Dubai-based seismic operator Polarcus has purchased a complete marine seismic in-sea acquisition system from bankrupt Dolphin Geophysical.
Polarcus purchased the package, comprising twelve 8100m active streamers and all peripheral equipment, for a price of $11.5m. The purchase is partly financed via a $8m loan.
The acquisition provides Polarcus its planned seismic capital expenditure requirements for the next three years, and is part of the company’s existing capex budget for 2016.
Dolphin Geophysical filed for bankruptcy in December 2015.
