Dawson Geophysical to Purchase Additional GSX Recording Equipment
and Energy Source Units
MIDLAND, Texas, Dec. 27, 2012 /PRNewswire/ -- Dawson
Geophysical Company (NASDAQ: DWSN) (the "Company"), today announced
that it has placed an order for 12,000 channels of the Geospace
single-channel GSX cable-less recording equipment. The 12,000
channels will replace an RSR recording system on one of the
Company's existing data acquisition crews. The Company expects to
complete the purchase and take delivery by December 31, 2012, the end of its first quarter
of fiscal 2013. Upon delivery the Company will own in excess of
73,000 channels of GSR and GSX equipment and 179,000 channels
total.
In addition, the Company is in the process of taking delivery of
ten INOVA AHV IV 364 vibrator energy source units. The ten vibrator
energy source units will replace a set of energy source units on an
existing crew. Upon full delivery, the Company will own 179
vibrator energy source units.
Stephen Jumper, President and
Chief Executive Officer said, "This addition of the Geospace
channels keeps us in a leading technical and operational position
in the lower 48 United States with our ability to deploy six large
cable-less crews. The additional recording channels will provide
opportunities to further increase crew efficiencies on existing
crews and meet increasing client demand for high resolution
subsurface images."
About Dawson
Dawson Geophysical Company is a leading provider of U.S. onshore
seismic data acquisition services in the lower 48 states of
the United States. Founded in
1952, Dawson acquires and processes 2-D, 3-D and multi-component
seismic data solely for its clients, ranging from major oil and gas
companies to independent oil and gas operators, as well as
providers of multi-client data libraries.
In accordance with the Safe Harbor provisions of the Private
Securities Litigation Reform Act of 1995, Dawson Geophysical
Company cautions that statements in this press release which are
forward-looking and which provide other than historical information
involve risks and uncertainties that may materially affect the
Company's actual results of operations. These risks include but are
not limited to, the volatility of oil and natural gas prices,
disruptions in the global economy, dependence upon energy industry
spending, limited number of customers, credit risk related to our
customers, cancellations of service contracts, high fixed costs of
operations, weather interruptions, inability to obtain land access
rights of way, industry competition, managing growth, the
availability of capital resources and operational disruptions. A
discussion of these and other factors, including risks and
uncertainties, is set forth in the Company's Form 10-K for the
fiscal year-ended September 30, 2012. Dawson Geophysical
Company disclaims any intention or obligation to revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
www.dawson3d.com
SOURCE Dawson Geophysical Company