logo
Share SHARE
FONT-SIZE Plus   Neg

Global Geophysical Services Announces Framework Agreement With Halliburton

Global Geophysical Services Inc. (GGS: Quote) announced that it has signed a framework agreement licensing to Halliburton (HAL: Quote) 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
Online retail giant Amazon.com Inc. (AMZN) is reportedly in talks to buy luxury online fashion retailer Net-a-Porter. The news of acquisition was first reported by Women's Wear Daily, which said the deal would be completed for about 2 billion euros, indicating the biggest acquisition yet by Amazon.... Tim Cook, the CEO of tech giant Apple Inc., in an interview said he intends to give away all his wealth to charity. Cook, in an interview to Fortune, said he plans to donate all his wealth to philanthropic projects after paying for his 10-year old nephew's college education. According to Fortune,... Is it a 'personal life crisis' that led the Germanwings' co-pilot Andreas Lubitz to deliberately lowering the plane carrying 149 people to French Alps mountain? Police is investigating to find evidences to prove this suggestion.
comments powered by Disqus
Follow RTT