SAExploration Wins $45 Mln Seismic Deal

SAExploration has secured a contract for ocean-bottom marine seismic data acquisition services collectively valued at approximately $45 million.

The Company expects to execute the projects during the second and third quarters of 2015.

These projects will be performed using ocean-bottom nodal seismic recording technology equipped to successfully operate in water depths ranging from zero to 3,000 meters deep. SAE will utilize its currently available equipment and personnel to execute the projects.

Brian Beatty, President and CEO of SAE, commented: “We are very pleased with our ability to secure these projects. These awards reinforce our expectation for continued development of ocean-bottom seismic markets globally and further solidify our strong position within this emerging space. We believe our expertise and experience in performing ocean-bottom seismic services combined with our focus on niche complex onshore markets will offer us unique pockets of opportunity as we progress through a challenging market environment.”