Geospace Technologies Corp. is selling its OBX-750E seabed ocean bottom wireless seismic data acquisition nodes to international marine geophysical services provider SAExploration, the company said in an Aug. 27 press release.
The contract has an estimated value of $10.5 million based on current contract terms, Geospace said in the announcement.
SAExploration exercised its purchase option from an existing rental contract to make the purchase.
Geospace also signed a 240-day rental contract with a geophysical solution provider for the OBX-750E, shallow water seabed wireless seismic data acquisition nodes, the company announced in a separate statement.
The minimum value of the agreement is $11.9 million and delivery of the OBX nodes will occur in fourth quarter 2024.
Geospace Technologies is a manufacturer of marine seismic systems and offers ocean-bottom wireless seismic data acquisition node systems, permanent reservoir monitoring systems and marine streamer accessories. Its Aquanaut product offers extended-duration ocean bottom seismic data acquisition in depths of over 3,048 m with up to 200 days of recording capability. The Mariner does the same thing in shallow depths of up to 750 m and can record for up to 70 days.
Headquartered in Houston, SAExploration offers vertically-integrated seismic data acquisition and logistical support services to its customers across the globe, including North and South America, Asia, Africa and the Middle East.