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SeaBird Exploration announces sale of seismic data licence

Source: www.gulfoilandgas.com 3/11/2019, Location: South America

SeaBird Exploration has announced a license sale of seismic data over Rio Grande Rise in Brazil. SeaBird's share of the sale is approx. $0.8 million. The license sale relates to assets which previously have been written down to $0.2 million on the balance sheet. The company will therefore report a gain of $0.7 million in quarter one, related to this transaction.

SeaBird holds a number of assets with zero book value following impairment testing and write-downs in recent years. These assets comprise of both multi- client surveys as well as trade receivables. The company will continue working towards monetizing these assets going forward.

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Related Categories: Formation Evaluation  General  Geological, Geophysical  Geophysical Contractors  Mud Logging  Reservoir Engineering & Recovery Methods  Seismic survey  Well Completion, Logging, Workover 

Related Articles: Formation Evaluation  General  Geological, Geophysical  Geophysical Contractors  Mud Logging  Reservoir Engineering & Recovery Methods  Seismic survey  Well Completion, Logging, Workover 


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