MIDLAND, Texas, Oct. 6 /PRNewswire/ -- Dawson Geophysical Company
(Nasdaq: DWSN) (the "Company"), announced today that it has placed
an order for 2,000 OYO GSR four channel boxes complete with three
component geophones from OYO Geospace. The Company expects to
take delivery of the OYO equipment during the Company's first
fiscal quarter of 2011, which ends December
31, 2010. The purchase price for the OYO equipment is
$6.1 million.
The addition of the new OYO GSR recording equipment will allow
the Company to record 12,000 channels of multi-component data or up
to 16,000 channels of conventional seismic data, either as a stand
alone system or as added channel count and increased flexibility
for the Company's existing ARAM recording systems.
The Company's board of directors has approved a $30,000,000 capital budget for fiscal 2011 to be
used, in part, to purchase the GSR Channels and 10 new AHV-IV
PLS364 vibrator energy source units from INOVA Geophysical
Equipment Limited. The remainder of the capital budget is
expected to be used to meet necessary capital maintenance
requirements during fiscal 2011.
About Dawson Geophysical Company
Dawson Geophysical Company is the leading provider of U.S.
onshore seismic data acquisition services as measured by the number
of active data acquisition crews. 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.
Forward-Looking Statements
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, delays, reductions or cancellations of service contracts,
high fixed costs of operations, weather interruptions, inability to
obtain land access rights of way, industry competition, limited
number of customers, credit risk related to our customers, asset
impairments, 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, 2009. 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
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