Global Microseismic Services, Inc. Acquires STRM LLC
HOUSTON, Feb. 7, 2011 (GLOBE NEWSWIRE) -- Global Geophysical Services, Inc. (NYSE:GGS) today announced that its wholly owned subsidiary Global Microseismic Services, Inc. ("GMS"), has acquired STRM LLC ("STRM"). Peter Geiser, a Founder and Principal Owner of STRM will join GMS as its Chief Technologist for Tomography-based Natural Fracture Imaging.
STRM technology, protected under two U.S patents, delivers detailed images of the fracture networks in reservoirs via tomographic analysis of energy emitted from subsurface activity such as hydraulic fracturing, oil and gas production or the natural background seismicity of the earth.
Christopher Usher, Global's CTO, commented: "The technology and IP that STRM brings to Global Microseismic Services allows us to provide a step change in frac monitoring and analysis. By providing clear images of fractured geology, we eclipse the industry's current standard of simply displaying dots in a box during frac monitoring."Peter Geiser, Founder of STRM, noted, "We have been validating this technology for many years, including analysis over unconventional resource plays. I am excited about this opportunity for the STRM Tomographic Fracture Imaging scans to be commercialized on a large-scale basis through Global Microseismic Services field-wide monitoring grids and high performance microseismic data processing solutions." Global will integrate the STRM team, IP and software technology within its GMS subsidiary, and will immediately offer the Tomographic Fracture Imaging analysis and interpretation solutions as a compliment to its current microseismic monitoring offerings. The transaction closed on February 1 st, 2011. About Global Geophysical Services, Inc. Global Geophysical Services, headquartered in Houston, TX, provides an integrated suite of seismic data solutions to the global oil and gas industry including high-resolution RG-3D Reservoir Grade™ seismic data acquisition, microseismic monitoring, seismic data processing and interpretation services, and Multi Client data products. Global Geophysical Services combines experience, innovation, operational safety and environmental responsibility with leading edge technology to facilitate the success of its clients by providing them the tools to Gain InSight. To learn more about Global Geophysical Services, visit www.GlobalGeophysical.com.
|The Global Geophysical Services, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7300|
CONTACT: Mathew Verghese Chief Financial Officer www.globalgeophysical.com 13927 South Gessner Road Missouri City, TX 77489 Phone: 713-808-1750 Fax: (713) 972-1008
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV