10-Q

UNITED STATES

  SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 10-Q

[x]           QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF

THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2013

[  ]           TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number 001-34709

GLOBAL GEOPHYSICAL SERVICES, INC.

(Name of registrant as specified in its charter)

DELAWARE	05-0574281
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
13927 South Gessner Road Missouri City, Texas	77489
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code:  (713) 972-9200

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes    [x]                   No   [  ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes    [x]                  No   [  ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See definition of “accelerated filer”, “large accelerated filer”, and “smaller reporting company” in Rule 12b-2 of the Exchange Act.  (check one):

Large accelerated filer [  ] Accelerated filer [x] Non-accelerated filer [  ] Smaller reporting company[  ]

Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Exchange Act).

Yes    [  ]                  No   [x]

At August 12, 2013, there were 38,090,479 shares of common stock, par value $0.01 per share, outstanding.

GLOBAL GEOPHYSICAL SERVICES, INC.

Table of Contents

PART I.  FINANCIAL INFORMATION
Item 1.  Financial Statements	1
Consolidated Balance Sheets as of  June 30, 2013 (Unaudited) and  December 31, 2012	1
Consolidated Statements of Operations for the Three Months and Six Months Ended June 30, 2013 and 2012 (Unaudited)	3
Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2013 and 2012 (Unaudited)	4
Consolidated Statements of Stockholders’ Equity (Unaudited)	5
Notes to Consolidated Financial Statements	6
Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations	22
Item 3.  Quantitative and Qualitative Disclosure About Market Risk	32
Item 4.  Controls and Procedures	32
PART II.  OTHER INFORMATION
Item 1.  Legal Proceedings	33
Item 1A.  Risk Factors	33
Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds	33
Item 3.  Defaults Upon Senior Securities	33
Item 4.  Mine Safety Disclosures	33
Item 5.  Other Information	33
Item 6.  Exhibits	34
Signatures	35

GLOBAL GEOPHYSICAL SERVICES, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In thousands)

	June 30, 2013		December 31, 2012
	(unaudited)
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	10,681	$	23,359
Restricted cash investments		1,440		1,830
Accounts receivable, net		43,153		51,766
Inventory		5,025		11,864
Income and other taxes receivable		815		1,472
Prepaid expenses and other current assets		28,644		21,480
TOTAL CURRENT ASSETS		89,758		111,771
MULTI-CLIENT LIBRARY, net		291,005		309,067
PROPERTY AND EQUIPMENT, net		91,502		100,172
GOODWILL		12,381		12,381
INTANGIBLE ASSETS, net		11,745		13,083
OTHER ASSETS		6,061		6,401
TOTAL ASSETS	$	502,452	$	552,875

See accompanying notes to consolidated financial statements.

1

GLOBAL GEOPHYSICAL SERVICES, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS (CONTINUED)

(In thousands, except par value and share amounts)

	June 30, 2013			December 31, 2012
	(unaudited)
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable and accrued expenses	$	37,609		$	42,597
Current portion of long-term debt		92,431			22,970
Current portion of capital lease obligations		4,410			5,639
Income and other taxes payable		2,491			3,563
Deferred revenue		13,111			22,498
Other payables		1,666			3,059
TOTAL CURRENT LIABILITIES		151,718			100,326
DEFERRED INCOME TAXES, net		17,396			27,073
LONG-TERM DEBT, net of current portion and unamortized discount		244,191			311,250
CAPITAL LEASE OBLIGATIONS, net of current portion		3,494			4,176
NON-CONTROLLING INTERESTS		758			997
OTHER LIABILITIES		958			1,505
TOTAL LIABILITIES		418,515			445,327
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY
Common stock, $0.01 par value, 100.0 million shares authorized, 48.2 million shares and 47.6 million shares issued and 38.1 million shares and 37.6 million shares outstanding at June 30, 2013 and December 31, 2012, respectively		482			476
Additional paid-in capital		257,128			253,415
Accumulated deficit		(77,143	)		(49,815	)
		180,467			204,076
Less: treasury stock, at cost, 10.1 million shares and 10.0 million shares at June 30, 2013 and December 31, 2012, respectively		96,530			96,528
TOTAL STOCKHOLDERS’ EQUITY		83,937			107,548
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	502,452		$	552,875

See accompanying notes to consolidated financial statements.

2

GLOBAL GEOPHYSICAL SERVICES, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)

	Three Month Period Ended June 30,						Six Month Period Ended June 30,
	2013			2012			2013			2012
	(unaudited)						(unaudited)
REVENUES	$	63,352		$	97,372		$	146,761		$	193,483
OPERATING EXPENSES		55,298			71,975			127,668			132,668
GROSS PROFIT		8,054			25,397			19,093			60,815
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES		20,609			12,086			36,649			27,626
INCOME (LOSS) FROM OPERATIONS		(12,555	)		13,311			(17,556	)		33,189
OTHER INCOME (EXPENSE)
Interest expense, net		(8,430	)		(7,934	)		(16,799	)		(15,049	)
Foreign exchange gain (loss)		(133	)		(939	)		44			(1,049	)
Other expense, net		(185	)		(236	)		(228	)		(420	)
TOTAL OTHER EXPENSE		(8,748	)		(9,109	)		(16,983	)		(16,518	)
INCOME (LOSS) BEFORE INCOME TAXES		(21,303	)		4,202			(34,539	)		16,671
INCOME TAX EXPENSE (BENEFIT)		(5,402	)		1,706			(6,972	)		7,455
INCOME (LOSS) AFTER INCOME TAXES		(15,901	)		2,496			(27,567	)		9,216
NET LOSS, attributable to non-controlling interests		(115	)		(50	)		(239	)		(260	)
NET INCOME (LOSS), attributable to common shareholders	$	(15,786	)	$	2,546		$	(27,328	)	$	9,476
INCOME (LOSS) PER COMMON SHARE
Basic	$	(0.42	)	$	0.07		$	(0.72	)	$	0.26
Diluted	$	(0.42	)	$	0.07		$	(0.72	)	$	0.26
WEIGHTED AVERAGE SHARES OUTSTANDING
Basic		37,985			37,247			37,871			37,143
Diluted		37,985			37,247			37,871			37,143

See accompanying notes to consolidated financial statements.

3

GLOBAL GEOPHYSICAL SERVICES, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

	Six Month Period Ended June 30,
	2013			2012
	(unaudited)
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss), attributable to common shareholders	$	(27,328	)	$	9,476
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation (net) and amortization expense		89,511			63,158
Non-cash revenue from Multi-client data exchange		-			(4,442	)
Deferred tax expense (benefit)		(9,677	)		3,344
Gain on sale of assets		(2,925	)		(9,881	)
Other		4,502			3,586
Effects of changes in operating assets and liabilities
Accounts receivable, net		8,613			10,020
Inventory		(1,731	)		-
Prepaid expenses and other current assets		(5,564	)		(2,234	)
Accounts payable and accrued expenses		(4,988	)		(14,458	)
Deferred revenue		(9,387	)		(1,105	)
Other		(865	)		2,352
NET CASH PROVIDED BY OPERATING ACTIVITIES		40,161			59,816
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment		(6,559	)		(18,949	)
Investment in Multi-client library		(51,355	)		(79,770	)
Investment in unconsolidated affiliate		(250	)		(500	)
Change in restricted cash investments		390			2,818
Purchase of intangibles		(1,637	)		(2,849	)
Proceeds from involuntary conversion of assets		2,100			-
Proceeds from sale of assets		4,599			14,107
NET CASH USED IN INVESTING ACTIVITIES		(52,712	)		(85,143	)
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from long-term debt		906			49,280
Net proceeds from (payments on) revolving credit facility		855			(16,940	)
Debt issuance costs		(250	)		(1,364	)
Proceeds from sale and leaseback transaction		1,940			-
Principal payments on capital lease obligations		(3,911	)		(3,665	)
Purchase of treasury stock		(2	)		(1	)
Issuances of stock		335			432
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES		(127	)		27,742
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(12,678	)		2,415
CASH AND CASH EQUIVALENTS, beginning of period		23,359			21,525
CASH AND CASH EQUIVALENTS, end of period	$	10,681		$	23,940

See accompanying notes to consolidated financial statements.

4

GLOBAL GEOPHYSICAL SERVICES, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(In thousands, unaudited)

	Common Stock		Additional Paid-in Capital		Treasury Stock			Accumulated Deficit			Total Stockholders' Equity
Balances at January 1, 2013	$	476	$	253,415	$	(96,528	)	$	(49,815	)	$	107,548
Issuance of common stock		6		327		-			-			333
Compensation expense associated with stock grants		-		3,386		-			-			3,386
Purchase of treasury stock		-		-		(2	)		-			(2	)
Net loss		-		-		-			(27,328	)		(27,328	)
Balances at June 30, 2013	$	482	$	257,128	$	(96,530	)	$	(77,143	)	$	83,937

See accompanying notes to consolidated financial statements.

5

GLOBAL GEOPHYSICAL SERVICES, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1 - BASIS OF PRESENTATION

The accompanying consolidated financial statements include the accounts of Global Geophysical Services, Inc. and its controlled subsidiaries (collectively, the “Company” unless the context otherwise requires). All significant intercompany accounts and transactions have been eliminated in consolidation.

The Company provides an integrated suite of seismic data solutions to the global oil and gas industry.

The consolidated financial statements of the Company as of and for the three and six months ended June 30, 2013 are unaudited and have been prepared on the same basis as the audited consolidated financial statements as of and for the year ended December 31, 2012. In the opinion of management, the accompanying unaudited financial information includes all adjustments necessary for a fair presentation of the interim financial information. Operating results for the interim periods are not necessarily indicative of the results of any subsequent periods. Certain information in the footnote disclosures normally included in annual consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) has been condensed or omitted for the interim periods presented under the United States Securities and Exchange Commission (“SEC”) rules and regulations. As such, these interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. Certain amounts in the 2012 consolidated financial statements have been reclassified to conform to the classifications in the 2013 consolidated financial statements.

NOTE 2 - SELECTED BALANCE SHEET ACCOUNTS

Prepaid expenses and other current assets included the following (in thousands):

	June 30, 2013		December 31, 2012
	(unaudited)
Assets held for sale	$	4,268	$	4,878
Prepaid expenses		3,798		1,181
Mobilization costs, net		4,830		998
Note receivable, current portion		806		1,750
Insurance proceeds receivable		2,269		-
Current deferred tax asset		12,673		12,673
Total prepaid expenses and other current assets	$	28,644	$	21,480

Other current assets included certain property and equipment which was identified as held for sale. The Company classifies assets as held for sale and ceases the depreciation and amortization of the assets when there is a plan for disposal of the assets and those assets meet the held for sale criteria as defined in FASB ASC 360 “Plant, Property and Equipment”. These assets were recorded at the lower of their carrying value or their fair value based on current market conditions.

Accounts receivable, net included the following (in thousands):

	June 30, 2013			December 31, 2012
	(unaudited)
Accounts receivable, trade	$	22,226		$	38,511
Unbilled		25,067			16,321
Allowance for doubtful accounts		(4,140	)		(3,066	)
Accounts receivable, net	$	43,153		$	51,766

The Company occasionally experiences disagreements or disputes with customers relating to amounts charged by the Company. When management determines that amounts relating to such disputes are uncollectable, a charge to bad debt expense is recorded in the period such a determination is made. Bad debt expense, net of recovery for the three months ended June 30, 2013 and 2012 was $0.1 million and zero, respectively, and $1.1 million and $2.9 million for the six months ended June 30, 2013 and 2012, respectively.

6

Other assets included the following (in thousands):

	June 30, 2013		December 31, 2012
	(unaudited)
Debt issuance costs, net	$	5,224	$	5,689
Investment in unconsolidated affiliate		463		441
Other		374		271
Total other assets	$	6,061	$	6,401

NOTE 3 - INVENTORY

The Company identifies certain recording systems produced or held for sale as inventory. Inventory consists primarily of finished products. Inventory is stated at the lower of cost or net realizable value. Cost of inventory is determined by using the first-in, first-out method. The Company periodically reviews its inventory and makes provisions for damaged, missing or obsolete inventory.

NOTE 4 - MULTI-CLIENT LIBRARY

Multi-client library included the following (in thousands):

	June 30, 2013		December 31, 2012
	(unaudited)
Multi-client library, at cost	$	709,423	$	655,477
Less: accumulated Multi-client library amortization		418,418		346,410
Multi-client library, net	$	291,005	$	309,067

Multi-client library amortization expense for the three months ended June 30, 2013 and 2012 was $24.4 million and $25.8 million, respectively, and $72.0 million and $48.1 million for the six months ended June 30, 2013 and 2012, respectively.

The Company entered into a strategic License and Marketing Agreement dated as of March 28, 2013 (“the Agreement”) with SEI-GPI JV LLC, a limited liability company jointly owned by Seismic Exchange, Inc. and Geophysical Pursuit, Inc., hereinafter referred to as “SEI/GPI”. Under the terms of the Agreement, SEI/GPI, as licensee, will provide exclusive marketing services for a substantial portion of the Company’s North American onshore data library. The Agreement provided for a $25.0 million non-refundable license fee payable upon execution of the Agreement. For the three and six months ended June 30, 2013, the Company recorded late sale revenues of $1.0 million and $24.3 million, respectively, representing the portion of the license fee related to completed library assets. The remaining $0.7 million, representing the uncompleted portion of ongoing surveys, is recorded as deferred revenue and will be recognized in accordance with the Company’s proportionate performance revenue recognition policy. SEI/GPI receives, as compensation for marketing the data, a commission on all gross revenues resulting from the sub-licensing of the data subject to the Agreement. Revenues for sub-licenses issued by SEI/GPI as licensee pursuant to the Agreement are accounted for at gross, with the commission being recorded and classified as Selling, General and Administrative expense in the Company’s Consolidated Statements of Operations. For the three and six months ended June 30, 2013, the Company recorded $5.9 million of commission expense.

In connection with the Agreement, the Company evaluated certain Multi-client surveys for impairment. The impairment test compared the future cash flows from the surveys to their carrying value. If estimated future net cash flows exceeded the carrying value of the Multi-client asset, no impairment was required. If the carrying value exceeded estimated future net cash flows, the estimated future net cash flows were discounted to determine the survey’s estimated fair value. The variance between the discounted estimates of future net cash flows and the carrying value of respective Multi-client survey was recorded as impairment and the Multi-client survey’s carrying value was correspondingly reduced. For the three and six months ended June 30, 2013, the Company recorded an impairment charge of zero and $13.0 million, respectively, classified in the Consolidated Statements of Operations as Multi-client library amortization expense.

For the six months ended June 30, 2013, the Company recorded $13.8 million of amortization expense related to the $24.3 million of late sale revenues.

7

NOTE 5 - PROPERTY AND EQUIPMENT

Property and equipment, net included the following (in thousands): 

	June 30, 2013		December 31, 2012
	(unaudited)
Machinery and equipment	$	302,195	$	308,039
Computers and software		19,658		19,661
Buildings		13,601		13,601
Boats		7,634		7,634
Land		2,157		2,157
Furniture and fixtures		103		103
		345,348		351,195
Less: accumulated depreciation		266,220		258,248
		79,128		92,947
Construction in process		12,374		7,225
Property and equipment, net	$	91,502	$	100,172

In May 2013, a fire destroyed a warehouse in Colombia that contained Company equipment with a net book value of approximately $4.4 million. The equipment destroyed in the fire was insured and the Company expects to recover, at a minimum, the net book value of the equipment lost in the fire. As of June 30, 2013, the Company received a partial settlement for the loss of $2.1 million and recorded a receivable of $2.3 million from its insurance carriers as a component of prepaid expenses and other current assets in the Consolidated Balance Sheet. Subsequent to June 30, 2013, the Company collected $0.9 million of the insurance receivable.

The following table provides an analysis of depreciation expense (in thousands):

	Three Month Period Ended June 30,				Six Month Period Ended June 30,
	2013		2012		2013		2012
	(unaudited)				(unaudited)
Gross depreciation expense	$	9,454	$	9,519	$	18,486	$	19,584
Less: capitalized depreciation for Multi-client library		895		3,117		2,591		6,076
Depreciation (net)	$	8,559	$	6,402	$	15,895	$	13,508

NOTE 6 - GOODWILL AND OTHER INTANGIBLES

Goodwill and other intangibles included the following (in thousands):

	June 30, 2013		December 31, 2012
	(unaudited)
Customer list	$	3,984	$	3,984
Trademark		1,759		1,759
Patents		3,913		3,913
Non-compete agreements		1,057		1,057
Intellectual property		9,154		8,883
		19,867		19,596
Less: accumulated amortization		8,122		6,513
Total intangible assets, net		11,745		13,083
Goodwill		12,381		12,381
Total goodwill and other intangibles, net	$	24,126	$	25,464

8

Intangible assets subject to amortization are amortized on a straight-line basis over their estimated useful lives, which are between two and fifteen years. Amortization expense for the three months ended June 30, 2013 and 2012 was $0.8 million and $0.8 million, respectively, and $1.6 million and $1.5 million for the six months ended June 30, 2013 and 2012, respectively. For the three months ended June 30, 2013 and 2012, the Company capitalized $0.2 million and $0.3 million, respectively, of development costs related to internal use software as a component of intellectual property. For the six months ended June 30, 2013 and 2012, the Company capitalized $0.3 million and $1.4 million, respectively, of development costs related to internal use software as a component of intellectual property.

NOTE 7 - INCOME TAXES

The Company provides for income taxes during interim periods based on an estimate of the effective tax rate for the year.  Discrete items and changes in the estimate of the annual effective tax rate are recorded in the period in which they occur.

The Company assesses the likelihood that deferred tax assets will be recovered from the existing deferred tax liabilities or future taxable income in each jurisdiction. To the extent the Company believes that recovery will not meet the more likely than not threshold, it establishes a valuation allowance. The Company has recorded valuation allowances in several non-US jurisdictions for its net deferred tax assets since management believes it is more likely than not that these assets will not be realized because the future taxable income necessary to utilize these losses cannot be established or projected or the Company no longer has activities in these jurisdictions.

The effective income tax rate for the three months ended June 30, 2013 and 2012 was 25.4% and 40.6%, respectively. The effective income tax rate for the six months ended June 30, 2013 and 2012 was 20.2% and 44.7%, respectively. The Company’s effective income tax rate in 2013 and 2012 differs from the federal statutory rate primarily due to state income taxes, non-deductible expenses, foreign tax credit limitations, tax rate differential from non-US activities, and valuation allowances related to non-US jurisdictions.

NOTE 8 - LONG-TERM DEBT

Long-term debt included the following (in thousands):

	June 30, 2013		December 31, 2012
	(unaudited)
Senior notes	$	250,000	$	250,000
Revolving credit facility		79,915		79,060
Promissory notes		10,781		11,204
Notes payable - insurance		2,135		806
		342,831		341,070
Less: unamortized discount		6,209		6,850
		336,622		334,220
Less:  current portion		92,431		22,970
Long-term debt, net of current portion and unamortized discount	$	244,191	$	311,250

9

Senior Notes: On April 27, 2010, the Company issued $200.0 million aggregate principal amount of its 10.5% senior notes due 2017 (the “Notes”) pursuant to exemptions from registration under the Securities Act of 1933. The Company’s net proceeds from the offering were approximately $188.1 million after deducting the initial purchasers’ discounts, offering expenses and original issue discount.

The Notes represent general unsecured, senior obligations of the Company and are unconditionally guaranteed as to principal, premium, if any, and interest by the Company’s domestic subsidiaries (the “Guarantors”) on a senior unsecured basis.

The Company used the proceeds from the offering and sale of the Notes to repay outstanding indebtedness and used the remaining proceeds for capital expenditures and for general corporate purposes.

The Notes were issued under an Indenture with The Bank of New York Mellon Trust Company, N.A., (the “Trustee”).

On March 28, 2012, the Company issued an additional $50.0 million aggregate principal amount of its 10.5% senior notes due 2017 pursuant to exemptions from registration under the Securities Act of 1933. The net proceeds to the Company from the issuance were approximately $47.0 million after deducting the initial purchasers’ discounts, offering expenses and original issue discount. On September 28, 2012, the Company issued $50.0 million in aggregate principal amount of its 10.5% senior notes due 2017 that were registered under the Securities Act of 1933 (the “New Notes”) in exchange for an identical amount of the unregistered notes issued on March 28, 2012.

