Mitcham Industries Renews Sercel Agreement
Date: January 01, 2005
Mitcham Industries Inc. (NASDAQ:MIND - News) announced today that on January 10th it renewed its Equipment Lease Agreement with Sercel Inc. (Sercel) for two years. The agreement provides that Mitcham Industries will continue to be Sercel"s exclusive third-party leasing representative for land-based seismic equipment and non-exclusive leasing representative with respect to certain marine seismic equipment.
Commenting on the agreement, Billy F. Mitcham Jr., president and CEO of Mitcham Industries, stated, "We are pleased to have extended our equipment lease agreement with Sercel for an additional two years and to have added both state-of-the-art Sercel systems and certain marine products to our lease pool."
Sercel Inc. is part of the Sercel group, the leader in seismic equipment. Sercel is wholly-owned by Compagnie Generale de Geophysique.
Mitcham Industries Inc., a geophysical equipment supplier, offers for lease or sale, new and "experienced" seismic equipment to the oil and gas industry, seismic contractors, environmental agencies, government agencies and universities. Headquartered in Texas, with sales and services offices in Calgary, Canada, Brisbane, Australia and associates throughout Europe, South America and Asia, Mitcham Industries conducts operations on a global scale and is the largest independent seismic equipment lessor in the industry.