EMGS secures prefunding for multi-client survey offshore East Canada
(WO) — Electromagnetic Geoservices ASA has secured $2 million in prefunding for a multi-client survey offshore Newfoundland and Labrador, the company said on July 25.
The acquisition is expected to take place in late third quarter 2022. The revenue is expected to be recognized in the fourth quarter 2022.
The contract is conditional upon securing the required permits in Canada prior to September 2022.
