GEOS - Geospace Technologies awarded $7M in ocean bottom node rental contracts

Geospace Technologies (NASDAQ:GEOS) on Tuesday announced two contracts worth over $7M for the renting of its OBX series of ocean bottom nodes for both deepwater and shallow water marine seismic surveys. Tuesday's announcement comes just weeks after GEOS completed a $10M sale of OBX deepwater ocean bottom nodes to an international seismic contractor. The first contract is with an international marine geophysical services provider who will rent about 7.5K OBX-750E seabed ocean bottom wireless seismic data acquisition nodes. The second contract is with another international marine geophysical service provider who will rent 1.9K OBX2-90 and OBX2-125 nodes to conduct a seismic survey in the North Sea. GEOS stock +4.1% to $6.10 in aftermarket trading.

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Geospace Technologies awarded $7M in ocean bottom node rental contracts