SeaBird Exploration: Decommissioning of Hawk Explorer
31 10월 2016 - 4:01PM
31 October 2016, Limassol, Cyprus
SeaBird Exploration announces that agreement has
been reached for the sale and decommissioning of the vessel Hawk
Explorer. The decommissioning of the vessel is a part of the
company's efforts to reduce cost and adjust fleet capacity to
better reflect current market demand. The company will retain the
seismic equipment of the vessel.
On 1 September 2016, it was announced that the
company entered into an agreement to purchase the Hawk Explorer and
related equipment. The purchase contract also called for the
cancellation of all future lease payments and additional
obligations as required under the then prevailing charter
agreement.
The purchase, the cancellation of the lease
agreement and the subsequent sale of the vessel, is estimated to
result in a net pre-tax loss of approximately USD 8.9 million in Q3
2016.
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 specialises 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.
For further queries contact:
Christophe Debouvry
CEO SeaBird Exploration
Phone: +47 22402705
or
Nils Haugestad
CFO SeaBird Exploration
Phone: +47 22402717
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: SeaBird Exploration Plc via Globenewswire
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