HOUSTON, Oct. 14, 2010 (GLOBE NEWSWIRE) -- Global Geophysical Services, Inc. (NYSE:GGS) today announced that its wholly owned subsidiary AutoSeis, Inc. ("AutoSeis"), will acquire RDSeismic LLC ("RDS"). Ralph Muse, Founder and President of RDS will join AutoSeis as its President and lead Global's seismic equipment development activities.
In 2010, RDS brought to market the High Definition Recorder ("HDR") – a small footprint, lightweight, autonomous nodal land seismic data recorder that sets a new benchmark for data quality.
Richard Degner, Global's President and CEO, commented: "With our experience in the use of many industry leading recording technologies, the HDR represents a breakthrough system for our requirements. The combination of simplicity, ruggedness, extended dynamic range, and low power consumption is combined in a system at a fraction of the investment requirement of other systems."
Tom Fleure, Global's Senior Vice President of Geophysical Technology, noted, "As an extension and supplement to our current, industry leading Sercel cable telemetry systems, HDR will support our clients' requirements for increasing channel count and facilitate the expansion of our high-resolution Reservoir Grade RG-3DTM seismic data acquisition capabilities. We expect the new AutoSeis HDR to provide a distinct advantage in HSE benefits and operational efficiency, particularly in challenging terrain. We are further leveraging the core technology of RDS in the development of a marine nodal system for seafloor applications."
Global will take delivery of an initial 10,000 land HDR units through the spring of 2011. Global will initially deploy the HDR units on its land data acquisition programs as well as with its recently announced Global Microseismic Services SM business unit.
The transaction is expected to close in the fourth quarter of 2010, subject to normal and customary closing conditions.
About RDSeismic
RDSeismic, headquartered in Carrollton, TX, develops cutting edge autonomous nodal seismic recording systems. To learn more about RDSeismic, visit www.rdseismic.com.
About Global Geophysical Services, Inc.
Global Geophysical Services, headquartered in Houston, TX, provides an integrated suite of seismic data solutions to the global oil and gas industry including high-resolution RG-3D Reservoir Grade™ seismic data acquisition, microseismic monitoring, seismic data processing and interpretation services, and Multi Client data products. Global Geophysical Services combines experience, innovation, operational safety and environmental responsibility with leading edge technology to facilitate the success of its clients by providing them the tools to Gain InSight. To learn more about Global Geophysical Services, visit www.GlobalGeophysical.com.
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