Geospace signs $3M mariner rental agreement

Geospace Technologies announced a rental contract with Walker Marine Geophysical, a high resolution land and marine seismographic surveyor provider who will rent 3,000 of the new product, Mariner, shallow water seabed wireless seismic data acquisition nodes. Based on current contract terms, the minimum value of the agreement is $3.2M. The delivery of Mariners will occur in Geospace’s third quarter of fiscal year 2024. “We appreciate longtime customers such as Walker Marine who continue to recognize the value of gathering high quality data for their customers,” said Walter R. Wheeler, President and CEO, Geospace Technologies. “In today’s competitive ocean bottom node market, companies with staying power are choosing to protect their reputation and future business by selecting top quality seismic survey tools like Mariner. By including valuable features such as our internal heading sensor and built-in full resolution test generator, we ensure our customers deliver high quality results to their customers.”