With the addition of this new project, OMNI said its seismic drilling backlog now approaches $60 million--a substantial increase over backlog levels at this same time in previous years. Further, based on discussions with its customers, OMNI said it expects demand for its seismic drilling services to remain strong through 2007.
"We are very excited about this new drilling project and the current levels of our seismic drilling backlog," said James C. Eckert, OMNI's CEO. "This increased drilling activity bodes well for our future when combined with the higher demand being experienced for the services provided by our environmental unit, Trussco, Inc. and the ongoing integration of Preheat, Inc. With our management team returning their focus on our core business segments, we believe this combination will result in improved profitability translating into increased shareholder value."
OMNI's backlog represents those seismic drilling projects for which a customer has contracted OMNI and has provided it with a scheduled start date for the project. This scheduled backlog includes seismic drilling projects in the transition zone in addition to seismic rock drilling projects.
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