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Seismic Surveyor Polarcus Sees Shares Nosedive As It

Oslo-listed seismic surveyor Polarcus has defaulted on its bank loans and bonds, it said on Tuesday, sending the companys shares plunging more than 30%. Polarcus and other seismic surveyors have been hit by weak demand as oil companies slash spending on geological data amid the coronavirus pandemic and last years crash in the price of crude. "The company intends to pursue all available options with a view to ensuring the financial sustainability of the company and in the meantime will halt al...
Petroleum Geo Arab Emirates Headquartered Polarcus Oslo Bourse Oslo Based Petroleum Geo Services பெட்ரோலியம் புவி ஒசிலோ பெர்சே

Seismic Surveyor Polarcus Defaults on Debt – gCaptain

Share this article OSLO, Jan 26 (Reuters) – Lenders took control of Polarcus’s ships on Tuesday after the seismic surveyor defaulted on its bank loans and bonds, hit by a drop in spending by energy companies struggling with the COVID-19 pandemic and volatile oil prices. The company’s Oslo-listed shares plunged as much as 47% after they resumed trading following an earlier suspension. Polarcus said lenders had taken over shares in subsidiaries that own seismic vessels and replaced direct...
Terje Solsvik Mark Potter Nerijus Adomaitis Petroleum Geo Arab Emirates Headquartered Oslo Bourse

Seismic surveyor Polarcus defaults on debt, shares plunge

Article content OSLO — Oslo-listed seismic surveyor Polarcus has defaulted on its bank loans and bonds, it said on Tuesday, sending the company’s shares plunging more than 30%. Polarcus and other seismic surveyors have been hit by weak demand as oil companies slash spending on geological data amid the coronavirus pandemic and last year’s crash in the price of crude. We apologize, but this video has failed to load. Try refreshing your browser, or Seismic surveyor Polarcus defaults on debt...
Arab Emirates Headquartered Polarcus Oslo Bourse ஒசிலோ பெர்சே

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