SeaBird Exploration Plc (“SeaBird”) informs that a contract previously announced for the Voyager Explorer with a national oil company in the Asia Pacific region, has finally been cancelled after a series of delays.
The contract had an estimated duration of about 110 days and commencement was expected mid-November. The contract value was about USD 16 million.
The company is considering alternative opportunities for the vessel. The cancellation of the Voyager Explorer will negatively impact the utilization for the company.
SeaBird is a global provider of marine acquisition for 2D/3D and 4D seismic data, and associated products and services to the oil and gas industry. SeaBird specializes in high quality operations within the high end of the source vessel and 2D market, as well as in the shallow/deep water 2D/3D and 4D market.
Press Release, December 12, 2013