Magseis Fairfield secures LOA for four-month OBN contract in Gulf of Mexico from April 2021

September 2, 2020

(Oslo/Houston, September 2nd 2020) Magseis Fairfield has received a conditional Letter of Award (LOA) from an undisclosed multiclient company for a four-month Ocean Bottom Node (OBN) survey in the Gulf of Mexico. The survey is anticipated to start in the beginning of April 2021, and further extends the backlog for Magseis Fairfield’s ZXPLR crew on the REM Saltire.

“Our ZXPLR crew in the Gulf of Mexico has been working continuously since first deploying the ZXPLR node technology in Q4 2017 and we are glad to see a repeat customer now adding further to our backlog for 2021,” says CEO Carel Hooijkaas in Magseis Fairfield.

The LOA is subject to certain conditions, including that the client obtains the required survey permits, management approvals and sufficient pre-funding.

For further information, please contact:
Carel Hooijkaas, CEO
Tel: +47 480 49 277
Email: carel.hooijkaas@magseisfairfield.com

Mark Ivin, CFO
Tel: +47 948 88 606
Email: mark.ivin@magseisfairfield.com

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Magseis Fairfield is the global leading provider of ocean bottom seismic (OBS) technology and data acquisition projects. The company has a flexible business model with full scale node operations, as well as lease and sale models. The Marine Autonomous Seismic System "MASS" nodes and the range of Z-nodes combined with handling systems and source technology enables market leading deployment speed and highly cost-efficient acquisition of data with exceptional quality.

The Company is headquartered in Oslo, Norway and has offices in US, Sweden, UK, Brazil and Singapore. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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