Seismic player SeaBird Exploration said that its source contract announced on 20 April 2020 has been terminated by the charterer.
Namely, the Oslo-listed SeaBird secured a letter of award in April for a project in South America .
The contract should have taken place in the third quarter of this year, with a duration of 30-45 days
At that time, SeaBird did not disclose the value of the contract nor the name of the client.
In addition to this news, the company announced a letter of award for an OBN source contract in the Gulf of Mexico last week.
The contract will start in Q4 2020 with an expected duration of about three months.
Renewables
SeaBird also today said it has decided to pursue a feasibility study into a niche in the renewable energy segment.
The company has not communicated any further details about this initiative.