Last 0.58 NOK
Change Today 0.00 / 0.00%
Volume 1.3M
PLCS On Other Exchanges
As of 10:25 AM 02/27/15 All times are local (Market data is delayed by at least 15 minutes).

polarcus ltd (PLCS) Snapshot

0.58 NOK
Previous Close
0.58 NOK
Day High
0.59 NOK
Day Low
0.57 NOK
52 Week High
04/2/14 - 4.78 NOK
52 Week Low
02/10/15 - 0.51 NOK
Market Cap
Average Volume 10 Days
-0.11 NOK
Shares Outstanding
Dividend Yield
Current Stock Chart for POLARCUS LTD (PLCS)

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polarcus ltd (PLCS) Details

Polarcus Limited, a marine geophysical company, through its subsidiaries, provides marine acquisition services primarily to multinational oil and gas companies worldwide. The company specializes in towed streamer data acquisition from pole-to-pole. Its contract services include conventional 3D surveys, broadband data acquisition, wide and multi-azimuth projects, and high density 4D production surveys; and multi-client project library services. The company operates a fleet of seven 3D seismic vessels. Polarcus Limited has collaboration arrangements with ION Geophysical Corporation to develop, execute, and market 3D multi-client seismic programs; and with Turkish Petroleum Corporation for seismic data acquisition, management, and crewing services for the vessel. The company was incorporated in 2007 and is based in Dubai, the United Arab Emirates.

600 Employees
Last Reported Date: 02/10/15
Founded in 2007

polarcus ltd (PLCS) Top Compensated Officers

Chief Financial Officer
Total Annual Compensation: $482.0K
Head of Strategic Investments and Executive V...
Total Annual Compensation: $634.0K
Compensation as of Fiscal Year 2013.

polarcus ltd (PLCS) Key Developments

Polarcus Limited Announces Earnings Results for the Fourth Quarter of 2014

Polarcus Limited announced earnings results for the fourth quarter of 2014. Revenue was USD 93.3 million, down 24% from the same quarter the previous year. LBIT was USD 18.8 million before and USD 47.7 million after non-recurring charges. The fourth quarter was marked by a rapid decline in oil prices and cautious spending by oil companies. The challenging market environment and capacity reallocation from multi-client to contract led to increased competition for contract work, resulting in both a lower unit price and increased standby time for the fleet. Earnings were negatively affected by a USD 28.8 million impairment charge, of which USD 22.6 million results from a detailed evaluation of the sales outlook for the company's multi-client library and USD 6.2 million relates to old thrusters held as spares.

Rod Starr Assumes Role of Chief Executive Officer of Polarcus Limited, Effective February 5, 2015

Polarcus Limited announced that effective February 5, 2015, Rod Starr has assumed the role of Chief Executive Officer of Polarcus. Prior to joining Polarcus, Rod worked for TGS-NOPEC Geophysical Company where he held several senior management positions worldwide, most recently as Senior Vice President, Western Hemisphere.

Polarcus Limited Announces Resignation of Hege Sjo as Director, February 2, 2015

Polarcus Limited announced that Hege Sjo will resign from the Board of Directors effective 02 February 2015. Hege has accepted an appointment as Deputy Director General in the Norwegian Ministry of Trade, Industry and Fisheries, and is therefore unable to continue as a board member at Polarcus. Hege Sjo has been a member of the Board of Polarcus since June 2008.


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PLCS Competitors

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