Burditt

Mitcham Industries has created a profitable niche within the growing 3-D seismic industry and is now one of the largest independent companies specializing in the short-term leasing of 3-D seismic equipment to the oil and gas industry. This technology provides accurate data available for identifying oil and gas deposits. Mitcham also sells used seismic equipment, often in the international marketplace. Its lease fleet consists primarily of 3-D seismic equipment. The obstacle is the considerable cost of acquiring the equipment needed to obtain 3-D data so that company eliminates this by leasing seismic equipment and offering maintenance and support to companies on a short-term basis. The company leases its seismic equipment primarily to seismic data acquisition companies and major oil and gas exploration companies conducting land-based seismic data acquisition surveys. The leases generally have terms between three and nine months and are renewable thereafter on a month-to-month basis. Mitcham Industries is headquartered in Huntsville, Texas.