The New Notes represent general unsecured, senior obligations of the Company. The New Notes are unconditionally guaranteed as to principal, premium, if any, and interest by the Guarantors on a senior unsecured basis.

The Company used the proceeds from the offering and sale of the New Notes to repay outstanding indebtedness under its existing Revolving Credit Facility.

The New Notes are covered under the terms of an Indenture dated March 28, 2012. The Notes and the New Notes are hereinafter collectively referred to as the “Senior Notes”. The following is a brief summary of the material terms and conditions of the Senior Notes’ Indentures.

Interest — The Senior Notes bear interest at a rate of 10.5% per annum and interest is paid semi-annually, in arrears, on May 1 and November 1 of each year.

Principal and Maturity — The Senior Notes were issued with a $250.0 million aggregate principal amount and will mature on May 1, 2017.

Optional Redemption by the Company — On or after May 1, 2014, the Company may redeem the Senior Notes at the following percentages of the original principal amount: (i) 105.250% from May 1, 2014 to April 30, 2015; (ii) 102.625% from May 1, 2015 to April 30, 2016; and (iii) 100% from May 1, 2016 and thereafter.

Repurchase Obligations by the Company — Upon a change of control of the Company (as defined in the Indentures), each holder of the Senior Notes may require the Company to purchase their Senior Notes at a price equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of repurchase.

Restrictive Covenants — The Indentures relating to the Senior Notes contain restrictive covenants that limit, among other things, certain restricted payments in respect of the Company’s equity interests and any subordinated debt, dividend restrictions affecting subsidiaries, incurrence of additional indebtedness and issuances of disqualified stock, certain asset sales and mergers with other entities, and certain liens (other than permitted liens).

Events of Default — The Indentures for the Senior Notes also contain events of default including, but not limited to, the following: (i) nonpayment; (ii) defaults in certain other indebtedness of the Company or the Guarantors; and (iii) the failure of the Company or the Guarantors to comply with their respective covenants in the event of a mandatory redemption, optional redemption, option to repurchase, or a merger, consolidation or sale of assets. Upon an event of default, the holders of the Senior Notes or the Trustee may declare the Senior Notes due and immediately payable. As of June 30, 2013, the Company was in compliance with all respective Indenture covenants.

10

Debt Issuance Costs: Costs related to the issuance of debt are capitalized and amortized as a component of interest expense using the effective interest method over the maturity period of the related debt. Accumulated amortization was $2.8 million and $2.0 million at June 30, 2013 and December 31, 2012, respectively.

Bank of America Revolving Credit Facility: On April 30, 2010, the Company entered into a revolving credit facility under the terms of a Credit Agreement (the “Revolving Credit Facility”) with Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer, and each lender from time to time party thereto. The Revolving Credit Facility provided for borrowings of up to $50.0 million with a maturity date of April 30, 2013. On June 9, 2011, the Company amended the Revolving Credit Facility to provide for borrowings of up to $70.0 million under substantially similar terms. The loans under the Revolving Credit Facility bear interest at a rate equal to LIBOR plus the Applicable Rate or the Base Rate plus the Applicable Rate. The Base Rate is defined as the higher of (x) the prime rate or (y) the Federal Funds rate plus 0.50%. The Applicable Rate is defined as a percentage determined in accordance with a pricing grid based upon the Company’s leverage ratio, that will decline from LIBOR plus 4.00% or the prime rate plus 3.00% to a minimum rate equal to LIBOR plus 3.50% or the prime rate plus 2.50%. The Company may prepay borrowings under the Revolving Credit Facility at any time without penalty or premium, subject to reimbursement of the lenders’ breakage and redeployment costs in the case of prepayment of LIBOR borrowings. The Company also pays a commitment fee of 0.75% per annum on the actual daily unused portions of the Revolving Credit Facility.

The Company’s Revolving Credit Facility is secured by a first priority lien on substantially all of the Company’s assets, the assets of the Company’s non-foreign subsidiaries, the stock of the Company’s non-foreign subsidiaries and 66% of the stock of certain of the Company’s foreign subsidiaries. In addition, the Company’s non-foreign subsidiaries guarantee the Company’s obligations under the Revolving Credit Facility.

The terms of the Revolving Credit Facility limit the Company’s ability and the ability of certain of the Company’s subsidiaries to, among other things: incur or guarantee additional indebtedness; grant additional liens on the Company’s assets; make certain investments or certain acquisitions of substantially all or a portion of another entity’s business or assets; merge with another entity or dispose of the Company’s assets; pay dividends; enter into transactions with affiliates; engage in other lines of business and repurchase stock.

Additionally, the Revolving Credit Facility requires that the Company maintain certain ratios of total senior, secured debt to consolidated EBITDA (as defined therein), and of consolidated EBITDA to consolidated interest. The Revolving Credit Facility includes customary provisions with respect to events of default. Upon the occurrence and continuation of an event of default under the Revolving Credit Facility, the lenders have the right to, among other things, terminate their revolving loan commitments, accelerate the repayment of the loans outstanding and declare the same to be immediately due and payable. As of June 30, 2013, the Company was in compliance with all respective Revolving Credit Facility covenants.

On July 20, 2012, the Company further amended the Revolving Credit Facility (the “Third Amendment”), with Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer, Credit Suisse AG, Cayman Islands Branch, as Syndication Agent and a Lender, Barclays Bank PLC, and Citibank, N.A (collectively, the “Lenders” and individually, a “Lender”). Under the Third Amendment, the maximum amount of permitted borrowings under the Revolving Credit Facility was increased to $85.0 million until the initial Maturity Date of April 30, 2013, at which point the maximum amount of permitted borrowings was reduced to $67.5 million and the Maturity Date of the Revolving Credit Facility was extended to April 30, 2014 (the “Extended Maturity Date”). Under the Third Amendment, the Company, as Borrower, has the right to request an increase in lending commitments by an additional $10.0 million subject to the requirements of the Revolving Credit Facility until the Extended Maturity Date.

On April 24, 2013, the Company entered into the fourth amendment (the “Fourth Amendment”) to the Company’s Revolving Credit Facility with Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer, Barclays Bank PLC, and Citibank, N.A. The Company has requested and certain of the Lenders have agreed to assume a portion of certain expiring commitments and extend such Lenders’ respective Commitments and/or the expiration thereof on the terms and conditions set forth in the Amendment. Under the Fourth Amendment, the permitted borrowings under the Revolving Credit Facility was reduced to $80.0 million until the initial Maturity Date of September 30, 2013, at which point the maximum permitted borrowings under the Revolving Credit Facility is reduced to $67.5 million through the Maturity Date of the Revolving Credit Facility on April 30, 2014. As of June 30, 2013, borrowings outstanding under the Revolving Credit Facility aggregated $79.9 million. The Company currently intends to refinance the Revolving Credit Facility prior to its maturity. The Company may also fund the scheduled reduction in commitments under the Revolving Credit Facility through cash generated from operations.

11

Promissory Notes: From time to time, the Company issues short term promissory notes to various foreign financial institutions to finance equipment purchases and working capital needs for foreign operations.  The balance outstanding under these promissory notes as of June 30, 2013 and December 31, 2012 was $10.2 million and $10.4 million, respectively, at weighted average interest rates of 9.3% and 9.1%, respectively.

In January 2011, the Company issued a non-interest bearing promissory note related to the acquisition of STRM LLC. The balance outstanding under the promissory note as of June 30, 2013 and December 31, 2012 was $0.6 million and $0.8 million, respectively.

Notes Payable - Insurance: In exchange for insurance services provided, the Company from time to time issues negotiable promissory notes. The balance outstanding under these promissory notes as of June 30, 2013 and December 31, 2012 was $2.1 million and $0.8 million, respectively, at weighted average interest rates of 3.4% and 3.4%, respectively.

Letter of Credit Facility:  In February 2007, the Company entered into a $10.0 million revolving line of credit which was secured by restricted cash.  The terms of the letter of credit facility as currently written only allow for letters of credit to be drawn on the available credit; however, the cash balance in excess of the total outstanding letters of credit may be withdrawn by the Company at any time.  As of June 30, 2013 and December 31, 2012, the letters of credit outstanding were $1.4 million and $1.8 million, respectively.

NOTE 9 – CAPITAL LEASE

From time to time, the Company enters into leases and sale and leaseback transactions to acquire certain seismic equipment, computer equipment and vehicles that are accounted for as capital leases. The balance outstanding under these capital leases as of June 30, 2013 and December 31, 2012 was $7.9 million and $9.8 million, respectively, at weighted average interest rates of 5.7% and 5.3%, respectively.

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NOTE 10 – FAIR VALUE OF FINANCIAL INSTRUMENTS

The Company follows ASU 2011-04 “Fair Value Measurement” as it relates to financial assets and financial liabilities, which defines fair value, establishes a framework for measuring fair value under GAAP and expands disclosures about fair value measurements.  The provisions of this standard apply to other accounting pronouncements that require or permit fair value measurements.

This guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.   Hierarchical levels, as defined in this guidance and directly related to the amount of subjectivity associated with the inputs to fair valuations of these assets and liabilities are as follows:

Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Level 3 – Inputs that are both significant to the fair value measurement and unobservable.

The reported fair values for financial instruments that use Level 2 and Level 3 inputs to determine fair value are based on a variety of factors and assumptions. Accordingly, certain fair values may not represent actual values of the financial instruments that could have been realized as of June 30, 2013 or that will be realized in the future and do not include expenses that could be incurred in an actual sale or settlement.

In the normal course of operations, the Company is exposed to market risks arising from adverse changes in interest rates.  Market risk is defined for these purposes as the potential for change in the fair value of debt instruments resulting from an adverse movement in interest rates.

The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and current debt approximate their fair value due to the short maturity of those instruments, and therefore, have been excluded from the table below.  The fair value of the Notes is determined by multiplying the principal amount by their market price.  The following table sets forth the level 1 fair value of the Company’s financial assets and liabilities as of June 30, 2013 and December 31, 2012 (in thousands):

	June 30, 2013				December 31, 2012
	(unaudited)
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
$200.0 million senior notes	$	196,194	$	174,000	$	195,801	$	178,000
$50.0 million senior notes	$	47,597	$	43,500	$	47,349	$	44,500

The Company is not a party to any hedge arrangements, commodity swap agreements or other derivative financial instruments.

The Company utilizes foreign subsidiaries and branches to conduct operations outside of the United States. These operations expose the Company to market risks from changes in foreign exchange rates.

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NOTE 11 - STOCK-BASED COMPENSATION

The Company follows ASC 718 “Compensation – Stock Compensation” for share-based payments which requires all stock-based payments, including stock options, to be recognized as an operating expense over the vesting period, based on their grant date fair values.

In July 2006, the Company’s board of directors and stockholders adopted the Global Geophysical Services, Inc. 2006 Incentive Compensation Plan (the “2006 Incentive Plan”).  The 2006 Incentive Plan provides for a variety of incentive awards, including nonstatutory stock options, incentive stock options within the meaning of Section 422 of the Internal Revenue Code, stock appreciation rights, restricted stock awards, restricted stock unit awards, performance-based awards, and other stock-based awards.  A total of 9,203,058 shares of common stock are reserved for issuance under the 2006 Incentive Plan.  

Stock Options:  The Company estimates the fair value of each stock option on the date of grant using the Black-Scholes-Merton valuation model.  The volatility is based on expected volatility over the expected life of eighty-four months.  As the Company has not historically declared dividends, the dividend yield used in the calculation is zero. Actual value realized, if any, is dependent on the future performance of the Company’s common stock and overall stock market conditions.  There can be no assurance the value realized by an optionee will be at or near the value estimated by the Black-Scholes-Merton model.

The Company did not grant any stock options during the six months ended June 30, 2012. The following assumptions were used for the six month period ended June 30, 2013:

	Six Month Period Ended June 30, 2013
Risk-free interest rate		1.19	%
Expected lives (in years)		7
Expected dividend yield		0.00	%
Expected volatility		78.76	%

The computation of expected volatility during the six months ended June 30, 2013 was based on historical volatility. Historical volatility was calculated from historical data for the time approximately equal to the expected term of the option award starting from the grant date. The risk-free interest rate assumption is based upon the U.S. Treasury yield curve in effect at the time of grant for the period corresponding with the expected life of the option.

Option activity for the six months ended June 30, 2013 is summarized as follows:

	Number of Optioned Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term in Years		Weighted Average Optioned Grant Date Fair Value
Balance as of December 31, 2012		1,893,200		$	22.87			$	5.30
Expired		-			-				-
Granted		1,000,000			3.51				3.51
Exercised		-			-				-
Forfeited		(272,200	)		22.80				5.81
Balance at June 30, 2013		2,621,000		$	15.49		5.06	$	4.56
Exercisable as of June 30, 2013		1,505,075		$	22.61		5.04	$	4.97

Through June 30, 2013, a total of 5,830,400 options have been granted and 3,209,400 have been forfeited.

Compensation expense associated with stock options for the three months ended June 30, 2013 and 2012 was $0.5 million and $0.3 million, respectively, and $0.8 million and $0.7 million for the six months ended June 30, 2013 and 2012, respectively, and was included in Selling, General and Administrative expenses in the Consolidated Statements of Operations. At June 30, 2013 and 2012, the Company had 1,115,925 and 412,250 of non-vested stock option awards, respectively. The total cost of non-vested stock option awards which the Company had not yet recognized at June 30, 2013 and 2012 was $3.0 million and $2.1 million, respectively.  Such amount at June 30, 2013 is expected to be recognized approximately over a period of four years.

14

Restricted Stock:  To encourage retention and performance, the Company granted certain employees and consultants restricted shares of common stock with a fair value per share determined by multiplying the stock price on the date of the award by the number of shares awarded. Restricted stock activity for the six months ended June 30, 2013 is summarized as follows:

	Number of Nonvested Restricted Share Awards			Weighted Average Grant Date Fair Value
Balance as of December 31, 2012		976,976		$	6.72
Granted		490,147			3.45
Vested		(165,255	)		11.20
Forfeited		(185,321	)		9.60
Balance at June 30, 2013		1,116,547		$	4.14

Compensation expense associated with restricted stock for the three months ended June 30, 2013 and 2012 was $0.9 million and $1.2 million, respectively, and $2.6 million and $2.3 million for the six months ended June 30, 2013 and 2012, respectively, and was included in Selling, General and Administrative expenses in the Consolidated Statements of Operations. The total cost of non-vested stock awards which the Company has not yet recognized at June 30, 2013 and 2012 was approximately $4.8 million and $7.4 million, respectively. This amount is expected to be recognized over the next three years.

Employee Stock Purchase Plan: The Company maintains an Employee Stock Purchase Plan (“ESPP”), under which employees can choose to have a portion of their earnings withheld, subject to certain restrictions, to purchase the Company's common stock. The purchase price of the stock is 85% of the lower of the stock price at the beginning or end of the plan period at three-month intervals. The expense related to the ESPP for the three and six months ended June 30, 2013 and 2012 was immaterial to the consolidated financial statements. 

NOTE 12 - EARNINGS (LOSS) PER SHARE

The Company follows ASC 260 “Earnings Per Share” for share-based payments which are considered as participating securities. All share-based payment awards that contained non-forfeitable rights to dividends, whether paid or unpaid, were designated as participating securities and included in the computation of earnings per share (“EPS”).

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data):

	Three Month Period Ended June 30,					Six Month Period Ended June 30,
	2013			2012		2013			2012
	(unaudited)					(unaudited)
Net income (loss), attributable to common shareholders	$	(15,786	)	$	2,546	$	(27,328	)	$	9,476
Basic weighted average shares outstanding		37,985			37,247		37,871			37,143
Diluted
Shares issuable from the assumed conversion of stock options		-			-		-			-
Total		37,985			37,247		37,871			37,143
Basic income (loss) per share	$	(0.42	)	$	0.07	$	(0.72	)	$	0.26
Diluted income (loss) per share	$	(0.42	)	$	0.07	$	(0.72	)	$	0.26

As of June 30, 2013 and 2012, 2,621,000 and 2,116,400 out-of-the-money stock options have been excluded from diluted earnings per share because they are considered anti-dilutive.

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NOTE 13 - SUPPLEMENTAL CASH FLOW INFORMATION

The following provides supplemental cash flow information (in thousands):

	Six Month Period Ended June 30,
	2013		2012
	(unaudited)
Interest paid	$	15,567	$	13,475
Income taxes paid	$	2,689	$	3,249

The following provides supplemental disclosure of non-cash investing and financing activities (in thousands):

	Six Month Period Ended June 30,
	2013		2012
	(unaudited)
Property and equipment additions transferred from inventory	$	8,571	$	-
Property and equipment disposal recoverable through insurance proceeds	$	2,269	$	-
Property and equipment additions financed through capital leases	$	-	$	1,202
Non-cash Multi-client data swap asset recorded as deferred revenue	$	-	$	146
Original issue discount on notes payable	$	-	$	3,000
Non-cash property and equipment additions associated with swap of property and equipment	$	-	$	7,500
Non-cash property and equipment additions associated with data swap	$	-	$	1,751
Purchase price not paid at close of acquisition	$	-	$	2,993

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NOTE 14 – SEGMENT INFORMATION

In accordance with the way management views the business, the Company has two reportable segments: Proprietary Services and Multi-client Services.

The following table sets forth significant information concerning the Company’s reportable segments as of and for the three and six months ended June 30, 2013 and 2012 (in thousands):

	As of and for the Three Month Period Ended June 30, 2013 (Unaudited)
	Proprietary Services			Multi-Client Services		Corporate			Total
Revenues	$	26,774		$	36,578	$	-		$	63,352
Segment income (loss) before taxes	$	(9,760	)	$	5,223	$	(16,766	)	$	(21,303	)
Segment assets	$	30,778		$	311,153	$	160,521		$	502,452

	As of and for the Three Month Period Ended June 30, 2012 (Unaudited)
	Proprietary Services		Multi-Client Services		Corporate			Total
Revenues	$	58,578	$	38,794	$	-		$	97,372
Segment income (loss) before taxes	$	4,719	$	7,851	$	(8,368	)	$	4,202
Segment assets	$	54,078	$	299,731	$	184,560		$	538,369

	As of and for the Six Month Period Ended June 30, 2013 (Unaudited)
	Proprietary Services			Multi-Client Services		Corporate			Total
Revenues	$	54,210		$	92,551	$	-		$	146,761
Segment income (loss) before taxes	$	(15,188	)	$	5,065	$	(24,416	)	$	(34,539	)
Segment assets	$	30,778		$	311,153	$	160,521		$	502,452

	As of and for the Six Month Period Ended June 30, 2012 (Unaudited)
	Proprietary Services		Multi-Client Services		Corporate			Total
Revenues	$	123,413	$	70,070	$	-		$	193,483
Segment income (loss) before taxes	$	17,629	$	12,826	$	(13,784	)	$	16,671
Segment assets	$	54,078	$	299,731	$	184,560		$	538,369

NOTE 15 – RECENTLY ISSUED ACCOUNTING STANDARDS

During the six months ended June 30, 2013, there were no newly issued accounting standards that could have a material impact on the Company’s consolidated financial position, results of operations, or cash flows. Please refer to the discussion of recently issued accounting standards included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012.

NOTE 16 – GUARANTEES OF REGISTERED SECURITIES

The Senior Notes are fully and unconditionally guaranteed, on a joint and several basis, by all subsidiaries of the Company organized in the United States. The non-guarantor subsidiaries are comprised of all subsidiaries organized outside of the United States.

