TGC Industries Announces Deployment of Additional Seismic Field Acquisition Crews in the U.S. and Canada
PLANO, Texas, Jan. 12, 2011 /PRNewswire/ -- TGC Industries, Inc. (Nasdaq: TGE) today announced that late in the fourth quarter it deployed its seventh seismic field acquisition crew in the U.S. and its third and fourth crews in Canada. The Company's backlog stood at $83 million at the end of 2010, up 32 percent from the $63 million disclosed during the third quarter conference call.
Wayne Whitener, President and CEO of TGC Industries, stated, "Based on the improvement in the North American land seismic acquisition market combined with our recent success in winning new projects and the ensuing increase in backlog, we have added new seismic field acquisition crews and equipped them with the latest state-of-the-art seismic equipment. We plan to have the crews fully operational by the middle of the current quarter. We are pleased to be able to respond to the growing needs of our expanding customer base, reflecting confidence and customer satisfaction in the performance of our products and services."
TGC Industries, Inc., based in Plano, Texas, is a leading provider of seismic data acquisition services with operations throughout the continental United States and Canada. The Company has branch offices in Houston, Midland, Oklahoma City and Calgary.
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on our current expectations and projections about future events. All statements other than statements of historical fact included in this press release regarding the Company are forward-looking statements. There can be no assurance that those expectations and projections will prove to be correct.
CONTACTS: |
Wayne Whitener |
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Chief Executive Officer |
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TGC Industries, Inc. |
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(972) 881-1099 |
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Jack Lascar / Karen Roan |
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DRG&L (713) 529-6600 |
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SOURCE TGC Industries, Inc.
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