On Wednesday (3 Oct), Integra announced the details of the spinoff of its seismic unit
, IGSS, in which the company holds 36%.
The funds from the share issue will be used for the creation of a marine seismic unit
In the Maasi-Tagavere seismic unit the first reflector appears some 40 km west of Saaremaa (Fig.
with the regional (litho)stratigraphic boundaries, enabled us (1) to subdivide the submarine sequence into different seismic units and correlate them with the (litho)stratigraphic sections onshore; and (2) to follow the distribution and thickness changes of these units, as well as to map them at the seafloor between Sweden and Estonia.
Schlumberger Limited [NYSE:SLB] announced today the signing of a Memorandum of Understanding with Baker Hughes Incorporated under which the Schlumberger surface seismic business, Geco-Prakla, would join with the Western Geophysical seismic unit
of Baker Hughes to form a new venture to be called Western GECO.
Before the deal Integra held 75% of seismic unit IGSS and consolidated the asset in its financials.
IGSS is Integra's seismic unit created in its current form in June 2010 when Integra and WesternGeco (Schlumberger's seismic unit) set up a JV with 75% and 25% shares, respectively.
We believe the spinoff of the seismic unit
may become a major trigger for Integra's shares, which have significantly underperformed the market this year (-42% YtD vs MSCI Russia's -15% and -10% for AMEX Oil Services Holders Index).
Integra Plans to Merge its Seismic Unit
with Geotech Holding
2nd part of the public contract: Supply of recording seismic units for CRSN,
Part 4 of the public contract: Supply of recording seismic units for Webnet and Reykjanet,
To define seismic units
(chronoestratigraphic unit referred as sequences), the first step was to define the unconformities and then recognize the unit according to the facies, the seismic expression and the attributes analyses.