Separate condensed consolidating financial statement information for the guarantor subsidiaries and non-guarantor subsidiaries as of June 30, 2013 and December 31, 2012 and for the three and six months ended June 30, 2013 and 2012 is as follows (in thousands):

17

	As of June 30, 2013 (Unaudited)
	Guarantors		Non-guarantors			Eliminations			Consolidated
BALANCE SHEET
ASSETS
Current assets	$	137,377	$	15,697		$	(63,316	)	$	89,758
Multi-client library, net		289,663		1,342			-			291,005
Property and equipment, net		89,499		2,003			-			91,502
Investment in subsidiaries		1		-			(1	)		-
Intercompany accounts		15,191		(15,191	)		-			-
Other non-current assets		29,958		229			-			30,187
TOTAL ASSETS	$	561,689	$	4,080		$	(63,317	)	$	502,452
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities	$	151,299	$	63,735		$	(63,316	)	$	151,718
Long-term debt and capital lease obligations, net of current portion and unamortized discount		247,685		-			-			247,685
Deferred income tax and other non-current liabilities		19,112		-			-			19,112
TOTAL LIABILITIES		418,096		63,735			(63,316	)		418,515
Stockholders' equity		143,593		(59,655	)		(1	)		83,937
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	561,689	$	4,080		$	(63,317	)	$	502,452

	As of December 31, 2012
	Guarantors		Non-guarantors			Eliminations			Consolidated
BALANCE SHEET
ASSETS
Current assets	$	150,864	$	21,761		$	(60,854	)	$	111,771
Multi-client library, net		309,031		36			-			309,067
Property and equipment, net		97,129		3,043			-			100,172
Investment in subsidiaries		1		-			(1	)		-
Intercompany accounts		20,589		(20,589	)		-			-
Other non-current assets		31,728		137			-			31,865
TOTAL ASSETS	$	609,342	$	4,388		$	(60,855	)	$	552,875
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities	$	102,568	$	58,612		$	(60,854	)	$	100,326
Long-term debt and capital lease obligations, net of current portion and unamortized discount		315,426		-			-			315,426
Deferred income tax and other non-current liabilities		29,575		-			-			29,575
TOTAL LIABILITIES		447,569		58,612			(60,854	)		445,327
Stockholders' equity		161,773		(54,224	)		(1	)		107,548
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	609,342	$	4,388		$	(60,855	)	$	552,875

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	Three Month Period Ended June 30, 2013 (Unaudited)
	Guarantors			Non-guarantors			Eliminations			Consolidated
STATEMENTS OF OPERATIONS
Revenues	$	49,965		$	15,075		$	(1,688	)	$	63,352
Operating expenses		44,065			12,770			(1,537	)		55,298
Selling, general and administrative expenses		17,393			3,367			(151	)		20,609
Loss from operations		(11,493	)		(1,062	)		-			(12,555	)
Interest expense, net		(8,387	)		(43	)		-			(8,430	)
Other income (expense), net		44			(362	)		-			(318	)
Loss before income taxes		(19,836	)		(1,467	)		-			(21,303	)
Income tax expense (benefit)		(5,966	)		564			-			(5,402	)
Loss after income taxes		(13,870	)		(2,031	)		-			(15,901	)
Net loss, attributable to noncontrolling interests		(115	)		-			-			(115	)
Net loss, attributable to common shareholders	$	(13,755	)	$	(2,031	)	$	-		$	(15,786	)

	Three Month Period Ended June 30, 2012 (Unaudited)
	Guarantors			Non-guarantors			Eliminations			Consolidated
STATEMENTS OF OPERATIONS
Revenues	$	59,787		$	40,667		$	(3,082	)	$	97,372
Operating expenses		41,181			33,568			(2,774	)		71,975
Selling, general and administrative expenses		7,669			4,725			(308	)		12,086
Income from operations		10,937			2,374			-			13,311
Interest income (expense), net		(7,935	)		1			-			(7,934	)
Other income (expense), net		817			(1,992	)		-			(1,175	)
Income before income taxes		3,819			383			-			4,202
Income tax expense		995			711			-			1,706
Income (loss) after income taxes		2,824			(328	)		-			2,496
Net loss, attributable to noncontrolling interests		(50	)		-			-			(50	)
Net income (loss), attributable to common shareholders	$	2,874		$	(328	)	$	-		$	2,546

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	Six Month Period Ended June 30, 2013 (Unaudited)
	Guarantors			Non-guarantors			Eliminations			Consolidated
STATEMENTS OF OPERATIONS
Revenues	$	126,323		$	23,465		$	(3,027	)	$	146,761
Operating expenses		109,785			20,564			(2,681	)		127,668
Selling, general and administrative expenses		30,296			6,699			(346	)		36,649
Loss from operations		(13,758	)		(3,798	)		-			(17,556	)
Interest expense, net		(16,648	)		(151	)		-			(16,799	)
Other income (expense), net		72			(256	)		-			(184	)
Loss before income taxes		(30,334	)		(4,205	)		-			(34,539	)
Income tax expense (benefit)		(8,198	)		1,226			-			(6,972	)
Loss after income taxes		(22,136	)		(5,431	)		-			(27,567	)
Net loss, attributable to noncontrolling interests		(239	)		-			-			(239	)
Net loss, attributable to common shareholders	$	(21,897	)	$	(5,431	)	$	-		$	(27,328	)

	Six Month Period EndedJune 30, 2012 (Unaudited)
	Guarantors			Non-guarantors			Eliminations			Consolidated
STATEMENTS OF OPERATIONS
Revenues	$	120,790		$	78,792		$	(6,099	)	$	193,483
Operating expenses		67,807			70,270			(5,409	)		132,668
Selling, general and administrative expenses		14,917			13,399			(690	)		27,626
Income (loss) from operations		38,066			(4,877	)		-			33,189
Interest income (expense), net		(15,052	)		3			-			(15,049	)
Other income (expense), net		390			(1,859	)		-			(1,469	)
Income (loss) before income taxes		23,404			(6,733	)		-			16,671
Income tax expense		5,320			2,135			-			7,455
Income (loss) after income taxes		18,084			(8,868	)		-			9,216
Net loss, attributable to noncontrolling interests		(260	)		-			-			(260	)
Net income (loss), attributable to common shareholders	$	18,344		$	(8,868	)	$	-		$	9,476

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	Six Month Period Ended June 30, 2013 (Unaudited)
	Guarantors			Non-guarantors			Eliminations		Consolidated
STATEMENTS OF CASH FLOWS
Net cash provided by (used in) operating activities	$	42,338		$	(2,177	)	$	-	$	40,161
Net cash used in investing activities		(50,652	)		(2,060	)		-		(52,712	)
Net cash provided by (used in) financing activities		(706	)		579			-		(127	)
Net decrease in cash and cash equivalents	$	(9,020	)	$	(3,658	)	$	-	$	(12,678	)

	Six Month Period EndedJune 30, 2012 (Unaudited)
	Guarantors			Non-guarantors			Eliminations		Consolidated
STATEMENTS OF CASH FLOWS
Net cash provided by operating activities	$	59,328		$	488		$	-	$	59,816
Net cash used in investing activities		(85,057	)		(86	)		-		(85,143	)
Net cash provided by (used in) financing activities		28,983			(1,241	)		-		27,742
Net increase (decrease) in cash and cash equivalents	$	3,254		$	(839	)	$	-	$	2,415

NOTE 17 - SUBSEQUENT EVENTS

The Company evaluates events and transactions that occur after the balance sheet date but before the consolidated financial statements are issued. The Company evaluated such events and transactions through the date the consolidated financial statements were filed electronically with the Securities and Exchange Commission.

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Item 2.   Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis should be read in combination with our Interim Financial Statements and related notes contained in this Quarterly Report on Form 10-Q and our Financial Statements and related notes contained in our Annual Report on Form 10-K for the year ended December 31, 2012 (Commission file number: 001-34709).

Forward Looking Statements

Statements, other than statements of historical fact included in this Quarterly Report on Form 10-Q that relate to forecasts, estimates or other expectations regarding future events regarding technological advancements and our financial position, business strategy and plans and objectives of our management for future operations, may be deemed to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. In some cases, forward-looking statements can be identified by terminology such as “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “pursue,” “target,” “continue,” the negative of such terms or other comparable terminology.

Forward-looking statements include, but are not limited to, statements about business outlook for the year, backlog and bid activity, business strategy, and related financial performance and statements with respect to future events.  Such forward-looking statements are based on certain assumptions made by the Company based on management’s experience and perception of historical trends, industry conditions, market position, future operations, profitability, liquidity, backlog, capital resources and other information currently available to management and believed to be appropriate. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to, the volatility of oil and natural gas prices, disruptions in the global economy, dependence upon energy industry spending, delays, reductions or cancellations of service contracts, high fixed costs of operations, weather interruptions, inability to obtain land access rights of way, industry competition, limited number of customers, credit risk related to our customers, asset impairments, the availability of capital resources, and operational disruptions. A discussion of these factors, including risks and uncertainties, is set forth under “Risk Factors” in our Annual Report on Form 10-K filed with the SEC. These forward-looking statements reflect our current views with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategies and liquidity. Although the Company believes that the expectationsand assumptions reflected in such statements are reasonable, the Company can give no assurance that such expectations or assumptions willprove to be correct.  All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified by these cautionary statements and any other cautionary statements that may accompany such forward-looking statements. The forward-looking statements speak only as of the date made and, other than as required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Our backlog estimates represent those seismic data acquisition projects for which a client has executed a contract and has scheduled a start date for the project and unrecognized pre-committed funding from our Multi-client Services segment. Backlog estimates are based on a number of assumptions including those related to foreign exchange rates, and proportionate performance of contracts and our valuation of assets, such as seismic data to be received by us as payment under certain agreements. The realization of our backlog estimates is further affected by our performance under term rate contracts, as the early or late completion of a project under term rate contracts will generally result in decreased or increased, as the case may be, revenues derived from these projects. We and our clients may also modify contracts for services by mutual consent. Because of potential changes in the scope or schedule of our clients' projects, we cannot predict with certainty when or if our backlog will be realized. Even where a project proceeds as scheduled, it is possible that the client may default and fail to pay amounts owed to us. In addition, the contracts in our backlog are generally subject to cancellation by the client. Material delays, payment defaults or cancellations could reduce the amount of backlog currently reported, and consequently, could inhibit the conversion of that backlog into revenues.

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Overview

We provide an integrated suite of seismic data solutions to the global oil and gas industry, including our high resolution RG-3D Reservoir GradeSM (“RG3D”) seismic solutions. Our seismic data solutions consist primarily of seismic data acquisition, microseismic monitoring, data processing and interpretation services. Through these services, we deliver data that enables the creation of high resolution images of the earth’s subsurface and reveals complex structural and stratigraphic details. These images are used primarily by oil and gas companies to identify geologic structures favorable to the accumulation of hydrocarbons, to reduce risk associated with oil and gas exploration, to optimize well completion techniques and to monitor changes in hydrocarbon reservoirs. We integrate seismic survey design, data acquisition, processing and interpretation to deliver enhanced services to our clients. In addition, we own and market a seismic data library and license this data to clients on a non-exclusive basis.

We provide seismic data acquisition on a worldwide basis for land, transition zone and shallow marine areas, including challenging environments such as marshes, forests, jungles, arctic climates, mountains and deserts worldwide. Our seismic solutions are used by many of the world’s largest and most technically advanced oil and gas exploration and production companies, including national oil companies (“NOCs”), major integrated oil companies (“IOCs”), and large independent oil and gas companies. Our management team has significant operational experience in most of the major U.S. shale and tight reservoir plays, including the Haynesville, Barnett, Bakken, Fayetteville, Eagle Ford and Woodford, where we believe our high resolution RG3D seismic solutions are particularly well-suited.   We believe our experience positions us well to serve our customers as they expand their involvement in shale and tight reservoir plays outside the U.S.

We generate revenues primarily by providing Proprietary Services and Multi-client Services to our clients. Our Proprietary Services generate revenues by conducting geophysical surveys for our clients on a contractual basis where our clients generally obtain all rights to the seismic data acquired. We also generate revenues by providing microseismic monitoring, data processing and interpretation services. Our Multi-client Services generate revenues by selling licenses, on a non-exclusive basis, to seismic and other data we own as a part of our seismic data library.

Results of Operations

Three Months Ended June 30, 2013 Compared to Three Months Ended June 30, 2012 (unaudited)

The following tables set forth consolidated revenues by service and area for the periods indicated (amounts in millions):

	Three Month Period Ended June 30,
	(unaudited)
	2013					2012
	Amount		%			Amount		%
Proprietary Services	$	26.8		42	%	$	58.6		60	%
Multi-client Services		36.6		58	%		38.8		40	%
Total	$	63.4		100	%	$	97.4		100	%

	Three Month Period Ended June 30,
	(unaudited)
	2013					2012
	Amount		%			Amount		%
United States	$	38.7		61	%	$	43.3		44	%
International		24.7		39	%		54.1		56	%
Total	$	63.4		100	%	$	97.4		100	%

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Revenues. We recorded revenues of $63.4 million for the three months ended June 30, 2013 compared to $97.4 million for the same period of 2012, a decrease of $34.0 million, or 35%.

We recorded revenues from Proprietary Services of $26.8 million for the three months ended June 30, 2013, compared to $58.6 million for the same period of 2012, a decrease of $31.8 million, or 54%. The decrease related to our international Proprietary operations was $33.6 million, primarily due to a decrease in crew activities in Colombia and Brazil.

Multi-client Services generated revenues of $36.6 million for the three months ended June 30, 2013 compared to $38.8 million for the same period of 2012, a decrease of $2.2 million, or 6%. The $36.6 million in Multi-client Services revenues included $22.5 million of late sale revenues and $14.1 million of pre-commitment revenues. This compared to $10.6 million of late sale revenues, $24.7 million of pre-commitment revenues, and $3.5 million in non-cash data swap transactions during the same period of 2012.

The following table sets forth consolidated Multi-client Services revenues for the periods indicated (amounts in millions):

	Three Month Period Ended June 30,
	2013		2012
	(unaudited)
Multi-client revenues
Pre-commitments	$	14.1	$	24.7
Late sales		22.5		10.6
Subtotal		36.6		35.3
Non-cash data swaps		-		3.5
Total revenues	$	36.6	$	38.8

Operating expenses. Operating expenses, excluding depreciation and amortization, decreased by $15.3 million, or 42%, to $21.5 million for the three months ended June 30, 2013 in comparison to the same period of 2012.  The decrease was primarily due to a reduction in active crews operating in international markets for the three months ended June 30, 2013.

Selling, General and Administrative Expenses. Selling, General and Administrative expenses, excluding depreciation and amortization, increased by $8.5 million, or 76%, to $19.7 million for the three months ended June 30, 2013 in comparison to the same period of 2012. The SG&A cost increase was primarily due to Multi-client sales commissions of $5.9 million for the three months ended June 30, 2013.

Depreciation and Amortization Expenses.  Total depreciation (net) and amortization expense increased by $0.8 million, or 2%, to $33.8 million for the three months ended June 30, 2013 in comparison to the same period of 2012. The Multi-client Services amortization expense for the three months ended June 30, 2013 was $24.4 million, representing an average amortization rate of 67% for the period. Gross depreciation expense for the three month period ended June 30, 2013 was $9.5 million, of which, $0.9 million was capitalized in connection with our Multi-client Services investments resulting in a net depreciation expense of $8.6 million. During the three months ended June 30, 2013, approximately $1.4 million of library amortization expense was attributable to backstop amortization.

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The following table summarizes depreciation and amortization for the periods indicated (amounts in millions):

	Three Month Period Ended June 30,
	2013			2012
	(unaudited)
Gross depreciation expense	$	9.5		$	9.5
Less: capitalized depreciation for Multi-client library		0.9			3.1
Depreciation (net)		8.6			6.4
Multi-client amortization expense:
Revenue based amortization		23.0			23.7
Backstop amortization		1.4			2.1
Impairment		-			-
		24.4			25.8
Amortization expense of intangible assets		0.8			0.8
Depreciation (net) and amortization expense	$	33.8		$	33.0
Average Multi-client amortization rate for the period		67	%		66	%

Interest Expense, Net. Interest expense, net, increased by $0.5 million, or 6%, to $8.4 million for the three months ended June 30, 2013, compared to $7.9 million for the same period of 2012. The increase in interest expense related to an increase in borrowings outstanding under the Revolving Credit Facility.

Other Income (Expense), Net. Other income (expense), net and foreign exchange gain (loss) was a loss of $0.3 million for the three months ended June 30, 2013, compared to a loss of $1.2 million for the same period of 2012. The primary difference related to decreased foreign exchange losses.

Income Tax Expense (Benefit). Our income tax benefit for the three months ended June 30, 2013 was $5.4 million compared to income tax expense of $1.7 million for the same period of 2012. The effective income tax rate for the three months ended June 30, 2013 and 2012 was approximately 25% and 41%, respectively. The Company’s effective income tax rate in 2013 and 2012 differs from the federal statutory rate primarily due to state income taxes, non-deductible expenses, foreign tax credit limitations, tax rate differential from non-US activities, and valuation allowances in non-US jurisdictions.

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Six Months Ended June 30, 2013 Compared to Six Months Ended June 30, 2012 (unaudited)

The following tables set forth consolidated revenues by service and area for the periods indicated (amounts in millions):

	Six Month Period Ended June 30,
	(unaudited)
	2013					2012
	Amount		%			Amount		%
Proprietary Services	$	54.2		37	%	$	123.4		64	%
Multi-client Services		92.6		63	%		70.1		36	%
Total	$	146.8		100	%	$	193.5		100	%

	Six Month Period Ended June 30,
	(unaudited)
	2013					2012
	Amount		%			Amount		%
United States	$	105.9		72	%	$	93.1		48	%
International		40.9		28	%		100.4		52	%
Total	$	146.8		100	%	$	193.5		100	%

Revenues. We recorded revenues of $146.8 million for the six months ended June 30, 2013 compared to $193.5 million for the same period of 2012, a decrease of $46.7 million, or 24%.

We recorded revenues from Proprietary Services of $54.2 million for the six months ended June 30, 2013, compared to $123.4 million for the same period of 2012, a decrease of $69.2 million, or 56%. The decrease related to our international Proprietary operations was $63.7 million, primarily due to a decrease in crew activities in Colombia and Brazil.

Multi-client Services generated revenues of $92.6 million for the six months ended June 30, 2013 compared to $70.1 million for the same period of 2012, an increase of $22.5 million, or 32%.  The increase was primarily attributable to higher late sale revenues, including $24.3 million of the one-time non-refundable license fee related to our Multi-client data marketing and distribution relationship. The $92.6 million in Multi-client Services revenues included $50.2 million of late sale revenues and $42.4 million of pre-commitment revenues. This compared to $25.3 million of late sale revenues, $40.3 million of pre-commitment revenues, and $4.5 million in non-cash data swap transactions during the same period of 2012.

The following table sets forth consolidated Multi-client Services revenues for the periods indicated (amounts in millions):

	Six Month Period Ended June 30,
	2013		2012
	(unaudited)
Multi-client revenues
Pre-commitments	$	42.4	$	40.3
Late sales		50.2		25.3
Subtotal		92.6		65.6
Non-cash data swaps		-		4.5
Total revenues	$	92.6	$	70.1

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Operating expenses. Operating expenses, excluding depreciation and amortization, decreased by $27.8 million, or 43%, to $37.4 million for the six months ended June 30, 2013 in comparison to the same period of 2012.  The decrease was primarily due to a reduction in active crews operating in international markets for the six months ended June 30, 2013.

Selling, General and Administrative Expenses. Selling, General and Administrative expenses, excluding depreciation and amortization, increased by $9.0 million, or 35%, to $34.8 million for the six months ended June 30, 2013 in comparison to the same period of 2012. The SG&A cost increase was primarily due to increased employee severance related charges, bad debt expense and Multi-client sales commissions for the six months ended June 30, 2013.

Depreciation and Amortization Expenses.  Total depreciation (net) and amortization expense increased by $26.4 million, or 42%, to $89.5 million for the six months ended June 30, 2013 in comparison to the same period of 2012. The Multi-client Services amortization expense for the six months ended June 30, 2013 was $72.0 million, of which $13.0 million was attributable to impairment related charges for certain library assets, resulting in an increase in our average amortization rate to 78% for the period. Gross depreciation expense for the six month period ended June 30, 2013 was $18.5 million, of which, $2.6 million was capitalized in connection with our Multi-client Services investments resulting in a net depreciation expense of $15.9 million. During the six months ended June 30, 2013, approximately $2.7 million of library amortization expense was attributable to backstop amortization.

