Profile: Global Geophysical Services Inc (GGS.N)
4.26USD
12:07pm EDT
$-0.12 (-2.74%)
$4.38
$4.38
$4.38
$4.23
9,362
47,382
$6.47
$1.86
Global Geophysical Services, Inc. (Global), incorporated on June 18, 2003, provides an integrated suite of seismic data solutions to the global oil and gas industry, including Global’s RG-3D Reservoir Grade (RG3D) seismic solutions. Its seismic data solutions consists of seismic data acquisition, microseismic monitoring, processing and interpretation services. It creates images of the earth’s subsurface and reveals complex structural and stratigraphic details, which are used primarily by oil and gas companies to identify geologic structures favorable to the accumulation of hydrocarbons, to reduce risk associated with oil and gas exploration. In addition, it owns and markets seismic data library and licenses this data to clients. The Company operates in two segments: Proprietary Services and Multi-client Services. As of December 31, 2012, the Company owned approximately 138,000 recording channels. On January 4, 2012, the Company acquired 100% interest of Sensor Geophysical Ltd.
The Company’s seismic solutions are used by oil and gas exploration and production companies, including national oil companies (NOCs), integrated oil companies (IOCs), and independent oil and gas companies. Global provides seismic data acquisition on a worldwide basis for land, transition zone and shallow marine areas, including environments, such as marshes, forests, jungles, arctic climates, mountains and deserts. Global has also operated in the United States shale plays, including the Haynesville, Barnett, Bakken, Fayetteville, Eagle Ford and Woodford. The High Definition Recorder (HDR) is the recording platform for Global's microseismic frac monitoring services. The AUTOSEIS HDR is the Company’s primary recording platform for seismic data acquisition.
Proprietary Services
The Company conducts geophysical surveys for its clients on a contractual basis where the Company’s clients generally acquire all rights to the seismic data obtained through such survey. Global also provides its clients seismic data acquisition, microseismic monitoring, data processing, and interpretation services. In some cases, the Company is shown a prospect area and asked to propose and bid on a survey of its own design. In other cases, Global may be able to propose modifications in the process or scope of a proposed project. Once the scope of the work is defined, either Global or the client will undertake to obtain the required land access consents and permits. Once the required consents and permits are obtained, it surveys the prospect area to determine where the energy sources and receivers would be located.
The Company’s crews then place the geophones and energy sources into position, activate the energy sources, collect the data generated and deliver the data sets to the client. In some cases, data interpretation and processing is included in the total package bid, and in others it is bid separately. During 2012, revenues from Global’s Proprietary Services accounted for 54% of total revenues.
Multi-client Services
Global offers seismic data acquisition services in a Multi-client structure. The Company’s Multi-client Services projects differ from its Proprietary Services projects in that Global set the specifications of the program (with some input from its clients), generally handle aspects of the acquisition, from permitting to processing, and maintain ownership of the seismic data and associated rights after the project is completed, including any revenue stream. The Company includes the seismic data sets that Global has acquired through its Multi-client shoots in its seismic data library. The Company's seismic data licenses are transferable only under limited circumstances. During 2012, revenues from its Multi-client Services accounted for 46% of total revenues.
The Company competes with Chinese National Petroleum Corporation, Compagnie Generale de Geophysique-Veritas (CGG), Dawson Geophysical Company, Geokinetics, Inc., Seitel, Inc., TGC Industries, Inc. and WesternGeco .
Company Address
Global Geophysical Services Inc
13927 South Gessner Road
MISSOURI CITY TX 77489
P: +1713.9729200
F: +1713.9721008
Company Web Links
| Name | Compensation |
|---|---|
Richard White |
1,056,840 |
P. Mathew Verghese |
383,883 |
James Brasher |
-- |
Thomas Fleure |
205,448 |
Ross Peebles |
462,194 |

