Green Energy Group awarded new OBN contract

Green Energy Group, formerly Seabird Exploration, has signed an ocean bottom node (OBN) source contract with an undisclosed client in the Western hemisphere. 

The contract, with an undisclosed value, is expected to commence in the second half of August and last for around 14 months, including mobilisation and demobilisation activities. 

Green Energy Group generated around $5m in revenue from its seismic business in the first quarter of 2022, up from $3.7m same time last year.

The Oslo-listed company inked a letter of intent in April regarding a potential sale of its seismic operation, granting exclusivity to a party for a period to conduct due diligence. The potential purchase price will be calculated on the basis of an enterprise value of $53m on a cash and debt-free basis and with an agreed level of working capital.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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