JSTIC
5年前
NXT Energy Solutions Announces Second Quarter 2019 Results
8/7/19, 6:23 PM
CALGARY, Alberta, Aug. 07, 2019 (GLOBE NEWSWIRE) -- NXT Energy Solutions Inc. (“NXT” or the "Company") (TSX:SFD; OTC QB:NSFDF) today announced the Company’s financial and operating results for the quarter ended June 30, 2019. All dollar amounts herein are in Canadian Dollars.
Q2 Financial and Operating Highlights
Key financial and operational highlights for the second quarter and year to date include:
On May 1, 2019 the Company completed the acquisition phase of its Nigerian SFD® survey valued at approximately US$8.9 Million with PE Energy Limited (“PE”), a Nigerian oil and gas service company. PE has a contract with the Nigerian National Petroleum Company (“NNPC”), to provide 5,000-line kilometers of SFD® surveys in Nigeria. NXT’s recommendations are being delivered during the third quarter of 2019. The Company will also discuss the potential utilization of SFD® technology in NNPC’s future exploration programs based upon the successful completion of the Department of Petroleum Resources (“DPR”) near-shore flight and the initial onshore SFD® data review conducted in April 2019 by the Frontier Exploration Services (“FES”) of NNPC.
The Company has received US$5.7 million from PE for the SFD® Surveys in Nigeria, including US$4.4 million in July 2019. The final milestone payments of US$3.2 million for delivery of the final report are expected to be made by the end of the third quarter.
In February 2019, NXT entered into a Co-operative Agreement with Alberta Green Ventures (“AGV”), to propose up to three SFD® surveys within two years. The Co-operative Agreement is based on a cost plus formula and a gross overriding royalty interest in oil and gas production arising on lands subject to the surveys. NXT and AGV are evaluating potential SFD® surveys. The Company has received a US$100,000 non-refundable deposit for this Co-operative Agreement in Q2-19.
As the result of the Co-operation Agreement between AGV and NXT, the Company has received approval from its shareholders and the Toronto Stock Exchange (“TSX”) to extend the 3,421,648 common share purchase warrants at an exercise price of $1.20 held by AGV for an additional 12 months until February 16, 2020 contingent upon AGV’s performance under the Co-operation Agreement.
NXT has entered into a three year exclusive sales representative agreement with AGV, in nine jurisdictions in the Middle East and Latin America. This includes an at-market subscription right to purchase treasury shares of NXT in a dollar amount equal to 25% of the contracts introduced by AGV to NXT in the first year of the agreement, subject to approval from the TSX.
Survey revenues of $10.95 million were recorded in Q2-19.
A net income of $8.09 million was recorded for Q2-19, including amortization expense of $0.44 million.
A net income of $6.32 million was recorded for 2019 YTD, including amortization expense of $0.89 million.
Operating activities used $0.38 million of cash during Q2-19 and net cash used for financing activities was $0.01 million.
Operating activities used $1.26 million of cash during 2019 YTD and net cash used for financing activities was $0.02 million.
Net income per common share for Q2-19 was $0.12 basic and $0.11 diluted.
Net income per common share for 2019 YTD was $0.09 basic and $0.09 diluted.
General and administrative costs for the Q2-19 as compared to 2018 have been reduced by $0.343 million or 31% mostly due to a reduction in business development travel, legal costs and some expenditures becoming direct survey costs.
General and administrative costs for 2019 YTD as compared to 2018 YTD have been reduced by $0.40 million or 19% mostly due a reduction in business development costs, the suspension of the Advisory Board, lower headcount costs and some expenditures becoming direct survey costs.
Cash and short-term investments at the end of the Q2-19 were $2.96 million.
Message to Shareholders
George Liszicasz, President, and CEO of NXT, commented, “During the second quarter we completed the acquisition of 5,000 line-kilometers of SFD® data, interpreted most of it, and presented milestone results to the clients in late July 2019. In addition, we were paid almost two thirds of the total $US 8.9 million contract fee based upon milestones completed. The Company also discussed the potential utilization of SFD® technology in the NNPC’s future exploration programs based upon the successful correlations of SFD® with NNPC’s proprietary seismic data. During the last week of July a detailed comparison of SFD® data with Department of Petroleum Resources’ (“DPR”) proprietary seismic data was carried out over the near-shore SFD® Pilot Project area designed by DPR. The results are very encouraging which may lead to new SFD® survey opportunities in Nigeria. Again, I want to thank NXT’s hard working employees and PE Energy Limited for executing on a successful SFD® project.
Our team has just completed a three week trip which started with data integration and presenting results in Nigeria and ended in Beijing where we built upon our strengths in the West African region through conversations in Beijing with BGP and affiliates. BGP is the largest seismic company in the world with a significant presence in Africa.”
Summary highlights of NXT's 2019 second quarter and year to date financial statements (with comparative figures to 2018) are noted below. All selected and referenced financial information noted below should be read in conjunction with the Company's three month and six month periods ended June 30, 2019 unaudited condensed consolidated interim financial statements and the related management's discussion and analysis ("MD&A").
(All in Canadian $)
Q2-19
Q2-18
2019 YTD
2018 YTD
Operating results:
Survey revenues $ 10,954,617 $ - $ 10,954,617 $ -
Survey expenses 1,412,380 267,672 1,790,113 517,434
General & administrative expenses 767,401 1,110,634 1,689,150 2,092,038
Stock based compensation expense 3,775 153,791 7,550 449,075
Amortization and other expenses, net 443,154 447,192 886,851 894,383
Operating expenses 2,626,710 1,979,289 4,373,664 3,952,930
Comprehensive income (loss) for the period 8,085,888 (1,961,114 ) 6,322,568 (3,915,764 )
Earnings (loss) per common share – basic $ 0.12 $ (0.03 ) $ 0.09 (0.06 )
Earnings (loss) per common share – diluted $ 0.11 $ (0.03 ) $ 0.09 (0.06 )
Number of common shares outstanding as at end of the period 68,573,558 67,378,297 68,573,558 67,378,297
Weighted average number of common shares outstanding for the period:
Basic 68,573,558 64,319,452 68,573,558 62,366,678
Diluted 73,267,206 64,319,452 73,274,112 62,366,678
Cash provided by (used in):
Operating activities (384,271 ) (1,942,964 ) (1,262,250 ) (3,281,872 )
Financing activities (10,554 ) 4,093,205 (20,931 ) 8,377,941
Investing activities 900,000 (4,960,007 ) 2,100,000
JSTIC
9年前
NXT Energy Solutions Announces US $1 Million Expansion of SFD(R) Survey Project in Bolivia With YPFB
7/9/15, 3:30 AM
CALGARY, ALBERTA -- (Marketwired) -- 07/09/15 -- NXT Energy Solutions Inc. ("NXT Energy" or the "Company") (TSX VENTURE: SFD)(OTCQB: NSFDF) is pleased to advise that based on the preliminary results of its SFD® survey project which is underway in Bolivia, and integration with other existing geophysical data, Yacimientos Petroliferos Fiscales Bolivianos ("YPFB") has decided to expand the project by an additional US $1.0 million. The project will now total US $14.4 million, with the expansion subject to final contract documentation that is expected to be completed shortly.
