OMNI Wins $7 Million Seismic Drilling Contract
Omni Energy Services said that it has been awarded a $7 million contract to perform seismic drilling services on property located in East Texas. Work is scheduled to commence in the second quarter of 2006.
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.
- 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)