Seismic survey ships at $20m each?

Oil and natural gas exploration -- geology and geophysics
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GuyM
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Seismic survey ships at $20m each?

Post by GuyM »

"Shearwater has acquired streamers and related seismic equipment for a total cash consideration of $50 million. The company further purchased six seismic acquisition vessels for $127.5 million, Shearwater informed."

Polarcus made use of the Ultsein X-bow design for their ships, which uses less fuel and rides rough weather better. For the EAGE conference in Copenhagen (probably a decade ago now!) they built a Lego mini-fig scale version which was pretty cool.

Glad they are not going for scrap - although stopping another company buying them was possibly part of the motivation here.

https://www.offshore-energy.biz/shearwa ... nhgNHKnhCo

Michael_Seman
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Re: Seismic survey ships at $20m each?

Post by Michael_Seman »

You mean somebody like China's BGP snapping them up, in hope of dominating the market if and when it recovers?

GuyM
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Re: Seismic survey ships at $20m each?

Post by GuyM »

Well, I was thinking more about how Shearwater came into existance when Dolphin went under, but sure
Article suggests they will retire some of their older fleet. Diamond and Emerald are both early 1990s vintage, and the Eagle is late 1990s.

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