Neil Sherman, Partner and Managing Attorney for Schneiderman & Sherman, P.C., spoke with DS News at the 2016 Five Star Conference and Expo to discuss strategies default servicing attorneys can use to become better partners for their clients and customers.Sherman joined Schneiderman & Sherman, P.C. in 2002 focusing his practice in the areas real estate law, and specifically bankruptcy, foreclosure, and eviction processes. In 2006, Sherman became Managing Attorney and currently oversees all aspects of the firm’s operations including, but not limited to, the firm’s foreclosure, bankruptcy, eviction, REO, title, and litigation departments. Additionally, Sherman is also the Chairperson for the Legal League 100 Advisory Council. Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. Share Save About Author: Kendall Baer October 6, 2016 1,212 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Schneiderman & Sherman PC 2016-10-06 Kendall Baer Related Articles Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Eleventh Circuit Court Stops “Abuse of the Bankruptcy Process” Next: Altisource Residential Takes a Stride Toward Total SFR REIT Data Provider Black Knight to Acquire Top of Mind 2 days ago Print This Post in Daily Dose, Featured, Media, Webcasts The Best Markets For Residential Property Investors 2 days ago Tagged with: Schneiderman & Sherman PC The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Industry Law Firms Looking to Diversify For the Benefit of Servicers Home / Daily Dose / Industry Law Firms Looking to Diversify For the Benefit of Servicers Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribe
Wellesley Petroleum has successfully appraised the Grosbeak discovery in the Northern North Sea by wells 35/11-21S and 35/11-21A.The wells were drilled in production license Pl248I where Wellesley is the operator and holds a 60% operated interest.Well 35/11-21S encountered a gross oil column of 90 meters at the target Middle Jurassic Brent Group level.Wellesley said that, within this oil column, 45 meters comprised net reservoir with good to excellent reservoir properties. Extensive data was acquired from the reservoir interval including a successful well test which confirmed the high quality and good connectivity of the reservoir.Sidetrack well 35/11-21A encountered 20 meters of excellent quality gas-bearing reservoir and an 8 meter oil column in the shallower Upper Jurassic Sognefjord and Fensfjord formations. The underlying Brent Group reservoir comprised a 50 meter oil column in the Ness Formation with 9 meters of sandstones lying within the oil zone. Pressure data from these sandstones indicates good connectivity to the zone tested in the 35/11-21S well.The updated range of recoverable resources in the Grosbeak Discovery is 53 – 115 million barrels of oil plus 269 – 432 billion cubic feet of gas. The 35/11-21S and A wells have been plugged and abandoned and development studies will start.Chris Elliott, CEO of the Wellesley Group of companies, commented: “This is a very positive end to our operated drilling campaign in the Grosbeak area. Our pre-drill subsurface studies of Grosbeak indicated that the Brent Group sandstones were both predictable and well connected and this has been demonstrated by the appraisal wells, significantly reducing the development risk of this reservoir. The discovery of a separate, excellent quality gas reservoir in the Upper Jurassic also adds significant resources to what we expect to be a material and commercially robust future development.”The wells 35/11-21S and 35/11-21A were the first and second exploration wells in production license 248 I. Production license 248 was awarded in 1999 and production license 248 I was carved out in 2017.Wells 35/11-21 S and 35/11-21 A were drilled to respective vertical depths of 2564 and 2614 meters, and respective measured depths of 2776 and 2907 meters below the sea surface. Both wells were terminated in the Cook formation in the Lower Jurassic. Water depth at the site is 360 meters. The wells have been permanently plugged and abandoned.The wells were drilled by the Transocean Arctic, which will now drill wildcat well 30/6-30 in the northern North Sea in production license 825, where Faroe Petroleum is the operator.
Image courtesy of NakilatLNG vessels of Qatar’s Nakilat, the world’s largest liquefied natural gas (LNG) shipping company, have completed 38 transits of the expanded Panama Canal.Since the New Panama Canal has been in operation, Nakilat’s LPG vessels have transited through the Canal 16 times while joint-venture conventional LNG vessels completed 38 transits, with the company looking into the possibility of traversing the canal with its Q-Flex carriers.Nakilat said on Tuesday that it conducted compatibility studies and thorough assessments of Q-Flex class LNG carriers on safely transiting through the new locks in the near future.The expansion of the Panama Canal in 2016 allowed for bigger, Neopanamax class, vessels such as LNG carriers to now transit through the canal locks as they make their journey from East to West and vice versa. Passage through the canal allows vessels to shorten their voyage by about 13,000 kilometers.It is worth noting that the Panama Canal closed its 2018 fiscal year with a record tonnage of 442.1 million Panama Canal tons, boosted in particular by LNG and LPG transit.The first LNG tanker to pass through the newly expanded Panama Canal was the 161,870-cbm Maran Gas Apollonia in 2016, chartered by Shell.In October last year, the Panama Canal introduced changes to its transit reservation system to offer two slots per day to LNG vessels. These modifications have allowed the optimization of the Expanded Canal’s capacity, in order to meet specific demands such as the transit of four LNG vessels.The modifications unveiled in August 2018 and coming into effect on October 1, also lift certain daylight restrictions for LNG vessels, as well as meetings between LNG vessels in opposite directions in Gatun Lake. This increased the number of LNG passages with the Canal reporting four liquefied natural gas tanker crossings in one day in October.