Africa Polarcus Limited

Polarcus Awarded 4D Project in West Africa

Polarcus Limited said it has entered into a contract for a 4D marine seismic acquisition project in West Africa. The project is due to commence in Q2 2018 and will run for approximately one month.

Polarcus Awarded 4D Project Offshore West Africa

Polarcus Limited has announced that the company has received a letter of award for a 4D marine seismic acquisition project offshore West Africa. The project is due to commence in Q2 2017 and will run for approximately one month.

Polarcus Awarded Broadband 3D Project in West Africa

Polarcus Limited has received a letter of intent from an undisclosed client to execute a 3D marine seismic project in West Africa utilizing Polarcus' RightBAND technique for broadband data acquisition, the company announced in a press release today. The project’s duration is two weeks and will form part of Polarcus’ West African campaign during the fourth quarter of 2015.

Polarcus Awarded Project Off West Africa

Polarcus Limited informs it has received a Letter of Intent (LOI) from an undisclosed client for a 3D marine seismic project offshore West Africa utilizing Polarcus' RightBAND technique for broadband data acquisition. The project, subject to the execution of a service contract, will commence in Q3 2015 and is expected to run for approximately 60 days.

Polarcus Divests from Select Projects in Europe, Africa

Polarcus Limited announced it has signed a Letter of Intent (LOI) with TGS-NOPEC Geophysical Company ASA (TGS) for the sale of its multi-client projects in Northwest Europe and West Africa (MC Projects) in return for a cash consideration of $27.5 million and future revenue share on library late sales. The agreement includes an upfront cash payment, a tiered revenue share from future sales of the divested MC Projects and further contains cash payments for costs deferred under existing contractual agreements. The transaction will result in a non-cash impairment of the multi-client library of approximat

Polarcus Awarded 3D Project Off West Africa

Polarcus Limited has signed a letter of intent with Perenco Oil & Gas Gabon S.A. for a 3D marine seismic acquisition project offshore West Africa. The project, to be acquired by Polarcus Nadia and subject to the execution of a service contract, will commence in the first quarter of 2015 and is expected to run for approximately 21 days.

Polarcus Wins 3D Seismic Acquisition Project off West Africa

Polarcus Limited said it has signed a Letter of Intent (LOI) with an undisclosed client for a 3D marine seismic acquisition project offshore West Africa. The project, subject to the execution of a service contract, will commence in Q4 2014 and is expected to run for approximately two months.