Marine seismic pricing is continuing to strengthen and the Ocean Bottom Node market is the place to be, the Norwegian seismic company SeaBird Exploration said Thursday.
Seabird on Thursday reported third-quarter results with a 196% increase in revenues year-over-year. Revenues were $16 million, up from $5.4 million a year ago. SeaBird’s 3Q loss, however, deepened to $5 million in 3Q 2019, compared to a loss of $4,6 million in 2Q 2018.
The company had a 68 percent fleet utilization during the quarter with five vessels in operation during the quarter. This compares with three vessels on projects and 55% utilization in 2Q