SAExploration pays down debt with $14.5 million asset-sale proceeds

By Wendy Van Sickle

Columbus, Ohio, Jan. 23 – SAExploration Holdings, Inc. used proceeds from its recent $14.5 million sale of Alaska North Slope seismic library datasets to pay down debt under its credit facility, according to a news release.

“A high priority for us is to improve our balance sheet. The sale of non-core assets to reduce debt has been an important tool to deliver on that priority,” Michael Faust, chairman, president and chief executive officer of SAE, said in the release.

SAExploration is a Houston-based oilfield services company.

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