The SFD® data acquisition portion of the Bolivia project is well underway, with its phase 2 expected to be completed in the next month, after which a 50% project progress billing of US $7.2 million will be issued. An initial deposit of US $3.1 million (secured by a letter of credit issued by NXT Energy) was received from YPFB in May at the commencement of the project. The related SFD® data interpretation and recommendations portion of the project is expected to be completed by fall 2015.
In a press conference in Bolivia announcing the prior commencement of this project, YPFB President, Guillermo Acha had stated "The final results of this project will be delivered in November, however, this technology has the capacity to produce earlier results, and based on those, technical decisions could be made in the exploration areas investigated. Thanks to this method we will be able to identify potential new oil and gas reserves."
George Liszicasz, President and CEO of NXT Energy, noted "this project is a key part of YPFB's current exploration strategy and has received a high profile in the Bolivia media. The expansion of the project shows that we can very rapidly deliver results, which has significant value to YPFB and Bolivia. NXT Energy is also working with YPFB and other clients to propose and plan additional SFD® surveys in Bolivia."
NXT is a Calgary based company whose proprietary Stress Field Detection ("SFD®") survey system utilizes quantum-scale sensors to detect gravity field perturbations in an airborne survey method which can be used both onshore and offshore to remotely identify areas with exploration potential for traps and reservoirs. The SFD® survey system enables our clients to focus their hydrocarbon exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization on areas with the greatest potential. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain, and is the registered trademark of NXT Energy Solutions Inc. NXT provides its clients with an effective and reliable method to reduce time, costs, and risks related to exploration.
Forward-Looking Statements
This news release may include forward-looking statements. When used in this document, words such as "intends", "plans", "anticipates", "expects" and "scheduled", are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statements. Risk factors facing NXT are described in its most recent MD&A for the fiscal year ended December 31, 2014 which has been filed electronically by means of the System for Electronic Document Analysis and Retrieval ("SEDAR") located at www.sedar.com. There is a specific risk that the Company may not be able to advance its Vertical business model in the short term, whether as a result of failing to secure acceptable financing or otherwise.
Such forward-looking statements are made as at the date of this news release, and the Company assumes no obligation to update or revise them, either publicly or otherwise, to reflect new events, information or circumstances, except as may be required under applicable securities law.
Specific forward-looking statements include expectations related to the timing of completion of the survey project.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Exchange accept responsibility for the adequacy or accuracy of this release.
Contacts:
NXT Energy Solutions Inc.
Greg Leavens
V-P Finance & CFO
(403) 206-0805
NXT Energy Solutions Inc.
George Liszicasz
President & CEO
(403) 206-0800
www.nxtenergy.com
Investor Relations
kin communications inc.
(604) 684-6730 / 1-866-684-6730
sfd@kincommunications.com
www.kincommunications.com
JSTIC
9年前
OTC Markets Group Welcomes Newly Verified OTCQB Companies – June 22
Jun 22, 2015
OTC Disclosure & News Service
New York, NY -
OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced the following companies are verified for trading on the OTCQB® Venture Marketplace:
NXT Energy Solutions Inc. (TSX-V: SFD; OTCQB: NSFDF) – NXT Energy Solutions ("NXT") is a publicly-traded geophysical service company based in Calgary, Alberta, Canada. NXT's proprietary SFD aerial survey technology is used by oil and gas exploration and production companies to focus and high-grade their exploration programs.
SFD can be used to significantly reduce the total time, costs and risks in the exploration cycle, with no environmental impact.
5Barz International Inc. (OTCQB: BARZ) – 5BARz International along with its consolidated subsidiaries are in the process of developing the global commercialization of a patented product technology branded under the name 5BARz(TM). 5BARz(TM) is a cellular network infrastructure device for use in the small office, home or when you are mobile. 5BARz(TM) incorporates a patented technology to create a highly engineered, single-piece, plug 'n play unit, which is not disruptive to the wireless networks, and strengthens weak cellular signals to deliver high quality signals for voice, data and video reception on cell phones and other cellular equipped devices. 5BARz(TM) represents a key solution for cellular network operators in providing clear, high quality signal for their subscribers with a growing need for high quality connectivity.
Berkshire Bancorp, Inc. (OTCQB: BERK) – Berkshire Bancorp, a Delaware corporation, is a bank holding company registered under the Bank Holding Company Act of 1956. The company's principal activity is the ownership and management of its wholly-owned subsidiary, The Berkshire Bank, a New York State chartered commercial bank. Berkshire Bank's principal business consists of gathering deposits from the general public and investing those deposits primarily in loans, debt obligations issued by the U.S. government and its agencies, debt obligations of business corporations, and mortgage-backed securities. Berkshire Bank currently operates seven branches in New York City, four branches in Orange and Sullivan Counties, New York and one branches in Teaneck, NJ.
Farmers & Merchants Bank of Long Beach (CA) (OTCQB: FMBL) – Farmers & Merchants Bank of Long Beach offers personal and business banking services in California. It provides business banking products and services such as business checking accounts, money market accounts, investment accounts, merchant card services, small business loans, real estate and construction loans, commercial loans, church and nonprofit loans; and personal banking services, including personal checking accounts, personal money market accounts, personal savings accounts, and personal and home loans. The bank operates 23 branches in Long Beach and Orange County. Farmers & Merchants Bank was founded in 1907 and is based in Long Beach, California.
