Seabird News

Norwegian company Green Energy Group has completed the sale of its Petrel Explorer seismic survey vessel.The company, which last year rebranded to Green Energy Group from Seabird Exploration to reflect a strategic shift in business towards green energy transition, in July entered into a binding agreement to sell the Petrel Explorer to an undisclosed buyer for an undisclosed sum.The transaction was completed on August 29, 2022, and the company handed over the vessel and received the transaction amount in full. "The sale of the non-strategic Petrel Explorer further strengthens the company`s balance sheet and liquidity, enabling us to deliver on our asset-light strategy while aiming to consolidate the seismic markets we are involved in…

The already endangered African penguin is being driven away from its natural habitat off the east coast of South Africa due to noise from ship refueling, a scientific study has found.The number of African penguins on St Croix island in Algoa Bay, once the world's largest breeding colony of the birds, has plummeted since South Africa started to allow ships in the area to refuel at sea, a process known as bunkering, six years ago, the study found.Situated in a busy shipping lane along South Africa's east coast…

Norwegian company Green Energy Group has agreed to sell its Petrel Explorer seismic survey vessel.The company, which last year rebranded to Green Energy Group from Seabird Exploration to reflect a strategic shift in business towards green energy transition, said Monday it had entered into a binding agreement to sell the Petrel Explorer to an undisclosed buyer for an undisclosed sum.The sale is expected to be completed in about four weeks and will see the vessel leave the offshore industry, Green Energy Group, whose offshore seismic business area maintains the SeaBird Exploration name and operates as a subsidiary, said."The sale of the non-strategic Petrel Explorer further strengthens the company's balance sheet and liquidity…

Marine seismic firm SeaBird Exploration, a subsidiary of seabed minerals-focused Green Energy Group, said Friday it had received notice of termination regarding work for the Fulmar Explorer vessel.SeaBird in October said it had entered into a firm duration one-year contract for the Fulmar Explorer "with a repeat customer." "The contract was to begin in November 2021.However, the company said Friday that a termination notice came for the client and that it "has not accepted the termination.""The two parties are currently in discussions with the aim of finding a solution," SeaBird said."The Fulmar Explorer is currently in Galveston, Texas and has against this contract been outfitted as a high-end OBN source vessel.

Seismic services company SeaBird Exploration has signed a letter of intent for a source vessel contract with an unnamed "leading operator."The company did not say where the vessel would be deployed exactly apart from saying it would be in the Western Hemisphere.According to SeaBird, the operator has specifically requested the Fulmar Explorer vessel for the work program. The 80.35 meters long Fulmar Explorer, built in 2009, joined the SeaBird Exploration fleet in 2019. The vessel's previous name was BOA Galatea.The contract is expected to start in Q4 2021 and has an expected duration of about 4 months. "To this end, SeaBird Exploration delivers on its main growth targets for 2021…

New Zealand’s Westfleet Seafoods, based in Greymouth, has earned an international reputation for quality and sustainability. While their fleet includes some mid-water trawlers, their preferred method of catching is longline. This method is noted for the quality and selectivity of the catch.The company’s current fleet includes five vessels, two of which are modern longliners. The success of these vessels has prompted the firm to order an additional longliner for delivery in early 2022.

Norway's oil and gas reserves have made it one of the world's wealthiest countries but its dreams for deep-sea discovery now center on something different.This time, Oslo is looking for a leading role in mining copper, zinc, and other metals found on the seabed and in hot demand in green technologies.Norway could license companies for deep-sea mining as early as 2023, its oil and energy ministry told Reuters, potentially placing it among the first countries to harvest seabed metals for electric vehicle batteries…

Texas-based Gulf Copper and Manufacturing said it has been awarded a $3.9 million dry docking and refurbishment of the NOAA research vessel Henry B. Bigelow. The work will be performed at Gulf Copper's Galveston yard.Commissioned in 2007 and homeported in Newport, R.I., Henry B. Bigelow is a fisheries survey vessel that studies a wide range of marine life and ocean conditions along the U.S. East Coast, primarily from Maine to North Carolina. The ship's main mission is to study and monitor fish stocks…

