received by industry. These are the type of products that helps them de-risk major decisions, I mean, when we talk about Campos basin, one of the blocks that's on offer there, the minimum signature bonus. So this is what an oil company is going to be obligated to pay at a bare minimum is $350 million for one block. And so to have the seismic that's going to de-risk that structure and allow them to better understand what the real potential is there, it's a, it's a huge benefit. So we're, we're happy to be able to provide that.

     

    Erica Conedera:

    23:54

    So you had talked about the different G&G data products that we're offering aside from the 2D and 3D seismic, can you talk a little bit about what else?

     

    David Hajovsky:

    24:05

    Yeah, so we, we've been offering we've touched on some of the derivatives that you receive off of the 2D and 3D. So work effort that happens beyond that, can be something as simple as an interpretation, can be different kind of attribute work, different sort of packages that we can customize for whatever the client needs are, integrating different data types. So TGS, I mean, obviously the, the Wells business is a huge piece for us. So this is where we would go into a given country, get access to their well database. A lot of times this data is very old. It's very spotty. It needs a lot of cleanup. So we've kind of honed that process down where we're able to take these well logs cleaned them up, make them interpretable, integrate them into packages that our clients are able to access.

     

    David Hajovsky:

    24:56

    On the geochemical side, we've been doing a lot of work effort with these large scale multi-beam projects. As an example in Mexico, when that market opened up, we acquired a multi-beam over 600,000 square kilometers of offshore Mexico. So effectively covering everything and utilizing that data, we're then able to high grade a coring location. So piston course something that oil companies have done from for a very long time, for 50 plus years. But by using this technology of the high res multibeam data, we're able to better high-grade where to take these cores. They'll find the right sort of areas to, to try to find hydrocarbon samples on the sea floor. And, and what we found is a very high success rate there. And you're able to correlate that back. And so for oil companies, when they're trying to do their, their basin modeling and understand where they need to be thinking about these are the types of data sets they can integrate in with our regional seismic or 3D seismic and better de-risk the play.

     

    Richie Miller:

    25:55

    No, it's, it's what, what do our customers need and that that was one of the items in a multibeam that came back and, and it's, it's working with our core key customers to understand what they need and what else we can provide. And the industry is changing that way and it's real positively. You put the two companies together, there's a lot of opportunity and a lot of geographic space to, to put together products.

     

    Erica Conedera:

    26:22

    In our last episode, we actually talked about multi beam, so we had a whole episode on that.

     

    David Hajovsky:

    26:26

    Good. Well then they've dove, they know a lot more about it than than I do, which is which is a good thing cause then they can go focus on that.

     

    Richie Miller:

    26:34

    Yeah. When I listened to it, I learned a lot more about multibeam.

     

    David Hajovsky:

    26:38

    No, but I think it's a, one of the things is it's taking old technologies and applying them in a new way. It's just like reprocessing data, which is a big part of our, our businesses. When you have legacy data, so data that might've been acquired in the 90s in the 1980s even more recent vintages, a lot of times the, the processing flow and the algorithms that were used to try to create an image were, were very antiquated either by a limitation on compute or for just the limitation in the code. But even taking legacy data and applying today's technology on it, we're able to see significant uplift. And, and a lot of times we'll go and capture that data and try to uplift that data to help compliment in what we're doing from a new data acquisition point of view. And it helps us better set the parameters on this new acquisition to ensure that geophysically, we're going to address the geologic problems in that area.

     

    Richie Miller:

    27:32

    Yeah. Imaging technology is, is we try to keep up with it on with the acquisition is not changing a lot, but imaging technology changes day to day. It's it's really breakthrough technology that's coming through and helping the E&Ps discover more resources and, and it's a big part of TGS is moving that imaging into the next the next phase.

     

    David Hajovsky:

    28:00

    And I think we've seen in, you know, you can take data sets that were acquired five years ago and, and processed with the latest and greatest five years ago and applying the technologies today. And we'll talk specifically about technologies like full wave form inversion to help better resolve the velocity field and you'll see a significant upgrade in that image quality. It's probably tantamount to the photo quality I have on my iPhone 11 compared to on my original, you know, iPhone three. If they even had that name back then, I mean, it's it's incredible resolution and detail and it's those sort of upgrades and insights that allow people to think about different plays and different concepts in ways that we need to be moving the needle.

     

    Richie Miller:

    28:48

    It's a big part of our business is we have to have refresh data ready when the opportunity arises, whether it's a discovery well there's a discovery that spurs is a, is a good tar trigger on, on, on sales of data. And then for license round, sometimes they surprise us some of these governments. And if we don't have that, the data ready and it's been reprocessed with the latest technology we may miss. So it's our job to identify what we think will, will the be, the surveys that we need to upgrade. Yeah.

