Siesmic Activity?

[Guest Angry Egg Driver]

Well this will come as a major stir up in the seismic world.Conquest,a privately owned company has been bought out by Norex.

The deal went down last week and will make Norex one of the biggest seismic companies in N America now with 11 crews.Milt and Terry are going to stay with Norex and I believe that it is going to be run entirely as Conquest.

[w squared]

Hmmm...not much of a surprise to me (given that I used to shoot for Conquest). Norex made a friendly takeover bid in early 2003, but it fell through when their package was unable to satisfy Milt and Terry as to their maintenance of control over their company. (no word on what their silent partner had to say about it, but he has a history of trusting Milt)

 

The merger is good for both companies. Norex gets access to Conquest's customer base and contacts. Conquest gets access to Norex's equipment - rental equipment has always been a HUGE expense for Conquest. For a number of years running, they have been the single largest customer for a number of the geophysical supply companies (Mitcham, OYO Geospace, etc.) in Calgary. Maybe this will solve some of Conquest's logistical headaches. There's nothing worse than trying to keep production going when you've got "spread + 5%" worth of equipment.

 

Pickup is waiting on shooters who are waiting on troubleshooters who are waiting on layout who are waiting on the pilot who is waiting on pickup...and the co-ordinator is tearing his hair out. The good old days.