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News analysis

Geospace Technologies Awarded $5.7M Sensor Contract

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HOUSTON–(BUSINESS WIRE)–#energyexploration—Geospace Technologies Corporation (NASDAQ: GEOS) today announced a $5.7 million contract with an international seismic contractor to deliver a significant number of specialized geophones designed for vibration monitoring in rugged environments.

The geophones will be produced in the company’s manufacturing facilities with deliveries expected to begin in January 2024. The specialized geophones will be used in the customer’s proprietary system for an advanced marine sensing application.

“The quality of our geophone products has fostered long-term relationships with repeat customers as is the case here where our miniature, high-definition geophones are a critical component of a solution offered by a longtime customer,” said Walter R. Wheeler, President and CEO, Geospace Technologies.

About Geospace Technologies

Geospace principally designs and manufactures seismic instruments and equipment. We market our seismic products to the oil and gas industry to locate, characterize and monitor hydrocarbon-producing reservoirs. We also market our seismic products to other industries for vibration monitoring, border and perimeter security and various geotechnical applications. We design and manufacture other products of a non-seismic nature, including water meter products, imaging equipment, offshore cables, remote shutoff water valves and Internet of Things (IoT) platform and provide contract manufacturing services. Learn more at www.geospace.com.

Contacts

Caroline Kempf, ckempf@geospace.com, 321.341.9305

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