Geospatial Corporation Provides Pipeline Data Collection and Mapping Solutions in Permian Basin of West Texas for Global Energy Company
Company Plans New Operations Hub in Midland
Pittsburgh Pennsylvania – July 10, 2018– Geospatial Corporation (OTCQB Symbol “GSPH”) has successfully completed the accurate 3D mapping of several newly installed pipelines in the Permian Basin of west Texas for a major global energy company. To better serve the demand for accurate and economical pipeline location and mapping, Geospatial is opening a permanent operations center in Midland, Texas to serve the central states region encompassing Texas, New Mexico, Colorado and Louisiana.
Mark Smith, CEO of Geospatial Corporation said, “Our data acquisition techniques and software are extremely accurate and economical. We provide data for our client’s systems of record that is traceable, verifiable and complete.”
The Permian Basin of West Texas
The Permian Basin of West Texas and southeast New Mexico is known as the most prolific oil and gas regions in the country and is bountiful with supplies. Operators like Pioneer Natural Resources (PXD), Chevron (CVX), ExxonMobil (XON), Apache (APA), Occidental Petroleum (OXY) and Concho Resources (CXO) have announced multi-billion dollar direct investments in the region to increase production. “According to a recent report in Seeking Alpha, there's just not enough space in existing pipelines currently for the gas that is being marketed.” Smith added, “As our clients invest in new pipeline infrastructure, it is an ideal time to gather accurate locational pipeline data.”
The need to manage our underground infrastructure is being driven by a multitude of timely factors. The oil and gas industry with new regulations is charged with knowing everything about their pipeline infrastructure from the wellhead to the home. These requirements encompass every part of the nation’s massive energy pipeline infrastructure from upstream, midstream and downstream.
About Geospatial Corporation
Geospatial Corporation delivers Locational 3D Data, Information Technology, Software and Program Management Services that provide a scalable solution to improve our clients’ ability to securely, accurately and economically map and manage our global underground infrastructure including energy pipelines, sewers, water lines, conduits, and cables.
Forward Looking Statements
This press release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1993 and Section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those laws. These forward-looking statements, if any, are based upon a number of assumptions and estimates that are subject to significant uncertainties that involve known and unknown risks, many of which are beyond our control and are not guarantees of future performance. Actual outcomes and results could materially differ from what is expressed, implied, or forecasted in any such forward-looking statements and any such difference may be caused by risk factors listed from time to time in the Company's news releases and/or its filings or as a result of other factors.
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