Spectrum is established in the UK as a seismic data processing company, privately held by two Norwegian investors.
Spectrum established its Houston office.
Spectrum expands into the Multi-Client segment, building up a geographically spread Multi-Client data library of reprocessed legacy data and expanding data coverage into North Africa, South America and the Asia Pacific region.
Spectrum gets acquired and then merged with the Norwegian listed seismic Multi-Client company Global Geo-Services ASA, becoming GGS-Spectrum ASA.
Spectrum is demerged from GGS-Spectrum ASA and becomes the Norwegian domiciled Spectrum ASA. Spectrum takes over the majority of prior GGS-Spectrum’s Multi-Client seismic library and the seismic vessel GGS Atlantic. The company is listed on Oslo Axess, Oslo Stock Exchange’s small cap list.
Spectrum acquires Australian Seismic Brokers domiciled in Perth, Australia. Rune Eng is appointed Chief Executive Officer.
Spectrum terminates the operation of GGS Atlantic and becomes a pure-play asset-light Multi-Client company with no long-term vessel charters or obligations. A new management team is implemented and Spectrum acquires CGGVeritas’ global marine Multi-Client library, adding more than 500,000 km MC2D data to the library.
Spectrum is listed on the main list of Oslo Stock Exchange and acquires its first Multi-Client 3D survey.
Spectrum acquires the Norwegian companies Carmot Seismic AS and Carmot Processing AS establishing a significant footprint for Spectrum on the Norwegian Continental Shelf.
Following the acquisition of the CGGV 2D library in 2011 and through 2014, Spectrum invested USD 280 million organically for seismic acquisition and data processing into its Multi-Client library. In 2014 the library held more than 1.3 million line km of 2D Multi-Client seismic and more than 14,000 newly acquired km2 3D Multi-Client (MC3D) seismic data.
In July 2015 the company acquired Fugro’s Multi-Client library for a price of USD 115.0 million on a cash- and debt-free basis. Following the transaction, Spectrum more than doubled its seismic library to exceed 3.3 million km of 2D multi-client seismic data covering all major sedimentary basins worldwide and 160,000 km2 of 3D data. This created the world’s largest 2D seismic library.
2016 – 2018
Spectrum continues to build on its industry-leading position in 2D Multi-Client seismic and substantially increases the extent of key 3D coverage, adding flagship datasets its the library.
New projects include surveys along the coast of Brazil and Argentina, in preparation for anticipated license rounds. In Africa, ground-breaking 2D seismic data in Somalia and shallow water 3D surveys in open blocks offshore Gabon are aimed at re-ignite exploration interest. Similarly, 2D data is added offshore Mozambique and Madagascar. Elsewhere, unique Multi-Client seismic programs provide the industry with world-leading imaging of the geology offshore Australia and the Barents Sea.
In August 2019 fellow Multi-Client seismic provider TGS acquired Spectrum in an all-share transaction to create the world’s leading Multi-Client geophysical data provider covering all major mature and frontier basins world-wide.
Wirth the extensive, combined library and financial robustness, the combined entity will be well positioned to accelerate 3D seismic investment plans in an improving market. Furthermore, the combined libraries will have a scale that will help accelerating TGS’ data analytics strategy