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SAE nets USD 45m-worth of seismic contracts

29th January 2015

SAExploration Holdings has announced new project awards for ocean-bottom marine seismic data acquisition services collectively valued at approximately USD 45m

SAExploration Holdings has announced new project awards for ocean-bottom marine seismic data acquisition services collectively valued at approximately USD 45m
The company expects to execute the projects during the second and third quarters of 2015

"We are very pleased with our ability to secure these projects,” said Brian Beatty, president and CEO of SAE.

“These awards reinforce our expectation for continued development of ocean-bottom seismic markets globally and further solidify our strong position within this emerging space. We believe our expertise and experience in performing ocean-bottom seismic services combined with our focus on niche complex onshore markets will offer us unique pockets of opportunity as we progress through a challenging market environment."

The company expects to execute the projects during the second and third quarters of 2015.

These projects will be performed using ocean-bottom nodal seismic recording technology equipped to successfully operate in water depths ranging from zero to 3,000 metres deep. SAE will utilise its currently available equipment and personnel to execute the projects with no new capital expenditures required.

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