SeaBird: Contract for ‘Voyager Explorer’ Canceled

SeaBird Exploration Plc reported 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, December 12, 2013