Stingray Geophysical Raises £3.15M
Published On May 28, 2010 |
Stingray Geophysical Limited, a Guildford, UK-based provider of Seismic Permanent Reservoir Monitoring (Seismic PRM) solutions to the upstream oil and gas industry, completed a £3.15m funding round.
Investors included existing shareholders Energy Ventures, Cody Gate Ventures, Chevron Technology Ventures and Statoil Venture, together with Magne Sveen (non-executive Chairman) and Martin Bett (Chief Executive).
Commenting on the round, Martin Bett, CEO of the company, stated: “this investment represents a big vote of confidence in Stingray’s ability to deliver complete solutions that will enable oil company customers to produce more, increase reserves and reduce through-life cost and risk”.