Geospace Technologies Closes Ocean Bottom Node Purchase Contract With Estimated Value of $10.5 Million
Geospace Technologies (NASDAQ: GEOS) has announced the sale of OBX-750E seabed ocean bottom wireless seismic data acquisition nodes to SAExploration, valued at an estimated $10.5 million. SAExploration exercised a purchase option from an existing rental agreement, recognizing the long-term value of owning these robust shallow water nodes.
Geospace Technologies, a leading innovator in marine seismic systems, offers various ocean-bottom wireless seismic data acquisition node systems, including the Aquanaut™ for depths exceeding 3,048 meters and the Mariner™ for shallow depths up to 750 meters. These systems are designed to provide cost savings through improved logistics, operations, maintenance, and repair over their lifetime.
Geospace Technologies (NASDAQ: GEOS) ha annunciato la vendita di nodi di acquisizione dati sismici wireless OBX-750E posizionati sul fondo marino a SAExploration, per un valore stimato di 10,5 milioni di dollari. SAExploration ha esercitato un'opzione di acquisto da un contratto di locazione esistente, riconoscendo il valore a lungo termine di possedere questi robusti nodi per acque poco profonde.
Geospace Technologies, un innovatore leader nei sistemi sismici marini, offre vari sistemi di nodi di acquisizione dati sismici wireless posizionati sul fondo marino, tra cui l'Aquanaut™ per profondità superiori a 3.048 metri e il Mariner™ per profondità ridotte fino a 750 metri. Questi sistemi sono progettati per offrire risparmi sui costi attraverso un miglioramento della logistica, delle operazioni, della manutenzione e delle riparazioni nel corso della loro vita utile.
Geospace Technologies (NASDAQ: GEOS) ha anunciado la venta de nodos de adquisición de datos sísmicos submarinos inalámbricos OBX-750E a SAExploration, valorados en aproximadamente 10,5 millones de dólares. SAExploration ejerció una opción de compra de un contrato de alquiler existente, reconociendo el valor a largo plazo de poseer estos robustos nodos de aguas poco profundas.
Geospace Technologies, un innovador líder en sistemas sísmicos marinos, ofrece varios sistemas de nodos de adquisición de datos sísmicos submarinos inalámbricos, incluyendo el Aquanaut™ para profundidades superiores a 3,048 metros y el Mariner™ para profundidades poco profundas de hasta 750 metros. Estos sistemas están diseñados para proporcionar ahorros de costos mediante la mejora de la logística, las operaciones, el mantenimiento y la reparación a lo largo de su vida útil.
지오스페이스 기술 (NASDAQ: GEOS)은 SAExploration에 OBX-750E 해저 무선 지진 데이터 수집 노드를 약 1050만 달러에 판매한다고 발표했습니다. SAExploration은 기존 임대 계약에서 구매 옵션을 행사하며 이 강력한 얕은 수역 노드를 소유하는 것의 장기 가치를 인식했습니다.
지오스페이스 기술은 해양 지진 시스템의 주요 혁신 기업으로서 Aquanaut™는 3,048미터 이상의 깊이에서, Mariner™는 750미터까지의 얕은 깊이를 위한 다양한 해저 무선 지진 데이터 수집 노드 시스템을 제공합니다. 이 시스템은 수명 동안 물류, 운영, 유지 보수 및 수리를 개선하여 비용 절감을 제공합니다.
Geospace Technologies (NASDAQ: GEOS) a annoncé la vente de nœuds d'acquisition de données sismiques sans fil OBX-750E à SAExploration, d'une valeur estimée à 10,5 millions de dollars. SAExploration a exercé une option d'achat d'un contrat de location existant, reconnaissant la valeur à long terme de posséder ces nœuds robustes pour eaux peu profondes.
Geospace Technologies, un pionnier dans les systèmes sismiques marins, propose divers systèmes de nœuds d'acquisition de données sismiques sans fil accrochés au fond marin, y compris l'Aquanaut™ pour des profondeurs dépassant 3 048 mètres et le Mariner™ pour des profondeurs peu profondes allant jusqu'à 750 mètres. Ces systèmes sont conçus pour offrir des économies de coûts grâce à une amélioration de la logistique, des opérations, de la maintenance et des réparations tout au long de leur durée de vie.