Frontera Group Inc. (OTCQB: FRTG) – Frontera Group is an export management company providing business development and market consultancy services that assist small and medium-sized businesses in entering new markets in Central and South America.
NXT Energy Solutions Inc. (TSX-V: SFD; OTCQB: NSFDF) – NXT Energy Solutions ("NXT") is a publicly-traded geophysical service company based in Calgary, Alberta, Canada. NXT's proprietary SFD aerial survey technology is used by oil and gas exploration and production companies to focus and high-grade their exploration programs.
SFD can be used to significantly reduce the total time, costs and risks in the exploration cycle, with no environmental impact.
U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for these companies on www.otcmarkets.com.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates Open, Transparent and Connected financial marketplaces for 10,000 U.S. and global securities. Through our OTC Link® ATS, we directly link a diverse network of broker-dealers that provide liquidity and execution services for a wide spectrum of securities. We organize these securities into marketplaces to inform investors of opportunities and risks: the OTCQX® Best Marketplace; the OTCQB® Venture Marketplace; and the OTC Pink® Open Marketplace. Our data-driven platform enables investors to easily trade through the broker of their choice at the best possible price and empowers a broad range of companies to improve the quality and availability of information for their investors. To learn more about how we create better informed and more efficient financial marketplaces, visit www.otcmarkets.com.
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JSTIC
9年前
Bolivian contract biggest ever for Calgary air survey firm
DAN HEALING, CALGARY HERALD
More from Dan Healing, Calgary Herald
Published on: May 12, 2015
Last Updated: May 12, 2015 4:59 PM MDT
Airborne survey firm NXT Energy Solutions reports it has won its largest contract worth $13.4 million in Bolivia.
SHARE ADJUST COMMENT PRINT
A Calgary company that performs high-tech surveys to detect potential oil and gas fields from an airplane has won the largest contract in its history, worth $13.4 million US, from the national oil company of Bolivia.
NXT Energy Solutions Inc. announced Tuesday that it will begin its “stress field detection” survey as soon as this month, following receipt of local permits, for Yacimientos Petroliferos Fiscales Bolivianos (YPFB).
“Given the large frontier areas in Bolivia, we view this project as the first step in building a strategic long-term partnership with YPFB and its subsidiaries, and are looking forward to undertaking this exciting new project,” said George Liszicasz, president and chief executive of NXT, in a release.
The news comes two weeks after NXT’s 2014 financial report, which showed it had a net loss of $1.6 million on survey revenue of $3.9 million. In 2013, it had a loss of $5.3 million on revenue of $2.7 million.
A contract with Pemex, the national oil company of Mexico, boosted NXT’s 2012 annual survey revenue by $5.8 million to a record $10.9 million and delivered a $2 million net profit.
The company’s TSX Venture Exchange stock has risen about 80 cents this year, closing at $2.10 on Tuesday, down five cents. It pre-announced Tuesday’s contract on April 16 as a pending deal but didn’t identify the customer or give its exact value.
Raveel Afzaal, an analyst for Mackie Research Capital, said in a research note the YPFB contract is likely to result in gross margins of about 80 per cent for NXT. He has a 12-month target price of $2.50 per share.
He said NXT is in talks with three other companies in Bolivia in which the national oil company has an interest, so more work could be realized there.
The company is also bidding on work in Pakistan for OGDCL, a leading oil and gas explorer, that could result in a contract worth an estimated $7 million, Afzaal reported.
“Management remains optimistic that it will be in a position to secure additional contracts in Malaysia, the Middle East and Mexico before the end of the year as well,” he wrote. “As a result, we believe that 2015 could prove to be an inflection point and the strongest year in the company’s history.”
NXT says its stress field detection system utilizes “quantum-scale sensors to detect gravity field perturbations” both onshore and offshore, thus identifying areas with potential oil and gas traps and reservoirs.
dhealing@calgaryherald.com
Twitter.com/HealingSlowly
http://calgaryherald.com/business/energy/calgary-air-survey-firm-lands-biggest-contract-in-bolivia
JSTIC
9年前
NXT Energy Solutions Executes US $13.4 Million SFD(R) Survey Contract to Commence in May, 2015
5/12/15, 3:00 AM
CALGARY, ALBERTA -- (Marketwired) -- 05/12/15 -- NXT Energy Solutions Inc. ("NXT Energy" or the "Company") (TSX VENTURE: SFD)(OTCQB: NSFDF) is pleased to advise that it has now executed the formal binding contract previously announced on April 16, 2015 for US $13.4 million.
NXT Energy notes that the contract is with a new client, Yacimientos Petroliferos Fiscales Bolivianos ("YPFB"), which is the National Oil Company of Bolivia.
It is anticipated that the aerial Stress Field Detection ("SFD®") survey project will commence in May, 2015, pending receipt of customary local permits. As part of the contract, NXT Energy will receive a 20% deposit advance at commencement of the project.
George Liszicasz, President and CEO of NXT Energy, noted "we are very proud to have received this significant contract with YPFB, one of the major NOCs in South America. Given the large frontier areas in Bolivia, we view this project as the first step in building a strategic long-term partnership with YPFB and its subsidiaries, and are looking forward to undertaking this exciting new project."
NXT Energy is a Calgary based company whose proprietary Stress Field Detection ("SFD®") survey system utilizes quantum-scale sensors to detect gravity field perturbations in an airborne survey method which can be used both onshore and offshore to remotely identify areas with exploration potential for traps and reservoirs. The SFD® survey system enables our clients to focus their hydrocarbon exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization on areas with the greatest potential. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain, and is the registered trademark of NXT Energy Solutions Inc. NXT provides its clients with an effective and reliable method to reduce time, costs, and risks related to exploration.
