Good morning and welcome to our Q4 conference call. My name is Carel Hooijkaas. With me today is my CFO, Stig Hognestad. We welcome your questions at the end of this presentation. In addition to the audio questions, you also have the possibility to ask questions through the chat function at the bottom right of your screen. You can type in your questions as we go through the presentation, and we will answer both the audio, and written questions at the end of our prepared remarks. Let's start. In Q4, we positioned the company well for 2022. We had seasonally lower activity, which was further impacted by weather, and environmental conditions on the project in the Gulf of Mexico. We completed the data processing of the Cornerstone Multi-Client Project phase I, and successfully started the project in India. For Q4, revenue came in at $72.2 million, with a gross margin of 30%. EBITDA came in at $12.4 million, or 17%, due to seasonally lower activity. We generated an operating cash flow of $12 million. Total backlog at the end of Q4 was $293 million, up 48% year-on-year, of which approximately $190 million is for delivery in H1 of 2022. Importantly, the backlog was secured at improving margins as the market starts to tighten. We continue to execute our renewable strategy and are focusing on opportunities in North America, Europe, and Asia. Let's now move to the operations update. The Sea Explorer One crew continued to work in the Gulf of Mexico, with performance impacted by poor weather and environmental conditions. The environmental conditions are expected to persist into Q1. The Sea Explorer Two crew was idle in Q4 after the successful project in West Africa in Q3. The crew is now getting ready to go to work on the new project in the Gulf of Mexico. The Z700 crew completed a project in the North Sea and mobilized for a project in India, which commenced in Q4 as scheduled. The MASS crew completed a Node Drop project in the North Sea on a Hybrid OBN Streamer Survey and was idle for the remainder of the quarter. Reservoir Monitoring and Source Crews finished the North Sea season in November, followed by regular maintenance and readiness checks for the 2022 season. Let's now have a look at our backlog. Backlog improved 48% year-on-year on higher margins. At year-end 2021, we had a backlog of $293 million. In Q4, we secured four contracts. We secured a five-month project in the Gulf of Mexico with options to extend, commencing in Q1 of 2022 using the Sea Explorer Two c rew. We also secured a two-month project in the Gulf of Mexico with an optional project for an additional two months, commencing in Q1 2022 using our Sea Explorer One crew. In addition, we secured a one-month project in the North Sea, starting in Q2 of 2022 using our Z700 technology. Last but not least, we secured a three-month project in the Mediterranean, starting in Q2 of 2022 using the MASS technology. In Q1, we secured an additional two contracts so far. First, one of our clients exercised the option for a two-month project in the Gulf of Mexico, commencing in Q2 of 2022 using our Sea Explorer One crew. Second, we secured a two-month project in the North Sea, commencing in Q3 of 2022 using our Z700 technology. With these contract wins, and without adjusting for the year-to-date revenue recognition, the backlog stands at $326 million. Moving to renewables, we continue to execute our renewable strategy along four tracks. First, we continue to be part of the Centre for Geophysical Forecasting to do fundamental research for geophysics in the renewable space. We are currently in discussions to execute a test in 2022 to validate the research using our Node Drop technology. Second, we continued to be part of the Project Greensand Consortium in Denmark. The engineering for this project will start in Q1 of 2022, with acquisition scheduled for Q4 of 2022. The third track is to do pilot projects in the North Sea in order to have real data examples for our clients. To further develop this business. The Wind Farm Pilot Project was acquired in 2021, and we are currently reviewing the Pilot plans for acquisition over a CCS field in 2022. The last and fourth track is to participate in tenders for new projects. Our main focus areas are the U.S., Europe, and Asia in this regard. This moves us to the updated crew activity backlog. The Sea Explorer One crew is now booked into Q3 in the Gulf of Mexico. The Sea Explorer Two crew is now getting ready to go to work on the new project in the Gulf of Mexico and is booked into Q3. The Z700 crew will complete the India project in Q2 and will then transit to the North Sea for the summer season. The MASS crew will mobilize in Q2 for the new project in the Mediterranean and is now booked into early Q3. The Reservoir Monitoring and Source Crews are under long-term contracts and are doing the necessary maintenance and readiness preparations ahead of the startup of work in Q2. The renewables project is Project Greensand in Denmark. Engineering will start in Q1, and project acquisition is scheduled for Q4. Before I hand the call to Stig, I would like to officially welcome Stig to Magseis Fairfield as our new CFO. It's great to have you on the team, and I look forward to the exciting times we have ahead of us. With that please go ahead, Stig. Thank you Carel, and good morning, everyone. As Carel mentioned, my name is Stig Hognestad, and I joined the company during the fourth quarter. My background is from oil field