SAExploration to Acquire inApril AS in September 2024

On September 11, 2024, SAExploration Holdings, Inc. announced its agreement to acquire inApril AS, a seabed seismic equipment supplier based in Norway. The two companies plan to finalize a Definitive Merger Agreement by the end of the year, pending regulatory and shareholder approvals. This acquisition aims to enhance inApril's innovative technology in seabed seismic surveys, which is crucial for the evolving energy sector, particularly in carbon capture and hydrocarbon development. SAE's CEO, Forrest Burkholder, expressed enthusiasm for supporting inApril's advancements in automated seismic technology, which promises to improve safety, efficiency, and sustainability in seismic data acquisition. Bob Basili, CEO of inApril, highlighted the generational shift in seismic technology, emphasizing the importance of high-quality seismic data in various geoscience applications, including energy transition markets. The merger is expected to elevate inApril's capabilities, allowing for greater automation and reliability in seabed seismic exploration. This strategic move aligns with SAE's mission to provide comprehensive oilfield services globally, enhancing their service offerings to major international oil companies and independent exploration firms. As the energy industry continues to evolve, this acquisition positions both companies to leverage cutting-edge technology and meet the growing demand for efficient and sustainable energy solutions. The anticipated closing of the acquisition in Q4 2024 marks a significant step forward in the integration of innovative seismic technologies into the global energy landscape.