Norsk Hydro invests in Spectraseis
07 November 2005
Spectraseis announced today that Norsk Hydro Technology Ventures has completed a significant investment and acquired an ownership interest in the company.
NTV is a unit of Norsk Hydro ASA, a leading international oil and energy group listed on the Oslo, London and New York stock exchanges (NYSE ticker: NHY) and one of the largest oil and gas operators in the North Sea.
We are excited to welcome Hydro as a major shareholder, said Spectraseis CEO Ross Newman. Hydro has an outstanding reputation for innovation and value creation in its upstream operations through astute use of advanced technologies. Hydros involvement will enhance Spectraseis position as a leading-edge provider of new geophysical data to reduce finding costs and accelerate production.
The investment by Hydro successfully completes the companys funding program launched in July 2005.
We are excited to welcome Hydro as a major shareholder, said Spectraseis CEO Ross Newman. Hydro has an outstanding reputation for innovation and value creation in its upstream operations through astute use of advanced technologies. Hydros involvement will enhance Spectraseis position as a leading-edge provider of new geophysical data to reduce finding costs and accelerate production.
The investment by Hydro successfully completes the companys funding program launched in July 2005.