SeaBird nets TGS contract for 2D shoots in Mexico and US Atlantic

Submitted by Paddy Harris on Thu, 2014-11-20 09:27

20th November 2014

SeaBird Exploration has received a letter of award (LOA) from TGS-NOPEC Geophysical Company (TGS) to acquire up to 300,000 kilometres of 2D seismic data in Mexico and US Atlantic

SeaBird nets TGS contract for 2D shoots in Mexico and US Atlantic

The survey will cover a minimum of 150,000 kilometres and up to 300,000 kilometres in one or more of the areas

The LOA provides TGS access to charter up to six seismic vessels from SeaBird over a period of approximately 36 months, and is estimated to commence 1H 2015, subject to issuance of permits to TGS.

This announcement is further to a letter of intent issued 1 April 2014 for Mexico.

The survey will cover a minimum of 150,000 kilometres and up to 300,000 kilometres in one or more of the areas, Mexico and US Atlantic waters, and will have an estimated value between USD 88m (minimum programme) and USD 176m (full 300,000 kilometres).