Polarcus Snaps Up Dolphin’s Streamer Package

Oslo-listed seismic contractor, Polarcus, has acquired a complete marine seismic in-sea acquisition system from bankrupt seismic player Dolphin Geophysical.

Dolphin filed for bankruptcy in December last year after failing to secure financial support to keep the business afloat. The company’s UK business is still in operation.

Polarcus acquired the streamer package for a price of USD 11.5 million. It comprises 12 x 8100m active streamers and all peripheral in-sea equipment.

According to the company’s Stock Exchange announcement, the purchase provides Polarcus with its planned seismic CAPEX requirements for the next three years, and is within its previously guided CAPEX budget for 2016.

The purchase is partly financed through a loan of USD 8 million.

Subsea World News Staff

Share this article

Follow Subsea World News

Events>

<< Jan 2018 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

Subsea Expo 2018

The largest wholly-focused subsea event in Europe, Subsea Expo is organised by industry body Subsea UK…

read more >

8th Myanmar Oil, Gas & Power Summit

The Myanmar Oil and Gas Summit is the longest established Oil & Gas event in Myanmar. Every year the event is attended by government…

read more >

European Gas Conference 2018

The European Gas Conference celebrated its tenth anniversary amid an air of increasing optimism following considerably shifting markets in the last few years…

read more >

SPE/IADC Middle East Drilling Technology Conference and Exhibition

The theme for this conference is “Building on Today’s Efficiencies for Tomorrow’s Market.” This will be the basis for the technical agenda…

read more >