FairfieldNodal announced its acquisition of the Geokinetics, Inc. US multi-client data library.
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FairfieldNodal announced its acquisition of the Geokinetics, Inc. US multi-client data library. With this acquisition, FairfieldNodal nearly triples its North American multi-client library coverage from 3532 square miles in the Permian Basin to 10 460 square miles in key US basins, including Appalachian and Powder River basins.
This transaction continues FairfieldNodal’s aggressive growth plans through partnerships and M&A. FairfieldNodal is expanding its multi-client data library, data-processing services and capabilities, reservoir analytics, and integrated solutions in pursuit of its strategy to become a premium global provider of a wide range of life-of-field seismic services.
“The acquisition of the Geokinetics U.S. multi-client data library will accelerate our strategic growth. It is highly complementary to FairfieldNodal’s extensive US land library, will enhance our value proposition and provide the ability to capitalise on the strong synergies with our current Data Licensing business segment,” said Charles (Chuck) Davison, Jr., President and CEO of FairfieldNodal. “Geokinetics has built a high quality, strategically-positioned data library in major U.S. basins with robust activity and solid fundamentals. We will drive additional organic growth to provide our customers the highest quality data and flawless execution. FairfieldNodal will continue to aggressively execute its strategic agenda by strengthening the core business and expanding our market reach through M&A activities.”
Geokinetics is a Houston based company and a leading global provider of data acquisition and processing services on land and in the transition zone.