SeaBird Exploration gets contract extension for Harrier Explorer
SeaBird Exploration Plc ("SeaBird") has negotiated an early termination of the current contract on the Harrier Explorer against a fee, and that the vessel has been contracted to MultiClient Geophysical ASA (MCG), the company reports. The contract is a completion of the Barbados multi client survey started in 2012. Duration is estimated to 30 days with an option to extend approximately 25 days. Total contract value for the firm period is about USD 3.8 million, including payment for the work carried out in 2012. Estimated contract value for the optional period is USD 1.9 million.
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. SeaBird specializes in high quality operations within the high end of the source vessel and 2D market, as well as in the shallow/deep water 2D/3D and 4D market. Main focus for the company is proprietary seismic surveys (contract seismic). Main success criteria for the company are an unrelenting focus on Health, Safety, Security, Environment and Quality (HSSEQ), combined with efficient collection of high quality seismic data. All statements in this press release other than statements of historical fact are forward-looking statements and are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include SeaBird`s reliance on a cyclical industry and the utilization of the company's vessels. Actual results may differ substantially from those expected or projected in the forward-looking statements.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