services, primarily from marine seismic acquisition, wellbore logging, and drilling. I started in finance after graduating from business school and later moved over to operational positions, and for the last 13 years held CFO, and CEO positions. As you could tell from Carel's presentation, we ended the year with seasonally lower revenues, but reasonable gross margins and a strong backlog, allowing us to have a good speed into this year. Let's have a look at the Q4 financial highlights. Revenue came in at $72 million for the fourth quarter and $258 million for the full year, slightly above what was guided in Q3. Gross margins have varied across the quarters with the fourth quarter margin of 30%, slightly above the full year level of 28%, mainly due to Multi-Client Revenues, and accounting for longer-term charters as depreciation. The EBITDA came in at 17% or $12.4 million for Q4, slightly down versus 18%, and $47 million for the full year. Operating Cash Flow ended at $12 million in the quarter and continues to be affected by working capital requirements for a larger ongoing survey. We ended the year with a cash holding of $29.7 million. The Q4 revenues of $72.2 million was a sharp increase from the fourth quarter 2020, but somewhat below the previous quarter. This reflects lower seasonal activity into the winter months and one crew in transit to Asia, like we commented upon in the Q3 presentation. It is worth noting that we have re-recognized $8.7 million of multi-client pre-funding from the Cornerstone project and expect delivery of phase II in the first half of 2022. This is the first time we recognized revenues from this survey, and reflects that the data processing for this phase has been completed. We also had system rental and sales accounting to $9.5 million during the quarter that partly explains the growth. It is worth noticing that acquisition revenue in the quarter were 35% higher versus the same quarter 2020 and only beaten by Q3 of 2021. Looking ahead and building on the crew activity backlog Carel presented, we expect revenues in Q1 2022 sharply higher than the last year and also above Q4 2021. This is mainly due to the mobilization of the Sea Explorer Two crew in the Gulf of Mexico in the latter part of first quarter and a full quarter with operations by the Z700 crew in Asia. Looking at the gross profit for the quarter, we ended at 30%, generating $21.6 million, up from $15.3 million in the same quarter 2020 and in line with last quarter, helped by the Multi-Client pre-funding and a $2.1 million lease gain, partly offset by impairment of inventory. Last time around, we indicated a lower margin in Q4 and underlying margin of 27% is slightly below the previous few quarters as expected. Looking forward, we expect an improvement as we enter the summer season, particularly from the second quarter. Turning to overhead costs, SG&A came in at $9.2 million in the fourth quarter, including a $1.8 million bonus accrual. Total SG&A cost for the full year ended at $24.5 million in line with what we communicated in Q3. The cost level reflects continuous cost focus implemented a couple of years ago, and we'll continue our focus on cost and cash and expect SG&A level of $25 million-$30 million in 2022, depending on the level of activity we will have this year. Summing up on the EBITDA level, we report a Q4 EBITDA of $12.4 million, partly helped by the multi-client pre-funding revenue and a $2.1 million lease gain. This was partly offset by lower returns from the Sea Explorer One crew due to the adverse conditions, as Carel mentioned, as well as a $2 million impairment of inventory and some restructuring cost and bonus accruals, as I mentioned. We have no late sales during the quarter, so that should improve the possibility of such in 2022. With work executed that was awarded during COVID, the overall profit was not as high as we would like to see. However, we believe we are well positioned for 2022, which the backlog presented also indicates, particularly from second quarter when new projects are expected to commence. Here are the key figures summarized for you on both IFRS Basis and Segment Basis. Just a few brief notes on the P&L below the EBITDA line. Depreciation and Amortization amounted to $18.8 million in Q4. That was an increase of about $5 million year-over-year, and this is mainly related to the Amortization of the Cornerstone Multi-Client Survey, where the revenues were recognized in Q4. We've also charged income statement with impairment of $6.5 million related to equipment and R&D projects with limited or no expected future use and value. This generated an EBIT loss of $12.9 million for the quarter. Looking at the CapEx, we came in at $6.1 million for the quarter and $12 million in total for the full year. This is excluding Multi-Client Investments. The $12 million compares well with the guidance level of less than $15 million that was given previously. The investment level in the fourth quarter was higher than the unnaturally low levels seen early in the year and primarily reflects investments in the containerized back deck equipment for the Sea Explorer crew, Two crew being mobilized in Q1, long lead items for Node Builds, and investments in source equipment. Overall, in 2021, we invested $5 million in sustaining CapEx, and $7 million in growth CapEx. Looking ahead, we expect CapEx in 2022 of around $15 million, but this will, as normal, depend on activity level and the market conditions