Spectrum ASA lists on Oslo Axess Stock Exchange
2008.07.03 -
Company News
Spectrum CEO David Rowlands, explained, "We are delighted that the market has recognised the value and particularly the potential of Spectrum which ensured today's successful listing. We are already experiencing strong organic growth for our products and services which has been driven by high energy prices. Consequently, I am confident that Spectrum will provide an excellent return for its new investors."
Spectrum has built an excellent reputation for "intelligent" seismic processing, where the company uses its considerable experience to ensure that clients obtain the very highest quality seismic data. Multi-client survey sales remain an important element within the company's overall services portfolio. Work is currently well underway on three surveys from the Far East, situated offshore Northern Australia, in the Exmouth plateau, Bonaparte and Browse basin areas.
Spectrum's ambitious new shareholders are eager to maximise potential from the robust seismic service market and seek both organic and corporate growth opportunities.
The new company has offices in UK, USA, Libya, Egypt, Pakistan, Argentina, Norway, Singapore, Trinidad and India and employs around 200 people. Each Spectrum geophysicist has an average of 15 years industry experience.
Petroleum Geo-Services ASA ('PGS' or the Company) announced today that it has entered into a definitive agreement to acquire Applied Geophysical Services, Inc. (AGS) for a price of USD 51 million, subject to certain adjustments for changes in working capital. PGS estimates an enterprise value for AGS of approximately USD 46 million. AGS is based in Houston, Texas and specializes in providing advanced depth imaging services. The transaction is expected to close during the course of this week.
Total announces the acquisition of a 40% interest in three exploration permits northeast of Ichthys on the Australian Browse Basin jointly with Inpex (60%, operator). These interests were held by ConocoPhillips. This acquisition is subject to the approval of the Australian authorities.
Rowan Companies, Inc. (NYSE:RDC) announced today that it has entered into contracts with Keppel AmFELS, Inc. for the construction of four Super 116E class jack-ups. The rigs will be built at AmFELS' Brownsville, Texas shipyard, with delivery scheduled at approximately four-month intervals beginning in the second quarter of 2010.
Gaz de France has acquired a 45% stake in the Alam El Shawish West licence in Egypt from Vegas Oil & Gas.
Trico Marine Services, Inc. (NASDAQ: TRMA) ("Trico") and Active Subsea ASA (NOTC: ASUB) ("Active Subsea") today announced that Trico intends to make a voluntary offer for all outstanding shares, options and warrants of Active Subsea.