Forward-Looking Statements
This news release may include forward-looking statements. When used in this document, words such as "intends", "plans", "anticipates", "expects" and "scheduled", are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statements. Risk factors facing NXT are described in its most recent MD&A for the year ended December 31, 2013 which has been filed electronically by means of the System for Electronic Document Analysis and Retrieval ("SEDAR") located at www.sedar.com. Such forward-looking statements are made as at the date of this news release, and the Company assumes no obligation to update or revise them, either publicly or otherwise, to reflect new events, information or circumstances, except as may be required under applicable securities law.
Specific forward looking statements include expectations related to the timing and scope of the survey project.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Exchange accept responsibility for the adequacy or accuracy of this release.
JSTIC
10年前
NXT Energy Solutions Announces Filing of 2014 Year-End Results and Upcoming Investor Conference Call Update
CALGARY, ALBERTA--(Marketwired - April 30, 2015) - NXT Energy Solutions Inc. ("NXT Energy" or the "Company") (TSX VENTURE:SFD)(OTCQB:NSFDF) advises that its financial and operating results for the fiscal year ended December 31, 2014 have been filed in Canada on SEDAR at www.sedar.com, at will be available shortly in the USA on EDGAR at www.sec.gov/edgar, and on NXT's website at www.nxtenergy.com. All selected and referenced financial information noted below should be read in conjunction with the Company's 2014 audited consolidated financial statements and related management's discussion and analysis ("MD&A").
George Liszicasz, President and CEO of NXT Energy, noted "2014 was a very important year for NXT, as we made significant progress with new clients and several large client prospects, enhanced the protection of our proprietary Intellectual Property, and very importantly, we significantly advanced the development of our "Vertical" business model. In 2014, our revenues increased 46% from 2013, and our projects had higher operating profitability. We are pleased with the momentum of our ongoing business development initiatives that have resulted in recent contract awards in 2015 and the expectation of significant revenue growth. We look forward to updating our investor base on these developments very shortly."
NXT Energy advises that it will host a brief investor and media conference call on Thursday May 7, 2015 at 2:10 pm MST (4:10 pm EST) to discuss the status of recent business development initiatives. Interested parties are invited to participate in this call, by using one of the applicable numbers below:
Participant Pass Code: 36501 - please enter this code followed by the "#" (pound) sign
Highlights of Financial Results
Summary highlights of NXT's 2014 year-end financial statements (with comparative figures for the year ended December 31, 2013) are as follows:
(all in Canadian $) 2014 2013
Survey revenues $ 3,913,367 $ 2,684,095
Survey expenses 431,518 1,632,159
General & administrative expenses 4,132,108 4,112,787
Amortization and other expenses, net 870,302 509,664
Increase (decrease) in fair value of US$ Warrants 42,800 1,371,500
5,476,728 7,626,110
(Loss) before income taxes (1,563,361 ) (4,942,015 )
Income tax expense - 399,546
Income (loss) for the year (1,563,361 ) (5,341,561 )
(Loss) per common share - basic (0.04 ) (0.13 )
(Loss) per common share - diluted (0.04 ) (0.13 )
# of common shares outstanding as at end of the year 44,958,843 42,418,326
Weighted average # of common shares outstanding for the year 44,375,540 41,660,190
Cash provided by (used in):
Operating activities:
Net (loss) for the year (1,563,361 ) (5,341,561 )
Add back non-cash items, net 753,402 1,951,731
(809,959 ) (3,389,830 )
Net change in non-cash working capital balances (2,771,227 ) 2,614,872
Net cash (used in) operating activities (3,581,186 ) (774,958 )
Financing activities 3,024,061 1,077,456
Investing activities (2,711,867 ) (2,035,465 )
Net cash inflow (outflow) (3,268,992 ) (1,732,967 )
Cash and cash equivalents, beginning of year 3,319,627 5,052,594
Cash and cash equivalents, end of year 50,635 3,319,627
Cash and cash equivalents 50,635 3,319,627
Short-term investments 5,173,430 2,449,450
Total cash and short-term investments 5,224,065 5,769,077
NXT is a Calgary based company whose proprietary Stress Field Detection ("SFD®") survey system utilizes quantum-scale sensors to detect gravity field perturbations in an airborne survey method which can be used both onshore and offshore to remotely identify areas with exploration potential for traps and reservoirs. The SFD® survey system enables our clients to focus their hydrocarbon exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization on areas with the greatest potential. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain, and is the registered trademark of NXT Energy Solutions Inc. NXT provides its clients with an effective and reliable method to reduce time, costs, and risks related to exploration.
JSTIC
10年前
NXT Energy Solutions Reports Earnings of $2.6 Million in Q1 2014
MAY 22, 2014 --
CALGARY, ALBERTA -- (Marketwired) -- 05/22/14 -- NXT Energy Solutions Inc. ("NXT" or the "Company") (TSX VENTURE: SFD)(OTCBB: NSFDF) advises that its interim financial and operating results for the three month quarter ended March 31, 2014 ("Q1-2014") have been filed in Canada on SEDAR at www.sedar.com, and will be available in the USA on EDGAR at www.sec.gov/edgar, and on NXT's website at www.nxtenergy.com. All selected and referenced financial information noted below should be read in conjunction with the Company's unaudited interim consolidated financial statements and related management's discussion and analysis ("MD&A") for Q1-2014.
Highlights
-- Revenues of $3.9 million -- Net earnings of $2.6 million or $0.06 per share -- Current strong financial position, with cash of approx. $8 million
George Liszicasz, President and CEO of NXT, noted, "We are very pleased with our Q1-2014 results, which generated very profitable operations, and has put us in one of the strongest working capital positions in our history. With an existing G&A 'burn-rate' of roughly $4 million per year, we have a solid foundation to continue to advance numerous new project opportunities which we have been pursuing in South and Central America, the USA, and the Pakistan / South Asia region. Dealing with National Oil Companies and other exploration companies can be a long process, but we feel that our ongoing patience and perseverance will soon be rewarded."
NXT intends to host a conference call to discuss Q1-2014 and other developments in the next 2 weeks, and will advise of the details as soon as scheduling permits.