we experience. Turning to the cash flow for the quarter, cash generated from operating activities were $12 million, assisted by equipment sales and with low cash cost. Net investments amounted to $2.1 million from CapEx plus our share of Multi-Client processing. Cash outflow from financing was $5.9 million, and this mainly related to payments of lease liabilities and interest in line with the last quarter. With these cash flows, we ended the year with a cash holding of $29.7 million. With the current outlook, and schedule we're managing the planned growth with our current cash position. If we look at the Net Working Capital development by quarter, we see that we in Q4 managed to reduce the working capital, but not as much as anticipated, where we in Q3 stated the capital would be back to almost neutral levels. As you can see, we came down from $13 million-$9 million, so we still have a way to go. The delay is mainly related to the project in Asia, where the invoicing is triggered by completed full-fold square kilometer and QC data rather than the more Common Shot-Point acquisition rate, and hence we have a larger balance of unbilled revenue. This is temporary by nature until converting into cash holdings later in the project. Our financial forecast currently shows that the working capital will stay higher than we desire in Q1 before we expect it to stabilize around neutral levels in Q2, depending on the project scheduling, and phasing. Looking at the overall balance sheet development, it has been relatively stable over the past few quarters, and continue to be so. Our debt ratio remains below 10% of total assets, and we have no debt installments due in 2022. The equity ratio was 53% at the end of the year, and we remain in compliance with all debt covenants on our revolver with the bank as you should expect. With that, I'll give the mic back to Carel for a run-through of the market outlook and our strategic development. Thank you. Thank you, Stig. Let's now look at the market and strategic development. Let's start by looking at the macro picture. The macro picture is positive and will fuel investments in already explored assets. This is precisely where Magseis Fairfield has its offering, and is therefore very positive for us. In the graph, you see global crude, and condensate balances as forecast by Rystad Energy. We see a continued tightness in the market with both inventories, and OPEC+ spare capacity declining. Commodity pricing is therefore expected to remain healthy. From a demand perspective, the energy demand is expected to continue to grow in the post-COVID new normal with air travel recovering throughout 2022 and beyond. We forecast that the need for increased oil and gas supply in the short to medium term will translate into investments to increase recovery rates from already explored assets. This is clearly shown here. In the graph, you see the global offshore upstream CapEx for greenfields from 2021 to 2025. Overall, the growth in greenfield investments is 14%. We see growth across all regions, but can split this into three main categories. We see moderate growth in the Americas and the Middle East, strong growth in North America and Asia, and high growth in Europe, and West Africa. It is important to note that greenfield investments can provide lower carbon barrels, which can be delivered quickly to the market with attractive payback on investments and will naturally include OBN Projects. This is clearly shown here, where we look at the market growth for 2022. Based on awarded contracts, and forecasted tender activity, we predict a 25% overall market growth in 2022. Following the recent contract awards, approximately 65% of the visible projects for execution in 2022 have been awarded. Key opportunities remain in Europe, the Americas, and Asia. As a word of caution, due to market capacity constraints or project tendering delays, projects may slide into 2023. Looking at next year, we see opportunities for continued growth in the Deepwater & Hybrid Market. With the market continuing to strengthen, the company will add an additional Deepwater crew with new MASS III nodes from the first half of 2023. This requires only moderate growth investments with a cash cost of $3 million in 2023. These new MASS III nodes will replace some of the MASS I nodes. We are therefore keeping the total node inventory flat, but will increase the number of nodes which can address the Deepwater & Hybrid Market. As you have seen, the outlook is clearly positive. Looking at the graph on the right first, we finished 2021 with a total revenue of $258 million, and with the recent awards, we have a 2022 backlog of $240 million. This positions the company for a good start to 2022. To that point, H1 revenue for 2021 was $101 million. Today, we have a backlog for H1 2022 of $191 million. This is primarily driven by new acquisition contracts at improved margins. In Q1, we will finish the old contract in the Gulf of Mexico and mobilize for new projects, which means that Q1 will still be seasonally low. However, in Q2, we will have all crews operational on new contracts, which will fuel our financial performance. For H2 of 2022, our backlog stands at $49 million. This shows that we still have an opportunity to secure new contracts at improving margins. With this positive outlook, it is, however, important to highlight the changing revenue mix. As mentioned, in data acquisition, we see increasing pricing in a growth