SAExploration Holdings, Inc. ("SAE") announced today the acquisition of Terrex Seismic ("Terrex"), Australia's leading seismic contractor. The acquisition returns SAE to the Australian land market and gives Terrex deep global support to continue its four-decade tradition of innovation and quality in seismic exploration.
"This acquisition is a milestone in our continued growth and strengthens our position as a global leader in seismic solutions," said Forrest Burkholder, Chief Executive Officer of SAE. "Terrex's history of innovation, safety, and client value aligns perfectly with our values. We will continue Terrex's reputation of excellence for its customers, employees, and the communities in which it operates. We are very happy about the fit."
Rick Dunlop, Chief Executive Officer of Terrex, commented: "I am very excited about the development. SAE is a client-focused seismic acquisition company with industry-leading land, marine, and transition zone operations. We share a very similar culture and values." Mr. Dunlop added, "Looking forward, this is a natural next step in Terrex's growth, and we are excited about the opportunities it creates for our people and our customers."
Terrex will continue to operate under the Terrex name. "We will deliver the same consistent and trusted service our clients have come to expect, now with the added support of SAE's global reach, resources, and expertise," added Mr. Dunlop.
Founded in 1981, Terrex has been a trusted partner to major energy companies, delivering seismic acquisition projects all across Australia. The company is recognized for its innovative approach to projects in challenging environments, as well as its deep expertise in land-based seismic operations.
By joining forces with Terrex, SAE gains:
Expanded geographic reach, with a stronger presence in Australia and access to Asia-Pacific growth markets.
Complementary expertise, combining SAE's global marine, land, and transition zone capabilities with Terrex's specialized onshore experience.
Enhanced client service, leveraging both companies' proven track records for safe, efficient, and reliable project execution.
SAE Chairman Ken Tubman added that following on the successful January 2025 acquisition and integration of inApril AS, a Norwegian seismic equipment technology company, the addition of Terrex to the SAE family further strengthens SAE's role as a unique provider in the global market. "Our global strategy is clear. We continue to position ourselves to be our customers' first and best choice across all our seismic solutions."