PLANO, Texas, Aug. 8, 2014 /PRNewswire/ -- TGC Industries,
Inc. (NASDAQ: TGE) ("TGC") today announced that it has purchased
10,500 channels of Hawk® autonomous nodal system,
along with all peripheral equipment, from INOVA Geophysical.
Wayne Whitener, TGC Industries'
President and Chief Executive Officer, stated, "In response to the
increasing demand by our North American customers for wireless
recording channels, particularly on large high-density seismic
surveys, we are purchasing this additional wireless equipment to
complement our existing fleet of wireless channels. We expect
to take delivery of this equipment and have it deployed in the
field by the middle of September.
"We are pleased to be able to respond to the needs of our
customer base and believe this additional equipment will further
strengthen our position within the industry in fielding the latest
state-of-the art equipment. Taking into account the delivery
of these additional channels, our total channel count will be
approximately 145,000, of which about 80,000 are wireless."
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 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. We
use words such as "may," "can," "could," "should," "expect,"
"anticipate," "estimate," "indicate," "believe," "target,"
"continue," "plan" and "budget" to identify forward-looking
statements. There can be no assurance that those expectations
and projections will prove to be correct. Important factors
that could cause actual results to differ materially from such
expectations and projections are disclosed in the Company's
Securities and Exchange Commission filings, and include, but are
not limited to, the ability of suppliers to timely deliver
equipment, the dependence upon energy industry spending for seismic
services, the unpredictable nature of forecasting weather, the
potential for contract delay or cancellation, economic conditions
and the potential for fluctuations in oil and gas prices. We
undertake no obligation to publicly update or revise these
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
CONTACTS:
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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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Dennard ▪ Lascar
Associates
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(713)
529-6600
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SOURCE TGC Industries, Inc.