Geospace Technologies (GEOS +2%) signs a $160M contract with Statoil (STO) to do seismic...

|About: Geospace Technologies Corpo... (GEOS)|By:, SA News Editor

Geospace Technologies (GEOS +2%) signs a $160M contract with Statoil (STO) to do seismic monitoring for the Snorre and Grane fields on the Norwegian continental shelf. The news was expected but “represents a positive as the award is a significant size,” analysts at Simmons & Co. say; shares are up nearly 70% YTD vs. ~30% for its peer group.