Formation of Shearwater GeoServices completedCompany News // January 18, 2017
Shearwater GeoServices, the company formed by GC Rieber Shipping and Rasmussengruppen, has begun trading.
The jointly owned marine geophysical company was first announced in October 2016 and final conditions for completion have now been fulfilled and the transaction successfully completed.
Shearwater GeoServices will be an integrated provider of marine geophysical services to oil and gas and multi-client companies worldwide. Shearwater's core strategy is to provide high quality marine geophysical services and utilize the company's position as the most cost-efficient company in the industry.
"We provide a global service with a fleet of four modern, high capacity seismic vessels as well as advanced processing services in offices in the UK, US and India," said the company. "In addition, Open Geophysical Inc is a wholly owned subsidiary of Shearwater GeoServices and provides OpenCPS seismic processing software to the oil and gas industry.
"Since the announcement of establishing Shearwater, we have already secured new contracts in our different business lines of marine acquisition, processing and imaging and software. Two of our four vessels were already in operation at the time of closing."