QUOTE AND NEWS
DailyFinance  Mar 28  Comment 
NEW YORK, NY -- (Marketwired) -- 03/28/14 -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of Texas on behalf of investors who purchased Global Geophysical...
DailyFinance  Mar 26  Comment 
NEW YORK, NY -- (Marketwired) -- 03/26/14 -- The Rosen Law Firm issues this update on the class action against Global Geophysical Services, Inc. (NYSE: GGS) (NYSE: GGS-PA) filed on behalf of purchasers of the Company's common stock during the...
StreetInsider.com  Mar 26  Comment 
Global Geophysical Services, Inc. (NYSE: GGS) 63% LOWER; announced it and certain of its domestic subsidiaries have filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern...
StreetInsider.com  Mar 26  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Corporate+News/Global+Geophysical+Services+%28GGS%29+Drops+65%25+After+Co.+Files+Chapter+11/9317503.html for the full story.
OilVoice  Mar 26  Comment 
Global Geophysical Services Inc a provider of seismic data to oil and gas companies filed for bankruptcy due to heavy debt and said it was seeking court approval for 60 million in debtorinpossess
DailyFinance  Mar 25  Comment 
Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the Southern District of Texas on behalf of all purchasers of the securities of Global ...
DailyFinance  Mar 24  Comment 
The law firm of Wohl & Fruchter LLP has filed a class action lawsuit against Global Geophysical Services, Inc. (GGS) (NYSE: GGS) and certain of its officers. The class action, filed on March 21, 2014, in the United States...
TheStreet.com  Mar 18  Comment 
Update (4:10 p.m.): Updated with one-year low and Tuesday market close information. NEW YORK (TheStreet) -- Global Geophysical Services  plunged more than 60% to a one-year low of 45 cents on Tuesday after the company stated some of its past...
StreetInsider.com  Mar 18  Comment 
Global Geophysical Services, Inc. (NYSE: GGS) 58.5% LOWER; announced that, upon the recommendation of management and after consultation with its independent registered public accounting firm, UHY LLP, the Company's Audit Committee and Board of...
Benzinga  Mar 18  Comment 
Castlight Health (NYSE: CSLT) shares fell 5.37% to reach a new 52-week low of $35.25. Castlight Health's trailing-twelve-month ROE is -72.68%. Global Geophysical Services (NYSE: GGS) shares fell 51.18% to touch a new 52-week low of $0.57 after...




 
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Global Geophysical Services (GGS) (NYSE:GGS) provides seismic data for oil and gas exploration companies. Its services provides a high resolution images of the earth's service. These images are used to find land suitable for gathering hydrocarbons, reduce risk with oil and gas exploration, design drilling programs, and other activities. Some of its major customers are Oil and Natural Gas Corporation Limited, BP, ConocoPhillips, and other major corporations. Global Geophysical Services currently owns or have longterm leases on 151,000 recording channels. [1]

The demand for new energy resources combined with the difficulty of finding the energy resources increases the demand for services such as Global Geophysical Services provides. According to International Energy Agency, worldwide oil demand is expected to grow about 24% from 2008 to 2030. Therefore, new oil reserves need to be found to not only replace the old oil reserves, but to meet this demand. The seismic images the company provides assists the process. [1]

The company's initial public offering of stock filed on the NYSE exchange on 16 October 2009. The proposed offer price range is $15.00-$17.00. The company is offering 11.5 million shares and raising $184 million. [1]

For FY2009 with year-ended 31 December 2009, the company reported $312.8 million in total revenue, down 16.9% from $376.2 million in total revenue for FY2008. Furthermore, the company had a net income of $445,000 in FY2009, an increase from a net loss of $8 million in FY2008. [1]

References

  1. 1.0 1.1 1.2 1.3 Global Geophysical Services S-1/A
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