SeaBird Exploration Wins Contract Worth up to $13M

Seismic data specialist SeaBird Exploration announced Friday that it has received a 'letter of award' for a major contract of 2D seismic work for the entire summer season from what it described as a "major client". The contract is worth between $11 million and $13 million to the company, it said.

The work will begin around mid-March this year and will be carried out using the 2D vessel Osprey Explorer. The vessel will tow a 7.5-mile (12-kilometer) long seismic streamer during the project.
 
The good news follows a profit warning that was issued by the Cyprus-based firm Monday, when it said that profits for the fourth quarter of 2011 would be lower than previously expected. SeaBird blamed a low utilization rate of its vessels as well as "multi-client" sales being lower than expected.
 

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Geologist / Environmental Engineer
Expertise: Environmental Engineer|Geologist
Location: Atlanta, GA
 
Sr. Geologist - Delaware Basin Subsurface Reservoir Characterization
Expertise: Geologist
Location: Midland, TX
 
GIS Analyst
Expertise: Cartography / Mapping|Modeling|Software Specialist
Location: Lafayette, LA
 
search for more jobs

Brent Crude Oil : $50.56/BBL 0.15%
Light Crude Oil : $47.7/BBL 0.70%
Natural Gas : $3.05/MMBtu 1.32%
Updated in last 24 hours