DJ SAExploration Shares Up on News of New Projects, Reduced Debt
By Stephen Nakrosis
Shares of SAExploration Holdings, Inc. (SAEX) are pushing higher in Thursday's late market, after the company said it acquired two projects offshore West Africa with an aggregate volume of about $42 million.
The company also said it used $14.5 million of proceeds from an asset sale to reduce debt.
At 4:39 p.m. EST, the company's shares had gained 51.32% to trade at $3.45. Volume in the after-hours session topped 53,000 shares.
The company's stock closed the day's regular trading session with a 1.79% gain, finishing at $2.28.
The work is expected to take place during the second quarter of this year and will last about 71 days, the company said.
SAExploration Holdings is an international oilfield services company.
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
January 23, 2020 16:46 ET (21:46 GMT)
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