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Dawson Geophysical Company profile

About Dawson Geophysical Co

Dawson Geophysical Company is a provider of onshore seismic data acquisition services with operations throughout the continental United States and Canada. The Company acquires and processes two-dimensional (2-D), three-dimensional (3-D) and multi-component seismic data for its clients, ranging from oil and gas companies to independent oil and gas operators as well as providers of multi-client data libraries. It also provides data acquisition services primarily to providers of multi-client data libraries for use in the onshore drilling and production of oil and natural gas, as well as directly to onshore oil and natural gas exploration and development companies. It operates approximately 116 vibrator energy source units and 275,000 recording channels.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, Dawson Geophysical Co revenues decreased 71% to $24.7M. Net loss increased from $13.2M to $29.1M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Higher net loss reflects Other income (expense), net decrease from $501K (income) to $86K (expense), Interest income decrease of 45% to $220K (income).

Equity composition

Common Stock $.01 Par, 03/11, 25M auth., 19,242,251 issd., less 37,803 shs. in Treas. @ $257K. Insiders own 26.71%. 6/86, Co. formed as a spin off of ESI Industries 11/07, Company delisted from AMEX to NASDAQ.04/08, 5% stock dividend. 04/09, 5% stock dividend. 04/10, 5% stock dividend.04/12, 5% stock dividend.04/13 5% stock dividend.