Geospace Technologies (NASDAQ: GEOS) hat den Verkauf von OBX-750E drahtlosen seismischen Datenakquisenoden für den Meeresboden an SAExploration angekündigt, dessen geschätzter Wert bei 10,5 Millionen Dollar liegt. SAExploration hat eine Kaufoption aus einem bestehenden Mietvertrag wahrgenommen und erkennt den langfristigen Wert des Besitzes dieser robusten, flachen Wasser-Nodes an.
Geospace Technologies, ein führender Innovator in marinen seismischen Systemen, bietet verschiedene drahtlose seismische Datenakquisenoden an, darunter den Aquanaut™ für Tiefen über 3.048 Meter und den Mariner™ für flache Tiefen bis 750 Meter. Diese Systeme sind darauf ausgelegt, Kosteneinsparungen durch verbesserte Logistik, Betrieb, Wartung und Reparatur während ihrer Lebensdauer zu bieten.
- Sale of OBX-750E nodes to SAExploration with an estimated value of $10.5 million
- Conversion of a rental agreement to a purchase, indicating customer satisfaction and long-term commitment
- Geospace's innovative product offerings designed for cost-effective, long-term use in various marine environments
- None.
Insights
The $10.5 million sale of OBX-750E nodes to SAExploration is a positive development for Geospace Technologies. This deal demonstrates the company's ability to convert rental agreements into outright sales, potentially improving cash flow and reducing inventory costs. The transaction highlights the attractiveness of Geospace's ocean bottom node technology in the marine geophysical services market.
However, investors should note that while this sale is significant, it may not dramatically alter Geospace's financial position. The company's revenue for the fiscal year 2022 was
Geospace's OBX-750E nodes represent cutting-edge technology in seabed seismic data acquisition. The sale to SAExploration underscores the industry's shift towards wireless, nodal systems for marine surveys. These nodes offer significant advantages over traditional towed streamer systems, including improved data quality in shallow waters and around obstacles.
The mention of Aquanaut™ and Mariner™ systems shows Geospace's commitment to innovation. The Aquanaut's ability to operate at depths over 3,000 meters for up to 200 days is particularly impressive, potentially opening up new exploration opportunities in ultra-deepwater environments. This technological edge could be a key differentiator for Geospace in the competitive seismic equipment market, potentially driving future growth and market share gains.
This sale reflects a broader trend in the seismic exploration market towards more efficient and flexible data acquisition systems. The transition from rental to purchase indicates growing confidence in the long-term viability of ocean bottom node technology. It also suggests that marine geophysical service providers like SAExploration are seeing increased demand for their services, possibly signaling a recovery in offshore exploration activities.
However, the seismic equipment market remains cyclical and tied to oil prices. While this deal is positive, investors should monitor global energy trends and exploration budgets of major oil and gas companies for a comprehensive view of Geospace's growth prospects. The company's ability to diversify its product portfolio and customer base will be important for long-term stability in this volatile market.
“We appreciate SAE’s recognition of the long-term value provided through ownership of our robust shallow water ocean bottom nodes,” said Walter R. Wheeler, President and CEO, Geospace Technologies. “By exercising the purchase option in an existing rental contract, SAE gains the ability to cost effectively provide high quality data to their clients for years to come.”
As a leading innovator and manufacturer of marine seismic systems, Geospace Technologies offers ocean-bottom wireless seismic data acquisition node systems, permanent reservoir monitoring systems, and marine streamer accessories. The Company’s most recent seabed node offerings were designed to provide savings over the lifetime of ownership through improved logistics, operations, maintenance and repair. The Aquanaut™ is designed for extended-duration seabed ocean bottom seismic data acquisition. These nodes can be deployed in depths exceeding 3,048 meters with continuous recording for up to 200 days. The Mariner™ is designed for extended-duration seabed ocean bottom seismic data acquisition, ideally deployed at shallow depths down to 750 meters with continuous recording for up to 70 days.
About SAExploration
SAE is an international oilfield services company offering a full range of vertically-integrated seismic data acquisition and logistical support services throughout
Geospace Technologies is a global technology and instrumentation manufacturer specializing in vibration sensing and highly ruggedized products which serve energy, industrial, government and commercial customers worldwide. The Company’s products blend engineering expertise with advanced analytic software to optimize energy exploration, enhance national and homeland security, empower water utility and property managers, and streamline electronic printing solutions. With more than four decades of operational excellence, the Company’s more than 600 employees across the world are dedicated to engineering and technical quality. Geospace is traded on the
View source version on businesswire.com: https://www.businesswire.com/news/home/20240827567717/en/
Caroline Kempf, ckempf@geospace.com, 321.341.9305
Source: Geospace Technologies Corporation
FAQ
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