     

    David Hajovsky:

    29:22

    Yeah. I think it's a, when you, when you mentioned that thing about the licensed rounds gets sprung upon us, it's Brazil for this round 16 that's upcoming here in two weeks time. When we were talking about trying to get 3D data ahead of the round that was certainly one of the big challenges we had was how can we, under this limited time frame and the way that this round has been earmarked, how can we get out there with a vessel, acquire the data, process the data, get a workable product to the client base. And it puts a lot of pressure on us to come up with creative solutions. But I think in most of these instances we've been able to luckily enough, stay ahead.

     

    Erica Conedera:

    30:00

    So it sounds like one of the challenges is predicting where the next big play is going to be. What about the Santos Campos?

     

    Richie Miller:

    30:08

    Well, I think, you know, that's a great question because back geez, it's been two years ago now, we, we made, we took the risk to move offshore into the outside the BEZ or the Brazilian economic zone which was out at that point. It still is at 200 miles. We started acquiring a survey and with TGS we, we partnered saw the opportunity and it's a new play, very similar to what's inbound on, on Santos. But some of the, some of the data we're seeing already and some of the experts that are working that they think it can be just as big as what's already been discovered in the Santos Basin. And so we're, we're talking 30 to 50 billion barrels. It's a big number to, to even throw out there because people will disagree with you. But we've, we've made an investment already. We've acquired 7,000 kilometers, 8,000 kilometers. We're going to go ahead and pick up the rest of that later this year. It's a big risk. But I think there's a very big reward for TGS and, and also our customers cause we're going to provide that data 3D data instead of 2D data before the rounds. And we're hearing that, that, EEZ (Exclusive Economic Zone). The rounds good chance there'll be offered in and round 18, which will be in 2021, which gives us a good time to plenty of time to get the data processed and out and for the customers to interpret it and have it ready for the round.

     

    David Hajovsky:

    31:49

    Yeah. And I, and I think that, you know, it, it is true. It is risk, but I think it's calculated risk. I mean, when just talking about the, the UNCLOS (United Nations Convention on the Law of the Sea) process. So this is the process by which a company can extend out their current exclusive economic zone. Brazil was the second country to apply for that back in 2004. So these things take time. But certainly I think what we saw as we looked at that area is there's great momentum. The government realizes there's good resource potential there. Technically it makes sense to extend this out. And you're getting all the right stakeholders in place, both with the UN with the Navy, with A and P with the government to, to see this move forward. And so, yes, it was a risk. It was a calculated risk. But I think it's the, certainly gonna prove to be the right decision where I've seen that I think kind of payout in itself

     

    Richie Miller:

    32:41

    That, yeah, that's right. That we and Argentina, they've, they've been granted the rights and Uruguay has been granted the rights. There's a few little areas in Brazil they're still working on in New York. You know, ironically Pedro Zalan on who we we mentioned earlier is working with the UN and the Brazilian government on that. Our country manager draw credit has been very involved in this whole process with the couple of the universities. We're, we're the only ones that have data that, that show the prospectivity outside the 200 miles. And we're using that and, helping the government move forward and we expect some very big results not only out of the expiration but also out of for TGS on the, on the data sales.

     

    David Hajovsky:

    33:26

    Yeah. And I think that this is the, this is part of the positioning, right? Is that we want to be viewed as allies to the governments and we're trying to help them promote their areas as we're trying to help our clients promote their own interests. And so it becomes a mutually beneficial relationship among all three. And so this has been the key strategy for, for TGS and Spectrum, and now we're bringing those strengths together.

     

    Richie Miller:

    33:52

    Yeah. Yeah. We, it's a footprint that we're putting together that with, when all said and done, we'll probably end up with about 40 to 50,000 square kilometers that's continuous. It's it's a must be basin. We have to be in Santos and Campos similar to some of the large basins and, and in the U S a on shore with the sale markets. They're the hottest basins in the world right now. And TGS is in, in all of them.

     

    David Hajovsky:

    34:20

    Yeah. We hope to continue that and I don't see any reason why we won't be able to keep moving that ball forward.

     

    Erica Conedera:

    34:27

    Well guys, it sounds like a, you have a lot of work ahead of you and we're definitely very excited about the value that the spectrum acquisition has added to our data libraries. So very glad you guys could be with us today.

     

    Richie Miller:

    34:39

    I appreciate it. It was it's going to be a fun group to work with. The the, there was a lot of success with this library, you know, not only in Latin America but in Africa and other areas of the world that, that we've added to. But it was, it's a top down approach that you know, the support, getting the financing to do some of these projects, the processing groups the finance groups, you got to invoice this. Everybody's touching it. Everybody in the office, the, you've got the, the it groups and the computer centers. It's, everybody's working on this together and it made it successful. So it's it's now to capitalize on the opportunities moving forward.

     

    David Hajovsky:

    35:18

    Yeah, and I think that it's a, it's a huge benefit to TGS to be bringing in this, this established Spectrum team. I mean, these guys have proven track record and we're creating, I think one of the strongest teams in industry. I think we could be Dallas Cowboys-like probably mid nineties Cowboys on that Superbowl run, I think is probably where we'll end up being. We'll see what happens this year.

     

    Erica Conedera:

    35:43

    All right. Thanks guys.