Wilks Brothers to Acquire Midland, Texas-based Dawson Geophysical

Midland, Texas-based Dawson Geophysical agreed to sell itself to Wilks Brothers citing waning demand for its onshore seismic data acquisition services in both Canada and the Lower 48.

Wilks Brothers to Acquire Midland, Texas-based Dawson Geophysical

For over six decades, Dawson Geophysical has served as a leading provider of North American onshore seismic data acquisition services with operations throughout the continental U.S. and Canada. (Source: Dawson Geophysical Co.)

Dawson Geophysical Co. agreed to sell itself to Wilks Brothers LLC on Oct. 25 citing waning demand for its services.

“Given the limited trading liquidity in our stock, this transaction offers our shareholders compelling value for their shares and the ability to most efficiently realize that value,” Stephen C. Jumper, Dawson’s president and CEO, commented in a release from the Midland, Texas-based company.

“It also provides Dawson with financial flexibility otherwise not available in the challenging environment in which the company is currently operating,” he added.

Already have an account? Log In

Sign up for FREE access to view this article now!

Unlock Free Access

Emily Patsy

Emily Patsy is the senior managing editor for Hart Energy’s Digital News Group. She's responsible for the daily news flow and also manages the A&D Watch and Energy Pulse weekly newsletters.