Polarcus has announced the purchase of a complete marine seismic in-sea acquisition system (Streamer Package) from Dolphin Geophysical, for a price of US$11.5 million. The Streamer Package comprises 12 x 8100m active streamers and all peripheral in-sea equipment.
The purchase provides Polarcus with its planned seismic CAPEX requirements for the next three years, and is within the company's previously guided CAPEX budget for 2016. The purchase is partly financed through a loan of $8 million which also improves the company's cash flow in 2016.