Unconventional Wisdom from Dolphin Geophysical CEO
Atle Jacobsen, the CEO of Dolphin Geophysical, is, in many ways, a bit of a paradox. An experienced, no-nonsense, veteran of the marine seismic surveying industry, he is also disarmingly easy to “talk shop” with, engaging and has an obvious thirst for new ideas and technology. But the core contradiction lies in his approach to business. This is a man that shows no qualms about ripping up the rulebooks and making brave decisions, but at the same time there is a steadfast caution that underpins the very essence of the Dolphin business model.
CGGVeritas to Acquire Wavefield
CGGVeritas (ISIN: 0000120164 - NYSE: CGV) announced today it will make a voluntary exchange tender offer for 100% of the shares of Wavefield Inseis ASA ("Wavefield") (OSE: WAVE). Wavefield is a Norwegian pure-play seismic company which operates a fleet of 8 vessels and develops geophysical equipment based on fiber optic technology. In the third quarter 2008, Wavefield revenue was $110m, and operating income was $37m. The transaction strengthens CGGVeritas' fleet capability with immediate access to five recently equipped high capacity 3D vessels. The additional complement of three mid 3D and 2D Wavefield vessels increases overall fleet management flexibility.
StatoilHydro Awards Seismic Contracts
The contracts, covering surveys on the Norwegian Continental Shelf, the Faroes and , has been awarded to PGS Geophysical, CGG Veritas and Wavefield Inseis. The award to PGS Geophysical also includes use of new technology for three dimentional surveys. This technology makes the seismic operations less dependent on benign weather and improves the production of seismic data. StatoilHydro will also pioneer the use of an alternative streamer steering technology. This will facilitate the shooting of seismic to be compared with former seismic surveys and thus provide more reliable results for four-dimentional studies. Four vessels from PGS Geophysical…
StatoilHydro Secures Six Seismic Vessels
StatoilHydro has signed a letter of intent for six seismic acquisition vessels which will gather data on the Norwegian continental shelf (NCS). Secured seismic capacity includes three petroleum geo-service (PGS) vessels - Ramform Challenger, Ramform Sovereign and Atlantic Explorer, as well as Fugro Geoteam's Geo Celtic, Wavefield Inseis's Geowave Commander and Western Geco's Geco Triton.
