logo
Share SHARE
FONT-SIZE Plus   Neg

Global Geophysical Services Announces Framework Agreement With Halliburton

Global Geophysical Services Inc. (GGS) announced that it has signed a framework agreement licensing to Halliburton (HAL) a substantial portion of GGS's expansive North America seismic data library for use in Halliburton's drilling and completions services activities.

As per the agreement, GGS will be given preference by Halliburton for seismic data acquisition globally in certain applications.

The company noted that the agreement will provide Halliburton with immediate rights to access more than 2 million acres of GGS reservoir grade 3D seismic data, and the option to acquire rights to an additional 2 million acres of reservoir grade 3D seismic GGS data, to enable unrivalled understanding of shale characteristics for both companies' customers.

GGS stated that it will expand its usage of Halliburton's Landmark software for GGS's data processing, analysis, interpretation and earth modeling business. This industry-leading exploration and production software, which includes SeisSpace, DecisionSpace Desktop and OpenWorks software, will provide a next-generation platform for GGS's proprietary consulting applications.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Ciena Corp., a provider of communications networking solutions, on Thursday reported a turnaround to profit in the fourth quarter on higher revenues and lower expenses. However results for the quarter missed analysts' estimates. Looking ahead, the company forecast revenue for the first quarter of fiscal 2017 in line with analysts' expectations. Wearable fitness device maker Fitbit Inc. said it has acquired the assets of struggling smartwatch startup Pebble, including key personnel and intellectual property related to software and firmware development. The acquisition excludes Pebble's hardware products. Financial terms of the deal were not disclosed. Starbucks is teaming up with Pokémon Go, a location based augmented reality game, to turn its stores into PokéStops and Gyms, reports said. Further, the coffee giant reportedly would open Italian bakeries that serve pizza, with the first store expected to open in late 2017.
comments powered by Disqus
Follow RTT