SeaBird Wins Wintershall Survey Contract

May 24, 2019

The provider of marine 2D and 3D seismic data and associated products and services to the oil and gas industry, SeaBird Exploration announced a contract award by Wintershall Dea for 2D acquisition in the Norwegian Sea.

The survey has an expected duration of one month and start in the third quarter this year, the Norwegian seismic player said in a press release.

Meanwhile, SeaBird has made further progress towards the completion of the acquisition of the Boa Galatea and Boa Thalassa vessels. It has reached an agreement with bondholders with respect to all material terms for the acquisition.

SeaBird earlier said that it is in an exclusive process to acquire the two seismic vessels in a transaction which values the vessels at NOK 185 million (close to $22 million).

On the basis of said agreement, the bondholders have today irrevocably exercised their option to acquire the holding company for the Vessels, in order to cause it to sell the Vessels to SeaBird pursuant to said agreed terms as soon as possible.

On this basis, the private placement is expected to complete shortly. SeaBird will revert with further information with respect to the completion of the Transactions.

SeaBird is a global provider of marine acquisition for 2D/3D and 4D seismic data, and associated products and services to the oil and gas industry.



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