An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Geospace Technologies Signs $3 Million Mariner Rental Agreement
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Geospace Technologies Corporation (NASDAQ: GEOS) announced a $3.2 million rental contract with Walker Marine Geophysical for 3,000 Mariner® wireless seismic data acquisition nodes. The delivery is set for Geospace’s third quarter of fiscal year 2024. Mariner is designed for shallow water seabed use, with inductive charging, data download, and a slimmer profile for space savings on survey vessels.
Positive
None.
Negative
None.
HOUSTON--(BUSINESS WIRE)--
Geospace Technologies Corporation (NASDAQ: GEOS) today announced a rental contract with Walker Marine Geophysical, a high resolution land and marine seismographic surveyor provider who will rent 3,000 of the new product, Mariner®, shallow water seabed wireless seismic data acquisition nodes. Based on current contract terms, the minimum value of the agreement is $3.2 million. The delivery of Mariners will occur in Geospace’s third quarter of fiscal year 2024.
“We appreciate longtime customers such as Walker Marine who continue to recognize the value of gathering high quality data for their customers,” said Walter R. Wheeler, President and CEO, Geospace Technologies. “In today’s competitive ocean bottom node market, companies with staying power are choosing to protect their reputation and future business by selecting top quality seismic survey tools like Mariner. By including valuable features such as our internal heading sensor and built-in full resolution test generator, we ensure our customers deliver high quality results to their customers.”
Mariner is a shallow water seabed seismic data acquisition node designed with inductive charging and data download, which makes it a connector-free device. The USA designed and manufactured node continuously records for up to 70 days and offers accelerated recharging times. The device was engineered with a slimmer profile than industry standards to create space savings on seismic survey vessels, allowing contractors to fit up to 25% more nodes into a download/charge container.
About Walker Marine Geophysical
Founded in 1979, Walker Geophysical first used seismic technology to map coal in advance of underground mining. Over the course of the next three decades, Walker Marine Geophysical has worked on land and marine projects throughout the US, and overseas; from Africa, South America, Australia and New Zealand, to Mauritius, the Middle East and Indonesia. Today, the company provides land 3D seismic with state-of-the-art, autonomous nodes and vibrator sources. Also, the company performs 2D or 3D high resolution marine surveys with towed digital solid streamers or ocean bottom nodes
Geospace principally designs and manufactures seismic instruments and equipment. The company markets seismic products to the oil and gas industry to locate, characterize and monitor hydrocarbon-producing reservoirs. The company also markets seismic products to other industries for vibration monitoring, border and perimeter security and various geotechnical applications. Geospace designs and manufactures other products of a non-seismic nature, including smart water connectivity tools, imaging equipment and specialty contract manufactured products. For more information on the Company, visit www.Geospace.com.
since 1980, geospace technologies corporation has been bringing innovative seismic solutions to the most demanding and diverse environments worldwide. our field-proven land and marine cableless nodal seismic acquisition systems are striking examples of this innovation. geospace technologies corporation designs, manufactures and deploys seismic instrumentation, real-time reservoir monitoring systems, wellbore solutions, marine seismic accessories, cable and umbilical systems, and thermal imaging solutions. headquartered in houston, texas, geospace technologies corporation has international offices in canada, china, russia and the uk and international manufacturing facilities in canada and russia. geospace technologies: innovative engineering and manufacturing excellence producing game changing products.