NOAA has awarded a lease to Massa Industries, LLC for office space in Middletown, R.I., that will temporarily house a new marine operations support facility for Rhode Island-based NOAA ships Henry B. Bigelow and Okeanos Explorer.The Middletown facility will also support NOAA personnel engaged in the design and construction of a new pier for the two ships and a permanent NOAA marine operations support facility at Naval Station Newport. NOAA expects to occupy the interim facility in the fall of 2020 and relocate it to the naval station in 2023.“With an expanded presence in Rhode Island…

Three Micronesian sailors stranded on a remote Pacific island drew a giant SOS message in the sand to attract the attention of rescuers, who found them three days after they went missing at sea.Australian and U.S. aircraft located the men on tiny Pikelot island, about 200 km (124 miles) west of where they had set off in a seven-metre (23-ft) skiff before veering off course and running out of fuel."I am proud of the response and professionalism of all on board as we fulfil our obligation to contribute to the safety of life at sea wherever we are," the Australian Navy's Capt.

SeaBird Exploration, a global provider of marine 2D and 3D seismic data and associated products and services to the oil and gas industry, has estimated that its ongoing seismic surveys in West Africa and Americas will both be completed about two months later than originally planned.The the ongoing niche 3D survey in West Africa utilizing the “Nordic Explorer” and a 2D survey in the Americas employing the “Harrier Explorer” are rigged with the ”Digistreamer” technology and both surveys are affected by difficulties with availability and lead-time of select seismic streamer equipment parts relating to this technology.This includes a significant increase in the repair period for streamer sections compared to historic experience caused by the service offering…

The global offshore oil and gas seismic equipment and acquisitions solutions market stood at around $660 million in 2018 and is forecast to grow at a CAGR of 5% to cross $890 million by 2024.According to a report by ResearchAndMarkets, the growth of global offshore oil and gas seismic equipment and acquisition solutions market is majorly attributable to rising investments in oil & gas exploration activities, stability in crude oil prices and an increasing number of strategic partnerships.Moreover, the increasing demand for oil and gas is resulting in rising exploration activities to find more oil and gas reserves, which in turn, is further fueling the growth of global offshore oil and gas seismic equipment and acquisitions solutions market.In terms of type…

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…

Norwegian seismic acquisition company SeaBird Exploration said  it is in an exclusive process to acquire the seismic vessels BOA Galatea and BOA Thalassa owned by BOA Offshore in a transaction which values the vessels at NOK 185 million ($22 million).The BOA Vessels are well suited for source and 2D operations, as well as EM seabed logging, for which BOA Thalassa is currently contracted with EMGS ASA until September 2019 with options for EMGS ASA to extend for three periods of six months each.In order to finance the acquisition of the BOA Vessels, as well as to finance an upgrade of BOA Galatea to high end 2D / source capability, the Company is contemplating a private placement of new shares  in the Company raising gross proceeds of minimum NOK 225 million and maximum of NOK 250 million.

Marine surveyor SeaBird Exploration said on Monday it has been awarded two new contracts, including one in West Africa and another in the Gulf of Mexico.The company said it received a letter of award for a niche 3D survey in West Africa, with a total value of approximately $6.5 million. The survey is expected to commence in the second quarter of 2019, with a total duration of about 80 days including associated vessel transit.Due to fleet positioning and other contract opportunities, SeaBird will time-charter the Nordic Explorer for this survey and will also bid the vessel for subsequent opportunities in the second half of 2019. In connection with the charter agreement…

At the end of December, the U.S. Army Corps of Engineers (ACE) announced its selection of ten dredging projects that will form the core of a pilot program to advance the beneficial use of dredged material.The recent U.S. Army Corps of Engineers’ announcement culminated a program required by Congress, established within the Water Resources Development Act (WRDA) of 2016, specifically Section 1122. Congress directed that the ten pilot projects selected were required to present environmental…

Norwegian seismic surveyor SeaBird Exploration said it had taken delivery of the Geowave Voyager from France's CGG, and the vessel has been renamed Eagle Explorer.The vessel was acquired fully rigged with 40km streamer and dual source, for $17 million and a NOK 120 million private placement.As part of the purchase agreement, SeaBird will have a preferred supplier status with CGG when using the Eagle Explorer.SeaBird and CGG have entered into a 160-day contract for the vessel, operating as a source vessel, with options for CGG to extend.The vessel will go to work starting in December, after completing class renewal.

