Houston-based marine seismic node firm FairfieldNodal has finalized its acquisition of UK-based marine geophysical services firm WGP Group from Thalassa Holdings. The acquisition will have an effective date of 31 December 2017.
FairfieldNodal announced its intent to takeover WGP in August 2017.
FairfieldNodal says its plan is to "transform itself into a world-class provider of integrated life of field seismic services, data and data analytics over the next three to five years through a combination of strategic partnerships and acquisitions."
When FairfieldNodal's interest in buying WGP was announced in August last year, WGP owner Thalassa said FairfieldNodal was also interested in investing in Thalassa's Autonomous Robotics Ltd. (ARL) technology, a node system which flies itself to the seafloor for seabed seismic surveys.
FairfieldNodal says WGP, founded in 1994, will complement FairfieldNodal’s existing technology and services, specifically its ZLoF semi-permanent reservoir monitoring technology.