FairfieldNodal makes strategic decisions to weather downturn

The recent oil and gas industry downturn has created an enormously difficult economic environment for the seismic industry. Like most other companies weathering this prolonged and serious slump, FairfieldNodal is experiencing a slowdown. As a result, the company has made strategic decisions to ensure its continued strength and integrity. Those decisions have included a reduction in workforce.

In response to the particularly extreme challenges its land seismic equipment customers are experiencing, FairfieldNodal plans to significantly scale back its land equipment sales and marketing division there until recovery resumes. Its production crew and customer service personnel will continue to support existing customers, and offer select customers the most cost-effective land nodal systems. Its ocean-bottom acquisition crew is ready to go anywhere in the world. Its processing team has the specialised expertise to make the most of nodal data, including the company’s prime multi-client data of the Gulf of Mexico Shelf and the Permian Basin.

“We’re leaner now, but we have the most highly qualified professionals leading each of our three divisions,” says FairfieldNodal President and Chief Executive Officer Charles (Chuck) Davison. ”We continue to offer superior nodal seismic technology and solutions, and our nodal acquisition and processing are the best in the marketplace.”

Davison describes FairfieldNodal’s financial position as enviably strong, and feels the position has been further strengthened by the difficult, but necessary, moves. “We see 2016 as a period of great opportunity for improvement,” Davison concluded. “We are focused on improving every aspect of our value proposition. That includes more efficient processes, more employee training and more innovation, all while maintaining our commitment to safety and the environment. I expect to continue to lead the nodal seismic industry and ensure FairfieldNodal remains the provider of choice for nodal seismic services in the global oil and gas industry in this challenging period and in the months ahead.”

Adapted from a press release by David Bizley

Read the article online at: https://www.oilfieldtechnology.com/exploration/08122015/fairfieldnodal-makes-strategic-decisions-to-weather-downturn/