Norway's PGS sees high summer N.Atlantic oil exploration interest
and production interest among oil companies, it said in its annual report on Thursday. Seismic surveyors, which seek oil and gas deposits under the sea floor, have been hit hard as oil companies have reduced spending to focus on costs and improve cash flow. Recent market updates from competitors Dolphin Group however, suggest activity is picking up again from low levels in the fourth quarter. "The North Atlantic region will once again be busy, driven by high exploration and production interest. We expect very healthy market conditions for the upcoming summer season," Chief Executive
Dolphin Reports Improved Operating Margins
Seismic vessel operator Dolphin Group AS reported its financial results for the third quarter 2013. Quarterly highlights - Q3 2013 Revenues of $70.1 million, compared to $61.2 million in Q3 2012 EBITDA of $26.4 million (38%), compared to $28.9 million in Q3 2012 EBIT of $17.4 million (25%), compared to $16.8 million in Q3 2012 Net Income before tax of $15.4 million, compared to $16.4 million in Q3 2012 EPS of $0.04, compared with $0.05 in Q3 2012 Strong contract seismic margins, but low prefunding on strategic important 3D Multi-Client surveys Successfully
Unconventional Wisdom
for a new seismic company in 2010, just when the sector was hitting a low point. Oil prices were around $70 a barrel, E&P spending was suffering as a result and seismic stock was, to put it mildly, unattractive. “That’s when I saw the potential,” he says, from the HQ of Dolphin Group AS in Bergen, Norway. “The market was depressed, but there was, I believed, gathering evidence of an upturn. Myself and my partners knew the seismic business inside out and decided to take advantage with a new kind of company, founded on a financially cautious business model.” Jacobsen
Dolphin Awarded North Sea 3D Seismic Contract
August for the duration of approximately five weeks. "We now have a full backlog for the Summer Season", says Håvard Åsli, Regional Marketing and Sales Manager for North Europe, "with all of our vessels working in the North Sea region and busy into Q4". Norway's Dolphin Group ASA is the parent company of Dolphin Geophysical AS, a global full-range, asset light supplier of marine geophysical services. Dolphin operates a fleet of new generation, high capacity seismic vessels and offers contract seismic surveys, Multi-Client projects and processing services on a worldwide
North Sea Seismic Survey Contracts for Dolphin
Dolphin Group ASA, headquartered in Norway, awarded multiple North Sea 3D seismic contracts for 2013. Dolphin has been awarded several contracts for the upcoming North Sea season. The awards are for both 3D and 4D seismic services and will involve three of its 3D seismic vessels with a total duration in the range of 8-12 months. Dolphin sat they will revert with further contract details when they present their 2013 guidance on or about 8 January 2013. "These early awards with major clients improve our earnings visibility and supports our view that we can expect a busy summer in
February 2024
