OMNI bags seismic drilling contract in Marcellus Shale

Published Oct 22, 2009
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Omni signs letter of intent to acquire assets of Bailey Operating, Inc.

OMNI Energy Services Corp. has been awarded a contract with a leading seismic data acquisition company to perform a major seismic drilling project in the Marcellus Shale geographic region. The contract is expected to generate approximately $4 million in revenue. OMNI anticipates the contract will commence during the first quarter of 2010.

Through its Seismic Services business segment, OMNI believes it is one of the premier seismic drilling contractors in the Gulf Coast region, and has been active in sizable transition zone and highland drilling projects, including the Barnett, Woodford, Fayetteville and Haynesville shale plays. The Marcellus contract will represent OMNI's entry into the prolific Marcellus Shale geographic region, and is expected to involve approximately 200 square miles of diversified terrain.

OMNI President and Chief Executive Officer Brian J. Recatto commented, "This award is evidence that OMNI's solid reputation in the industry gives us the traction to expand the business into new geographic regions. We are pleased to be able to bring our expertise, experience and innovation into the rapidly growing Marcellus marketplace, starting with our seismic drilling capabilities. Beyond this initial success, we are continuing to aggressively market all of our services to capture additional strategic growth opportunities in the region; we believe this contract has the potential to be the first of many opportunities for us."

Tags: Omni Energy Services Corp.


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