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March 28, 2015 9:58 PM ET

Energy Equipment and Services

Company Overview of Global Geophysical Services, LLC

Company Overview

Global Geophysical Services, LLC, together with its subsidiaries, provides seismic data solutions to the oil and gas industry. The company’s seismic data solutions primarily include seismic data acquisition, microseismic monitoring, data processing, and interpretation services, which deliver data that enables the creation of high resolution images of the earth’s subsurface, and reveal complex structural and stratigraphic details. It also provides seismic data recording equipment. The company offers seismic data acquisition for marshes, forests, jungles, arctic climates, mountains, and deserts. It serves oil and gas exploration and production companies comprising national oil companies, integ...

13927 South Gessner Road

Missouri City, TX 77489

United States

1,500 Employees

Phone:

713-972-9200

Fax:

713-972-1008

Key Executives for Global Geophysical Services, LLC

Chairman, Chief Executive Officer and President
Age: 58
Co-Founder and Senior Vice President of Geophysical Technology
Age: 52
Chief Financial Officer and Senior Vice President
Age: 46
Senior Vice President and General Counsel
Age: 65
Senior Vice President of North America
Age: 50
Compensation as of Fiscal Year 2014.

Global Geophysical Services, LLC Key Developments

Global Geophysical Services Files Form 15

Global Geophysical Services, Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock under the Securities Exchange Act of 1934, as amended.

Global Geophysical Services, Inc. Amends and Restates its Certificate of Incorporation

On February 6, 2015, Global Geophysical Services, Inc. amended and restated its Certificate of Incorporation by filing the Fourth Amended and Restated Certificate of Incorporation of the company with the Secretary of State of the State of Delaware and adopted amended and restated Bylaws of the company. The Amended Certificate makes certain technical revisions and, among other things, provides that: the company shall have authority to issue 1,000 shares of common stock, par value $0.01 per share; the company may not issue non-voting equity securities; the board of directors will be elected on an annual basis as a single class, which, as long as Global Geophysical Services, LLC, a Delaware limited liability company that will become the sole stockholder of the company in connection with the consummation of the Plan holds more than 50% of the company's outstanding common stock, shall be composed of the individuals comprising the board of managers of GGS Holdings; and the company, to the maximum extent permitted under applicable law, renounces any interest or expectancy in business opportunities presented to stockholders, their direct or indirect equity holders, or directors and acknowledges the rights of such individuals to have and make investments in and relationships with Competing Businesses (as defined in the Amended Certificate). The Amended Bylaws make certain technical revisions and, among other things, provides that: stockholders will have the ability to take any action by written consent, with certain limitations; the board of directors has the authority to delegate any of its powers to committees, established by resolutions adopted by the board, with certain exceptions; the transfer and issuance of, and payment for, stock of the company is subject to certain restrictions; any repeal or amendment of the provisions of the Bylaws relating to Indemnification will have prospective effect only; the rights afforded to indemnities pursuant to the provisions of the Bylaws relating to indemnification, among other things, shall be contractual rights; upon proper disclosure, contracts or other transactions between the company and its directors, officers or stockholders shall be valid; and certain matters and actions to be taken by the company or its stockholders, directors or officers shall be directed by GGS Holdings or shall require the written consent of GGS Holdings.

Global Geophysical Services, Inc. Announces Resignation of UHY LLP as Independent Registered Public Accounting Firm

UHY LLP served as the independent registered public accounting firm for Global Geophysical Services, Inc. to audit the financial statements and internal control over financial reporting of the company for the fiscal years ended December 31, 2013 and 2012. In connection with the sale of the Texas practice of UHY to BDO USA, LLP, by letter dated December 1, 2014, UHY informed the company that it was resigning as the company's independent registered public accounting firm, effective as of such date. The resignation of UHY was not recommended or approved by the Audit Committee or the Board of Directors of the company.

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