Finding Petroleum - Sercel acquires assets of Geophysical Research Company

Join | Existing Member Login

You are Home » News » View Article

Sercel acquires assets of Geophysical Research Company

Thursday, January 19, 2012 in Exploration / Seismic

Seismic equipment manufacturer Sercel has acquired the assets of Tulsa company "Geophysical Research Company" (GRC), a provider of downhole sensors and gauges.

GRC was established in 1925 by Amerada Petroleum Corporation. It has around 120 employees and 2011 revenues expected to be around $22m.

GRC makes memory gauges, devices which record downhole pressures and temperatures for later download when the tool assembly is retrieved to surface.

The acquisition follows a decision at Sercel to diversify into the well environment and artificial lift market, which, it believes, shows "promising growth".

'We are truly excited about being a part of Sercel," says Bob Laird, CEO of GRC.

"We clearly share common core values and the vision of providing our customers with advanced technology and value added solutions to optimize and extend the economic life of their oil and gas producing assets.

"This acquisition offers GRC leverage in strengthening and expanding our global presence, operational efficiency and technology offering. GRC's management team will continue in place with Sercel.'

Associated Companies
» Sercel