MIDLAND, Texas, Oct. 11, 2013 /PRNewswire/ -- Dawson
Geophysical Company (NASDAQ:DWSN) today announced it has placed an
order with Geospace Technologies for 9,000 stations of its
three-channel GSX wireless recording system. The order includes
sensors, batteries, trailers and accompanying system electronics.
Delivery of the order is expected to occur in the Company's first
fiscal quarter of 2014 ending December 31,
2013.
Stephen Jumper, President and
Chief Executive Officer said, "With the addition of these 9,000
stations of three-channel GSX and the 1,000 stations acquired in
the fourth fiscal quarter of 2013, we will own 17,000 stations of
multi-channel GSR/GSX wireless equipment. As previously announced,
a portion of this equipment is anticipated to be deployed this
winter season in Canada for
several multi-channel projects, while the balance will remain in
the U.S. to be deployed on a large multi-channel project in late
fiscal first quarter 2014 and on subsequent microseismic
applications. It is anticipated that this purchase will represent
the largest item within our board-approved $35 million fiscal 2014 capital expenditure
budget. Capital expenditures for fiscal 2013 were approximately
$52 million."
About Dawson
Dawson Geophysical Company is a leading
provider of onshore seismic data acquisition services in the lower
48 states of the United States and
Canada. 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, dependence upon energy
industry spending, disruptions in the global economy, industry
competition, delays, reductions or cancellations of service
contracts, high fixed costs of operations, external factors
affecting our crews such as weather interruptions and inability to
obtain land access rights of way, whether we enter into turnkey or
term contracts, crew productivity, limited number of customers,
credit risk related to our customers, 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.
SOURCE Dawson Geophysical Company