Highlights of unaudited interim Financial Results
Highlights of NXT's Q1-2014 interim consolidated financial statements, with comparative figures for the three month period ended March 31, 2013 ("Q1-2013") are as follows:
(unaudited - all in Canadian $) Q1-2014 Q1-2013 ---------------------------------------------------------------------------- Survey revenues $ 3,913,367 2,684,095 Survey expenses 333,188 1,542,248 General & administrative expenses 947,528 931,650 Amortization and other expenses, net 4,118 18,230 Increase (decrease) in fair value of US$Warrants 42,800 (172,000) ---------------------------------------------------------------------------- 1,327,634 2,320,128 ---------------------------------------------------------------------------- Income before income taxes 2,585,733 363,967 Income tax expense - 399,546 ---------------------------------------------------------------------------- Income (loss) for the period 2,585,733 (35,579) ---------------------------------------------------------------------------- Income (loss) per common share - Basic 0.06 (0.00) Income (loss) per common share - Fully diluted 0.05 (0.00) # of common shares outstanding as at end of the period 44,693,843 39,554,959 Weighted average # of common shares outstanding for the period 43,100,789 41,554,959 Cash provided by (used in): Operating activities: Net income (loss) for the period 2,585,733 (35,579) Add back non-cash items, net 188,729 (51,556) -------------------------------------------------------------------------- 2,774,462 (87,135) -------------------------------------------------------------------------- Net change in non-cash working capital balances (3,807,608) (776,265) -------------------------------------------------------------------------- Net cash (used in) operating activities (1,033,146) (863,400) Financing activities 2,828,416 - Investing activities (1,009,685) (1,804,516) ---------------------------------------------------------------------------- Net cash inflow (outflow) 785,585 (2,667,916) Cash and cash equivalents, beginning of the period 3,319,627 5,052,594 ---------------------------------------------------------------------------- Cash and cash equivalents, end of the period 4,105,212 2,384,678 ---------------------------------------------------------------------------- Cash and cash equivalents 4,105,212 2,384,678 Short-term investments 3,457,010 1,955,000 ---------------------------------------------------------------------------- Total cash and short-term investments 7,562,222 4,339,678 ----------------------------------------------------------------------------
NXT is a Calgary-based company whose proprietary Stress Field Detection ("SFD®") survey system utilizes quantum-scale sensors to detect gravity field perturbations in an airborne survey method which can be used both onshore and offshore to remotely identify areas with exploration potential for traps and reservoirs. The SFD® survey system enables our clients to focus their hydrocarbon exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization on areas with the greatest potential. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain, and is the registered trademark of NXT Energy Solutions Inc. NXT provides its clients with an effective and reliable method to reduce time, costs, and risks related to exploration.
Forward-Looking Statements
This news release may include forward-looking statements. When used in this document, words such as "intends", "plans", "anticipates", "expects" and "scheduled", are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statements. Risk factors facing NXT are described in its most recent MD&A for the year ended December 31, 2013 which has been filed electronically by means of the System for Electronic Document Analysis and Retrieval ("SEDAR") located at www.sedar.com. Such forward-looking statements are made as at the date of this news release, and the Company assumes no obligation to update or revise them, either publicly or otherwise, to reflect new events, information or circumstances, except as may be required under applicable securities law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Exchange accept responsibility for the adequacy or accuracy of this release.
Contacts:
NXT Energy Solutions Inc.
Greg Leavens
V-P Finance & CFO
(403) 206-0805
NXT Energy Solutions Inc.
George Liszicasz
President & CEO
(403) 206-0800
www.nxtenergy.com
Investor Relations:
kin communications inc.
(604) 684-6730 / 1-866-684-6730
sfd@kincommunications.com
www.kincommunications.com
investor15
11年前
New Spy Technology to Spawn Oil Revolution
By James Burgess | Thu, 27 February 2014 23:32
Oilprice.com
The future of oil exploration lies in new technology--from massive data-processing supercomputers to 4D seismic to early-phase airborne spy technology that can pinpoint prospective reservoirs.
Oil and gas is getting bigger, deeper, faster and more efficient, with new technology chipping away at “peak oil” concerns. Hydraulic fracturing has caught mainstream attention, other high-tech developments in exploration and discovery have kept this ball rolling.
Oil majors are second only to the US Defense Department in terms of the use of supercomputing systems, which find sweet spots for drilling based on analog geology. These supercomputing systems analyze vast amounts of seismic imaging data collected by geologists using sound waves.
What’s changed most recently is the dimension: When the oil and gas industry first caught on to seismic data collection for exploration efforts, the capabilities were limited to 2-dimensional imaging. The next step was 3D, which gives a much more accurate picture of what’s down there.
The latest is the 4th dimension: Time, which allows explorers not only to determine the geological characteristics of a potential play, but also tells them how a reservoir is changing in real time. But all this is very expensive. And oilmen are zealous cost-cutters.
The next step in technology takes us off the ground and airborne—at a much cheaper cost—according to Jen Alic, a global intelligence and energy expert for OP Tactical.
The newest advancement in oil exploration is an early-phase aerial technology that can see what no other technology—including the latest 3D seismic imagery—can see, allowing explorers to pinpoint untapped reservoirs and unlock new profits, cheaper and faster.
“We’ve watched supercomputing and seismic improve for years. Our research into new airborne reservoir-pinpointing technology tells us that this is the next step in improving the bottom line in terms of exploration,” Alic said.
“In particular, we see how explorers could reduce expensive 3D seismic spending because they would have a much smaller area pinpointed for potential. Companies could save tens of millions of dollars.”
The new technology, developed by Calgary’s NXT Energy Solutions, has the ability to pinpoint prospective oil and gas reservoirs and to determine exactly what’s still there from a plane moving at 500 kilometers an hour at an altitude of 3,000 meters.
The Stress Field Detection (SFD) technology uses gravity to gather its oil and gas intelligence—it can tell different frequencies in the gravitational field deep underground.
Just like a stream is deflected by a big rock, SFD detects gravity disturbances due to subsurface stress and density variations. Porous rock filled with fluids has a very different density than surrounding solid rocks. Remember, gravity measurement is based on the density of materials. SFD detects subtle changes in earth’s gravitational field.
According to its developers, the SFD could save oil and gas companies up to 90% of their exploration cost by reducing the time spent searching for a reservoir and drilling into to it to determine whether there’s actually any oil and gas still there.
