Scandoil  

Pulse Seismic signs $5.1 million 3D seismic data licence


Published Jun 12, 2015
Pulse Seismic Inc.

Pulse Seismic Inc. has signed a $5.1 million seismic data licensing agreement, resulting in total seismic data library sales of $6.2 million so far for the second quarter of 2015. The sale brings year-to-date seismic data library sales to $7.5 million.

'This significant sale makes Pulse's year-to-date data library sales revenue sufficient to cover the Company's cash operating and interest costs for the full year,' stated Neal Coleman, Pulse's President and CEO. 'Although low commodity prices have reduced traditional seismic data library sales, we are pleased to see corporate transactions in the oil and gas producing sector which are leading to significant transactional data library sales revenue.'

The agreement announced today is a transactional seismic data licensing sale. The licensed data is spread throughout the Deep Basin region of the Western Canada Sedimentary Basin. As discussed in Pulse's annual report for the year ended December 31, 2014, transactional sales are forming an increasing proportion of the Company's overall revenue, with traditional sales having declined due to reduced field capital spending by oil and natural gas producers.

Tags: Pulse Seismic Inc.




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml