Dolphin Geo’s UK unit continues ‘business as usual’ despite bankruptcy in Norway

Dolphin's UK unit continues 'business as usual' despitePressured by low oil prices, cuts in exploration, low dayrates, and limited prospects for new contracts, Norwegian Dolphin Group, together with its seismic acquisition subsidiary Dolphin Geophysical AS, on Monday filed for bankruptcy.

However, on Wednesday, the company said its UK unit continues business as usual: “The UK processing and multi-client operations of Dolphin Geophysical Ltd continue to operate as normal, despite the Norwegian entities of Dolphin Group ASA together with its subsidiary Dolphin Geophysical AS having filed for bankruptcy on Monday 14 December.”

Dolphin said that the UK entity Dolphin Geophysical Ltd is not a part of the bankruptcy estate. The Singapore and US businesses are also continuing to operate.

Backlog stretches into 2Q 2016

The ongoing processing contracts in the UK are continuing and the banks are supporting a ‘business as usual’ approach, paying staff salaries and maintaining operations. Multi-client sales are also continuing as normal, the company said in a statement.

Gareth Williams, Chief Geophysicist, said: “We will not only continue to fulfill our commitment under existing contracts but will also continue to bid on new projects as well. Our backlog currently stretches well into the second half of 2016 and we will continue to aggressively target suitable additional work.”

Share this article

Follow Offshore Energy Today

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

Offshore Energy Exhibition and Conference (OEEC)

The three-day event features an exhibition where over 600 companies will showcase their products and services…

read more >

Argentina Oil and Gas Expo 2019

The Argentine Oil and Gas Institute (IAPG) organizes the Argentina Oil & Gas Expo bringing together the most…

read more >

OEE Conference & Exhibition 2019

OEE2019 is organised by Ocean Energy Europe, the industry association representing ocean energy in Europe.

read more >

Africa Oil & Power 2019

The Africa Oil & Power conference will bring together an elite class of ministers and senior-level government…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply