Operator/Affiliates
Aspect Energy
Founded in 1993, Aspect Energy, LLC, is a privately held, Denver-based, independent oil and gas exploration and investment company. Aspect is a leading explorer in the upper-Texas Gulf Coast and southwest Louisiana onshore regions, founded on the application of proprietary 3D seismic technology. Through strategic use of technology, Aspect has carved out a dominant land and proprietary seismic data position in the Gulf Coast.
Exploration success (1997-2005)
More than 430 gross exploration wells drilled
- 62% exploration success rate
- More than 200 net BCFE proven developed reserves, with a PV10 value of approximately $653 MM
- Net daily production of 60,000 MCFE
Aspect Energy, LLC is a privately held independent oil and gas exploration and energy investment company established originally as Aspect Resources in 1993 by Alex Cranberg. Mr. Cranberg chose the name Aspect to reflect his long-standing philosophy of approaching challenges from every possible aspect. Generating innovative answers by examining every potential solution is at the core of the Company's beliefs.
Aspect Energy and its affiliates have assembled some of the industry's greatest talents. These employees form the backbone of a group of companies leading their peers in each of the regions in which they operate. Aspect's people, creative use of technology, and unique approach to solving problems combined with their drive to succeed have served as a foundation for the Company's success.
From 1998-2006, Aspect and its partners spent $ 940 million to drill over 525 wells. Together they recognized a success rate of 59% finding 703 Bcfe in reserves worth $1.89 billion (PV10). For wells in which Aspect was the Exploration Operator: From 1998-2006, Aspect and its partners spent $540 million to drill over 318 wells. Together they recognized a success rate of 61% finding 437 Bcfe in reserves worth $1.25 billion (PV10).
Aspect and its affiliate companies will have combined revenues of ~ $360 million in 2007 and expected exploration and development capital expenditures of $180 million. Combined daily production net to Aspect and its affiliates is currently ~ 18,300 boe/day.
Ascend Geo Company, LLC– Seismic Equipment and Acquisition
Ascend Geo, LLC, a wholly owned subsidiary of Aspect Energy, LLC, was established to develop a cost effective, flexible system for land-based seismic data acquisition, in response to Aspect's rising seismic acquisition costs.
Basing the design on cable-free technology, Ascend Geo developed a commercial system for the market, the Ascend's Ultra▲™ - a flexible, expandable, portable, continuous recording seismic acquisition system.. Ultra▲™ has proven its value in the field as the most cost effective, performance-optimized system in the industry. The intelligent design offers acquisition contractors and oil and gas companies a flexible and realistic approach to higher density seismic imaging.
Proven to increase seismic crew productivity and profitability, Ultra delivers:
- Increased image density and spatial sampling by seamlessly extending conventional cabled systems or utilizing full cable-free surveys
- Lower acquisition costs by simplifying crew operations, reducing crew size and cycle time
- Flexibility for random deployment, access in urban and delicate environmental areas, and more efficient layout in rough and challenging terrain.
- Dramatically reduced weight, lower HS&E risks, and equipment requirements
The Ultra▲™ system provides companies the leverage they need to increase the channel count of their existing hardware, or to enter the cable-free market with a high channel-count capable system. Virtually any form of array-based or multi-component acquisition for standard or time-lapse imaging is supported. The Ultra▲™ System is well-suited for low impact seismic , surgical 3Ds, or large active and passive seismic acquisitions..
The flexibility, portability and environmental footprint of the Ultra▲™ System enabled Aspect Energy to successfully find and produce the first ever oil in Belize in 2005. The system is an integral tool in Aspect Energy's development of their global resource plays in the US, Central America, and Hungary.
