PLCS Polarcus Limited

Polarcus awarded 3D Project in Asia Pacific

Polarcus awarded 3D Project in Asia Pacific

Polarcus Limited (“Polarcus” or the “Company”) (OSE: PLCS) announces that a letter of award has been received for providing 3D seismic data acquisition services in Asia Pacific. The project has an expected duration of 2.5 months and is scheduled to commence in Q1 2021, subject to relevant approvals.

 

Contacts

Hans-Peter Burlid, CFO

5

Lars Oestergaard, COO

4

 

About Polarcus



Polarcus (OSE: PLCS) is a focused geophysical service provider of safe and environmentally responsible marine acquisition services globally. Our geophysical offering is driven by innovation and collaboration to provide clients with better seismic data faster. Polarcus operates a fleet of high performance seismic vessels with 3D and 4D imaging capabilities, which incorporate leading-edge technologies for improved environmental performance and operational efficiency. Polarcus offers contract seismic surveys and multi-client projects with advanced priority processing solutions including Cirrus, a suite of cloud-based applications and services designed to bring clients closer to acquired seismic data, enabling faster and better informed exploration decisions. The Company services its clients globally from its head office in Dubai and regional offices located in Houston, London, Singapore and delivers Group asset management services from Oslo. For more information, visit

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.



EN
30/12/2020

Underlying

PLCSPolarcus Limited

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Polarcus Limited

Jon Masdal
  • Jon Masdal
Free Trial
PGS PGS ASA
PLCS Polarcus Limite... ... (+5)

US GoM round back on calendar

Following the legal battle and indications last week that a US GoM licensing round was moving forward, the US Department of the Interior announced yesterday that it intends to hold licensing round 257 this autumn, with all regular US GoM acreage included. We believe that uncertainty on future rounds has hampered multi-client sales in the US for the seismic companies, and see this development as a positive. Out of our coverage, TGS has the highest US exposure, although the main contributor to the...

PGS PGS ASA
PLCS POLARCUS LIMITED
TGS TGS-NOPEC GEOPHYSICAL COMPANY ASA
CGG CGG
MSEIS MAGSEIS FAIRFIELD
09/01/21 September 1, 2021 5 EN
Jon Masdal
  • Jon Masdal
Free Trial
PLCS Polarcus Limite...

Polarcus (No_rec, TP: NOK) - Discontinuing coverage

We have discontinued coverage of Polarcus. Our last published recommendation, target price and estimates should no longer be relied upon.

PLCS POLARCUS LIMITED
06/25/21 June 25, 2021 3 EN
Martin Huseby Karlsen
  • Martin Huseby Karlsen
Free Trial
PACDQ Pacific Drillin...
1Q6 PROSAFE S.E. ... (+26)

More detail on licensing round

Ahead of the white paper on Friday, the government provided more details on offshore wind development in Norway. The bottom-fixed areas will be developed without state-aid, and awards will follow an auction in early 2022. Floating areas will be awarded on qualitative criteria and receive government support (level not yet decided). Both areas will be split into 2–3 licences, which will allow multiple consortiums to be awarded. While we believe the planned sizes (in GW) allow for critical mass, th...

PACDQ PACIFIC DRILLING S.A.
1Q6 PROSAFE S.E.
PGS PGS ASA
DOF DOF ASA
SOC SUBSEA 7 S.A.
SDRL SEADRILL LTD
BWO BW OFFSHORE
PLCS POLARCUS LIMITED
ARCHERO ARCHER
AKER AKER ASA CLASS A
TGS TGS-NOPEC GEOPHYSICAL COMPANY ASA
E65F VALARIS PLC CLASS A
KVAER KVAERNER ASA
ODL ODFJELL DRILLING
AKSOO AKER SOLUTIONS ASA
DO DIAMOND OFFSHORE DRILLING INC.
RIGN TRANSOCEAN LTD.
TEC TECHNIPFMC PLC
SHLF SHELF DRILLING
CGG CGG
NODL NORTHERN DRILLING
A2JAU0 BORR DRILLING
AWDR AWILCO DRILLING
DRLCO MAERSK DRILLING
NE NOBLE
MSEIS MAGSEIS FAIRFIELD
06/10/21 June 10, 2021 3 EN
Martin Huseby Karlsen
  • Martin Huseby Karlsen
Free Trial
PACDQ Pacific Drillin...
1Q6 PROSAFE S.E. ... (+26)

Crowded and high-profile in Norway

The initial licensing rounds for offshore wind acreage in Norway are lining up to be competitive, with several high-profile local companies/consortiums already having announced their intention to participate. In addition, we would expect traditional renewables producers and international E&P companies to take part. Currently there is limited clarity on how the licensing process will work, but more details are expected in a government white paper (‘Stortingsmelding’) on 11 June. Although the winn...

PACDQ PACIFIC DRILLING S.A.
1Q6 PROSAFE S.E.
PGS PGS ASA
DOF DOF ASA
SOC SUBSEA 7 S.A.
SDRL SEADRILL LTD
BWO BW OFFSHORE
PLCS POLARCUS LIMITED
ARCHERO ARCHER
AKER AKER ASA CLASS A
TGS TGS-NOPEC GEOPHYSICAL COMPANY ASA
E65F VALARIS PLC CLASS A
KVAER KVAERNER ASA
ODL ODFJELL DRILLING
AKSOO AKER SOLUTIONS ASA
DO DIAMOND OFFSHORE DRILLING INC.
RIGN TRANSOCEAN LTD.
TEC TECHNIPFMC PLC
SHLF SHELF DRILLING
CGG CGG
NODL NORTHERN DRILLING
A2JAU0 BORR DRILLING
AWDR AWILCO DRILLING
DRLCO MAERSK DRILLING
NE NOBLE
MSEIS MAGSEIS FAIRFIELD
06/08/21 June 8, 2021 3 EN
Jon Masdal
  • Jon Masdal
Free Trial
PGS PGS ASA
PLCS Polarcus Limite... ... (+5)

And then there were two

We believe Shearwater’s acquiring the former Polarcus vessels was the best outcome for the industry. We expect a disciplined approach to future capacity additions; however, with a low-cost offering and more optimal fleet size, we believe Shearwater will gain market share from PGS.

PGS PGS ASA
PLCS POLARCUS LIMITED
TGS TGS-NOPEC GEOPHYSICAL COMPANY ASA
CGG CGG
MSEIS MAGSEIS FAIRFIELD
04/30/21 April 30, 2021 6 EN

ResearchPool Subscriptions

Get the most out of your insights

Get in touch