TGC to Buy New Vibrator Vehicles, Rig Equipment
TGC Industries, Inc. on Monday said that it has entered into purchase agreements to acquire six new vibrator vehicles for delivery in the first quarter of 2007 and two new shot-hole drill rigs for delivery in the second quarter. Currently, TGC has 42 vibrator vehicles and nine shot-hole drill rigs operating as energy sources.
Wayne Whitener, President and CEO of TGC Industries, stated, "Due to continued strong demand for our 3-D land seismic surveys, we deployed our eighth seismic field acquisition crew during the fourth quarter of 2006 and continue to invest in new equipment to maintain productive and efficient crews to meet our customers' needs. In May of 2006, we acquired the assets of Highland Industry for our shot-hole contract business, and this is our first purchase of new shot-hole equipment since that acquisition."
TGC Industries, Inc., based in Plano, Texas, with branch offices in Houston and Oklahoma City, is one of the leading providers of seismic data acquisition services throughout the continental United States.