The following table summarizes depreciation and amortization for the periods indicated (amounts in millions):

	Six Month Period Ended June 30,
	2013			2012
	(unaudited)
Gross depreciation expense	$	18.5		$	19.6
Less: capitalized depreciation for Multi-client library		2.6			6.1
Depreciation (net)		15.9			13.5
Multi-client amortization expense:
Revenue based amortization		56.3			43.6
Backstop amortization		2.7			4.5
Impairment		13.0			-
		72.0			48.1
Amortization expense of intangible assets		1.6			1.5
Depreciation (net) and amortization expense	$	89.5		$	63.1
Average Multi-client amortization rate for the period		78	%		69	%

Interest Expense, Net. Interest expense, net, increased by $1.8 million, or 12%, to $16.8 million for the six months ended June 30, 2013, compared to $15.0 million for the same period of 2012. The increase in interest expense related to an increase in borrowings outstanding under the Revolving Credit Facility and the New Notes issued in March 2012.

Other Income (Expense), Net. Other income (expense), net and foreign exchange gain (loss) was a loss of $0.2 million for the six months ended June 30, 2013, compared to a loss of $1.5 million for the same period of 2012. The primary difference related to foreign exchange gain.

Income Tax Expense (Benefit). Our income tax benefit for the six months ended June 30, 2013 was $7.0 million compared to income tax expense of $7.5 million for the same period of 2012. The effective income tax rate for the six months ended June 30, 2013 and 2012 was approximately 20% and 45%, respectively. The Company’s effective income tax rate in 2013 and 2012 differs from the federal statutory rate primarily due to state income taxes, non-deductible expenses, foreign tax credit limitations, tax rate differential from non-US activities, and valuation allowances in non-US jurisdictions.

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EBITDA. We define EBITDA as net income before interest, taxes, depreciation and amortization, and non-controlling interests. EBITDA is not a measure of financial performance derived in accordance with GAAP and should not be considered in isolation or as an alternative to net income as an indication of operating performance. The table below presents a reconciliation of EBITDA to net income (loss) (in thousands):

	Three Month Period Ended June 30,						Six Month Period Ended June 30,
	2013			2012			2013			2012
Net income (loss), attributable to common shareholders	$	(15,786	)	$	2,546		$	(27,328	)	$	9,476
Net loss, attributable to non-controlling interests		(115	)		(50	)		(239	)		(260	)
Income tax expense		(5,402	)		1,706			(6,972	)		7,455
Interest expense, net		8,430			7,934			16,799			15,049
EBIT (1)	$	(12,873	)	$	12,136		$	(17,740	)	$	31,720
Add: Revenue based Multi-client amortization		23,013			23,690			56,303			43,587
Add: Non-revenue based Multi-client amortization (2)		1,441			2,081			15,705			4,540
Add: Depreciation (net) and other amortization (3)		9,366			7,168			17,503			15,031
EBITDA (1)	$	20,947		$	45,075		$	71,771		$	94,878
Less: Revenue based Multi-client amortization		(23,013	)		(23,690	)		(56,303	)		(43,587	)
Less: Non-revenue based Multi-client amortization (2)		(1,441	)		(2,081	)		(15,705	)		(4,540	)
Adjusted EBITDA (1)	$	(3,507	)	$	19,304		$	(237	)	$	46,751
Add: Revenue based Multi-client amortization		23,013			23,690			56,303			43,587
Add: Non-revenue based Multi-client amortization (2)		1,441			2,081			15,705			4,540
Add: Stock based compensation		1,400			1,536			3,386			2,977
Less: Non-cash multi-client revenue		-			(3,510	)		-			(4,442	)
Less: Cash investment in multi-client library		(23,367	)		(37,429	)		(51,355	)		(79,770	)
Cash EBITDA (1)	$	(1,020	)	$	5,672		$	23,802		$	13,643

(1)      EBIT, EBITDA, Adjusted EBITDA and Cash EBITDA (as defined in the calculations above) are non-GAAP measures.

(2)      Includes library impairment charges and backstop amortization.

(3)      Includes amortization of intangibles.

Our management believes EBITDA is useful to an investor in evaluating our operating performance because this measure is widely used by investors in the energy industry to measure a company’s operating performance without regard to items excluded from the calculation of such term, which can vary substantially from company to company depending upon, among other factors, accounting methods, book value of assets, capital structure and the method by which assets were acquired. We believe EBITDA helps investors more meaningfully evaluate and compare the results of our operations from period to period by removing the effect of our capital structure and asset base from our operating structure. EBITDA is also used as a supplemental financial measure by our management in presentations to our board of directors, as a basis for strategic planning and forecasting, and as a component for setting incentive compensation.

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Liquidity and Capital Resources

Our primary internal sources of liquidity are cash generated by the Proprietary Services and Multi-client Services we provide to our clients, and proceeds from the sale of assets. Our primary external sources of liquidity are borrowings under our Revolving Credit Facility, debt and equity offerings and equipment financings such as capital leases. Our primary uses of capital include the acquisition of seismic data recording equipment, seismic vehicles and vessels, other equipment needed to outfit new crews and to enhance the capabilities of and maintain existing crews’ energy sources, and investments in Multi-client Services data for our seismic data library. We also use capital to fund the working capital required to add new crews and operate existing crews and to make debt service payments on our outstanding indebtedness.

Our internal sources of liquidity, including our cash position, depend to a large extent on the level of demand for our services. Historically, we have periodically supplemented our internal sources of liquidity with external sources, including borrowings under our Revolving Credit Facility, as the need arises. With our current level of indebtedness and share price, our access to debt and equity capital markets may be limited and we may be increasingly reliant on our internal sources of liquidity. For this reason, we are focused on remaining fully pre-funded on investments in our Multi-client library and increasing the weighting of Proprietary Services revenues as a percentage of total revenues. In addition, we have extended until September 30, 2013 the reduction of commitments under our Revolving Credit Facility to $67.5 million. As of June 30, 2013, borrowings outstanding under our Revolving Credit Facility aggregated $79.9 million. We currently intend to refinance the Revolving Credit Facility prior to its maturity. We may also fund the scheduled reduction in our commitments under the Revolving Credit Facility through cash generated from operations. While we are focused on improving our liquidity, events beyond our control may affect our results of operations and financial condition, which could reduce or delay capital expenditures, including amounts we may spend on our Multi-client library.

As of June 30, 2013, we had available cash and undrawn borrowing capacity under our Revolving Credit Facility as follows (in millions):

	June 30, 2013
	(unaudited)
Available cash	$	10.7
Undrawn borrowing capacity under Revolving Credit Facility (1)		0.1
Total available liquidity	$	10.8

(1) Borrowings under the Revolving Credit Facility are subject to certain limitations under provisions of the Senior Notes Indenture.

The following table summarizes the net cash provided by (used in) operating, investing and financing activities for the six months ended June 30, 2013 and 2012 (in millions):

	Six Month Period Ended June 30,
	2013			2012
	(unaudited)
Adjustments to reconcile net income (loss) to net cash	$	54.1		$	65.2
Effects of changes in operating assets and liabilities		(13.9	)		(5.4	)
Operating activities		40.2			59.8
Investing activities		(52.7	)		(85.1	)
Financing activities		(0.1	)		27.7
Net increase (decrease) in cash and cash equivalents	$	(12.6	)	$	2.4

Operating Activities.  Net cash provided by operating activities was $40.2 million for the six months ended June 30, 2013 compared to $59.8 million for the same period of 2012, a decrease of $19.6 million. The decrease in operational cash flow was primarily driven by the decrease in operating income during the period.

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Investing Activities.  Net cash used in investing activities was $52.7 million for the six months ended June 30, 2013, compared to $85.1 million for the same period of 2012, a decrease of $32.4 million. The decrease was primarily the result of decreased investment in our Multi-client library and capital expenditures, partially offset by decreased sales of assets. The following table sets forth our cumulative investment in our Multi-client library for the periods indicated (in millions): 

	Six Month Period Ended June 30,
	2013		2012
	(unaudited)
Multi-client investment (period)
Cash	$	51.4	$	79.8
Capitalized depreciation (1)		2.6		6.1
Non-cash data swaps (2)		-		2.8
Total	$	54.0	$	88.7
Investment (cumulative)
Cash	$	624.5	$	488.0
Capitalized depreciation (1)		58.0		50.1
Non-cash data swaps (2)		26.9		26.0
Total		709.4		564.1
Cumulative amortization		418.4		291.3
Multi-client net book value	$	291.0	$	272.8

(1) Represents capitalized cost of the equipment, owned or leased, and utilized in connection with Multi-client Services.

(2) Includes non-cash data swap investment recorded as deferred revenue.

Financing Activities. Net cash used by financing activities was $0.1 million for the six months ended June 30, 2013, compared to net cash provided by financing activities of $27.7 million for the same period of 2012, an increased cash outflow of $27.8 million. The increased cash outflow was primarily the result of increased principal payments on our Revolving Credit Facility, capital leases and promissory notes.

Capital Resources.  On April 30, 2010, we entered into the Revolving Credit Facility with Bank of America, N.A., as administrative agent, and the lenders party to the Revolving Credit Facility.  Our Revolving Credit Facility initially provided for borrowings of up to $50.0 million. Under the Third Amendment, borrowings up to $85.0 million were permitted under our Revolving Credit Facility until April 30, 2013, at which point the maximum permitted borrowings were reduced to $67.5 million and the final maturity date was extended to April 30, 2014. The loans under our Revolving Credit Facility bear interest at a rate equal to LIBOR plus the Applicable Rate or the Base Rate plus the Applicable Rate. The Base Rate is defined as the higher of (x) the prime rate or (y) the Federal Funds rate plus 0.50%. The Applicable Rate is defined as a percentage determined in accordance with a pricing grid based upon our leverage ratio, that will decline from LIBOR plus 4.00% or the prime rate plus 3.00% to a minimum rate equal to LIBOR plus 3.50% or the prime rate plus 2.50%. We may prepay borrowings under our Revolving Credit Facility at any time without penalty or premium, subject to reimbursement of the lenders’ breakage and redeployment costs in the case of prepayment of LIBOR borrowings. We are also obligated to pay a commitment fee of 0.75% per annum on the actual daily unused portions of the Revolving Credit Facility. Under the Revolving Credit Facility, the Company, as Borrower, has the ability until the Extended Maturity Date, April 30, 2014, to request an increase in lending commitments by an additional $10.0 million subject to the requirements of the Credit Agreement. On April 24, 2013, the Company entered into the Fourth Amendment to the Company’s Revolving Credit Facility with Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer, Barclays Bank PLC, and Citibank, N.A. The Company has requested and certain of the Lenders have agreed to assume a portion of certain expiring commitments and extend such Lenders’ respective Commitments and/or the expiration thereof on the terms and conditions set forth in the Amendment. Under the Fourth Amendment, the permitted borrowings under the Revolving Credit Facility was reduced to $80.0 million until the initial Maturity Date of September 30, 2013, at which point the maximum permitted borrowings under the Revolving Credit Facility is reduced to $67.5 million through the Maturity Date of the Revolving Credit Facility on April 30, 2014.

Capital Expenditures. Capital expenditures for the six months ended June 30, 2013 were $68.0 million, consisting of cash investments in property and equipment of $6.6 million and investments in our Multi-client library of $51.4 million.

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Contractual Obligations

The following table summarizes the payments due in specific periods related to our contractual obligations as of June 30, 2013 (in thousands):

	Total		Within 1 Year		1-3 Years		3-5 Years		After 5 Years
Debt obligations (1)	$	342,831	$	92,431	$	400	$	250,000	$	-
Capital lease obligations		7,904		4,410		3,459		35		-
Operating lease obligations		3,687		1,940		1,438		309		-
	$	354,422	$	98,781	$	5,297	$	250,344	$	-

(1) Includes unamortized discount.

Off Balance Sheet Arrangements

We do not currently have any off balance sheet arrangements.

Backlog

The Company’s backlog at June 30, 2013 was approximately $201 million ($174 million in Proprietary Services; $27 million in Multi-client Services) compared to $174 million at June 30, 2012. Backlog at March 31, 2013 was approximately $180 million ($136 million in Proprietary Services; $44 million in Multi-client Services).

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Item 3.  Quantitative and Qualitative Disclosures About Market Risk

The primary sources of market risk are the volatility of oil and gas prices and the concentration of our clients in the oil and gas industry. The volatility of oil and gas prices may have a positive or negative effect on demand and pricing for our services. The concentration of substantially all of our clients in the oil and gas industry may have a positive or negative effect on our exposure to credit risk since all of our clients are similarly affected by changes in industry and economic conditions. We regularly maintain deposits in our bank accounts in excess of the $250,000 guaranteed by the Federal Deposit Insurance Corporation. We are subject to market risk exposure related to changes in interest rates on our outstanding floating rate debt. Borrowings under our Revolving Credit Facility bear floating-rate interest, at our option, based on LIBOR or the prime rate. We do not enter into interest rate hedges or other derivatives for speculative purposes.

Financial instruments, which potentially subject us to concentration of credit risk, consist primarily of unsecured trade receivables. In the normal course of business, we provide credit terms to our clients. Accordingly, we perform ongoing credit evaluations of our clients and maintain allowances for possible losses.

We conduct business in various foreign countries. We are subject to foreign exchange risks because our contracts may, from time-to-time, be denominated in currencies other than the U.S. dollar while a significant portion of our operating expenses and income taxes accrue in other currencies. Movements in the exchange rates between the U.S. dollar and other currencies may adversely affect our financial results. Historically, we have not attempted to hedge foreign exchange risk. For the six months ended June 30, 2013, approximately 3% of our revenues were recorded in foreign currencies, and we recorded net foreign exchange gain of $0.1 million. We attempt to match our foreign currency revenues and expenses in order to balance our net position of receivables and payables in foreign currency. Nevertheless, during the past three years, foreign-denominated receivables have exceeded foreign-denominated payables primarily as a result of contract terms required by our national oil company clients. Our management believes that this will continue to be the case in the future.

Item 4. Controls and Procedures

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we have evaluated the effectiveness of the Company disclosure controls and procedures (as defined in Rule 13a-15(e) of the Exchange Act) as of June 30, 2013.  Based on that evaluation, the Company’s principal executive and principal financial officer have concluded that these controls and procedures were effective as of June 30, 2013.

There were no changes in the Company’s internal control over financial reporting that occurred during the Company’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

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PART II.  OTHER INFORMATION

Item 1.  Legal Proceedings

Neither the Company nor any of its subsidiaries is a party to any pending legal proceedings other than litigation arising in the ordinary course of the Company’s business, and the Company believes that such litigation is unlikely to materially impact the Company.  Moreover, the Company is not aware of any such legal proceedings that are contemplated by governmental authorities with respect to the Company, any of its subsidiaries, or any of their respective properties.

Item 1A.  Risk Factors

Our business has many risks. Factors that could materially adversely affect our business, financial position, results of operations, liquidity or the trading price of our shares are described in Item 1A. “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2012. As of the date of this report, these risk factors have not changed materially. This information should be considered carefully, together with other information in this report and other reports and materials we file with the SEC.

Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds

None.

Item 3.  Defaults Upon Senior Securities

None.

Item 4.  Mine Safety Disclosures

Not applicable. 

Item 5.  Other Information

None

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Item 6.  Exhibits (items indicated by an (*) are filed herewith)

Exhibit No.	Description
10.1	Amendment No. 4 to Credit Agreement, dated as of April 24, 2013, entered into by Global Geophysical Services, Inc., as Borrower, the lenders from time to time party thereto, as Lenders, and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer (incorporated by reference to Exhibit 10.1 of the Current Report on Form 8-K filed by the Company on April 25, 2013).
10.2	Amendment No. 4 to First Preferred Fleet Mortgage, dated as of April 24, 2013 and effective as of April 24, 2013, by and between Global Geophysical Services, Inc., as Shipowner, and Bank of America, N.A., a national banking association, as administrative agent, as Mortgagee (incorporated by reference to Exhibit 10.2 of the Current Report on Form 8-K filed by the Company on April 25, 2013).
10.3*	Form of Incentive Stock Option Agreement.
10.4*	First Amendment, effective as of May 24, 2013, to Global Geophysical Services, Inc. Amended and Restated 2006 Incentive Compensation Plan, effective as of February 5, 2010.
10.5*	Form of 2013 Performance Unit Award Agreement – Executive Officers.
31.1*	Certification of Chief Executive Officer pursuant to Rule 13a-14(a) or Rule 15d-14(a) of the Securities Exchange Act of 1934, as amended.
31.2*	Certification of Chief Financial Officer pursuant to Rule 13a-14(a) or Rule 15d-14(a) of the Securities Exchange Act of 1934, as amended.
32.1*	Certification of Chief Executive Officer pursuant to Rule 13a-14(b) or Rule 15d-14(b) and 18 U.S.C.  Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2*	Certification of Chief Financial Officer pursuant to Rule 13a-14(b) or Rule 15d-14(b) and 18 U.S.C.  Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS*	XBRL Instance Document.
101.SCH*	XBRL Taxonomy Extension Schema Document.
101.CAL*	XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF*	XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB*	XBRL Taxonomy Extension Label Linkbase Document.
101.PRE*	XBRL Taxonomy Extension Presentation Linkbase Document.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	GLOBAL GEOPHYSICAL SERVICES, INC.
Date:  August 13, 2013	/s/ Richard C. White
	Richard C. White
	President and Chief Executive Officer
	(Principal Executive Officer)
Date:  August 13, 2013	/s/ P. Mathew Verghese
	P. Mathew Verghese
	Senior Vice President and Chief Financial Officer
	(Principal Financial Officer)

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EX-10.3

EXHIBIT 10.3

GLOBAL GEOPHYSICAL SERVICES, INC

INCENTIVE STOCK OPTION AGREEMENT

Optionee:

1.Grant of Stock Options.  As of the Grant Date (identified in Exhibit A below), Global Geophysical Services, Inc., a Delaware corporation (the “Company”), hereby grants various Incentive Stock Options (the “Options” and individually an “Option”) to Optionee (identified above), an Employee of the Company, to purchase the number of shares of the Company’s  Common stock, $.01 par value per share (the “Common Stock”) identified in Exhibit A below (the “Shares”), subject to the terms and conditions of this agreement (the “Agreement”) and the Global Geophysical Services, Inc. 2006 Incentive Compensation Plan (the “Plan”).  The Plan is hereby incorporated herein in its entirety by reference.  The Shares, when issued to Optionee upon the exercise of the Options, shall be fully paid and nonassessable.  The Options are “incentive stock options” as defined in Section 422 of the Internal Revenue Code.

2.Definitions.  All capitalized terms used herein shall have the meanings set forth in the Plan unless otherwise provided herein. Exhibit A below sets forth meanings for certain capitalized terms used in this Agreement.

3.Option Term.  The Options shall commence on the Grant Date (identified in Exhibit A below) and terminate on the date immediately prior to the tenth (10th) anniversary of the Grant Date.  The period during which the Options are in effect and may be exercised is referred to herein as the “Option Period.”

4.Option Price.  The Option Price per Share applicable to the Options is identified in Exhibit A below.

5.Vesting.  The total number of Shares subject to each Option shall vest in accordance with the vesting schedule identified in Exhibit A below.  The Shares may be purchased at any time after they become vested, in whole or in part, during the Option Period; provided, however, an Option may only be exercisable to acquire whole Shares.  The right of exercise provided herein shall be cumulative so that if an Option is not exercised to the maximum extent permissible after vesting, the vested portion of the Option shall be exercisable, in whole or in part, at any time during the Option Period.

6.Method of Exercise.  Each Option is exercisable by delivery of a written notice to the Secretary of the Company, signed by Optionee, specifying the number of Shares to be acquired on, and the effective date of, such exercise.  Optionee may withdraw notice of exercise of that Option, in writing, at any time prior to the close of business on the business day preceding the proposed exercise date.

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7.Method of Payment.  The Option Price upon exercise of each Option shall be payable to the Company in full either: (i) in cash or its equivalent; (ii) subject to prior approval by the Committee in its discretion, by tendering previously acquired shares of Common Stock having an aggregate Fair Market Value (as defined in the Plan) at the time of exercise equal to the total applicable Option Price; (iii) subject to prior approval by the Committee in its discretion, by withholding shares which otherwise would be acquired on exercise having an aggregate Fair Market Value at the time of exercise equal to the total applicable Option Price; or (iv) any other permitted method pursuant to the applicable terms and conditions of the Plan.

