Survey outfit Wavefield Inseis has erased the net loss it reported a year ago to post a second-quarter net profit of $7.6 million on more oil-industry-backed seismic shoots of the world’s burgeoning oil provinces.

Revenues accrued to $28 million and were up exponentially on the $500,000 earned in the year-ago period. More was in store too, with the company reporting an order backlog of $216 million by the quarter’s end.

With business booming, the company expects some $95 million in the latest seismic equipment to kit out its surface vessels this year, including more of its tauted Permanent 4C4D EM gear.

Industry backing for Wavefield projects, meanwhile, told the story of up-and-coming oil provinces: 3D surveys of the Barents Sea in the Arctic, West of Shetlands, Uruguay, Chile, offshore Syria and the Asia Pacific all received some amount of industry pre-funding.

ws@scandoil.com