Shearwater today provided an update on backlog development reflecting rising demand for towed streamer and seabed seismic. Following the great quarterly order intake to date, in the third quarter of 2022, the company’s total revenue backlog stands at a record USD $870 million.

Irene Waage Basili, CEO of Shearwater

“With this latest award in Australia, Shearwater have successfully secured 52 months of new contracts across both streamer and seabed markets so far in the third quarter alone” said Irene Waage Basili, CEO of Shearwater. “This is an all-time-high of new business for us in such a short time span, reflecting a combination of improving market fundamentals as oil and gas companies increase investments and our disciplined approach to having visibility on duration and pricing when bringing additional capacity into the market.”

KeyFacts Energy Industry Directory: Shearwater