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RXT announces major contract award in the GOM
4 January 2006
The seismic company Reservoir Exploration Technology AS (RXT) announced today that its Gulf of Mexico crew has been awarded a contract for acquisition of multi-component seismic data for TGS in the Gulf of Mexico, with a planned start in late January. The survey duration is estimated to be around 230 days, with possible extensions.
- This award means that our Gulf of Mexico (GOM) crew has secured work until at least the end of August 2006, at contract rates favourable to the company’s annualised projections. This minimises the risk in our 2006 activity forecast. The crew will then have been in continuous operation in the GOM since operation commenced in 3rd quarter 2004, says CEO Michael Scott. This work is consistent with our business plans to broaden our client base and to maintain a permanent presence in the Gulf of Mexico. It is particularly gratifying to be working with a leading geophysical company such as TGS.