Magseis Fairfield has won an ocean bottom node survey in the North Sea for a multi-client company.
Magseis Fairfield has won an ocean bottom node survey in the North Sea for a multi-client company. The duration of the survey is approx. two months and will start in Q3 2021 using the Z700 technology.
The company has a right of first offer to provide OBN acquisition services to the multi-client company with respect to future surveys undertaken by them in 2022 that adjoin this 2021 survey.
Meanwhile, Magseis Fairfield has negotiated with DNB an increase of its revolving credit facility (RCF) from $30 million to $45 million for six months. The company intends to utilize the extra credit for working capital purposes related to secured contracts. ‘Magseis Fairfield has been able to secure more customer project work than was apparent late last year,’ said Mark Ivin, CFO of Magseis Fairfield.
