Omni's Seismic Drilling Backlog Remains Strong
Omni Energy Services Corp. said Tuesday that its seismic drilling backlog remains strong at more than $56 million. Additionally, the Company said that milder than expected weather conditions during the early part of this year have contributed to better than expected production activity.
Commenting on the increased seismic drilling backlog and increased production activity, James C. Eckert, Chief Executive Officer, said, “The outlook for seismic drilling during fiscal 2007 continues to be very encouraging, as our backlog now tops $56 million. Our seismic drilling customers are not typically adversely influenced by short term changes in commodity prices. Additionally, milder than normal weather patterns have permitted increased drilling activity as we begin 2007. We expect this improved activity will result in higher utilization of equipment and personnel, ultimately resulting in improved profitability and increased shareholder value. The increased seismic drilling activity and the continuing successful integration of our most recent acquisition, Rig Tools, Inc., along with the well-received expansion into the Rocky Mountain region and the successful re-opening of our Venice, Louisiana dockside operations, has allowed us greater focus on certain strategic and organic growth opportunities available in the marketplace. These events combined with the anticipated completion of the recently announced acquisition of Charles Holston, Inc. should result in a very exciting fiscal 2007.”
Headquartered in Carencro, LA, Omni Energy Services Corp. offers a broad range of integrated services to geophysical companies engaged in the acquisition of on-shore seismic data and to oil and gas companies operating primarily in the Gulf of Mexico. Omni provides its services through three business divisions: Seismic Drilling (including drilling, survey and permitting services), Environmental Services and Equipment Leasing. Omni’s services play a significant role with geophysical companies who have operations in marsh, swamp, shallow water and the US Gulf Coast also called transition zones and contiguous dry land areas also called highland zones.
- OMNI Puts Cleaning Technology to Work on GOM Platform (Jan 21)
- OMNI Installs First I.M.P.A.C.T. Systems Offshore (Nov 17)
- OMNI Scores Seismic Drilling Contract in Marcellus Shale (Oct 21)