As soon as practicable after receipt of a written notification of exercise and full payment, the Company shall deliver to or on behalf of Optionee, in the name of Optionee or other appropriate recipient, Share certificates for the number of Shares purchased under the Option, or copies thereof if the Shares are not then publicly traded.  Such delivery shall be effected for all purposes when a stock transfer agent of the Company shall have deposited such certificates in the United States mail, addressed to Optionee or other appropriate recipient.

8.Restrictions on Grant or Exercise.  An Option may not be exercised if the issuance of such Shares or the method of payment of the consideration for such Shares would constitute a violation of any applicable federal or state securities or other laws or regulations, or any rules or regulations of any stock exchange on which the Common Stock may be listed.

9.Termination of Service.  Voluntary or involuntary Termination of Service shall affect Optionee’s rights under the Options as follows:

(a)Termination for Cause.  All the Options, including any vested and non-vested portions thereof, shall expire on 12:01 a.m. (CST) on the date of Termination of Service and shall not be exercisable to any extent if Optionee’s Employment is terminated for Cause (as defined in the Plan at the time of such termination).

(b)Retirement.  If Optionee’s Employment is terminated for Retirement on or after Optionee attains the age of 65, then (i) the non-vested portion of the Options shall immediately expire on the termination date and (ii) the vested portion of the Options shall expire to the extent not exercised on or before the three (3) month anniversary of the termination date.  In no event may any Option be exercised by anyone after the earlier of (i) the expiration of the Option Period or (ii) three months from the termination date.

(c)Death or Disability.  If Optionee’s Employment is terminated by death or Disability (as defined in the Plan at the time of such termination), then (i) the non-vested portion of the Option shall immediately expire on the date of termination of Employment and (ii) the vested portion of the Options shall expire on the one year anniversary date of the termination of Employment (to the extent not exercised by Optionee) or, in the case of death, by the person or persons to whom Optionee’s rights under the Options have passed by will or by the laws of descent and distribution or, in the case of Disability, by Optionee or Optionee’s legal representative.  In no event may any Option be exercised by anyone on or after the earlier of (i) the expiration of the Option Period or (ii) one year after the date of Optionee’s death or termination of Employment due to Disability.

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(d)Other Involuntary Termination or Voluntary Termination.  If Optionee’s Employment is terminated for any reason other than for Cause, Retirement, death or Disability, then (i) the non-vested portion of the Options shall immediately expire on the termination of Employment date and (ii) the vested portion of the Options shall expire to the extent not exercised on or before the three (3) month anniversary of the termination date.  In no event may the Options be exercised by anyone after the earlier of (i) the expiration of the Option Period or (ii) three months after the termination of Employment date.

10.Qualification as an Incentive Stock Option.

(a)Optionee understands that the Options are intended to qualify as “incentive stock options” within the meaning of Code Section 422.  To the extent that the aggregate Fair Market Value (determined as of the date the Board approved this Option) of the Shares with respect to which the Options are exercisable for the first time by Optionee during any calendar year under all plans of the Company exceeds $100,000.00, the Options or portions thereof which exceed such limit (according to the order in which they were granted) shall be treated as nonqualified stock options subject to the provisions of Code Section 83.

(b)Optionee must meet certain holding periods under Code Section 422(a) to obtain the federal income tax treatment applicable to the exercise of incentive stock options and the disposition of shares acquired thereby.  Optionee further understands that the exercise price of Shares subject to the Options has been set by the Committee at a price that the Committee have determined to be not less than 100% (or, if Optionee, at the Grant Date, owned more than 10% of the total combined voting power of the Company’s outstanding voting securities, 110%) of the Fair Market Value, as determined in accordance with the Plan, of a share of Common Stock on the Grant Date.  Optionee further understands and agrees that the Company shall not be liable or responsible for any additional tax liability incurred by Optionee in the event that the Internal Revenue Service for any reason determines that any Option does not qualify as an “incentive stock option” within the meaning of the Code.

11.Disqualifying Disposition.  In the event that Shares acquired upon exercise of an Option are disposed of by Optionee in a “Disqualifying Disposition,” Optionee shall notify the Company in writing within thirty (30) days after such disposition of the date and terms of such disposition.  For purposes hereof, “Disqualifying Disposition” means a disposition of Shares that are acquired upon the exercise of an Option prior to the expiration of either two years from the Grant Date or one year from the transfer date of Shares to Optionee pursuant to the exercise of that Option.

12.Independent Legal and Tax Advice.  Optionee acknowledges that the Company has advised Optionee to obtain independent legal and tax advice regarding the grant and exercise of the Options and the disposition of any Shares acquired thereby.

13.Reorganization of Company.  The existence of the Options shall not affect  in any way the right or power of the Company or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in Company’s capital structure or its business, or any merger or consolidation of the Company, or any issue of bonds, debentures, preferred or prior preference stock ahead of or affecting the Shares or the rights thereof, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise.

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14.Adjustment of Shares.  In the event of stock dividends, spin-offs of assets or other extraordinary dividends, stock splits, combinations of shares, recapitalizations, mergers, consolidations, reorganizations, liquidations, issuances of rights or warrants and similar transactions or events involving Company, appropriate adjustments shall be made to the terms and provisions of each Option as provided in the Plan.

15.No Rights in Shares.  Optionee shall have no rights as a stockholder in respect of the Shares until Optionee becomes the record holder of such Shares.

16.Investment Representation.  Optionee will enter into such written representations, warranties and agreements as Company may reasonably request in order to comply with any federal or state securities law.  Moreover, any stock certificate for any Shares issued to Optionee hereunder may contain a legend restricting their transferability as determined by the Company in its discretion.  Optionee agrees that Company shall not be obligated to take any affirmative action in order to cause the issuance or transfer of Shares hereunder to comply with any law, rule or regulation that applies to the Shares subject to the Options.

17.No Guarantee of Employment.  The Options shall not confer upon Optionee any right to continued Employment with the Company or any subsidiary thereof.

18.Withholding of Taxes.  The Company shall have the right to (a) make deductions from the number of Shares otherwise deliverable upon exercise of the Options in an amount sufficient to satisfy withholding of any federal, state or local taxes required by law, or (b) take such other action as may be necessary or appropriate to satisfy any such tax withholding obligations.

19.General.

(a)Notices.  All notices under this Agreement shall be mailed or delivered by hand to the parties at their respective addresses set forth beneath their signatures below or at such other address as may be designated in writing by either of the parties to one another.  Notices shall be effective upon receipt.

(b)Shares Reserved.  The Company shall at all times during the Option Period reserve and keep available under the Plan such number of Shares as shall be sufficient to satisfy the requirements of this Options.

(c)Transferability of Options.  The Options granted pursuant to this Agreement are not transferable other than by will or by the laws of descent and distribution or by a qualified domestic relations order (as defined in Code Section 414(p)).  The Options will be exercisable during Optionee’s lifetime only by Optionee or by Optionee’s legal representative in the event of Optionee’s Disability.  No right or benefit hereunder shall in any manner be liable for or subject to any debts, contracts, liabilities, obligations or torts of Optionee.

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(d)Amendment and Termination.  No amendment, modification or termination of the Options or this Agreement that would materially aversely affect the rights of Optionee shall be made at any time without the written consent of Optionee and Company.

(e)No Guarantee of Tax Consequences.  The Company and the Committee make no commitment or guarantee that any federal or state tax treatment will apply or be available to any person eligible for benefits under the Options.  Optionee has been advised and been provided the opportunity to obtain independent legal and tax advice regarding the grant and exercise of the Options and the disposition of any Shares acquired thereby.  It is understood that the Company does not assure that an Option shall, in fact, be treated as an Incentive Stock Option.

(f)Severability.  In the event that any provision of this Agreement shall be held illegal, invalid, or unenforceable for any reason, such provision shall be fully severable, but shall not affect the remaining provisions of the Agreement, and the Agreement shall be construed and enforced as if the illegal, invalid, or unenforceable provision had not been included herein.

(g)Supersedes Prior Agreements.  This Agreement, including the relevant provisions of the Plan, shall supersede and replace all prior agreements and understandings, oral or written, between the Company and Optionee regarding the grant of the Options covered hereby.

(h)Governing Law.  The Options shall be construed in accordance with the laws of the State of Texas without regard to its conflict of law provisions, to the extent federal law does not supersede and preempt Texas law.

(i)Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be an original, but all of which together shall constitute one and the same instrument.

IN WITNESS WHEREOF, the Company, as of the Grant Date, has caused this Agreement to be executed on its behalf by its duly authorized officer and Optionee has hereunto executed this Agreement as of the same date

GLOBAL GEOPHYSICAL SERVICES, INC

By:  _______________________

Name:  Richard C. White

Title:  President & CEO

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Address for Notices:

Global Geophysical Services, Inc

13927 S. Gessner

Missouri City, Texas 77489

Attn: Secretary                                                      

OPTIONEE

___________________________

___________________________

Signature

Address for Notices:

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EXHIBIT A

1.Definitions and Other Terms.  The following capitalized terms shall have those meanings set forth opposite them:

(a)Optionee:

(b)Grant Date:

(c)Number of Shares Covered:

(d)Option Price:

(e)Option Period:      through        (until 5:00 p.m. CST)

(f)Vesting Schedule: All Options for the Shares covered by this Agreement shall vest and become exercisable in accordance with the following vesting schedule:

[To come]

Notwithstanding the above vesting schedule, in the event of a “Change in Control” of the Company (as defined in the Plan at the time of such event), the entire non-vested portion of the Options, if any, shall immediately become 100% vested as of the Change in Control date.

EX-10.4

EXHIBIT 10.4

GLOBAL GEOPHYSICAL SERVICES, INC.

2006 INCENTIVE COMPENSATION PLAN

(As Amended and Restated Effective February 5, 2010)

First Amendment

Global Geophysical Services, Inc. (the “Company”), having reserved the right under Section 7.7 of the Global Geophysical Services, Inc. 2006 Incentive Compensation Plan, as amended and restated effective February 5, 2010 (the “Plan”), to amend the Plan, does hereby amend the Plan, effective as of May 24, 2013, as follows:

1.The first two paragraphs of Section 1.2(g) of the Plan are hereby amended to read as follows:

“(g)           Committee.  The committee appointed by the Board to administer the Plan.  If the Company is a Publicly Held Corporation, then, except as provided in the immediately succeeding paragraph, the Plan shall be administered by the Committee appointed by the Board consisting of not less than two directors who fulfill the ‘nonemployee director’ requirements of Rule 16b-3 under the Exchange Act and the ‘outside director’ requirements of Code Section 162(m). In either case, the Committee may be the Compensation Committee of the Board, or any subcommittee of the Compensation Committee, provided that the members of the Committee satisfy the requirements of the previous provisions of this paragraph.

The Board shall have the power to fill vacancies on the Committee arising by resignation, death, removal or otherwise. The Board, in its sole discretion, may retain all powers and duties of the Committee in a single committee or may allocate the powers and duties of the Committee among one or more separate committees, and any such separate committee need not satisfy the requirements of the immediately preceding paragraph if such separate committee is only delegated the authority to grant Incentive Awards to Participants who are not subject to Section 16(b) of the Exchange Act. The members of the Committee shall serve at the discretion of the Board.”

2.As amended hereby, the Plan is specifically ratified and reaffirmed.

1

IN WITNESS WHEREOF, the Company has caused these presents to be executed by the signature affixed hereto in a number of copies this 24th day of May, 2013, all of which shall constitute one and the same instrument, which may be sufficiently evidenced by any executed copy hereof, effective as of the dates set forth above.

	GLOBAL GEOPHYSICAL SERVICES, INC.
By:	/s/ James E. Brasher
	James E. Brasher, Sr. VP

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EX-10.5

       EXHIBIT 10.5

2013 PERFORMANCE UNIT AWARD AGREEMENT - EXECUTIVE OFFICERS

To:           [Name]:

You have been selected as a recipient of performance units (“Performance Units”) under the Global Geophysical Services, Inc. 2006 Incentive Compensation Plan, as amended and restated effective as of February 5, 2010, and as thereafter amended (the “Plan”).  This Award Agreement (“Agreement”) and the Plan together govern your rights and set forth all of the conditions and limitations affecting such rights.  Terms used in this Agreement that are defined in the Plan will have the meanings ascribed to them in the Plan.  If there is any inconsistency between the terms of this Agreement and the terms of the Plan, the Plan’s terms will supersede and replace the conflicting terms of this Agreement.

1.   Terms.  Pursuant to the terms and conditions of the Plan and this Agreement, you have been granted Performance Units as outlined below:

Grant Date: ___________, 2013

Performance Period: January 1, 2013 through December 31, 2015

Vesting Date: December 31, 2015, subject to Section 2 and Section 7

Settlement Date: March 15, 2016, subject to Section 2 and Section 7

Performance Units At Target:

Performance Goals: Schedule I to this Agreement describes the manner in which the total number of Performance Units that vest hereunder will be calculated, with the total number of vested Performance Units based on the metrics set forth on Schedule I (the “Performance Goals”).

2.   Vesting.  After the close of the Performance Period, but before the Settlement Date, the Committee shall determine and certify the extent to which the Performance Goals have been achieved in accordance with Schedule I.  The Performance Units will vest and become non-forfeitable on the Vesting Date in an amount determined based on the results of the Performance Goals, provided you have been continuously employed by the Company or its Subsidiaries at all times from the Grant Date until the Vesting Date.  For the avoidance of doubt, if the Committee determines that the level of achievement of the Performance Goals does not meet the minimum threshold requirements specified in Schedule I, then all Performance Units shall be forfeited.  Except as expressly set forth below, if you are not employed on the Vesting Date, you shall have no rights under this Agreement and all Performance Units shall be forfeited as of your termination date.

If your employment terminates due to Disability or death, then the date of such termination of employment shall be deemed the Vesting Date and you shall vest in the Performance Units At Target.  The Performance Units shall be settled on the Settlement Date, which shall be no later than 10 business days after the date of your termination of employment due to death or Disability.

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If your employment is terminated by the Company without Cause (as defined in the employment agreement between you and the Company (the “Employment Agreement”)) or you resign for Good Reason (as defined in the Employment Agreement), then the date of such termination of employment shall be deemed the Vesting Date and you shall vest in the Performance Units At Target, provided that you enter into the release agreement referenced in Section 6 of the Employment Agreement.  The Performance Units shall be settled on the Settlement Date, which shall be no later than 60 days after the date of your termination of employment without Cause or your resignation for Good Reason.

If you terminate your employment due to Retirement, then you will not forfeit your Performance Units as a result of your Retirement, and on the Vesting Date set forth in Section 1 above you will vest in the number of Performance Units determined by multiplying (i) the number of Performance Units that would have vested as determined in accordance with the first paragraph of this Section 2 had your employment not terminated and (ii) a fraction, the numerator of which is the number of days that elapsed between January 1, 2013 and the date of your termination of employment due to Retirement and the denominator of which is 1095.

Notwithstanding the foregoing, regardless of the level of achievement of the Performance Goals, the Committee reserves the discretion to adjust the payout of the Performance Units by any amount it deems appropriate, including reducing the payout of the Performance Units to zero or increasing the payout of the Performance Units to two times the Performance Units at Target.

3.   Book Entry Account.  The Company shall establish (or shall instruct its stock plan administrator to establish) a book entry account representing the Performance Units At Target in your name effective as of the Grant Date, provided that the Company shall retain control of the Performance Units in such account until the Performance Units have become vested in accordance with this Agreement and shares of Common Stock have been issued, if any, in settlement of the Performance Units.

4.   Distribution of Shares.  You shall receive one share of Common Stock in satisfaction of each vested Performance Unit credited to your account, which shall be registered in your name and transferable by you, on the Settlement Date.

5.   Stockholder Rights; Dividend Equivalents.  The Performance Units do not confer on you any rights of a stockholder of the Company unless and until shares of Common Stock are in fact issued to you in connection with the vested Performance Units.  No dividend equivalents shall be paid with respect to unvested Performance Units.

6.   Transferability.  No rights granted under this Agreement can be assigned or transferred, whether voluntarily or involuntarily, by operation of law or otherwise, except by will or the laws of descent and distribution.  In the event of any transfer or assignment of rights granted under this Agreement in accordance with this Section 6, the person or persons, if any, to whom such rights are transferred by will or by the laws of descent and distribution shall be treated after your death the same as you under this Agreement.  Any attempted transfer or assignment of rights under this Agreement prohibited under this Section 6 shall be null and void.

7.   Change in Control.  In the event of a Change in Control prior to end of the Performance Period, the Performance Period shall be deemed to end on the date of the Change in Control and you will vest as of such date in the greater of (I) the Performance Units at Target or (II) number of Performance Units determined by multiplying (i) the number of Performance Units that would have vested based on performance achieved through the end of such adjusted Performance Period, calculated in accordance with Schedule I and certified by the Committee and (ii) a fraction, the numerator of which is the number of days that elapsed between January 1, 2013 and the date of the Change in Control and the denominator of which is 1095.

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The vested Performance Units shall be paid in Common Stock or cash (based on the value of the Common Stock immediately prior to the Change in Control multiplied by the number of vested Performance Units), in the discretion of the Committee on the Settlement Date, which shall be no later than 10 business days after the date of the Change in Control.

8.   Adjustments.  As provided in Section 6.6 of the Plan, certain adjustments may be made to the Common Stock related to the Performance Units upon the occurrence of events or circumstances described in Section 6.6 of the Plan.  Without limiting the generality of the foregoing, and except as otherwise provided in the Plan, in the event of any merger, consolidation, reorganization, recapitalization, reclassification or other capital or corporate structure change of the Company, for all purposes references herein to Common Stock or to Performance Units shall mean and include all securities or other property (other than cash) that holders of Common Stock are entitled to receive in respect of Common Stock by reason of each such successive event, which securities or other property (other than cash) shall be treated in the same manner and shall be subject to the same restrictions as the underlying Performance Units.

9.   Withholding; Code Section 409A.  The Company has the right to deduct applicable taxes from any payment under this Agreement and withhold, at the Settlement Date or such other date as the Company may determine is appropriate, an appropriate number of shares of Common Stock for payment of required withholding taxes or to take such other action as may be necessary in the opinion of the Company to satisfy all obligations for withholding of such taxes. The Fair Market Value of the shares of Common Stock withheld for payment of required withholding taxes shall equal no more than the required minimum withholding taxes.  The Performance Units granted under this Agreement are intended to comply with or be exempt from Code Section 409A, and ambiguous provisions of this Agreement, if any, shall be construed and interpreted in a manner consistent with such intent.

10.   Notice.  Any written notice required or permitted by this Agreement shall be mailed, certified mail (return receipt requested) or hand-delivered.  Notice to the Company shall be addressed to the Company’s General Counsel at 13927 South Gessner Road, Missouri City, Texas 77489.  Notice to you shall be addressed to you at your most recent home address on record with the Company.  Notices are effective upon receipt.

11.   Requirements of Law.  The granting of Performance Units and the issuance of shares of Common Stock under the Plan will be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required.

12.   Miscellaneous.

(i)   The granting of this Award shall not give you any rights to similar grants in future years or any right to be retained in the employ or service of the Company or its Subsidiaries or interfere in any way with the right of the Company or any such Subsidiary to terminate your employment or services at any time, or your right to terminate your employment or services at any time.

(ii)   Notwithstanding anything to the contrary herein, if the Board or an appropriate committee thereof determines that any material misstatement of financial results or a Performance Goal has occurred as a result of your conduct, then the Board or appropriate committee may in its sole discretion require reimbursement of any compensation received by you as a result of any settlement of Performance Units that occurred during the one-year period prior to the date the Board first discovered the material misstatement.

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(iii)   If any term, provision, covenant or restriction contained in this Agreement is held by a court or a federal regulatory agency of competent jurisdiction to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions contained in this Agreement shall remain in full force and effect, and shall in no way be affected, impaired or invalidated.

(iv)   THIS AWARD SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS WITHOUT GIVING EFFECT TO THE PRINCIPLES OF CONFLICT OF LAWS.

(v)   This Award shall be binding upon and inure to the benefit of the Company and its successors and assigns.

(vi)   This Award, including the relevant provisions of the Plan, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings, both written and oral, with respect to the subject hereof.  This Award may not be amended, except by an instrument in writing signed by the Company and you.

(vii)   This Award may be executed in one or more counterparts, each of which shall be an original, but all of which together shall constitute one and the same instrument

GLOBAL GEOPHYSICAL SERVICES, INC.

_____________________________________

Richard. C. White

President and Chief Executive Officer

GRANTEE

_____________________________________

[NAME]

4

SCHEDULE I

GLOBAL GEOPHYSICAL SERVICES, INC.

2006 INCENTIVE COMPENSATION PLAN

2013 PERFORMANCE UNIT AWARD AGREEMENT

1.   Calculation of Vested Performance Units.  The number of Performance Units that shall vest as of the Vesting Date shall be equal to the product of (i) the Performance Units At Target and (ii) the Adjustment Factor (with any fractional shares rounded up to the next whole share).  For this purpose, the Adjustment Factor means the sum of (i) the Total Shareholder Return Adjustment Factor, (ii) the EBITDA Margin Adjustment Factor, (iii) the EBITDA Amount Adjustment Factor, (iv) the HSE Adjustment Factor and (v) the Debt Ratio Adjustment Factor.

2.   Calculation of Total Shareholder Return Adjustment Factor.  The Total Shareholder Return of the Company and of the Comparison Companies shall be calculated and certified by the Committee.  The ranking of the Company’s Total Shareholder Return as compared to the Total Shareholder Return of each Comparison Company shall determine the Total Shareholder Return Multiplier using the chart below.  The Total Shareholder Return Adjustment Factor shall be equal to the product of (i) the Total Shareholder Return Weighting and (ii) the Total Shareholder Return Multiplier.

Relative Performance Ranking	Total Shareholder Return Multiplier
1st	2.00
2nd	1.67
3rd	1.33
4th	1.00
5th	0.67
6th	0.33
7th	0.00

3.   Calculation of EBITDA Margin Adjustment Factor.  The Average Annual EBITDA Margin of the Company and of the Comparison Companies shall be calculated and certified by the Committee.  The ranking of the Company’s Average Annual EBITDA Margin as compared to the Average Annual EBITDA Margin of each Comparison Company shall determine the EBITDA Margin Multiplier using the chart below.  The EBITDA Margin Adjustment Factor shall be equal to the product of (i) the EBITDA Margin Weighting and (ii) the EBITDA Margin Multiplier.

Relative Performance Ranking	EBITDA Margin Multiplier
1st	2.00
2nd	1.67
3rd	1.33
4th	1.00
5th	0.67
6th	0.33
7th	0.00

4.   Calculation of EBITDA Amount Adjustment Factor.  The Average Annual EBITDA Amount of the Company shall be calculated and certified by the Committee.  The level of the Company’s Average Annual EBITDA Amount shall determine the EBITDA Amount Multiplier using the chart below.  The EBITDA Amount Multiplier for performance rankings between points on this chart shall be determined by linear interpolation between the values listed.  In no event shall the EBITDA Amount Multiplier exceed 2.00.  If the Average EBITDA Amount is below $60,000,000, the EBITDA Amount Multiplier shall be zero.  The EBITDA Amount Adjustment Factor shall be equal to the product of (i) the EBITDA Amount Weighting and (ii) the EBITDA Amount Multiplier.

Schedule I

Average Annual EBITDA Amount	EBITDA Amount Multiplier
$110,000,000	2.00
$60,000,000	0.00

5.   Calculation of HSE Adjustment Factor.  The HSE of the Company shall be calculated and certified by the Committee.  The level of the Company’s HSE shall determine the HSE Multiplier using the chart below.  The HSE Multiplier for performance rankings between points on this chart shall be determined by linear interpolation between the values listed.  In no event shall the HSE Multiplier exceed 2.00.  If the HSE is greater than 1.7, the HSE Multiplier shall be zero.  The HSE Adjustment Factor shall be equal to the product of (i) the HSE Weighting and (ii) the HSE Multiplier.

HSE	HSE Multiplier
1.40	2.00
1.70	0.00

6.   Calculation of Debt Ratio Adjustment Factor.  The Debt Ratio of the Company shall be calculated and certified by the Committee.  The level of the Company’s Debt Ratio shall determine the Debt Ratio Multiplier using the chart below.  The Debt Ratio Multiplier for performance rankings between points on this chart shall be determined by linear interpolation between the values listed.  In no event shall the Debt Ratio Multiplier exceed 2.00.  If the Debt Ratio is greater than 70%, the Debt Ratio Multiplier shall be zero.  The Debt Ratio Adjustment Factor shall be equal to the product of (i) the Debt Ratio Weighting and (ii) the Debt Ratio Multiplier.

Debt Ratio	Debt Ratio Multiplier
30%	2.00
65%	0.00

7.   Definitions.

(i)   “Average Annual EBITDA Amount” means the average annual EBITDA Amount over the Performance Period.

(ii)   “Average Annual EBITDA Margin” means the average annual EBITDA Margin over the Performance Period.

(iii)   “Beginning Price” means the average closing price of a share of common stock for the 30 consecutive trading dayperiod including and prior to January 1, 2013.

(iv)   “Comparison Companies” means Compagnie Generale de Geophysique – Veritas, Dawson Geophysical Co., Geospace Technologies Corp., ION Geophysical Corp., Mitcham Industries Inc. and TGC Industries Inc; provided, however, that the Committee may modify the list of Comparison Companies if a Comparison Company is no longer, in the Committee’s discretion, a reasonable comparison to the Company (e.g., due to merger, bankruptcy or other change of circumstance of a Comparison Company).

Schedule I

(v)   “Debt Ratio” means Total Debt divided by the sum of Total Debt plus Shareholder’s Equity.

(vi)   “Debt Ratio Adjustment Factor” means the adjustment factor calculated in accordance with Section 6 of this Schedule I.

(vii)   “Debt Ratio Multiplier” means the multiplier determined in accordance with Section 6 of this Schedule I.

(viii)   “Debt Ratio Weighting” means 10%.

(ix)   “Dividends” means the sum of all ordinary and extraordinary dividends paid during the Performance Period with respect to the applicable share of common stock.

(x)   “EBITDA Amount” means earnings before interest, taxes, depreciation and amortization as adjusted for multi-client cash investment and other non-cash items.

(xi)   “EBITDA Amount Adjustment Factor” means the adjustment factor calculated in accordance with Section 4 of this Schedule I.

(xii)   “EBITDA Amount Multiplier” means the multiplier determined in accordance with Section 4 of this Schedule I.

(xiii)   “EBITDA Amount Weighting” means 25%.

(xiv)   “EBITDA Margin” means EBITDA Amount divided by Total Revenue.

(xv)   “EBITDA Margin Adjustment Factor” means the adjustment factor calculated in accordance with Section 3 of this Schedule I.

(xvi)   “EBITDA Margin Multiplier” means the multiplier determined in accordance with Section 3 of this Schedule I.

(xvii)   “EBITDA Margin Weighting” means 25%.

(xviii)   “Ending Price” means the average closing price of a share of common stock for the 30 consecutive trading day period including and prior to December 31, 2015.

(xix)   “HSE” means the Total Recordable Incident Rate (TRIR) which is the number of recordable injuries in a calendar year multiplied by 200,000 (100 employees working 2,000 hours per year) divided by the total man-hours actually worked during such year.

(xx)   “HSE Factor” means the adjustment factor calculated in accordance with Section 5 of this Schedule I.

(xxi)   “HSE Multiplier” means the multiplier determined in accordance with Section 5 of this Schedule I.

(xxii)   “HSE Weighting” means 10%.

Schedule I

(xxiii)   “Shareholder’s Equity” means the amount as reported for the relevant measurement period pursuant to the Company’s audited financial statements and accompanying notes as filed on Form 10-K.

(xxiv)   “Total Debt” means the amount as reported for the relevant measurement period pursuant to the Company’s audited financial statements and accompanying notes as filed on Form 10-K.

(xxv)   “Total Revenue” means the amount as reported for the relevant measurement period pursuant to the Company’s audited financial statements and accompanying notes as filed on Form 10-K.

(xxvi)   “Total Shareholder Return” means a fraction, the numerator of which is the Ending Price plus Dividends minus the Beginning Price, and the denominator of which is the Beginning Price.

(xxvii)   “Total Shareholder Return Adjustment Factor” means the adjustment factor calculated in accordance with Section 2 of this Schedule I.

(xxviii)   “Total Shareholder Return Multiplier” means the multiplier determined in accordance with Section 2 of this Schedule I.

(xxix)   “Total Shareholder Return Weighting” means 30%.

Schedule I

EX-31.1

Exhibit 31.1

CERTIFICATION BY CHIEF EXECUTIVE OFFICER

PURSUANT TO RULES 13a-14(a) AND 15d-14(a)

OF THE SECURITIES EXCHANGE ACT OF 1934

(Section 302 of the Sarbanes-Oxley Act of 2002)

I, Richard C. White, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Global Geophysical Services, Inc.

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report.

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report.

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f))for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c)	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 13, 2013	/s/ Richard C. White
	Richard C. White
	President and Chief Executive Officer

EX-31.2

Exhibit 31.2

CERTIFICATION BY CHIEF FINANCIAL OFFICER

PURSUANT TO RULES 13a-14(a) AND 15d-14(a)

OF THE SECURITIES EXCHANGE ACT OF 1934

(Section 302 of the Sarbanes-Oxley Act of 2002)

I, P. Mathew Verghese, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Global Geophysical Services, Inc.

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report.

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report.

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f))for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c)	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 13, 2013	/s/ P. Mathew Verghese
	P. Mathew Verghese
	Senior Vice President and Chief Financial Officer

EX-32.1

Exhibit 32.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO 18 U.S.C. § 1350

(Section 906 of Sarbanes-Oxley Act of 2002)

In connection with the Quarterly Report of Global Geophysical Services, Inc. (the “Company”) on Form 10-Q for the period ended June 30, 2013, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Richard C. White, President and Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)           The Report fully complies with the requirements of section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934; and

(2)           The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

Date: August 13, 2013	/s/ Richard C. White
	Richard C. White
	President and Chief Executive Officer

EX-32.2

Exhibit 32.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO 18 U.S.C. § 1350

(Section 906 of Sarbanes-Oxley Act of 2002)

In connection with the Quarterly Report of Global Geophysical Services, Inc. (the “Company”) on Form 10-Q for the period ended June 30, 2013, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, P. Mathew Verghese, Senior Vice President and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)           The Report fully complies with the requirements of section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934; and

(2)           The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

Date: August 13, 2013	/s/ P. Mathew Verghese
	P. Mathew Verghese
	Senior Vice President and Chief Financial Officer

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Note 11 - Stock-based Compensation

6 Months Ended

Jun. 30, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

NOTE 11 - STOCK-BASED COMPENSATION

The Company follows ASC 718 “Compensation – Stock Compensation” for share-based payments which requires all stock-based payments, including stock options, to be recognized as an operating expense over the vesting period, based on their grant date fair values.

In July 2006, the Company’s board of directors and stockholders adopted the Global Geophysical Services, Inc. 2006 Incentive Compensation Plan (the “2006 Incentive Plan”).  The 2006 Incentive Plan provides for a variety of incentive awards, including nonstatutory stock options, incentive stock options within the meaning of Section 422 of the Internal Revenue Code, stock appreciation rights, restricted stock awards, restricted stock unit awards, performance-based awards, and other stock-based awards.  A total of 9,203,058 shares of common stock are reserved for issuance under the 2006 Incentive Plan.  

Stock Options:  The Company estimates the fair value of each stock option on the date of grant using the Black-Scholes-Merton valuation model.  The volatility is based on expected volatility over the expected life of eighty-four months.  As the Company has not historically declared dividends, the dividend yield used in the calculation is zero. Actual value realized, if any, is dependent on the future performance of the Company’s common stock and overall stock market conditions.  There can be no assurance the value realized by an optionee will be at or near the value estimated by the Black-Scholes-Merton model.

The Company did not grant any stock options during the six months ended June 30, 2012. The following assumptions were used for the six month period ended June 30, 2013:

	Six Month Period Ended June 30, 2013
Risk-free interest rate		1.19	%
Expected lives (in years)		7
Expected dividend yield		0.00	%
Expected volatility		78.76	%

The computation of expected volatility during the six months ended June 30, 2013 was based on historical volatility. Historical volatility was calculated from historical data for the time approximately equal to the expected term of the option award starting from the grant date. The risk-free interest rate assumption is based upon the U.S. Treasury yield curve in effect at the time of grant for the period corresponding with the expected life of the option.

Option activity for the six months ended June 30, 2013 is summarized as follows:

	Number of Optioned Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term in Years		Weighted Average Optioned Grant Date Fair Value
Balance as of December 31, 2012		1,893,200		$	22.87			$	5.30
Expired		-			-				-
Granted		1,000,000			3.51				3.51
Exercised		-			-				-
Forfeited		(272,200	)		22.80				5.81
Balance at June 30, 2013		2,621,000		$	15.49		5.06	$	4.56
Exercisable as of June 30, 2013		1,505,075		$	22.61		5.04	$	4.97

Through June 30, 2013, a total of 5,830,400 options have been granted and 3,209,400 have been forfeited.

Compensation expense associated with stock options for the three months ended June 30, 2013 and 2012 was $0.5 million and $0.3 million, respectively, and $0.8 million and $0.7 million for the six months ended June 30, 2013 and 2012, respectively, and was included in Selling, General and Administrative expenses in the Consolidated Statements of Operations. At June 30, 2013 and 2012, the Company had 1,115,925 and 412,250 of non-vested stock option awards, respectively. The total cost of non-vested stock option awards which the Company had not yet recognized at June 30, 2013 and 2012 was $3.0 million and $2.1 million, respectively.  Such amount at June 30, 2013 is expected to be recognized approximately over a period of four years.

Restricted Stock:  To encourage retention and performance, the Company granted certain employees and consultants restricted shares of common stock with a fair value per share determined by multiplying the stock price on the date of the award by the number of shares awarded. Restricted stock activity for the six months ended June 30, 2013 is summarized as follows:

	Number of Nonvested Restricted Share Awards			Weighted Average Grant Date Fair Value
Balance as of December 31, 2012		976,976		$	6.72
Granted		490,147			3.45
Vested		(165,255	)		11.20
Forfeited		(185,321	)		9.60
Balance at June 30, 2013		1,116,547		$	4.14

Compensation expense associated with restricted stock for the three months ended June 30, 2013 and 2012 was $0.9 million and $1.2 million, respectively, and $2.6 million and $2.3 million for the six months ended June 30, 2013 and 2012, respectively, and was included in Selling, General and Administrative expenses in the Consolidated Statements of Operations. The total cost of non-vested stock awards which the Company has not yet recognized at June 30, 2013 and 2012 was approximately $4.8 million and $7.4 million, respectively. This amount is expected to be recognized over the next three years.

Employee Stock Purchase Plan: The Company maintains an Employee Stock Purchase Plan (“ESPP”), under which employees can choose to have a portion of their earnings withheld, subject to certain restrictions, to purchase the Company's common stock. The purchase price of the stock is 85% of the lower of the stock price at the beginning or end of the plan period at three-month intervals. The expense related to the ESPP for the three and six months ended June 30, 2013 and 2012 was immaterial to the consolidated financial statements. 

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Note 11 - Stock-based Compensation (Details) - Assumptions used in valuing stock options	6 Months Ended
	Jun. 30, 2013
Assumptions used in valuing stock options [Abstract]
Risk-free interest rate	1.19%
Expected lives (in years)	7 years
Expected dividend yield	0.00%
Expected volatility	78.76%

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Consolidated Statements Of Operations (Unaudited) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
REVENUES	$ 63,352	$ 97,372	$ 146,761	$ 193,483
OPERATING EXPENSES	55,298	71,975	127,668	132,668
GROSS PROFIT	8,054	25,397	19,093	60,815
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES	20,609	12,086	36,649	27,626
INCOME (LOSS) FROM OPERATIONS	(12,555)	13,311	(17,556)	33,189
OTHER INCOME (EXPENSE)
Interest expense, net	(8,430)	(7,934)	(16,799)	(15,049)
Foreign exchange gain (loss)	(133)	(939)	44	(1,049)
Other expense, net	(185)	(236)	(228)	(420)
TOTAL OTHER EXPENSE	(8,748)	(9,109)	(16,983)	(16,518)
INCOME (LOSS) BEFORE INCOME TAXES	(21,303)	4,202	(34,539)	16,671
INCOME TAX EXPENSE (BENEFIT)	(5,402)	1,706	(6,972)	7,455
INCOME (LOSS) AFTER INCOME TAXES	(15,901)	2,496	(27,567)	9,216
NET LOSS, attributable to non-controlling interests	(115)	(50)	(239)	(260)
NET INCOME (LOSS), attributable to common shareholders	$ (15,786)	$ 2,546	$ (27,328)	$ 9,476
INCOME (LOSS) PER COMMON SHARE
Basic (in Dollars per share)	$ (0.42)	$ 0.07	$ (0.72)	$ 0.26
Diluted (in Dollars per share)	$ (0.42)	$ 0.07	$ (0.72)	$ 0.26
WEIGHTED AVERAGE SHARES OUTSTANDING
Basic (in Shares)	37,985	37,247	37,871	37,143
Diluted (in Shares)	37,985	37,247	37,871	37,143

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Note 4 - Multi-Client Library

6 Months Ended

Jun. 30, 2013

Multi Client Library [Abstract]

Multi Client Library [Text Block]

NOTE 4 - MULTI-CLIENT LIBRARY

Multi-client library included the following (in thousands):

	June 30, 2013		December 31, 2012
	(unaudited)
Multi-client library, at cost	$	709,423	$	655,477
Less: accumulated Multi-client library amortization		418,418		346,410
Multi-client library, net	$	291,005	$	309,067

Multi-client library amortization expense for the three months ended June 30, 2013 and 2012 was $24.4 million and $25.8 million, respectively, and $72.0 million and $48.1 million for the six months ended June 30, 2013 and 2012, respectively.

The Company entered into a strategic License and Marketing Agreement dated as of March 28, 2013 (“the Agreement”) with SEI-GPI JV LLC, a limited liability company jointly owned by Seismic Exchange, Inc. and Geophysical Pursuit, Inc., hereinafter referred to as “SEI/GPI”. Under the terms of the Agreement, SEI/GPI, as licensee, will provide exclusive marketing services for a substantial portion of the Company’s North American onshore data library. The Agreement provided for a $25.0 million non-refundable license fee payable upon execution of the Agreement. For the three and six months ended June 30, 2013, the Company recorded late sale revenues of $1.0 million and $24.3 million, respectively, representing the portion of the license fee related to completed library assets. The remaining $0.7 million, representing the uncompleted portion of ongoing surveys, is recorded as deferred revenue and will be recognized in accordance with the Company’s proportionate performance revenue recognition policy. SEI/GPI receives, as compensation for marketing the data, a commission on all gross revenues resulting from the sub-licensing of the data subject to the Agreement. Revenues for sub-licenses issued by SEI/GPI as licensee pursuant to the Agreement are accounted for at gross, with the commission being recorded and classified as Selling, General and Administrative expense in the Company’s Consolidated Statements of Operations. For the three and six months ended June 30, 2013, the Company recorded $5.9 million of commission expense.

In connection with the Agreement, the Company evaluated certain Multi-client surveys for impairment. The impairment test compared the future cash flows from the surveys to their carrying value. If estimated future net cash flows exceeded the carrying value of the Multi-client asset, no impairment was required. If the carrying value exceeded estimated future net cash flows, the estimated future net cash flows were discounted to determine the survey’s estimated fair value. The variance between the discounted estimates of future net cash flows and the carrying value of respective Multi-client survey was recorded as impairment and the Multi-client survey’s carrying value was correspondingly reduced. For the three and six months ended June 30, 2013, the Company recorded an impairment charge of zero and $13.0 million, respectively, classified in the Consolidated Statements of Operations as Multi-client library amortization expense.

