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Global Geophysical Services, Inc. And NuTech Energy Alliance Launch New Joint Product Offering: Basin Insight(TM) Eagle Ford

HOUSTON, March 8, 2011 (GLOBE NEWSWIRE) -- Global Geophysical Services, Inc. (NYSE:GGS) today announced that it has launched, in partnership with NuTech Energy Alliance, Ltd. (NuTech), a new multi client product offering that provides an integrated earth model for over 6 million acres of the Eagle Ford shale in Southwest Texas, built from multidisciplinary geosciences and engineering data spanning cores to well logs to seismic data. The product will provide unrivalled insight into the most prospective areas of this prolific shale play supporting local exploitation, regional understanding, leasehold acquisition and M&A.

GGS is a leading provider of geosciences solutions with a multi-million acre Eagle Ford seismic data library, and has an unconventional resources consulting practice and a microseismic frac monitoring service. NuTech has a multi-million well database, access to calibrating cores, geomodeling capabilities, and a range of petrophysical and frac modeling services. Together, the two companies offer a complementary set of geoscience and engineering competencies, and range of non-exclusive data, that uniquely enable the creation of an integrated Basin InSight TM product for Eagle Ford shale operators. 

Richard Degner, Global's CEO, commented, "We have been pleased with customer response to our expansive reservoir grade 3D seismic coverage of the Eagle Ford, and the range of analysis products we have developed on this library, such as our FracFacture product which segregates brittle from ductile trends in the shale. We are now delighted to take our offerings a major step closer to the customer's ultimate needs, by providing a seismic-guided and log calibrated earth model over the bulk of the basin."

Allen Howard, CEO of NuTech, noted, "We have been providing geomodels to our customers for years, as a foundation for providing petrophysical analysis and frac modeling on a proprietary basis. For this, we have acquired a vast library of public wells, which have been processed for both consistency and the extrapolation of key petrophysical parameters. For the first time, we have found a partner that completely complements our work, by providing the detailed information we lacked in between our well locations, and covering the same vast areas of the basin. No one has built an integrated earth model of this scale, for the shale plays, before."

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