Spectrum finalizes Fugro’s multi-client library purchase

Spectrum has finalized the purchase of Fugro’s multi-client library for a cash consideration of $115 m on a cash- and debt-free basis.

The agreement for the acquisition was announced on June 1, 2015. With this purchase, the new combined Spectrum library exceeds 3.0 million km of 2D Multi-Client seismic data covering all major sedimentary basins worldwide.

The acquisition also gives Spectrum an attractive position within 3D Multi-Client data in Australia, Norway and the Netherlands, the company has said.

The company also said that sales from the acquired library will be reported in Spectrum’s P&L from June 1, 2015. Sales from the acquired library for the period January 1 to May 31, 2015 will be reflected in the end Q2 balance, but not booked as part of Spectrum’s P&L.

CEO of Spectrum, Rune Eng, states: “The Fugro multi-client library combined with our existing library makes Spectrum the world biggest in 2D seismic offering and an important player in 3D seismic in certain highly prospective offshore basins. The acquisition of the Fugro library is of high strategic importance and forms the platform for further growth of the company”.

Share this article

Follow Offshore Energy Today

Events>

<< May 2019 >>
MTWTFSS
29 30 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 31 1 2

08th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

OWI WA 2019

West Africa’s only dedicated Offshore Well Intervention Conference is returning for its second year…

read more >

OIL & GAS PHILIPPINES 2019

Oil & Gas Philippines event display products like Oil & gas, fire protection systems and materials…

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

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