NOAA presented awards to 13 global shipping firms for their commitment in helping prevent ship collisions with whales off the coast of California.The companies participated in a Voluntary Speed Reduction initiative by slowing their ships to speeds of 10 knots (about 11.5 mph) or lower while transiting vessel traffic lanes outside the Golden Gate during whale feeding season, from May through mid-November.The national marine sanctuaries of North-central California - Greater Farallones…

SeaBird Exploration announced it is in an exclusive process to acquire the seismic vessel Geowave Voyager and certain seismic equipment from Exploration Vessel Resources II AS, a wholly owned subsidiary of CGG S.A., for a cash consideration of $17 million.SeaBird intends to carry out a private placement of new shares in the company raising gross proceeds of minimum NOK 80 million and maximum of NOK 120 million. The subscription price  in the Private Placement will be determined through an accelerated book-building process. The net proceeds from the Private Placement will be used to finance the Transaction and for general corporate purposes.The company is currently in an exclusive process with CGG to acquire the seismic vessel Geowave Voyager…

SeaBird Exploration, a global provider of high end 2D, source and shallow water 2D/3D seismic services and associated products to the oil and gas industry, appointed Hans Petter Klohs as new CEO of the Company. The Board of Directors of the Company announced that The appointment takes effect as of 24 June 2018. Klohs has extensive senior executive management experience from Norwegian publicly listed entities in both oil service and oil & gas. Previous senior positions include serving as CFO and later as CEO in GC Rieber Shipping ASA for over 10 years, serving as CEO in Arrow Seismic ASA and Armada Seismic ASA, and acting as CFO in Rocksource ASA. Klohs intends to resign from his position as board member of the Company as a consequence of the appointment.

Cyprus-based provider of marine 2D and 3D seismic data and associated products and services to the oil and gas industry, SeaBird Exploration has signed an agreement to provide a source vessel for an upcoming survey in West Africa. The project is anticipated to commence during Q1 and will have a duration of approximately 60 days. SeaBird will be using the Osprey Explorer for the project. The 1985-built vessel joined SeaBird’s fleet in August 2006 after being converted to 2D long offset/source vessel in Poland. Meanwhile, SeaBird Exploration recorded a 42.2% active vessel utilization in the fourth quarter of 2017  compared to 22.1% in Q3. Its revenues for the quarter were $5.5 million, an increase of 59% compared to Q4 2016 and up 106% relative to Q3 2017.

Marine seismic survey provider SeaBird Exploration has entered into a settlement agreement with Ordinat Shipping AS, the owners of Munin Explorer, for the termination of the charter party agreement and redelivery of the vessel. The transaction is conditional on the fulfilment of certain preconditions and is expected to be approximately cash neutral to the company in 2018 and 2019. The company is estimating that the transaction will save in excess of $2 million over the term of the contract, including the forgiveness of the $2.4 million charter hire payment due 30 June 2020. The settlement agreement provides for a three year non-competition restriction whereby the vessel cannot compete in the company's markets.

SeaBird Exploration will propose to its bondholders and certain of its other creditors a debt restructuring of the SeaBird group that if successfully completed will facilitate a comprehensive restructuring of the group's balance sheet. Following the Restructuring the debt in Seabird will be reduced by USD 22 million and lease obligations will be reduced by USD 10.4 million. The remaining debt under the SBX04 bond loan and the Glander credit facility will be a total of USD 5.0m and the remaining lease obligations (payable in kind until maturity) will be USD 2.4m. The completion of the Restructuring is subject to the satisfaction of a number of outstanding conditions outside the control of the Company.