“Because it’s all done from the air, SFD doesn’t need on-the-ground permitting, and it covers vast acreage very quickly. It tells explorers exactly where to do their very expensive 3D seismic, greatly reducing the time and cost of getting accurate drilling information,” NXT Energy Solutions President and CEO George Liszicasz, told Oilprice.com in a recent interview.
Mexico’s state-owned oil company Pemex has already put the new technology to the test both onshore and offshore in the Gulf of Mexico, and was a repeat customer in 2012. They co-authored with NXT a white paper on their initial blind-test used of the survey technology.
At first, management targeted the technology to frontier areas where little seismic or well data existed. As an example, Pacific Rubiales Energy is using SFD technology in Colombia, where the terrain, and environmental concerns, make it difficult to obtain permits and determine where best to drill.
The technology was recently contracted in the United States for unconventional plays as well.
By. James Burgess of Oilprice.com
http://oilprice.com/Energy/Energy-General/New-Spy-Technology-to-Spawn-Oil-Revolution.html
investor15
11年前
Nov. 27, 2013, 6:31 a.m. EST
NXT Energy Announces US $1.1 Million SFD(R) Survey Contract in the USA
Highlights - NXT signs US $1.1 million SFD(R) survey contracts with Kerogen Exploration - Contract covers two resource plays in the continental USA
CALGARY, ALBERTA, Nov 27, 2013 (Marketwired via COMTEX) -- NXT Energy Solutions Inc. ("NXT Energy" or the "Company") (tsx venture:SFD) NSFDF -0.62% announces that it has signed contracts with a new client, Kerogen Exploration LLC ("Kerogen"), to conduct two pilot SFD(R) surveys in Texas and Florida, USA, totaling US $1.1 million.
Kerogen is a private company financed by Riverstone Holdings LLC, and operates in Texas and Florida, holding 100,000 acres in Texas in the Permian Basin and 125,000 acres in the South Florida basin. Murray Grigg, Kerogen's President and CEO noted "We are pleased to apply this new technology to our unconventional play effort".
George Liszicasz, NXT's President & CEO noted "This is a great opportunity to build our presence in the USA, as well as build on our prior shale basin experience in North America. We are pleased to add Kerogen as a new client to our expanding customer base, and to have the opportunity to conduct these pilot surveys to explore for both traditional and resource plays. We look forward to working with Kerogen to become an integral part of their future on-shore and off-shore exploration programs."
NXT Energy continues its efforts towards finalizing the terms of other near-term survey opportunities in Central and Latin America and will seek to co-ordinate the timing of the Kerogen surveys as soon as practical in conjunction with one of these other potential projects.
NXT Energy also advises that it will be presenting at the upcoming annual LD Micro VI: Main Event Conference to be held in Los Angeles, California at the Luxe Sunset Hotel on December 3-5, 2013. LD Micro publishes a by-invitation newsletter, and focuses on compelling micro-cap (under $500 million) value and growth stocks.
NXT Energy Solutions Inc. is a Calgary based company whose proprietary Stress Field Detection ("SFD(R)") survey system provides an effective and reliable method to reduce time, costs, and risks related to hydrocarbon exploration. The SFD(R) system utilizes quantum-scale sensors to detect gravity field perturbations in an airborne exploration survey method. SFD(R) can be used both onshore and offshore to remotely identify areas with exploration potential for traps and reservoirs, and enables our clients to focus their hydrocarbon exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization on areas with the greatest potential. SFD(R) is environmentally friendly and unaffected by ground security issues or difficult terrain, and is the registered trademark of NXT Energy Solutions Inc.
Forward-Looking Statements:
This news release may include forward-looking statements. When used in this document, words such as "intends", "plans", "anticipates", "expects" and "scheduled", are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statements. Risk factors facing NXT are described in its most recent MD&A for the year ended December 31, 2012 which has been filed electronically by means of the System for Electronic Document Analysis and Retrieval ("SEDAR") located at www.sedar.com. Such forward-looking statements are made as at the date of this news release, and the Company assumes no obligation to update or revise them, either publicly or otherwise, to reflect new events, information or circumstances, except as may be required under applicable securities law.
Specific forward-looking statements include the estimated timing of the contract. Specific risk factors include the weather conditions, regulatory permits, and other local factors which may adversely impact the Company's ability to conduct the survey contracts.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTC Exchange accept responsibility for the adequacy or accuracy of this release.
SOURCE: NXT Energy Solutions Inc.
http://www.marketwatch.com/story/nxt-energy-announces-us-11-million-sfdr-survey-contract-in-the-usa-2013-11-27-61733113?reflink=MW_news_stmp
investor15
11年前
Insight: Value of Stress Field Detection technology in early-stage exploration
Friday, September 06, 2013
Findingpetroleum.com
Overview of Stress Field Detection (SFD®)
The SFD® system utilizes quantum-scale sensors to detect gravity field perturbations which are induced by terrestrial stress energy variations, primarily in the horizontal plane. Significant subsurface discontinuities or anomalies are inherently associated with, and dependent on, subsurface principal stresses. As a consequence, the discontinuities will distort stress fields, resulting in a unique in-situ stress pattern.
SFD® has been used by oil and gas companies to identify subsurface stress-field anomalies related to trapped fluids. This technology offers a leap in cost-effective rapid reconnaissance for early-stage exploration from an airborne platform.
Heuristic Explanation
The subsurface geological condition required for SFD® to detect gravity field perturbations which arise due to stress variations in the horizontal direction is the occurrence of a structural and/or stratigraphic change discontinuity with sufficient difference in elastic properties. An important source of elastic variations is the presence of trapped fluids (oil, gas, or water). Other sources include faulting / fracturing, over-pressure, major lithological changes and basin boundaries. In general, all major discontinuities will evoke a distinct SFD® response. The variation of the shear component around and in reservoirs will result in the redistribution and orientation change of the stress fields (Figure 1).
Figure 1. Plan view of principal horizontal stress components (SHmax and SHmin) illustrating the distortion of stress fields associated with fluids trapped in a structural thrust-fault scenario. Stresses are redistributed due to a variety of sources including porosity, trapped fluids, fracturing, faulting and reservoir pressure.
