The new company called Shearwater GeoServices will start out with a fleet of four modern, high capacity seismic vessels, the pair said, taking over the Polar Empress, Polar Duke, Polar Duchess, and Polar Marquis.
The Shearwater partners will also inject $60 million in equity in the form of cash, they said.
"Over a period of time, we have examined opportunities to establish a new geophysical company.
