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Spectrum Asa News

03 May 2019

TGS Acquires Spectrum

Seismic survey company TGS-NOPEC Geophysical Company (TGS) said it will acquire rival seismic survey company Spectrum ASA.The transaction is expected to be completed as a statutory merger pursuant to Norwegian corporate law between TGS and Spectrum, with merger consideration to Spectrum shareholders in the form of 0.28x ordinary shares of TGS for each Spectrum share, in addition to a cash consideration of $0.27 multiplied by the Exchange Ratio subject to the transaction closing after the ex-date for the TGS dividend payable in th third quarter of 2019 (expected to be early August 2019).Definitive merger documents are expected to be entered into during May…

26 May 2016

Prosafe Appoints Interim Chairman of the Board

Glen Rødland (Photo: Prosafe)

Prosafe, owner and operator of semi-submersible accommodation vessels, informs that its Chairman, Harald Espedal, has notified the company that he will step down from his position as Chairman and Director of the Board “for work load reasons”. Prosafe’s board has accepted the resignation and appointed Glen O. Rødland as interim Chairman of the Board. Rødland, currently a senior partner at HitecVision, has 25 years experience in shipping, oil and gas and other industries, with extensive experience as an analyst and in corporate finance.

09 Sep 2015

Spectrum in Somalia Seismic Pact

Spectrum ASA entered into a Multi-client master co-operation agreement with the federal government of Somalia during a signing ceremony on September 5th at the SYL Hotel, Mogadishu. The agreement allows Spectrum to acquire approximately 28,000 km of long offset 2D seismic data offshore south Somalia. The new acquisition has been specifically designed to complement 20,000 km of existing seismic that was acquired in 2014. Spectrum has also been granted the marketing rights for this data. Together, these seismic surveys will allow the in-depth study of hydrocarbon prospectivity offshore Somalia, which lies in close proximity to major discoveries on the East African margin. Spectrum will use its global reach to market both data sets and raise industry interest.

02 Jun 2015

Fugro to Divest its Multi-Client Data Library to Spectrum

The multi-client library business has been non-strategic since the divestment of the majority of Fugro’s geoscience activities in 2013, and this transaction is consistent with Fugro’s strategy to focus on its geotechnical and survey activities going forward. The multi-client library consists of high quality seismic data in support of oil and gas exploration. The database contains about 1.6 million kilometres of 2D and over 140,000 square kilometres of 3D seismic data, with a focus on Australia and Norway. Paul van Riel, CEO: “We are pleased with the agreement reached with Spectrum. This divestment is a logical consequence of our strategic decision, as communicated in February this year, to focus on our core activities, where we have market leading positions.

23 Apr 2014

Offshore Oil & Gas: Brazil’s Northern Frontier

In an effort to spread out oil and gas production to other parts of the country and increase overall oil production, Brazil has finally intensified hydrocarbon exploration along its northeastern and northern coasts. These are some of the poorest regions in the country and infrastructure for oil and gas exploration is minimal, yet significant discoveries and seismic indicators of large reservoirs are tantalizing and have attracted major local and foreign investors. Potential for oil discoveries in the area is proven, yet players will be faced by many challenges offshore and on land in order to uncork reservoirs at the Northern Frontier.

26 Sep 2012

Charter Extended on Seabird's 'Hawk Explorer'

Photo courtesy of Seabird Exploration

SeaBird Exploration Plc announce that the contract for 'Hawk Explorer' has been extended by Spectrum ASA for a minimum of 2 months. Hawk Explorer is a 2D seismic survey vessel of LOA 66 m, breadth 14.5 m. and draft of 5.8 m with a transit speed of 12 kts. 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.