Spectrum transaction adds to range on the palette

摘要

TGS chief executive Kristian Johansen is currently excited about his company's $400 million takeover of rival marine seismic multi-client specialist Spectrum, owner of the world's largest 2D seismic data library, writes Andrew McBarnet. "It is actually a consolidation. We now have Schlumberger, CGG and ourselves as the main multi-client players, along with PGS (Petroleum Geo-Services), the only one which continues to operate a seismic fleet." In his view, the Spectrum transaction, which was finalised in August, makes a lot of sense. "The two companies are very similar, although we are much bigger, with a current capitalisation of close to $3 billion.