WesternGeco fully integrated into Shearwater GeoServices

Shearwater GeoServices has completed its acquisition of the WesternGeco marine seismic acquisition facilities and operations from Schlumberger.

Offshore staff

BERGEN, NorwayShearwater GeoServices has completed its acquisition of the WesternGeco marine seismic acquisition facilities and operations from Schlumberger.

This follows receipt of regulatory approvals and satisfaction of customary closing conditions.

“We are now an industry-leading full-range geophysical services company with a solid financial and strategic platform,” said Shearwater CEO Irene Waage Basili.

“We are eager to move ahead as one strong combined business with global reach, critical mass and long-term viability and look forward to providing our customers with high-quality acquisition services and technologies.”

The company now owns and operates a fleet of 14 fully-equipped seismic vessels offering acquisition services including 3D, 4D and ocean bottom seismic, in addition to processing and imaging services.

It also has a portfolio of proprietary technologies and in-house processing software to assist execution of geophysical surveys and delivery of data, with nearly 600 employees and operations across all the world’s major offshore basins.

Shearwater itself is owned 65% by Rasmussengruppen, 20% by GC Rieber Shipping, and 15% by Schlumberger.

“We have a strong balance sheet with the sector’s lowest debt per vessel and a leading cost position,” added Basili.

11/15/2018

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