Spectrum Closes Acquisition of Carmot Companies (Norway)

Spectrum announced that it’s acquisition of Carmot Seismic AS and Carmot Processing AS has now been closed with no changes to the agreed compensation.

The acquisition establishes a significant footprint for Spectrum on the Norwegian Continental Shelf adding 3D seismic data cubes covering approximately 125,000 square kilometers of the Norwegian Continental Shelf and more than 80,000 kilometers of merged and matched 2D data in the Barents Sea.

Spectrum will following this acquisition offer 3D cubes covering approximately 60,000 sq. km in the North Sea, approximately 50,000 sq. km in Mid-Norway and approximately 17,000 sq. km in the Barents Sea. Velocity cubes covering these three areas are also available.

Total valuation of the Carmot companies is approximately USD 3,7 million.

[mappress]
March 05 , 2013