SAExploration Hlds

SAExploration Holdings, Inc. is an oilfield services company. It is engaged in the provision of seismic data acquisition and logistical support services, which includes program design, planning & permitting; camp services; surveying & drilling; and reclamation. The company was founded on February 2, 2011 and is headquartered in Houston, TX.

HOUSTON, Dec. 21, 2020 (GLOBE NEWSWIRE) -- SAExploration Holdings, Inc. (“SAE” or the “Company”) announced today that it has successfully completed its financial restructuring and emerged from Chapter 11 as a private, non-SEC reporting company. As a result of its plan of reorganization, which received broad support from its creditors, the Company has reduced its debt by approximately $74 million, net, thus positioning the Company for future growth.  During the course of its restructuring, SAE continued to maintain global business as usual, preserving its strong relationships with its customers, vendors and employees for the Company's future.

SAExploration Successfully Completes Financial Restructuring

Reorganization Expected to Reduce Debt by Approximately $74 million, Net and Position the Company for Future Growth Reorganization Expected to Reduce Debt by Approximately $74 million, Net and Position the Company for Future Growth

SAExploration Enters into Restructuring Support Agreement for Comprehensive Balance Sheet Improvement

Shares of SAExploration Holdings Inc. SAEX, +6.48% nearly tripled--up 176%--in active premarket trading Wednesday, after the oil field services company said it was awarded a new land seismic acquisition contract in Greece.

SAExploration's stock nearly triples after being awarded $27 million contract in Greece

HOUSTON, April  21, 2020  (GLOBE NEWSWIRE) -- SAExploration Holdings, Inc. (“SAE”) (NASDAQ: SAEX, OTCQB: SXPLW) today announced the award of a new land seismic acquisition contract in Greece.  The project is valued at approximately $27 million and is expected to begin as soon as practical following the lifting of COVID-19 related travel restrictions in Greece.  The program is expected to take 90-120 days to complete once field operations have begun.  We are unable to predict when the COVID-19 related travel restrictions in Greece will be lifted or that other COVID-19 related restrictions will not be imposed, and when the project will commence.

SAExploration Announces New Project in Greece

HOUSTON, April  13, 2020  (GLOBE NEWSWIRE) -- SAExploration Holdings, Inc. (“SAE”) (NASDAQ: SAEX, OTCQB: SXPLW) today announced that it is initiating a process to analyze and evaluate various strategic alternatives to address its capital structure and to position SAE for future success.

SAExploration Announces Engagement of Financial Advisor to Explore Strategic Alternatives Related to Its Capital Structure

HOUSTON, Feb.  07, 2020  (GLOBE NEWSWIRE) -- SAExploration Holdings, Inc. (“SAE”) (NASDAQ: SAEX, OTCQB: SXPLW) today announced that it has filed an amended Annual Report on Form 10-K/A for the fiscal year ended December 31, 2018 with the Securities and Exchange Commission (“SEC”). The Annual Report includes restated audited consolidated financial statements as of and for the years ended December 30, 2018 and 2017, as well as restated unaudited interim financial statements for the quarterly periods ended December 31, 2018, September 30, 2018, June 30, 2018, March 31, 2018, December 31, 2017, September 30, 2017, June 30, 2017 and March 31, 2017. SAE has also filed an amended Quarterly Report on Form 10-Q/A for the quarterly period ended March 31, 2019, which includes restated unaudited interim financial statements for the quarterly periods ended March 31, 2019 and March 31, 2018. SAE has also filed Quarterly Reports on Form 10-Q for the quarterly periods ended June 30, 2019 and September 30, 2019, and is now current in its filings with the SEC.

SAExploration Files Restated Financial Reports

HOUSTON, Jan.  23, 2020  (GLOBE NEWSWIRE) -- SAExploration Holdings, Inc. (NASDAQ: SAEX, OTCQB: SXPLW) today announced two new projects in offshore West Africa.  The projects are valued at approximately $42 million in the aggregate and are scheduled to occur primarily during the 2nd quarter of 2020 and last approximately 71 days.  Services to be provided will include 3D/4D data acquisition utilizing autonomous ROV-deployed nodal recording technology in water depths up to 1,700 meters.

SAExploration Announces $42 Million of New Projects in Offshore West Africa, and Reduction in Debt of $14.5 Million

HOUSTON, Nov.  22, 2019  (GLOBE NEWSWIRE) -- SAExploration Holdings, Inc. (NASDAQ: SAEX, OTCQB: SXPLW), or SAE, today announced that on November 19, 2019, it received a notice (the “Notice”) from the Listing Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”) stating that because the Company had not timely filed its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2019 and because the Company remains delinquent in filing its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2019, the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires listed companies to timely file all required public financial reports with the Securities and Exchange Commission.

SAExploration Announces Receipt of Nasdaq Non-Compliance Letter

Shares of SAExploration Holdings Inc. nearly tripled (up 174%) in active trading Tuesday, to pace all premarket gainers, after the oilfield services and seismic data company announced new contracts valued at a total of $130 million in Alaska, Canada and the Middle East.

SAExploration's stock rockets off record low after $130 million in new contract awards

HOUSTON, Nov.  18, 2019  (GLOBE NEWSWIRE) -- SAExploration Holdings, Inc. (NASDAQ: SAEX, OTCQB: SXPLW), or SAE, today announced a combined $130 million of new projects in Alaska, Canada and the Middle East.

SAExploration Announces $130 Million of New Projects in Alaska, Canada and Middle East

HOUSTON, Sept.  24, 2019  (GLOBE NEWSWIRE) --  SAExploration Holdings, Inc. (NASDAQ: SAEX, OTCQB: SXPLW) today announced that on September 23, 2019 it entered into forbearance agreements (the “Forbearance Agreements”) with lenders representing approximately 93% of the outstanding loans under its credit and security agreement (the “ABL Agreement”), lenders representing at least 67% of the outstanding loans under its term loan and security agreement (the “Term Loan Agreement”), and holders representing at least 90% of its outstanding 6.00% Senior Secured Convertible Notes due 2023 (the “Convertible Notes”) (collectively, the “Forbearing Creditors”).

SAExploration Announces Entry Into Forbearance Agreements, Additional Advances Under Its Credit Agreement and Repayment of Its 10% Senior Notes Due 2019

HOUSTON, Aug.  22, 2019  (GLOBE NEWSWIRE) -- SAExploration Holdings, Inc. (NASDAQ: SAEX, OTCQB: SXPLW) today announced the appointment of industry veteran Michael Faust as interim President of the Company with immediate effect. Additionally, as previously disclosed, Mr. Faust has assumed the role of Executive Chairman of the Board of Directors of SAExploration.

SAExploration Appoints Industry Veteran Michael Faust as Interim President in Addition to Role as Executive Chairman of the Board

SAExploration Holdings, Inc. (SAEX) CEO Jeff Hastings on Q1 2019 Results - Earnings Call Transcript

SAExploration Holdings, Inc. (SAEX) CEO Jeff Hastings on Q4 2018 Results - Earnings Call Transcript

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