SAExploration Announces $130 Million of New Projects in Alaska, Canada and Middle East
SAEXPLORATION HOLDINGS (SAEX)
US:NASDAQ Investor Relations:
investors.saexploration.com
Company Research
Source: GlobeNewswire
HOUSTON, Nov. 18, 2019 (GLOBE NEWSWIRE) -- SAExploration Holdings, Inc. (NASDAQ: SAEX, OTCQB: SXPLW), or SAE, today announced a combined $130 million of new projects in Alaska, Canada and the Middle East. The largest contract is valued at approximately $112 million for onshore data acquisition services to be performed on the North Slope of Alaska. The data acquisition services will be conducted over the next three winter seasons, beginning in Q1 2020. In association with this multi-year project award, SAE has entered into a separate agreement with Geospace Technologies Corporation to purchase 30,000 new state-of-the-art GCL recording channels. The new Geospace channels will primarily be utilized during the aforementioned multi-year contract in Alaska, but are also intended to be utilized in other regions, when available, during the off season. The balance of the new project awards consists of various contracts in Canada, slated to be performed primarily during the upcoming Q1 2020
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