SAExploration Announces Agreement to Acquire inApril AS

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Sep 11, 2024, 17:16 ET

HOUSTON, Sept. 11, 2024 /PRNewswire/ -- SAExploration Holdings, Inc. ("SAE") and inApril AS ("inApril") announced today that they have entered into a Combination Agreement and intend to enter into a Definitive Merger Agreement by the end of the year.

"SAE is excited to provide support for inApril's innovation and industry-leading development of safe, cost-effective, and automated seabed seismic technology," said SAE CEO Forrest Burkholder. "We use inApril technology because it creates extraordinary opportunities for our clients."

"Seismic technology, specifically ocean bottom node technology, is going through a generational change. The uplift in seismic data quality has an important and growing role in the geosciences – not just in carbon capture and storage or the development of hydrocarbons, but throughout the energy transition market globally. Seismic has never been safer, more efficient, or more sustainable," said Bob Basili, CEO of inApril. "Joining with SAE will take inApril's technology to the next level and will open doors for automation and reliability that will change the economics of seabed seismic exploration."

The acquisition is subject to regulatory and shareholder approval, and is expected to close in Q4 2024.

About SAE

SAE is an international oilfield services company offering a full range of vertically-integrated seismic data acquisition and support services in every part of the world. 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, SAE also provides logistical support services, such as program design, planning and permitting, camp services and infrastructure, surveying, drilling, environmental assessment and reclamation, and community relations. SAE operates crews around the world, performing major projects for its blue-chip customer base, including major IOCs, NOCs, and large independent oil and gas exploration companies. With its global headquarters in Houston, Texas, SAE supports its operations through a multi-national presence throughout the world. www.saexploration.com.

About inApril

inApril is an innovative seabed seismic equipment supplier, delivering ocean bottom nodes (OBN) and fully automated OBN back deck handling systems. inApril's solutions offer a step change in the safe and efficient operation of seabed seismic surveys by providing cost-effective technology options needed for exploring and developing the world's hydrocarbon reserves. inApril is based in Norway, with offices in Bergen, Trondheim and Oslo. www.inapril.com.

Media Contacts

For SAE: [email protected] For inApril: [email protected]

SOURCE SAExploration