Shearwater GeoServices has joined, as a partner, the Centre for Geophysical Forecasting (CGF), a research centre hosted by the Norwegian University of Science and Technology (NTNU).
Magseis Fairfield reports results for the first quarter 2021
04 May 2021
Magseis Fairfield continued to build backlog during a transition quarter. Magseis Fairfield reported revenue of USD 42.9 million, a gross profit of USD 7.9 million, and an EBITDA of USD 0.6 million in the first quarter. As communicated on the fourth quarter presentation, the first quarter was impacted by low capacity utilization and low-margin projects secured during a weaker oil market in 2020, and the margin decline was further accentuated by operational and technical challenges on one of the data acquisition contracts in the quarter. The company expects gross profit and EBITDA to recover through 2021 on the back of higher backlog at improved margins and tender activity.
Norway: Magseis Fairfield approved as partner in Centre for Geophysical Forecasting
20 Apr 2021
Magseis Fairfield has applied and been approved as partners in the
Centre for Geophysical Forecasting (CGF), one of The Research Council of Norway’s funded centres that is hosted by Norwegian University of Science and Technology (NTNU). We recognize that geophysical experience from the oil and gas industry will play a key role in facilitating the energy transition, and see this as a great opportunity to collaborate with our customers and other partners to further develop solutions within the renewables space ,
says CEO, Carel Hooijkaas.