For the six months ended June 30, 2013, the Company recorded $13.8 million of amortization expense related to the $24.3 million of late sale revenues.

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Note 2 - Selected Balance Sheet Accounts (Tables)

6 Months Ended

Jun. 30, 2013

Disclosure Text Block Supplement [Abstract]

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]

	June 30, 2013		December 31, 2012
	(unaudited)
Assets held for sale	$	4,268	$	4,878
Prepaid expenses		3,798		1,181
Mobilization costs, net		4,830		998
Note receivable, current portion		806		1,750
Insurance proceeds receivable		2,269		-
Current deferred tax asset		12,673		12,673
Total prepaid expenses and other current assets	$	28,644	$	21,480

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

	June 30, 2013			December 31, 2012
	(unaudited)
Accounts receivable, trade	$	22,226		$	38,511
Unbilled		25,067			16,321
Allowance for doubtful accounts		(4,140	)		(3,066	)
Accounts receivable, net	$	43,153		$	51,766

Schedule of Other Assets [Table Text Block]

	June 30, 2013		December 31, 2012
	(unaudited)
Debt issuance costs, net	$	5,224	$	5,689
Investment in unconsolidated affiliate		463		441
Other		374		271
Total other assets	$	6,061	$	6,401

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Note 12 - Earnings (Loss) Per Share (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,621,000	2,116,400	2,621,000	2,116,400

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Note 12 - Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NOTE 12 - EARNINGS (LOSS) PER SHARE

The Company follows ASC 260 “Earnings Per Share” for share-based payments which are considered as participating securities. All share-based payment awards that contained non-forfeitable rights to dividends, whether paid or unpaid, were designated as participating securities and included in the computation of earnings per share (“EPS”).

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data):

	Three Month Period Ended June 30,					Six Month Period Ended June 30,
	2013			2012		2013			2012
	(unaudited)					(unaudited)
Net income (loss), attributable to common shareholders	$	(15,786	)	$	2,546	$	(27,328	)	$	9,476
Basic weighted average shares outstanding		37,985			37,247		37,871			37,143
Diluted
Shares issuable from the assumed conversion of stock options		-			-		-			-
Total		37,985			37,247		37,871			37,143
Basic income (loss) per share	$	(0.42	)	$	0.07	$	(0.72	)	$	0.26
Diluted income (loss) per share	$	(0.42	)	$	0.07	$	(0.72	)	$	0.26

As of June 30, 2013 and 2012, 2,621,000 and 2,116,400 out-of-the-money stock options have been excluded from diluted earnings per share because they are considered anti-dilutive.

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Note 8 - Long-term Debt (Details) (USD $) In Millions, unless otherwise specified	1 Months Ended		12 Months Ended
	Apr. 27, 2012	Mar. 28, 2012	May 01, 2017	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2014	Sep. 30, 2013	Jun. 30, 2013	Dec. 31, 2012	Sep. 28, 2012	Jun. 09, 2011	Apr. 30, 2010	Apr. 27, 2010	Feb. 28, 2007	Sep. 28, 2012 Amount To Be Exchanged [Member]	Sep. 28, 2012 Interest Rate On Debt To Be Exchanged [Member]	Jun. 30, 2013 STRM LLC [Member]	Dec. 31, 2012 STRM LLC [Member]	Jul. 20, 2012 Original Borrowing Capacity Under Third Amendment [Member]	May 01, 2013 New Borrowing Capacity Under Third Amendment [Member]	Jul. 20, 2012 Incremental Increase In Borrowing Capacity Under Third Amendment [Member]	Jun. 30, 2013 Foreign Loan Amounts [Member]	Dec. 31, 2012 Foreign Loan Amounts [Member]	Jun. 30, 2013 Foreign Loan Interest Rates [Member]	Dec. 31, 2012 Foreign Loan Interest Rates [Member]
Note 8 - Long-term Debt (Details) [Line Items]
Debt Instrument, Face Amount		$ 50.0	$ 250.0										$ 200.0		$ 50.0
Debt Instrument, Interest Rate, Stated Percentage		10.50%								10.50%			10.50%			10.50%
Proceeds from Issuance of Long-term Debt	188.1	47.0
Redemption Price Percentage Of Principle Of Debt			100.00%	102.625%	105.25%
Percentage Face Value								101.00%
Accumulated Amortization, Deferred Finance Costs								2.8	2.0
Line of Credit Facility, Maximum Borrowing Capacity						67.5	80.0				70.0	50.0		10.0					85.0	67.5	10.0
Percentage Of Stock Of Foreign Subsidiaries								66.00%
Line of Credit Facility, Amount Outstanding								79.9
Notes Payable to Bank								2.1	0.8								0.6	0.8				10.2	10.4
Debt, Weighted Average Interest Rate								3.40%	3.40%															9.30%	9.10%
Letters of Credit Outstanding, Amount								$ 1.4	$ 1.8

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Note 12 - Earnings (Loss) Per Share (Details) - Computation of Basic and Diluted Earnings Per Share (unaudited) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Note 12 - Earnings (Loss) Per Share (Details) - Computation of Basic and Diluted Earnings Per Share (unaudited) [Line Items]
Net income (loss), attributable to common shareholders (in Dollars)	$ (15,786)	$ 2,546	$ (27,328)	$ 9,476
Basic weighted average shares outstanding	37,985,000	37,247,000	37,871,000	37,143,000
Total	2,621,000	2,116,400	2,621,000	2,116,400
Basic income (loss) per share (in Dollars per share)	$ (0.42)	$ 0.07	$ (0.72)	$ 0.26
Diluted income (loss) per share (in Dollars per share)	$ (0.42)	$ 0.07	$ (0.72)	$ 0.26
Diluted Securities [Member]
Note 12 - Earnings (Loss) Per Share (Details) - Computation of Basic and Diluted Earnings Per Share (unaudited) [Line Items]
Total	37,985,000	37,247,000	37,871,000	37,143,000

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Note 2 - Selected Balance Sheet Accounts (Details) - Accounts Receivable, Net (June 30, 2013 unaudited) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2012
Accounts Receivable, Net (June 30, 2013 unaudited) [Abstract]
Accounts receivable, trade	$ 22,226	$ 38,511
Unbilled	25,067	16,321
Allowance for doubtful accounts	(4,140)	(3,066)
Accounts receivable, net	$ 43,153	$ 51,766

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Note 6 - Goodwill And Other Intangibles (Tables)

6 Months Ended

Jun. 30, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets [Table Text Block]

	June 30, 2013		December 31, 2012
	(unaudited)
Customer list	$	3,984	$	3,984
Trademark		1,759		1,759
Patents		3,913		3,913
Non-compete agreements		1,057		1,057
Intellectual property		9,154		8,883
		19,867		19,596
Less: accumulated amortization		8,122		6,513
Total intangible assets, net		11,745		13,083
Goodwill		12,381		12,381
Total goodwill and other intangibles, net	$	24,126	$	25,464

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Note 5 - Property And Equipment (Tables)

6 Months Ended

Jun. 30, 2013

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]

	June 30, 2013		December 31, 2012
	(unaudited)
Machinery and equipment	$	302,195	$	308,039
Computers and software		19,658		19,661
Buildings		13,601		13,601
Boats		7,634		7,634
Land		2,157		2,157
Furniture and fixtures		103		103
		345,348		351,195
Less: accumulated depreciation		266,220		258,248
		79,128		92,947
Construction in process		12,374		7,225
Property and equipment, net	$	91,502	$	100,172

Schedule Of Depreciation [Table Text Block]

	Three Month Period Ended June 30,				Six Month Period Ended June 30,
	2013		2012		2013		2012
	(unaudited)				(unaudited)
Gross depreciation expense	$	9,454	$	9,519	$	18,486	$	19,584
Less: capitalized depreciation for Multi-client library		895		3,117		2,591		6,076
Depreciation (net)	$	8,559	$	6,402	$	15,895	$	13,508

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Note 6 - Goodwill And Other Intangibles (Details) - Goodwill and Other Intangibles (June 30, 2013 unaudited) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2012
Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets	$ 19,867	$ 19,596
Less: accumulated amortization	8,122	6,513
Total intangible assets, net	11,745	13,083
Goodwill	12,381	12,381
Total goodwill and other intangibles, net	24,126	25,464
Customer Lists [Member]
Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets	3,984	3,984
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets	1,759	1,759
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets	3,913	3,913
Noncompete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets	1,057	1,057
Intellectual Property [Member]
Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets	$ 9,154	$ 8,883

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Note 16 - Guarantees Of Registered Securities (Tables)

6 Months Ended

Jun. 30, 2013

Guarantees [Abstract]

Condensed Balance Sheet [Table Text Block]

	As of June 30, 2013 (Unaudited)
	Guarantors		Non-guarantors			Eliminations			Consolidated
BALANCE SHEET
ASSETS
Current assets	$	137,377	$	15,697		$	(63,316	)	$	89,758
Multi-client library, net		289,663		1,342			-			291,005
Property and equipment, net		89,499		2,003			-			91,502
Investment in subsidiaries		1		-			(1	)		-
Intercompany accounts		15,191		(15,191	)		-			-
Other non-current assets		29,958		229			-			30,187
TOTAL ASSETS	$	561,689	$	4,080		$	(63,317	)	$	502,452
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities	$	151,299	$	63,735		$	(63,316	)	$	151,718
Long-term debt and capital lease obligations, net of current portion and unamortized discount		247,685		-			-			247,685
Deferred income tax and other non-current liabilities		19,112		-			-			19,112
TOTAL LIABILITIES		418,096		63,735			(63,316	)		418,515
Stockholders' equity		143,593		(59,655	)		(1	)		83,937
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	561,689	$	4,080		$	(63,317	)	$	502,452

	As of December 31, 2012
	Guarantors		Non-guarantors			Eliminations			Consolidated
BALANCE SHEET
ASSETS
Current assets	$	150,864	$	21,761		$	(60,854	)	$	111,771
Multi-client library, net		309,031		36			-			309,067
Property and equipment, net		97,129		3,043			-			100,172
Investment in subsidiaries		1		-			(1	)		-
Intercompany accounts		20,589		(20,589	)		-			-
Other non-current assets		31,728		137			-			31,865
TOTAL ASSETS	$	609,342	$	4,388		$	(60,855	)	$	552,875
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities	$	102,568	$	58,612		$	(60,854	)	$	100,326
Long-term debt and capital lease obligations, net of current portion and unamortized discount		315,426		-			-			315,426
Deferred income tax and other non-current liabilities		29,575		-			-			29,575
TOTAL LIABILITIES		447,569		58,612			(60,854	)		445,327
Stockholders' equity		161,773		(54,224	)		(1	)		107,548
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	609,342	$	4,388		$	(60,855	)	$	552,875

Condensed Income Statement [Table Text Block]

	Three Month Period Ended June 30, 2013 (Unaudited)
	Guarantors			Non-guarantors			Eliminations			Consolidated
STATEMENTS OF OPERATIONS
Revenues	$	49,965		$	15,075		$	(1,688	)	$	63,352
Operating expenses		44,065			12,770			(1,537	)		55,298
Selling, general and administrative expenses		17,393			3,367			(151	)		20,609
Loss from operations		(11,493	)		(1,062	)		-			(12,555	)
Interest expense, net		(8,387	)		(43	)		-			(8,430	)
Other income (expense), net		44			(362	)		-			(318	)
Loss before income taxes		(19,836	)		(1,467	)		-			(21,303	)
Income tax expense (benefit)		(5,966	)		564			-			(5,402	)
Loss after income taxes		(13,870	)		(2,031	)		-			(15,901	)
Net loss, attributable to noncontrolling interests		(115	)		-			-			(115	)
Net loss, attributable to common shareholders	$	(13,755	)	$	(2,031	)	$	-		$	(15,786	)

	Three Month Period Ended June 30, 2012 (Unaudited)
	Guarantors			Non-guarantors			Eliminations			Consolidated
STATEMENTS OF OPERATIONS
Revenues	$	59,787		$	40,667		$	(3,082	)	$	97,372
Operating expenses		41,181			33,568			(2,774	)		71,975
Selling, general and administrative expenses		7,669			4,725			(308	)		12,086
Income from operations		10,937			2,374			-			13,311
Interest income (expense), net		(7,935	)		1			-			(7,934	)
Other income (expense), net		817			(1,992	)		-			(1,175	)
Income before income taxes		3,819			383			-			4,202
Income tax expense		995			711			-			1,706
Income (loss) after income taxes		2,824			(328	)		-			2,496
Net loss, attributable to noncontrolling interests		(50	)		-			-			(50	)
Net income (loss), attributable to common shareholders	$	2,874		$	(328	)	$	-		$	2,546

	Six Month Period Ended June 30, 2013 (Unaudited)
	Guarantors			Non-guarantors			Eliminations			Consolidated
STATEMENTS OF OPERATIONS
Revenues	$	126,323		$	23,465		$	(3,027	)	$	146,761
Operating expenses		109,785			20,564			(2,681	)		127,668
Selling, general and administrative expenses		30,296			6,699			(346	)		36,649
Loss from operations		(13,758	)		(3,798	)		-			(17,556	)
Interest expense, net		(16,648	)		(151	)		-			(16,799	)
Other income (expense), net		72			(256	)		-			(184	)
Loss before income taxes		(30,334	)		(4,205	)		-			(34,539	)
Income tax expense (benefit)		(8,198	)		1,226			-			(6,972	)
Loss after income taxes		(22,136	)		(5,431	)		-			(27,567	)
Net loss, attributable to noncontrolling interests		(239	)		-			-			(239	)
Net loss, attributable to common shareholders	$	(21,897	)	$	(5,431	)	$	-		$	(27,328	)

	Six Month Period EndedJune 30, 2012 (Unaudited)
	Guarantors			Non-guarantors			Eliminations			Consolidated
STATEMENTS OF OPERATIONS
Revenues	$	120,790		$	78,792		$	(6,099	)	$	193,483
Operating expenses		67,807			70,270			(5,409	)		132,668
Selling, general and administrative expenses		14,917			13,399			(690	)		27,626
Income (loss) from operations		38,066			(4,877	)		-			33,189
Interest income (expense), net		(15,052	)		3			-			(15,049	)
Other income (expense), net		390			(1,859	)		-			(1,469	)
Income (loss) before income taxes		23,404			(6,733	)		-			16,671
Income tax expense		5,320			2,135			-			7,455
Income (loss) after income taxes		18,084			(8,868	)		-			9,216
Net loss, attributable to noncontrolling interests		(260	)		-			-			(260	)
Net income (loss), attributable to common shareholders	$	18,344		$	(8,868	)	$	-		$	9,476

Condensed Cash Flow Statement [Table Text Block]

	Six Month Period Ended June 30, 2013 (Unaudited)
	Guarantors			Non-guarantors			Eliminations		Consolidated
STATEMENTS OF CASH FLOWS
Net cash provided by (used in) operating activities	$	42,338		$	(2,177	)	$	-	$	40,161
Net cash used in investing activities		(50,652	)		(2,060	)		-		(52,712	)
Net cash provided by (used in) financing activities		(706	)		579			-		(127	)
Net decrease in cash and cash equivalents	$	(9,020	)	$	(3,658	)	$	-	$	(12,678	)

	Six Month Period EndedJune 30, 2012 (Unaudited)
	Guarantors			Non-guarantors			Eliminations		Consolidated
STATEMENTS OF CASH FLOWS
Net cash provided by operating activities	$	59,328		$	488		$	-	$	59,816
Net cash used in investing activities		(85,057	)		(86	)		-		(85,143	)
Net cash provided by (used in) financing activities		28,983			(1,241	)		-		27,742
Net increase (decrease) in cash and cash equivalents	$	3,254		$	(839	)	$	-	$	2,415

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Note 4 - Multi-Client Library (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Note 4 - Multi-Client Library (Details) [Line Items]
Multi Client Library Amortization	$ 24.4	$ 25.8	$ 72.0	$ 48.1
Proceeds From Multi Client Library	25.0
Multi Client Library Revenue	1.0		24.3
Deferred Revenue, Additions			0.7
Multi Client Library Commission Expense	5.9		5.9
Late Sale Revenues [Member]
Note 4 - Multi-Client Library (Details) [Line Items]
Multi Client Library Amortization	13.8
Multi Client Library Revenue	24.3
Multi-Client Library [Member]
Note 4 - Multi-Client Library (Details) [Line Items]
Multi Client Library Impairment	$ 0		$ 13.0

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Note 8 - Long-term Debt (Details) - Long-Term Debt (USD $) In Thousands, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2012
Debt Instrument [Line Items]
Long-Term Debt	$ 342,831	$ 341,070
Less: unamortized discount	6,209	6,850
	336,622	334,220
Less: current portion	92,431	22,970
Long-term debt, net of current portion and unamortized discount	244,191	311,250
Senior Notes [Member]
Debt Instrument [Line Items]
Long-Term Debt	250,000	250,000
Line of Credit [Member]
Debt Instrument [Line Items]
Long-Term Debt	79,915	79,060
Loans Payable [Member]
Debt Instrument [Line Items]
Long-Term Debt	10,781	11,204
Notes Payable Insurnance [Member]
Debt Instrument [Line Items]
Long-Term Debt	$ 2,135	$ 806

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Note 12 - Earnings (Loss) Per Share (Tables)

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	Three Month Period Ended June 30,					Six Month Period Ended June 30,
	2013			2012		2013			2012
	(unaudited)					(unaudited)
Net income (loss), attributable to common shareholders	$	(15,786	)	$	2,546	$	(27,328	)	$	9,476
Basic weighted average shares outstanding		37,985			37,247		37,871			37,143
Diluted
Shares issuable from the assumed conversion of stock options		-			-		-			-
Total		37,985			37,247		37,871			37,143
Basic income (loss) per share	$	(0.42	)	$	0.07	$	(0.72	)	$	0.26
Diluted income (loss) per share	$	(0.42	)	$	0.07	$	(0.72	)	$	0.26

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Note 16 - Guarantees Of Registered Securities (Details) - Separate Condensed Consolidating Statements of Cash Flows (unaudited) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
STATEMENTS OF CASH FLOWS
Net cash provided by (used in) operating activities	$ 40,161	$ 59,816
Net cash used in investing activities	(52,712)	(85,143)
Net cash provided by (used in) financing activities	(127)	27,742
Net increase (decrease) in cash and cash equivalents	(12,678)	2,415
Guarantors [Member]
STATEMENTS OF CASH FLOWS
Net cash provided by (used in) operating activities	42,338	59,328
Net cash used in investing activities	(50,652)	(85,057)
Net cash provided by (used in) financing activities	(706)	28,983
Net increase (decrease) in cash and cash equivalents	(9,020)	3,254
Non Guarantors [Member]
STATEMENTS OF CASH FLOWS
Net cash provided by (used in) operating activities	(2,177)	488
Net cash used in investing activities	(2,060)	(86)
Net cash provided by (used in) financing activities	579	(1,241)
Net increase (decrease) in cash and cash equivalents	(3,658)	(839)
Consolidated [Member]
STATEMENTS OF CASH FLOWS
Net cash provided by (used in) operating activities	40,161	59,816
Net cash used in investing activities	(52,712)	(85,143)
Net cash provided by (used in) financing activities	(127)	27,742
Net increase (decrease) in cash and cash equivalents	$ (12,678)	$ 2,415

