Geospace Technologies Closes $10M Sale of Deepwater Ocean Bottom Nodes

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Apr 05, 2022

Geospace+Technologies Corporation (NASDAQ: GEOS) today announced a $10M contract for the purchase of the Company’s OBX series of deepwater ocean bottom nodes from an international seismic contractor. The rental customer exercised an option in the Company’s rental agreement to purchase more than half of the nodes under this contract. The sale of the nodes occurred prior to the end of the Company’s second quarter of fiscal year 2022.