Differences with Conventional Gravity and FTG
Conventional gravity surveys measure the vertical component of the gravitational field. Full tensor gravity (FTG) gradiometry measures the rate of change of all components of the gravity tensor. Two major advantages of FTG over conventional gravity are the increased resolution and the reduced noise contamination of the signal. Both methods rely on a large test mass to increase the sensitivity in measuring subsurface density variations.
Both conventional gravity and FTG provide a static, point to point measurement. However, SFD® differs from both in that it employs particle scale sensor elements for dynamic detection, which enables selective sensitivity to directional changes in subsurface stress induced by poro-elastic anomalies.
Case Studies
Gulf of Mexico: Integration of Regional Geophysical Data with SFD®
The Gulf of Mexico has been an area of evolving exploration: from the continental shelf to salt-controlled basins to sub-salt and ultra-deep water plays. Covering vast areas in a cost-effective manner to identify prospective acreage is an ongoing challenge. Conventional wisdom has been to conduct regional 2D seismic surveys followed-up with 3D seismic, both sparse and detailed. Although seismic data provide high-resolution subsurface images the cost is significant. Airborne SFD® can provide a cost-effective rapid reconnaissance solution that identifies prospective areas for more focused follow-up seismic efforts.
In the Fall of 2012, PEMEX conducted an initial SFD® survey in onshore and offshore areas of the Gulf of Mexico region. Figure 2a shows a 2D seismic section from the Gulf of Mexico. The sub-salt structure appears to be encased in a sealing salt (purple) but there may be a breaching potential due to the marked faults.
The anomaly identified on seismic is verified by the SFD® anomaly (Figure 2b). This may be indicative of the presence of both trapped fluids and an effective sealing mechanism.The correlation of SFD® with seismic poses that in areas without seismic coverage, an SFD® survey could help propose where to put in a capital-intensive high-resolution seismic program.
Figure 2. Correlation of regional 2D seismic data with SFD®: a) Seismic anomaly PMX-2.16 and b) corresponding SFD® signal.
Furthermore SFD® is effective irrespective of the presence of salt or bathymetry. As such, SFD® can serve as an important complementary method to be used in conjunction with other exploration technologies.
While seismic surveys offer excellent resolution and structural definition, they do not always easily lend themselves to identifying fluid properties in the absence of additional information. New methods, such as controlled-source electromagnetics (CSEM), are becoming more accepted tools to investigate fluid indicators on qualified prospects. Figure 3 illustrates another Gulf of Mexico example correlating SFD® with CSEM high-resistivity anomalies associated with hydrocarbons. Figure 3a is a map of CSEM resistivity overlain by an SFD® survey line. There are two high-resistivity anomalies (dashed red ovals) identified as PMX-2.44 and PMX-2.15 which have corresponding SFD anomalies (solid red bars). The SFD® profile for PMX-2.44 is shown in Figure 3b. In this example, both CSEM and SFD® have identified potential fluid anomalies.
Figure 3. Correlation of regional CSEM data with SFD®: a) CSEM resistivity anomaly map with dashed red ovals Indicating high-resistivity anomalies at PMX-2.44 and PMX-2.15 and b) corresponding SFD® signal over PMX-2.44.
Colombia: Optimizing Lease Relinquishments with SFD
A common exploration challenge is to determine the best acreage to retain within a large lease. In 2010 NXT Energy Solutions conducted an airborne SFD® survey covering 7,500km2over the Tacacho and Terecay Blocks in Colombia for Pacific Rubiales.Figure 4a shows the approximately 7,000 line km of SFD®data (red lines) which were acquired, processed and interpreted to provide an evaluation in less than two months time. As a result of this rapid turnaround, the leaseholder was able to identify the areas to be relinquished. Figure 4b shows the retained areas in red outline. The SFD® anomalies are indicated in the blue boxes and the green outlines represent the client’s assessment of anomaly areas using other technical data acquired subsequent to the SFD® survey.
Figure 4. High-grading blocks for exploration: a) Blocks with flight lines (red) and existing seismic lines (black) and b) blocks containing the best SFD® anomalies and retained acreage outlined (red boxes). SFD® anomalies are identified with blue boxes and the clients assessment of anomalies using numerous G&G methods are indicated by green outlines.
Benefits for Early Stage Exploration
Rapid and efficient exploration reconnaissance over large areas of virgin acreage in an environmentally sensitive manner
Identification of prospect areas with potential trap, reservoir quality and seal integrity
Effective in both onshore and offshore environments
Insensitive to both water depth and the presence of salt
Prioritize exploration activity (e.g., seismic programs) on identified leads
Author: George Liszicasz, President & CEO
Company: NXT Energy Solutions Inc.
Read more: http://www.findingpetroleum.com/n/Insight_Value_of_Stress_Field_Detection_technology_in_earlystage_exploration/754fb970.aspx#ixzz2k0UqVC8h
investor15
11年前
Why Chen Lin Is Buying Fracking Stocks And Selling Gold Holdings
Nov. 1, 2013
TheEnergyReport
Chen Lin, author of What is Chen Buying? What Is Chen Selling?, goes wherever he sees returns. In the summer, he bought mining stocks when the yellow metal hit $1,200 per ounce. Now, he's trading in his gold names and moving into the fracking space after a three-year hiatus. In this interview with The Energy Report, Lin names the companies he's buying to play a likely energy sector bottom and tells investors to actively manage their portfolios in the coming stock-picker's market.
Section of article:
CL: Recently I found a very interesting stock I've been accumulating. The company name is NXT Energy Solutions (OTC:NSFDF) [SFD:TSX.V]. It can fly airplanes over a field and detect if oil is present or not. It recently did a very large survey with PEMEX [Petróleos Mexicanos], the Mexican oil company. PEMEX already has seismic data on a certain field, they knew where it has oil deposits and where it doesn't. PEMEX asked NXT to fly over, and the results were shockingly good. NXT found every large field for PEMEX! The report is on the website. PEMEX is the co-author.
If NXT can continue like this, it can change the oil industry as we know it. You probably need seismic later on to pinpoint where the oil is, but you can fly a plane over a very broad space and then detect where the oil is. That will be a revolution in the oil industry. It's a very interesting company. It has a strong balance sheet. Recently it has started to go to the oil exploration companies and negotiate payment through royalties in exchange for its services. That can be a very interesting move. It's an interesting company. I think if everything's successful it has a very bright future.
TER: What is your outlook on energy in general for the next year?
CL: Like I said, I'm cautious about the oil price in 2014. The production from the U.S. and Canada is just amazing. If you read the Eagleford reports and Bakken reports you can see how many new wells are drilled. The completion techniques are getting better and deliver more oil production during the life of a well. I'm a little bit afraid the oil will fall much below $100/bbl. It's possible.
On one hand, you have very high oil prices now. Most of my energy companies are making money. They're doing fantastically. Though I'm not very confident the high oil price is here to stay. I want to remind everyone that if oil drops to below $80/bbl, the party of fracking stocks may be over. I would be careful and take profits as they go up. I'm going to watch the market month by month and see if the situation changes. I also believe that 2014 will be a stock pickers' market. If you pick the right stock with the right catalyst, a stock can go up a lot just on its own. That's what I'm looking at for 2014.
TER: Chen, thank you very much. This has been a fascinating conversation.
CL: Thank you. I appreciate it.
This interview was conducted by Tom Armistead of The Energy Report.
Chen Lin writes the popular stock newsletter What Is Chen Buying? What Is Chen Selling?, published and distributed by Taylor Hard Money Advisors Inc. While a doctoral candidate in aeronautical engineering at Princeton, Chen found his investment strategies were so profitable that he put his Ph.D. on the back burner. He employs a value-oriented approach and often demonstrates excellent market timing due to his exceptional technical analysis.
DISCLOSURE:
1) Tom Armistead conducted this interview for The Energy Report and provides services to The Energy Report as an independent contractor. He or his family owns shares of the following companies mentioned in this interview: None.
2) The following companies mentioned in the interview are sponsors of The Energy Report: None. Streetwise Reports does not accept stock in exchange for its services or as sponsorship payment.
3) Chen Lin: I or my family own shares of the following companies mentioned in this interview: Ithaca Energy Inc., Penn Virginia Corp., Harvest Natural Resources, BNK Petroleum, Rock Energy, RMP Energy and NXT Energy Inc. I personally am or my family is paid by the following companies mentioned in this interview: None. My company has a financial relationship with the following companies mentioned in this interview: None. I was not paid by Streetwise Reports for participating in this interview. Comments and opinions expressed are my own comments and opinions. I had the opportunity to review the interview for accuracy as of the date of the interview and am responsible for the content of the interview.
4) Interviews are edited for clarity. Streetwise Reports does not make editorial comments or change experts' statements without their consent.
5) The interview does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer.
6) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned and may make purchases and/or sales of those securities in the open market or otherwise.
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
http://seekingalpha.com/article/1797022-why-chen-lin-is-buying-fracking-stocks-and-selling-gold-holdings
investor15
11年前
Taylor MacDonald Unearths Profit-Makers in the Oil and Gas Service Sector
Source: Zig Lambo of The Energy Report (9/20/12)
Everyone agrees that high energy prices are here to stay, so most companies should perform well in the long run. But what about near-term opportunities? Taylor MacDonald, associate portfolio manager at Pathfinder Asset Management, is looking to service companies for industry outperformance. In this exclusive interview with The Energy Report, he describes why proprietary niche service companies virtually own the markets they are establishing.
Section of article:
TER: With regard to profit margins, how sensitive to oil prices are most companies at this point, relative to future exploration activities and the profits that they are making right now?
TM: Cost inflation is something that every single business space is currently experiencing, not just oil and gas. Companies must do whatever they can to become more efficient and save on exploration, development and production costs, etc. One company we are very keen on is Calgary-based NXT Energy Solutions (SFD:TSX.V; NSFDF:OTCBB), which has a disruptive, patented and patent-pending airborne survey technology for oil and gas exploration called Stress Field Detection (SFD).
SFD is a little difficult to explain, but it's essentially a jet with a passive sensor array on board that flies a grid over large swaths of land looking for drops in the gravity stress field. Surveys can be completed in one-tenth of the time and cost of 2-D and 3-D seismic surveys. This doesn't replace seismic, but rather pinpoints where to shoot the seismic. It allows companies to survey hard-to-reach areas with virtually zero environmental impact. The technology is fully proven and can be used onshore, offshore, and in mountainous terrain. It's been used and verified by Pacific Rubiales Energy Corp. (PRE:TSX; PREC:BVC), Pengrowth Corp (PGH:NYSE), Pemex (PEMEX:MSX), BP Colombia (NYSE:BP) and Ecopetrol (Colombia's national oil company).
To envision the process, imagine a river with a rock in the middle. As the river, an analogue for the stress field, reaches the rock, it will wrap around it. This means that the river, or again, the stress field, will have to change direction, which shows up in the gravity field, where the SFD can detect it. It's based on quantum physics. Flying a grid pattern, the SFD equipment measures and detects orientation changes in that stress. A trapped reservoir, for example, will affect the SFD, and allows delineation of prospective areas. The fluid could be oil, gas and/or water. The resulting data shows exactly where to shoot your 2-D and 3-D seismic.
This technology slashes permitting time, lessens environmental impact, and can literally save a company up to 90% on seismic acquisition costs. The technology only requires a flight plan, not exploration permits, which allows NXT to mobilize quickly instead of waiting up to three years just for the seismic permit. SFD also improves the success rate dramatically on wildcat exploration wells in frontier areas. NXT Energy has a growing revenue base and client list, with a rapidly increasing acceptance of the technology. It's also profitable on an earnings-per-share (EPS) basis over the last two quarters, and is a well-held and well-structured company. We think the company's future is very bright.
TER: Is this somewhat similar to airborne geophysical surveys for mineral deposits?
TM: Yes. But I would say this is much more precise in that it can tell you exactly where to find million-barrel fields. There's also the ability to locate water aquifers. Who knows where it could lead? This is one of the most interesting technologies I've seen in the business in my years in the industry.
TER: That's definitely a revolutionary technology. What else do you like in the services?
Continued ...
http://www.theenergyreport.com/pub/na/14393
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