Norwegian seismic outfit SeaBird Exploration says it is in an exclusive process to acquire seismic vessels Boa Galatea and Boa Thalassa from Boa Offshore for a total of NOK185m ($21.7m).
SeaBird is paying via a mixture of cash and shares and is financing the acquisition, as well as the upgrade of Boa Galatea to high end 2D/source capability, via a NOK225m-NOK250m private placement.
Hans Petter Klohs, CEO of SeaBird, said: “As a consequence of increased demand in all our regions, we have had to turn down work in the first quarter of 2019 due to scheduling conflicts. To be able to pursue a strong and diversified pipeline of contract leads in all segments, we have been evaluating several attractive opportunities for vessel capacity expansion. The BOA Galatea and BOA Thalassa will be excellent additions to our operational fleet, being ideally suited for source and 2D operations in addition to EM seabed logging. We are excited to have developed this transaction which will provide us with two very suitable quality vessels at a very attractive price further strengthening our position and service offering in the 2D, source and niche 3D markets.”