Hilco Industrial to Conduct Private Treaty Sale for Global Geophysical Services

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Bids on Unique Seismic Machinery and Equipment Assets due August 22

Missouri City, Texas – July 23,, 2014: Hilco Industrial LLC will conduct a private treaty sales process in Missouri City, Texas through August 22nd, 2014, to sell machinery and equipment no longer necessary in the continuing operations of Global Geophysical Services, Inc.

Full details of the sale, including bidding instructions (due by 5 PM CT, Aug. 22, 2014), can be found at www.hilcoind.com/GGS

Global Geophysical Services, Inc. provides an integrated suite of geoscience solutions to the international oil and gas industry including high-resolution Reservoir Grade™ seismic data acquisition, multi-client data products, micro seismic monitoring, seismic data processing, analysis, and interpretation services, and consulting.

Global entered the seismic industry in 2005, launching four seismic crews and staffing 250 full-time employees during the inaugural year of operation. Global now owns and operates one of the industry’s most comprehensive inventories of seismic equipment and employs many of the most dedicated seismic professionals in the business. On March 25, 2014, Global and certain of its subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas, Corpus Christi Division. Hilco is assisting Global in selling certain assets not necessary for its continuing operations or emergence from bankruptcy.

The specific equipment being offered though Hilco’s sales process will include:

  • (6) Marine Work Vessels previously used for Seismic Testing
  • (4) Reliance 41’ Modular Pontoon Boats previously used for Seismic Testing
  • (2) DeMaree 41’ Modular Pontoon Boats previously used for Seismic Testing
  • (4) NCA & (2) Price High-Pressure Marine Air Compressors
  • (5) Fabtek Prentice All-Terrain Skidder Vehicles w/ Drills, To 2006
  • (8) Marooka MST-600UD Track Drills
  • (25) Kubota RTV900 4WD Diesel ATVs – As New As 2011
  • Over (70) Service Trucks & Vehicles, To 2012, Including 4WD Pickups, Crew Cabs, Flatbeds, Passenger Vans, Mechanics Trucks, and Utility Trucks
  • Over (50) Trailers, To 2011, Including Enclosed Lab / Test Air Conditioned Trailers, Enclosed Utility Trailers, Open Flatbed Utility Trailers, Antenna Tower Trailers
  • Portable Generator Trailers
  • Sercel 408UL Channels – Total 7,250 Links w/ Support Equipment & Tools
  • Zupt B-PINS Navigation Survey Systems
  • Large Quantity of Marine & Land Seismic Support Equipment Including Guns, Connecting Cables, Reels, Hardware, etc.

Interested parties can Contact Jody Bacque (jbacque@hilcoglobal.com or 251 404-2367). Hilco will be accepting offers from interested parties until 5:00 PM CT on Friday August 22, 2014. More information about the machinery can be found at www.hilcoind.com/GGS.

About Hilco Industrial: Hilco Industrial LLC  provides industrial asset disposition services, specializing in machinery, equipment and inventory auctions and negotiated sales. It sells the broad range of industrial assets found in manufacturing, wholesale and distribution companies. Hilco Industrial performs dispositions through on-site, online and combination "webcast" auction sale events as well as negotiated (private treaty) sales. Hilco Industrial has capital to put at risk and often acquires assets or provides guarantees. It also provides asset disposition services on a fee or commission basis. Hilco Industrial is part of Hilco Global, the world’s leading authority on helping companies maximize the value of their assets delivering a complete suite of asset valuation, monetization and advisory services.

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