SeaBird Exploration Secures New Contract for OBN Source Work
Marine seismic specialist SeaBird Exploration has signed a new contract for ocean bottom node (OBN) source work in the Western Hemisphere.
The contract involves the utilization of the Fulmar Explorer, a survey vessel built in 2009. It has a firm duration of three months, with options to extend the total period to nine months.
The project is set to commence in mid-September, with commercial terms aligned with prevailing market conditions for SeaBird’s vessels over the past year.
Commenting on the contract, Kurt M. Waldeland, CEO of SED Energy Holdings, the parent company of SeaBird, stated, “This award reflects continued healthy demand for our assets. By securing additional backlog, we further enhance forward earnings visibility and support our long-term strategy for shareholder distributions.”