TGC Industries Announces Purchase of New Seismic Equipment
PLANO, Texas, Nov. 18, 2010 /PRNewswire/ -- TGC Industries, Inc. (Nasdaq: TGE) today announced that is has purchased and taken delivery of an additional 4,000 channels of ARAM ARIES seismic recording equipment. In addition, the Company has entered into a purchase agreement to acquire another 3,000 channel GSR wireless recording system for delivery in mid-December of this year.
Wayne Whitener, TGC Industries President and Chief Executive Officer, stated, "As we continue to optimize our crew productivity using the most up-to-date equipment and align our capacity with expected demand, we are purchasing additional channels of ARAM equipment and another GSR wireless system. The operational flexibility of the GSR wireless recording system will enhance our capabilities since it can operate in various types of environments and work either independently or integrated with our ARAM equipment. With this additional equipment, our total channel capacity will be approximately 77,000."
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. We undertake no obligation to publicly update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
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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