Exploration specialists Seabird reduced their half-year losses compared to 2012, after benefiting from a growth in North and South American exploration.
More than 51% of the company’s revenues in the last three months came from the region, with Seabird carrying out its first survey in the Caribbean, compared to a reduced revenues from Asia, Europe and the Middle East.
“Global industry demand in the quarter continued to be strong albeit vessel repositioning in certain geographies caused time delays,” the company noted.
“Most significantly, we had two vessels in the Asia Pacific region during the second quarter which required more time than estimated to re-engage following the completion of their surveys. However, both vessels are currently active and we are seeing solid demand in the Asia Pacific region.
“Day rates for both 2D and niche 3D seismic contract surveys remained solid in the second quarter. During the period we experienced stable to improving pricing trends in all geographies.
“We are not seeing any signs indicating a changing pricing environment and we expect day rates to remain firm for the foreseeable future.”
The company posted a £2million first half loss, compared to losses of $12.2million the previous year. Sales increased to $65million from the $54.8million in 2012.
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