Spectrum ASA Pareto Offshore Conference 2011 Jan Schoolmeesters, COO August 31, 2011
Spectrum Brief History 1986 Founded as a data processing company 2005 Acquired by GGS, addition of Vessel operations & Multi-Client 2008 Demerger, Spectrum ASA listed on Oslo Stock Exchange 2010 Acquisition of Australian Seismic…
Spectrum: who we are Spectrum is a pure play Multi-Client Company We employ 165 people including 70 experienced Geophysicists Spectrum operates a Worldwide Multi-Client library 2.1 mill MC2D kms including scanned data and…
Spectrum Focus and Strategy Spectrum is to be a leading Multi-Client company within 5 years. Grow the company through organic project development combined with purchasing existing project library.
Building Multi-Client library The Critical Mass hurdle: A Multi-Client company needs to reach a critical mass of projects to build a sustainable business Critical mass is reached when projects return a stable revenue that offsets…
MC2D Project timeline 3 months 3 months /10 000 KM 6 months Permits & mobilize Acquisition average Data processing the Vessel 111 km /day Time migrated product 1 year Acquisition slots may be limited due to Weather &…
Organic growth of MC library
CGGVeritas Transaction Overview Spectrum purchase the CGGVeritas 2D Marine Multi-Client library Over 500,000 km of seismic All additional / value added products Not including select Joint Venture data such as Kazakhstan Spectrum…
CGGVeritas Transaction This transaction is in line with the growth strategy of Spectrum to become a leading Multi-Client company Spectrum has been building MC staff over the last year which will facilitate sales of the combined…
The New Combined Library Full global MC2D coverage in all major sedimentary basins worldwide Complementary data sets with little overlap Strong synergy effects in areas like Gulf of Mexico, South America, Mediterranean Sea and the…
Synergy example NW Europe
Balanced Geographic distribution Pre CGGV 590 kms Post CGGV 1,107 kms 95 810 73 480 230 718 18 418 116 144 217 108 87 593 Australia 248 758 231 669 Europe 105 422 GoM 88 312 Other Africa 184 866 Far East & Asia
Potential for Growth The new combined library Total km approx 1,100 km Historic investment is USD350m and historic sales is USD450m Current Sales/investment ratio = 1.3 for the combined library The Industry average is approximately…
CGGVeritas Transaction With the recent CGGV transaction Spectrum has invested in excess of USD47m in the Multi Client library for 2011 In Spectrum, the 2D Marine MC had a revenue of USD23m in 2010 In CGGV, the 2D Marine MC had a…
Conclusion and Summary The combined library catapults Spectrum to achieve critical mass The CGGVeritas transaction is a strong foundation for further growth Spectrum is a pure play Multi Client company
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