Seismic Data Co. Global Geophysical Hits Ch. 11

Law360, New York (March 26, 2014, 4:56 PM EDT) -- Global Geophysical Services Inc., which provides seismic data to the oil and gas industry, and five U.S. affiliates sought Chapter 11 protection in Texas bankruptcy court Tuesday in the face of a cash crunch and more than $330 million in debt.

GGS enjoyed a strong 2013 and landed close to $80 million in new contracts in the first two months of 2014, but struggled with a liquidity crisis stemming from a confluence of issues including heavy debt service, upfront costs for the new jobs and an...
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