Posted by Louise Kinnersley - GEOKINETICS INC.
HOUSTON, TX (23 November, 2016) – The Administración Nacional de Combustibles, Alcoholes y Portland (ANCAP) has authorized Geokinetics Inc. to acquire a 2,687 km regional Multi-Client 2D Survey in the Norte Basin, onshore Uruguay. The Norte Basin is the southern extension of the Paraná Basin of Brazil. The Devonian Cordobes Formation is interpreted to be the principal petroleum source rock in the Norte Basin together with other Paleozoic and Cretaceous units as possible reservoirs for gas and oil accumulations. The new regional survey will provide a better understanding of the basin.
“Geokinetics is pleased to play a part in providing new seismic data to help in the exploration for oil and gas resources onshore Uruguay,” said James Bogardus, Executive Vice-President, Processing, Reservoir and Multi-Client Services.
About Geokinetics Inc., www.geokinetics.com
Headquartered in Houston, Texas, Geokinetics is one of the world's largest independent land and shallow water geophysical companies. The company is an international seismic contractor that specializes in acquiring and processing seismic data from some of the toughest and challenging environments in the world. Geokinetics has expertise covering high land onshore through to 1,000 meters offshore operating capacity. With its worldwide operating experience, comprehensive global resources and in-depth capabilities, Geokinetics offers the most innovative, cost-effective and efficient acquisition and processing solutions. Geokinetics' expanding Multi-Client Survey Library consists of both 2D and 3D data, covering conventional and unconventional plays throughout key areas of interest around the world, specifically in North America, Brazil and Mexico.
All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include Geokinetics' reliance on a cyclical industry and principal customers, Geokinetics' ability to continue to expand markets for licensing of data, and Geokinetics' ability to acquire and process data product at costs commensurate with profitability. Actual results may differ materially from those expected or projected in the forward-looking statements. Geokinetics undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.
For more information contact:
1500 CityWest Blvd., Suite 800,
Houston, Texas 77042.
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