Profile: Geospace Technologies Corp (GEOS.OQ)
24 May 2017
Geospace Technologies Corporation, incorporated on March 26, 2015, designs and manufactures instruments and equipment used by the oil and gas industry to acquire seismic data in order to locate, characterize and monitor hydrocarbon producing reservoirs. The Company also designs and manufactures non-seismic products, including industrial products, offshore cables and imaging equipment. The Company operates through two segments: Seismic and Non-Seismic.
The Company's Seismic product segments include traditional exploration products, wireless exploration products and reservoir products. Its seismic product lines consist of land and marine nodal data acquisition systems, permanent land and seabed reservoir monitoring products and services, geophones and geophone strings, hydrophones, leader wire, connectors, telemetry cables, marine streamer retrieval and steering devices and various other products. On land, its customers use geophones, leader wire, cables and connectors to receive and measure seismic reflections resulting from an energy source into data recording units, which store the seismic information for subsequent processing and analysis. In the marine environment, large ocean-going vessels tow long seismic cables known as streamers containing hydrophones, which are used to detect pressure changes. Hydrophones transmit electrical impulses back to the vessel's data recording unit where the seismic data is stored for subsequent processing and analysis. Its marine seismic products also help steer streamers while being towed and help recover streamers if they become disconnected from the vessel. Its products used in marine seismic data acquisition include its seismic streamer retrieval devices (SRDs). The Company's SRDs, which are attached to the streamer cables, contain air bags, which are designed to inflate automatically at a given water depth, bringing the severed streamer cables to the surface. It also produces seismic streamer steering devices, or birds, which are fin-like devices that attach to the streamer cable.
The Company has developed a land-based wireless (or nodal) seismic data acquisition system called the GSX. Its GSX system is designed into configurations ranging from 1 to 4 channels per station. It also developed a marine-based wireless seismic data acquisition system called the OBX. Its deep water versions of the OBX system can be deployed in depths of up to 3,450 meters. The Company also develops permanently installed high-definition reservoir monitoring systems for land and ocean-bottom applications in producing oil and gas fields. The Company's high-definition reservoir monitoring products include the HDSeis product line and a suite of borehole and reservoir monitoring products and services. Its HDSeis system is a high-definition seismic data acquisition system with flexible architecture that allows it to be configured as a borehole seismic system or as a subsurface system for both land and marine reservoir-monitoring projects. The Company's multi-component seismic product developments include an omni-directional geophone for use in reservoir monitoring, a compact marine three-component or four-component gimbaled sensor and special-purpose connectors, connector arrays and cases. The Company also produces seismic borehole acquisition systems, which employ a fiber optic augmented wireline capable of high data transmission rates. These systems are used for various reservoir monitoring applications.
The Company's Non-Seismic product segments include imaging and industrial products. The Company's non-seismic products include electronic pre-press products that employ direct thermal imaging and digital inkjet printing technologies targeted at the commercial graphics, industrial graphics, textile and flexographic printing industries. These industrial products include sensors and tools for vibration monitoring, mine safety application and earthquake detection; cables for power and communication for the offshore oil and gas and offshore construction industries; water meter cables and connectors, and other specialty industrial cable and connector products.
The Company competes with CGG, ION Geophysical, INOVA, FairfieldNodal, Wireless Seismic, Seabed Geosolutions, Magseis ASA, Mitcham Industries, Inc., Seismic Equipment Solutions, Alcatel-Lucent, Petroleum Geo-Services ASA and Avalon Sciences Ltd.
Geospace Technologies Corp
7007 Pinemont Dr
HOUSTON TX 77040-6601