Completion of the LOI is subject to execution of a definitive purchase and sale agreement and the satisfaction of certain other conditions.
The acquisition results in converted wave imaging providers by combining GGS’ multi-component acquisition capabilities with Sensor’s multi-component processing toolkit.
GGS is engaged in developing its own next generation autonomous Autoseis nodal 3C and 4C systems. Sensor is a provider of 3C and 4C processing with their own software for advanced multi-component imaging.
Steve Weber, a Principal at Sensor, noted, the company will introduce its technology to the global customers through GGS’ expanding data processing network, and to introduce GGS’ HTI processing and microseismic fracture imaging toolkits to the Calgary marketplace.
GGS CEO Richard Degner said the company will employ Sensor’s multi-component processing on its new 3C datasets over the Eagle Ford and Bakken shales.
