SAExploration Holdings, Inc. (NASDAQ:SAEX) soared Thursday on word of a new project.
On Thursday, the Houston-based SAE announced a new shallow-water ocean-bottom marine project award in the Asia Pacific region for a major national oil company valued at approximately $28 million.
Services to be provided will include data acquisition utilizing ROV-deployed autonomous nodal recording technology in water depths up to 60 meters. The project is expected to last approximately 55 days and will occur primarily before the end of the calendar year.
SAE is an international oilfield services company offering a full range of vertically-integrated seismic data acquisition, data processing and interpretation, and logistical support services throughout North America, South America, Asia Pacific, Africa and the Middle East.
"In addition to the acquisition of 2D, 3D, time-lapse 4D and multi-component seismic data on land, in transition zones and offshore in depths reaching 3,000 meters," read Thursday’s news release, "SAE offers a full suite of data processing and interpretation services utilizing its proprietary, patent-protected software, and also provides in-house logistical support services, such as program design, planning and permitting, camp services and infrastructure, surveying, drilling, environmental assessment and reclamation, and community relations."
What’s more, "SAE operates crews around the world, performing major projects for its blue-chip customer base, which includes major integrated oil companies, national oil companies and large independent oil and gas exploration companies."
Shares rocketed 31 cents, or 17.1%, to $2.12