market, but still with an overlay of seasonal fluctuations. In Reservoir Monitoring and Source, we execute long-term contracts with stable revenues and good margins. In technology lease and sales, we are seeing the impact of supply chain delays pushing the majority of new deliveries into 2023. These supply chain delays will impact this high-margin business in 2022. In Multi-Client, we are expecting late sales in 2022. This is, however, a very binary business for us since we only have one Multi-Client Survey to generate the late sales from. As presented, we continue to be excited about our renewables business, but this is a startup business. We will focus on project execution in 2022, and backlog growth for 2023. This brings me to the summary, and outlook. We will continue to use our asset-light model and technology differentiation to capture 2022 market opportunities. We are well positioned for 2022 with robust backlog for H1 of 2022. Our focus remains on safe, efficient, and reliable execution of project backlog. Securing new contracts for H2 of 2022, and beyond remains a key priority. With the growth in the market, we are adding to our Deepwater capacity to address this market. This leaves me with one final comment. The successful turnaround of the company over the last two years has been well documented, and recognized. This has put Magseis Fairfield in a unique position to capture growth opportunities, and generate value. We have clearly established Magseis Fairfield as the market leader, and we have a global footprint to capture, and execute opportunities. We forecast double-digit market growth from 2022- 2025. We have secured a significant backlog at improved margins, and have a strong proprietary technology stack to offer differentiated solutions to our clients. To capture the growth opportunities, we are investing in MASS III Deepwater crew to add capacity to this market. We are excited about the continued execution of our renewable strategy. This sets us up very well for the next chapter of the company. We will talk more about this at our capital markets update on the 2nd of June 2022. We will clearly articulate our long-term plans for both the oil and gas business, but also the renewables business. We will look forward to presenting this to you, and further logistical details will be provided in due course. With that, we will start the Q&A. As usual, we will have the audio Q&A, but what is new this time is that you can also have the possibility to ask your questions through the chat functions, as I mentioned at the start of the presentation. We will start with the audio questions, and as usual, you can ask your question with one follow-up. Operator, can you please open the line for the first caller? Thank you, sir. If you wish to ask a question at this time, please press star one on your telephone keypad. Please ensure the mute function on your telephone is switched off to allow your signal to reach our equipment. Again, please press star one to ask a question. We will now take a question from Tommy Johannessen from SpareBank. Please go ahead. Yes good morning Carel, and Stig. Starting off with your comments on increasing pricing, and margins on recent secured contracts, and also a tightening market. Could you elaborate a bit about what's driving this margin growth? Is it mostly demand side, supply side, or is it a combination? Morning Tommy. Yeah, it's a combination of the two. We are seeing a tightening of the market where there is clearly an increase in demand from our customers who want more proprietary OBN survey shot, which obviously speaks well for our business. In addition, we see that some of our competitors are already signed up for the majority of 2022, which then gives us an opportunity to increase margins on our projects. Those are the elements that are at play, Tommy. Okay, perfect, y our comments on potential capacity constraints that some projects could be pushed into 2023. Is that for only Magseis or for the total global load? For. Capacity? Tommy that's for the total business. Again, some of our competitors, and some of our crews are well-booked, which simply means that some of the projects that our customers want to do need to slide to the right, move into the future, to get to an available slot. Again, these are all very positive signs for a tightening market where we have opportunities to increase pricing. Yeah I agree, my final question with the oil price now above $90 per bbl, how quickly do you see the oil companies react to this new oil price environment by issuing new tenders? Should we expect some further increase in tender volume in the coming quarters? Or do you think you have good visibility now on what will come in 2022? We have a detailed overview of what will come in 2022. I think the oil price that we see, and the tightening of the market that we see further adds to the growth we also forecast into 2023. We do see our customers coming out with very focused, very specific OBN surveys that will help them manage their reservoirs and increase production, because that ultimately helps them generate very healthy cash flows in today's environment. We're right in the middle of what's important to our customers, and therefore that provides a great opportunity for us. Perfect, t hank you. That was all my questions. Thank you Tommy. As a reminder, to ask a question, please press star one. We'll pause for a moment to allow everyone to signal. As a final reminder, if you