Finance & Investing
News Services
Newsletters
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy
pledge.


advertisement

SeaBird: 3D Seismic Vessels Taking on More 2D Jobs

change text size

The offshore industry for 2D seismic surveys is seeing increasing competition from 3D vessels, according to Norway's SeaBird Exploration.

SeaBird said that its niche 3D seismic market is still to recover, with tender activity remaining below historical market levels. Meanwhile, overall 2D market activity has moderated, which the firm said would negatively affect its third quarter.

The company added that pricing in all segments and regions has generally remained firm but that it also believes that the current market situation may have a negative impact on pricing in the second half of the year. Meanwhile, multi-client "late sales" have been slower to materialize and securing pre-funding for new projects has been taking longer.

Despite the cautious outlook, SeaBird reported that revenues for the three months to July 31 increased 19 percent to $44.7 million compared to 2Q 2013 and it noted that these revenues were up 33 percent relative to 1Q 2014. Profit at the EBITDA level was $12.6 million, compared to $3.1 million for 2Q 2013 and $10.2 million for 1Q 2014.

 



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

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

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Intan Extends Charter for 5 OSVs to Em... (Nov 21)
 -  Bumi Armada's 3Q 2014 Net Profit Rises... (Nov 21)
 -  Technip Wins Brazilian Flexible Pipe D... (Nov 21)
 -  Snoozebox Wins Workforce Hotel Deal wi... (Nov 21)
 -  Shell, Petronas Carigali to Develop E6... (Nov 20)
Most Popular Articles
From the Career Center
Jobs that may interest you
Lab Technician / Chemist
Expertise: Chemist, Mud Engineer / Drilling Fluids, Workover or Completion
Location: Alvin / Houston, TX
 
CAD / Mechanical Designer / Drafter
Expertise: CAD/CAM, Drafting, Mechanical Engineering
Location: Houston, TX
 
MWD Field Specialist
Expertise: MWD/LWD
Location: US
 
search for more jobs