Financially troubled ocean bottom node seismic player Axxis Geo Solutions has decided to apply for bankruptcy protection. Axxis said on Tuesday it failed to reach agreement with all creditors in order to implement a voluntary solution to refinance the company. Earlier this year, the Oslo-listed comp
ConocoPhillips Australia and 3D Oil are proposing to undertake the Sequoia 3D marine seismic survey within exploration permit T/49P in the Otway Basin, west of Tasmania’s King Island. The purpose of the Sequoia 3D survey is to acquire geophysical data to provide a 3D image of the subsurface geology
Norwegian shipowner GC Rieber Shipping has slipped into the red in the fourth quarter of 2020 on impairment of Subsea & Renewables vessels. GC Rieber Shipping had a net loss of NOK 44.9 million in Q4 2020 including impairment of the Subsea & Renewables fleet of NOK 37.1 million, compared with a net
Seabed seismic player Magseis Fairfield has secured a new deep-water 4D OBN monitor survey in the US Gulf of Mexico for a repeat customer. The company plans to carry out the survey with its ZXPLR technology, currently in use for ongoing projects in the same geographical area. Mid-December last year,
Oslo-listed seismic player TGS is launching a new energy-transition-focused business unit – New Energy Solutions (NES). In a statement on Thursday, TGS said it aims to establish itself as the leading provider of data and insights directed towards industries actively contributing to the reduction of
Seismic exploration company Shearwater has secured additional work this month comprising two 3D surveys offshore Western Australia. The company has not disclosed the client nor the financial details surrounding the deal. The three-month campaign comprises more than 3,200 square kilometres. It should
Magseis Fairfield has won a contract for a deep-water ocean bottom node baseline 3D survey offshore Angola for an undisclosed energy major. According to the Oslo-listed company, the project should start in Q2 2021 and run for approximately three months. “Our ocean bottom node technology has delivere
The Grand Court of the Cayman Islands has appointed FTI Consulting liquidators to financially troubled seismic contractor Polarcus. The company’s assets were taken over by its lenders following a loan default earlier this year. Last week, Polarcus received notification from the lenders that they no
PGS remains carefully positive even with red numbers in the fourth quarter of 2020 as revenues fell some 37 per cent. The Oslo-listed seismic player reported quarterly loss of $60 million, or 16 cents per share on revenues of $208 million. This result compares against profit of $10 million on around
Seismic player Polarcus has received notification from the lenders that they no longer support the continuation of the company’s operations. Following the recent loan default, Polarcus’ lenders took control of its vessels and shipholding unit and also replaced the directors of its subsidiaries contr
Seismic contractor PGS has completed GeoStreamer acquisition on 17th Round Blocks in Campos Basin offshore Brazil. Ramform Titan has surveyed additional open acreage to complete PGS coverage of the emerging plays of the outboard Campos Basin. This survey provides the first 3D seismic for Brazil’s 17
Seismic exploration company Shearwater GeoServices said it has secured a marine seismic 3D survey in Southeast Asia. The project should start in the second quarter of this year and last for about two months. It covers approximately 1,500 square kilometres. Shearwater has not disclosed the client nor
Seabed seismic player Magseis Fairfield has won a 4D ocean bottom node monitor survey in the Norwegian North Sea for an undisclosed E&P company. The survey should commence late in the first quarter 2021 and last for approximately 1 month. Magseis Fairfield CEO, Carel Hooijkaas, said: “This project i
Oslo-listed SeaBird has recognised net loss of $3 million for Q4 2020, against net loss of close to $12 million in the same period in 2019. Full-year result was also negative, but improved compared to 2019 ($13 million loss vs. $23.3 million loss). The seismic player, which is targeting seabed minin