wish to ask a question, please press star one. As there are no further questions at this time, I'd like to turn the call back to your speakers for any additional or closing remarks. We have a few questions in writing. What are the environmental factors in the Gulf of Mexico? Yeah, t he environmental conditions in the Gulf of Mexico are loop currents, which are directly impacting the speed with which the source boats can travel through the water, and are therefore impacting the amount of production we can do each day. These loop currents tend to move around in the Gulf of Mexico. That's a known effect. Unfortunately, we've had a very significant powerful loop current sitting right on the project that we're currently executing, and it's not moving. That has impacted Q4, and it's currently also impacting Q1, since we're still completing that particular survey. We have another question. Will Multi-Client prefunding also be recognized in the coming quarters? Yeah, t he plan is that we will complete the processing of the next phase of the Cornerstone project in H1, and then we will recognize further prefunding revenues in H1. We have another question here. Improved margins is mentioned. Can you say more about this? Are we talking about 1%-5% or 5%-10% or more? We're not giving specific guidance on margins, right? What we've spoken about previously is that we were looking at gross margins between 20%-25% on the acquisition contracts. The most recent awards are in fact above that, which again speaks to the strength of the market and the way we are pricing our services. We'll leave it at that. Are there any financial risks related to the ongoing arbitration with Fairfield, and when will it be settled? This is an ongoing process, right? As communicated, we are making all the necessary preparations for a mediation in March. Of course, I can't comment on the outcome. It's a mediation, so we will come out with statements following that process on what the outcome was of the mediation process. It's too early to give specifics on potential financial rewards to us. You delivered a gross segment margin of 18% in 2021. What should we expect in 2022 with regards to gross margin on segment level? Again, here, we're not gonna guide on returns. But I think we've given a lot of information with regards to the overall backlog that we see in front of us, and the kinds of margins we bid on the contracts that we are winning. I would like to leave it at that, at this point. With regards to new awards, what is the value of the pipeline you may land over the next two-three months? We're still in a very competitive market here, right? It's a bit too premature to say how much I think we're gonna win on a call like this. What I do want to reemphasize is that we see a very healthy pipeline in front of us, and we have very good, and specific discussions with our customers about their needs for the upcoming projects. On top of that, we still have availability starting during Q3 to meet their project requirements. That all fits very well with how we are positioned in the market for success in 2022. There is a question about the ongoing patent litigation. When can we expect this to be concluded? That's a good question, and unfortunately, these kinds of cases take a long time. I'm not expecting a conclusion on that in 2022 through the legal process. It's a long process that we go through, but I think an important one in that we protect our IP. We are very much in a technology market, and it's therefore important for us to protect our IP position and to make everybody aware that we will fight for our IP position. Specifically to the question, this will take time, and we will continue to update you as we progress through this. Due to the relatively low stock price, any chance for a buyback program in 2022? Yeah, we currently don't have any buyback programs in the company, but this will most likely be discussed again in the annual general meeting during the summer. It's something that always comes up, and we will review based on cash positions and the future. Can you elaborate regarding the effects of capacity constraints on Magseis' pricing power versus customers? Yeah, we actively monitor obviously what's taking place in the market on where capacity has already been signed up by our competitors, and obviously by ourselves, and what's available for the specific time requirements that our customers are tendering work for. Those are all elements that factor into the pricing that we use for the bid submissions that we make. That's what we do every day, and that's what we actively pursue to drive prices up. Okay, t hat concludes all the questions we have. Great, I would like to thank you for taking part today, and for your questions. Again, we have positioned the company very well for the future. The backlog at the end of the year was 293, an increase of 48%, and approximately $190 million of that is for the first half of 2022. Like we discussed in the Q&A, we are securing these at ever-increasing margins. We've really positioned the company well for a very good start to 2022, and we see an overall market growth of around 25% in 2022. Our positive outlook continues into 2023, and that's why we have also committed to an additional investment into a MASS III Deepwater crew, which will come out in 2023. We have an exciting time ahead of us. The team is fully focused on delivering, and we look forward to speaking to you soon again. Thank you.