Green Light for Magseis – Fairfield Deal

Norwegian seabed seismic services player Magseis has gained competition clearance from the Federal Trade Commission and the Antitrust Division of the United States Department of Justice to acquire the Seismic Technologies business from Fairfield.

The acquisition comprises data acquisition, nodal and system sale & rental activities including all shares in Fairfield’s wholly owned UK subsidiary WGP Group.

The consideration in the transaction comprises a combination of cash, Magseis shares, warrants and an earn-out payment, with the agreed purchase price based on an enterprise value of approximately USD 233 million.

The transaction now remains conditional upon Magseis being able to raise the required funds, and the Extraordinary General Meeting of Magseis passing the resolutions on 12 December 2018 or shortly thereafter.

Completion of the transaction is expected to occur on or about 19 December 2018.

As reported earlier, the transaction does not include the data licensing or data processing business of Fairfield.

The combined organization will comprise approximately 430 full-time employees and be structured in three business areas: Eastern Hemisphere Operations (Headquarters in Oslo, Norway); Western Hemisphere Operations (Headquarters in Houston, USA); and Technology.

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6th Offshore Well Intervention Conference Gulf of Mexico

The Offshore Well Intervention Gulf of Mexico conference (OWI GOM) is returning to Houston, Texas for its sixth year on Wednesday 20 – Thursday 21 November.

Featuring Anadarko, BP, Shell, Chevron, BHGE and Oceaneering, the conference aims to help operators transition to the latest compliance updates, WI systems and business models that enhance safety, quicken well access and improve commerciality.

Across two days, more than 200 delegates, 15 exhibitors and 30 speakers will network together and create solutions to some of the most pertinent industry challenges right now, through a conference programme focused on:

  1. Clarifying compliance updates
  2. Quicker well access and safer well control
  3. ​Understanding HPHT well intervention (systems)
  4. Forecasting well intervention activity, discussing new commercial models and comparing platform options
  5. Best practice riserless well intervention
  6. ​The latest well intervention equipment

For registration, speaking or sponsorship enquiries contact Abigail Clifton on aclifton@offsnet.com; +44 (0) 203 793 8800.

More info

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OTC Brasil

The conference is organized by the Offshore Technology Conference (OTC) and Brazilian Petroleum…

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Europort 2019

Europort, organised in the world port city of Rotterdam, will be the leading exhibition for special purpose vessels…

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