Shearwater GeoServices starts off 2020 with sevenfold increase in vessel backlog
(WorldNews Norway)

9th January 2020 Shearwater GeoServices Holding AS (Shearwater) is pleased to announce a more than sevenfold increase in 2020 backlog to 65 vessel-months at the start of 2020, up from 9 vessel-months at the same time a year ago. This backlog includes 24 months of the minimum commitment in the recently signed capacity agreement with CGG for two vessel-years annually over a five-year period. The backlog numbers exclude WesternGeco minimum commitment. The backlog expansion reflects growing demand for marine seismic, particularly 4D, and successful execution of the company`s market consolidation strategy. As part of this strategy, Shearwater completed the strategic agreement with CGG where the...