UK, US, Singapore Entities of Dolphin Geophysical Ltd Continue to Operate
The UK processing and multi-client operations of Dolphin Geophysical Ltd are operating as normal, according to a company statement, despite the Norwegian entities of Dolphin Group ASA and Dolphin Geophysical AS having filed for bankruptcy Dec 14.
Ongoing processing contracts in the UK are continuing and the banks are supporting a 'business as usual' approach, paying staff salaries and maintaining operations. Multi-client sales are also continuing as normal and the UK branch has made it clear that it is not a part of the bankruptcy estate. The Singapore and US businesses are also continuing to operate.
Gareth Williams, chief geophysicist at Dolphin Geophysical Ltd, commented in a company statement:
“We will not only continue to fulfil our commitment under existing contracts but will also continue to bid on new projects as well. Our backlog currently stretches well into the second half of 2016 and we will continue to aggressively target suitable additional work.”
WHAT DO YOU THINK?
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.