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Note 16 - Guarantees Of Registered Securities (Details) - Separate Condensed Consolidating Statements of Operations (unaudited) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
STATEMENTS OF OPERATIONS
Revenues	$ 63,352	$ 97,372	$ 146,761	$ 193,483
Operating expenses	55,298	71,975	127,668	132,668
Selling, general and administrative expenses	20,609	12,086	36,649	27,626
Income (loss) from operations	(12,555)	13,311	(17,556)	33,189
Income (loss) before income taxes	(21,303)	4,202	(34,539)	16,671
Income tax expense	(5,402)	1,706	(6,972)	7,455
Income (loss) after income taxes	(15,901)	2,496	(27,567)	9,216
Net loss, attributable to noncontrolling interests	(115)	(50)	(239)	(260)
Net income (loss), attributable to common shareholders	(15,786)	2,546	(27,328)	9,476
Guarantors [Member]
STATEMENTS OF OPERATIONS
Revenues	49,965	59,787	126,323	120,790
Operating expenses	44,065	41,181	109,785	67,807
Selling, general and administrative expenses	17,393	7,669	30,296	14,917
Income (loss) from operations	(11,493)	10,937	(13,758)	38,066
Interest income (expense), net	(8,387)	(7,935)	(16,648)	(15,052)
Other income (expense), net	44	817	72	390
Income (loss) before income taxes	(19,836)	3,819	(30,334)	23,404
Income tax expense	(5,966)	995	(8,198)	5,320
Income (loss) after income taxes	(13,870)	2,824	(22,136)	18,084
Net loss, attributable to noncontrolling interests	(115)	(50)	(239)	(260)
Net income (loss), attributable to common shareholders	(13,755)	2,874	(21,897)	18,344
Non Guarantors [Member]
STATEMENTS OF OPERATIONS
Revenues	15,075	40,667	23,465	78,792
Operating expenses	12,770	33,568	20,564	70,270
Selling, general and administrative expenses	3,367	4,725	6,699	13,399
Income (loss) from operations	(1,062)	2,374	(3,798)	(4,877)
Interest income (expense), net	(43)	1	(151)	3
Other income (expense), net	(362)	(1,992)	(256)	(1,859)
Income (loss) before income taxes	(1,467)	383	(4,205)	(6,733)
Income tax expense	564	711	1,226	2,135
Income (loss) after income taxes	(2,031)	(328)	(5,431)	(8,868)
Net income (loss), attributable to common shareholders	(2,031)	(328)	(5,431)	(8,868)
Eliminations [Member]
STATEMENTS OF OPERATIONS
Revenues	(1,688)	(3,082)	(3,027)	(6,099)
Operating expenses	(1,537)	(2,774)	(2,681)	(5,409)
Selling, general and administrative expenses	(151)	(308)	(346)	(690)
Consolidated [Member]
STATEMENTS OF OPERATIONS
Revenues	63,352	97,372	146,761	193,483
Operating expenses	55,298	71,975	127,668	132,668
Selling, general and administrative expenses	20,609	12,086	36,649	27,626
Income (loss) from operations	(12,555)	13,311	(17,556)	33,189
Interest income (expense), net	(8,430)	(7,934)	(16,799)	(15,049)
Other income (expense), net	(318)	(1,175)	(184)	(1,469)
Income (loss) before income taxes	(21,303)	4,202	(34,539)	16,671
Income tax expense	(5,402)	1,706	(6,972)	7,455
Income (loss) after income taxes	(15,901)	2,496	(27,567)	9,216
Net loss, attributable to noncontrolling interests	(115)	(50)	(239)	(260)
Net income (loss), attributable to common shareholders	$ (15,786)	$ 2,546	$ (27,328)	$ 9,476

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Note 5 - Property And Equipment (Details) - Property and Equipment (June 30, 2013 unaudited) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2012
Property and Equipment (June 30, 2013 unaudited) [Abstract]
Machinery and equipment	$ 302,195	$ 308,039
Computers and software	19,658	19,661
Buildings	13,601	13,601
Boats	7,634	7,634
Land	2,157	2,157
Furniture and fixtures	103	103
	345,348	351,195
Less: accumulated depreciation	266,220	258,248
	79,128	92,947
Construction in process	12,374	7,225
Property and equipment, net	$ 91,502	$ 100,172

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Note 4 - Multi-Client Library (Tables)

6 Months Ended

Jun. 30, 2013

Multi Client Library [Abstract]

Schedule of Other Assets, Noncurrent [Table Text Block]

	June 30, 2013		December 31, 2012
	(unaudited)
Multi-client library, at cost	$	709,423	$	655,477
Less: accumulated Multi-client library amortization		418,418		346,410
Multi-client library, net	$	291,005	$	309,067

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Consolidated Statements Of Stockholders' Equity (Unaudited) (USD $) In Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Total
Balances at Dec. 31, 2012	$ 476	$ 253,415	$ (96,528)	$ (49,815)	$ 107,548
Issuance of common stock	6	327			333
Compensation expense associated with stock grants		3,386			3,386
Purchase of treasury stock			(2)		(2)
Net loss				(27,328)	(27,328)
Balances at Jun. 30, 2013	$ 482	$ 257,128	$ (96,530)	$ (77,143)	$ 83,937

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Note 2 - Selected Balance Sheet Accounts

6 Months Ended

Jun. 30, 2013

Disclosure Text Block Supplement [Abstract]

Supplemental Balance Sheet Disclosures [Text Block]

NOTE 2 - SELECTED BALANCE SHEET ACCOUNTS

Prepaid expenses and other current assets included the following (in thousands):

	June 30, 2013		December 31, 2012
	(unaudited)
Assets held for sale	$	4,268	$	4,878
Prepaid expenses		3,798		1,181
Mobilization costs, net		4,830		998
Note receivable, current portion		806		1,750
Insurance proceeds receivable		2,269		-
Current deferred tax asset		12,673		12,673
Total prepaid expenses and other current assets	$	28,644	$	21,480

Other current assets included certain property and equipment which was identified as held for sale. The Company classifies assets as held for sale and ceases the depreciation and amortization of the assets when there is a plan for disposal of the assets and those assets meet the held for sale criteria as defined in FASB ASC 360 “Plant, Property and Equipment”. These assets were recorded at the lower of their carrying value or their fair value based on current market conditions.

Accounts receivable, net included the following (in thousands):

	June 30, 2013			December 31, 2012
	(unaudited)
Accounts receivable, trade	$	22,226		$	38,511
Unbilled		25,067			16,321
Allowance for doubtful accounts		(4,140	)		(3,066	)
Accounts receivable, net	$	43,153		$	51,766

The Company occasionally experiences disagreements or disputes with customers relating to amounts charged by the Company. When management determines that amounts relating to such disputes are uncollectable, a charge to bad debt expense is recorded in the period such a determination is made. Bad debt expense, net of recovery for the three months ended June 30, 2013 and 2012 was $0.1 million and zero, respectively, and $1.1 million and $2.9 million for the six months ended June 30, 2013 and 2012, respectively.

Other assets included the following (in thousands):

	June 30, 2013		December 31, 2012
	(unaudited)
Debt issuance costs, net	$	5,224	$	5,689
Investment in unconsolidated affiliate		463		441
Other		374		271
Total other assets	$	6,061	$	6,401

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Note 5 - Property And Equipment

6 Months Ended

Jun. 30, 2013

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

NOTE 5 - PROPERTY AND EQUIPMENT

Property and equipment, net included the following (in thousands): 

	June 30, 2013		December 31, 2012
	(unaudited)
Machinery and equipment	$	302,195	$	308,039
Computers and software		19,658		19,661
Buildings		13,601		13,601
Boats		7,634		7,634
Land		2,157		2,157
Furniture and fixtures		103		103
		345,348		351,195
Less: accumulated depreciation		266,220		258,248
		79,128		92,947
Construction in process		12,374		7,225
Property and equipment, net	$	91,502	$	100,172

In May 2013, a fire destroyed a warehouse in Colombia that contained Company equipment with a net book value of approximately $4.4 million. The equipment destroyed in the fire was insured and the Company expects to recover, at a minimum, the net book value of the equipment lost in the fire. As of June 30, 2013, the Company received a partial settlement for the loss of $2.1 million and recorded a receivable of $2.3 million from its insurance carriers as a component of prepaid expenses and other current assets in the Consolidated Balance Sheet. Subsequent to June 30, 2013, the Company collected $0.9 million of the insurance receivable.

The following table provides an analysis of depreciation expense (in thousands):

	Three Month Period Ended June 30,				Six Month Period Ended June 30,
	2013		2012		2013		2012
	(unaudited)				(unaudited)
Gross depreciation expense	$	9,454	$	9,519	$	18,486	$	19,584
Less: capitalized depreciation for Multi-client library		895		3,117		2,591		6,076
Depreciation (net)	$	8,559	$	6,402	$	15,895	$	13,508

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Note 3 - Inventory

6 Months Ended

Jun. 30, 2013

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

NOTE 3 - INVENTORY

The Company identifies certain recording systems produced or held for sale as inventory. Inventory consists primarily of finished products. Inventory is stated at the lower of cost or net realizable value. Cost of inventory is determined by using the first-in, first-out method. The Company periodically reviews its inventory and makes provisions for damaged, missing or obsolete inventory.

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Note 4 - Multi-Client Library (Details) - Multi-client Library (June 30, 2013 unaudited) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2012
Multi-client Library (June 30, 2013 unaudited) [Abstract]
Multi-client library, at cost	$ 709,423	$ 655,477
Less: accumulated Multi-client library amortization	418,418	346,410
Multi-client library, net	$ 291,005	$ 309,067

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Note 8 - Long-term Debt (Tables)

6 Months Ended

Jun. 30, 2013

Disclosure Text Block [Abstract]

Schedule of Long-term Debt Instruments [Table Text Block]

	June 30, 2013		December 31, 2012
	(unaudited)
Senior notes	$	250,000	$	250,000
Revolving credit facility		79,915		79,060
Promissory notes		10,781		11,204
Notes payable - insurance		2,135		806
		342,831		341,070
Less: unamortized discount		6,209		6,850
		336,622		334,220
Less:  current portion		92,431		22,970
Long-term debt, net of current portion and unamortized discount	$	244,191	$	311,250

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Note 13 - Supplemental Cash Flow Information (Tables)

6 Months Ended

Jun. 30, 2013

Other Supplemental Cash Flow Information [Member]

Note 13 - Supplemental Cash Flow Information (Tables) [Line Items]

Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]

	Six Month Period Ended June 30,
	2013		2012
	(unaudited)
Interest paid	$	15,567	$	13,475
Income taxes paid	$	2,689	$	3,249

Non-Cash Investing And Financing Activities [Member]

Note 13 - Supplemental Cash Flow Information (Tables) [Line Items]

Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]

	Six Month Period Ended June 30,
	2013		2012
	(unaudited)
Property and equipment additions transferred from inventory	$	8,571	$	-
Property and equipment disposal recoverable through insurance proceeds	$	2,269	$	-
Property and equipment additions financed through capital leases	$	-	$	1,202
Non-cash Multi-client data swap asset recorded as deferred revenue	$	-	$	146
Original issue discount on notes payable	$	-	$	3,000
Non-cash property and equipment additions associated with swap of property and equipment	$	-	$	7,500
Non-cash property and equipment additions associated with data swap	$	-	$	1,751
Purchase price not paid at close of acquisition	$	-	$	2,993

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Note 2 - Selected Balance Sheet Accounts (Details) - Prepaid Expenses and Other Current Assets (June 30, 2013 unaudited) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2012
Prepaid Expenses and Other Current Assets (June 30, 2013 unaudited) [Abstract]
Assets held for sale	$ 4,268	$ 4,878
Prepaid expenses	3,798	1,181
Mobilization costs, net	4,830	998
Note receivable, current portion	806	1,750
Insurance proceeds receivable	2,269
Current deferred tax asset	12,673	12,673
Total prepaid expenses and other current assets	$ 28,644	$ 21,480

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Note 11 - Stock-based Compensation (Details) - Restricted Stock Activity (Restricted Stock [Member], USD $)	6 Months Ended
	Jun. 30, 2013
Restricted Stock [Member]
Note 11 - Stock-based Compensation (Details) - Restricted Stock Activity [Line Items]
Balance as of December 31, 2012	976,976
Balance as of December 31, 2012 (in Dollars per share)	$ 6.72
Granted	490,147
Granted (in Dollars per share)	$ 3.45
Vested	(165,255)
Vested (in Dollars per share)	$ 11.20
Forfeited	(185,321)
Forfeited (in Dollars per share)	$ 9.60
Balance at June 30, 2013	1,116,547
Balance at June 30, 2013 (in Dollars per share)	$ 4.14

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Note 9 - Capital Lease (Details) (USD $) In Millions, unless otherwise specified	6 Months Ended	12 Months Ended
	Jun. 30, 2013	Dec. 31, 2012
Leases [Abstract]
Capital Lease Obligations (in Dollars)	$ 7.9	$ 9.8
Sale Leaseback Transaction, Imputed Interest Rate	5.70%	5.30%

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Note 6 - Goodwill And Other Intangibles (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Note 6 - Goodwill And Other Intangibles (Details) [Line Items]
Amortization	$ 0.8	$ 0.8	$ 1.6	$ 1.5
Research And Development Expense Internal Use Software	$ 0.2	$ 0.3	$ 0.3	$ 1.4
Minimum [Member]
Note 6 - Goodwill And Other Intangibles (Details) [Line Items]
Finite-Lived Intangible Asset, Useful Life			2 years
Maximum [Member]
Note 6 - Goodwill And Other Intangibles (Details) [Line Items]
Finite-Lived Intangible Asset, Useful Life			15 years

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Consolidated Balance Sheets (June 30, 2013 Unaudited) (Parentheticals) (USD $) In Millions, except Per Share data, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2012
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in Shares)	100.0	100.0
Common stock, shares issued (in Shares)	48.2	47.6
Common stock, shares outstanding (in Shares)	38.1	37.6
Less: treasury stock, at cost, shares (in Shares)	10.1	10.0

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Note 8 - Long-term Debt

6 Months Ended

Jun. 30, 2013

Disclosure Text Block [Abstract]

Long-term Debt [Text Block]

NOTE 8 - LONG-TERM DEBT

Long-term debt included the following (in thousands):

	June 30, 2013		December 31, 2012
	(unaudited)
Senior notes	$	250,000	$	250,000
Revolving credit facility		79,915		79,060
Promissory notes		10,781		11,204
Notes payable - insurance		2,135		806
		342,831		341,070
Less: unamortized discount		6,209		6,850
		336,622		334,220
Less:  current portion		92,431		22,970
Long-term debt, net of current portion and unamortized discount	$	244,191	$	311,250

Senior Notes: On April 27, 2010, the Company issued $200.0 million aggregate principal amount of its 10.5% senior notes due 2017 (the “Notes”) pursuant to exemptions from registration under the Securities Act of 1933. The Company’s net proceeds from the offering were approximately $188.1 million after deducting the initial purchasers’ discounts, offering expenses and original issue discount.

The Notes represent general unsecured, senior obligations of the Company and are unconditionally guaranteed as to principal, premium, if any, and interest by the Company’s domestic subsidiaries (the “Guarantors”) on a senior unsecured basis.

The Company used the proceeds from the offering and sale of the Notes to repay outstanding indebtedness and used the remaining proceeds for capital expenditures and for general corporate purposes.

The Notes were issued under an Indenture with The Bank of New York Mellon Trust Company, N.A., (the “Trustee”).

On March 28, 2012, the Company issued an additional $50.0 million aggregate principal amount of its 10.5% senior notes due 2017 pursuant to exemptions from registration under the Securities Act of 1933. The net proceeds to the Company from the issuance were approximately $47.0 million after deducting the initial purchasers’ discounts, offering expenses and original issue discount. On September 28, 2012, the Company issued $50.0 million in aggregate principal amount of its 10.5% senior notes due 2017 that were registered under the Securities Act of 1933 (the “New Notes”) in exchange for an identical amount of the unregistered notes issued on March 28, 2012.

The New Notes represent general unsecured, senior obligations of the Company. The New Notes are unconditionally guaranteed as to principal, premium, if any, and interest by the Guarantors on a senior unsecured basis.

The Company used the proceeds from the offering and sale of the New Notes to repay outstanding indebtedness under its existing Revolving Credit Facility.

The New Notes are covered under the terms of an Indenture dated March 28, 2012. The Notes and the New Notes are hereinafter collectively referred to as the “Senior Notes”. The following is a brief summary of the material terms and conditions of the Senior Notes’ Indentures.

Interest — The Senior Notes bear interest at a rate of 10.5% per annum and interest is paid semi-annually, in arrears, on May 1 and November 1 of each year.

Principal and Maturity — The Senior Notes were issued with a $250.0 million aggregate principal amount and will mature on May 1, 2017.

Optional Redemption by the Company — On or after May 1, 2014, the Company may redeem the Senior Notes at the following percentages of the original principal amount: (i) 105.250% from May 1, 2014 to April 30, 2015; (ii) 102.625% from May 1, 2015 to April 30, 2016; and (iii) 100% from May 1, 2016 and thereafter.

Repurchase Obligations by the Company — Upon a change of control of the Company (as defined in the Indentures), each holder of the Senior Notes may require the Company to purchase their Senior Notes at a price equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of repurchase.

Restrictive Covenants — The Indentures relating to the Senior Notes contain restrictive covenants that limit, among other things, certain restricted payments in respect of the Company’s equity interests and any subordinated debt, dividend restrictions affecting subsidiaries, incurrence of additional indebtedness and issuances of disqualified stock, certain asset sales and mergers with other entities, and certain liens (other than permitted liens).

Events of Default — The Indentures for the Senior Notes also contain events of default including, but not limited to, the following: (i) nonpayment; (ii) defaults in certain other indebtedness of the Company or the Guarantors; and (iii) the failure of the Company or the Guarantors to comply with their respective covenants in the event of a mandatory redemption, optional redemption, option to repurchase, or a merger, consolidation or sale of assets. Upon an event of default, the holders of the Senior Notes or the Trustee may declare the Senior Notes due and immediately payable. As of June 30, 2013, the Company was in compliance with all respective Indenture covenants.

Debt Issuance Costs: Costs related to the issuance of debt are capitalized and amortized as a component of interest expense using the effective interest method over the maturity period of the related debt. Accumulated amortization was $2.8 million and $2.0 million at June 30, 2013 and December 31, 2012, respectively.

Bank of America Revolving Credit Facility: On April 30, 2010, the Company entered into a revolving credit facility under the terms of a Credit Agreement (the “Revolving Credit Facility”) with Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer, and each lender from time to time party thereto. The Revolving Credit Facility provided for borrowings of up to $50.0 million with a maturity date of April 30, 2013. On June 9, 2011, the Company amended the Revolving Credit Facility to provide for borrowings of up to $70.0 million under substantially similar terms. The loans under the Revolving Credit Facility bear interest at a rate equal to LIBOR plus the Applicable Rate or the Base Rate plus the Applicable Rate. The Base Rate is defined as the higher of (x) the prime rate or (y) the Federal Funds rate plus 0.50%. The Applicable Rate is defined as a percentage determined in accordance with a pricing grid based upon the Company’s leverage ratio, that will decline from LIBOR plus 4.00% or the prime rate plus 3.00% to a minimum rate equal to LIBOR plus 3.50% or the prime rate plus 2.50%. The Company may prepay borrowings under the Revolving Credit Facility at any time without penalty or premium, subject to reimbursement of the lenders’ breakage and redeployment costs in the case of prepayment of LIBOR borrowings. The Company also pays a commitment fee of 0.75% per annum on the actual daily unused portions of the Revolving Credit Facility.

The Company’s Revolving Credit Facility is secured by a first priority lien on substantially all of the Company’s assets, the assets of the Company’s non-foreign subsidiaries, the stock of the Company’s non-foreign subsidiaries and 66% of the stock of certain of the Company’s foreign subsidiaries. In addition, the Company’s non-foreign subsidiaries guarantee the Company’s obligations under the Revolving Credit Facility.

The terms of the Revolving Credit Facility limit the Company’s ability and the ability of certain of the Company’s subsidiaries to, among other things: incur or guarantee additional indebtedness; grant additional liens on the Company’s assets; make certain investments or certain acquisitions of substantially all or a portion of another entity’s business or assets; merge with another entity or dispose of the Company’s assets; pay dividends; enter into transactions with affiliates; engage in other lines of business and repurchase stock.

Additionally, the Revolving Credit Facility requires that the Company maintain certain ratios of total senior, secured debt to consolidated EBITDA (as defined therein), and of consolidated EBITDA to consolidated interest. The Revolving Credit Facility includes customary provisions with respect to events of default. Upon the occurrence and continuation of an event of default under the Revolving Credit Facility, the lenders have the right to, among other things, terminate their revolving loan commitments, accelerate the repayment of the loans outstanding and declare the same to be immediately due and payable. As of June 30, 2013, the Company was in compliance with all respective Revolving Credit Facility covenants.

On July 20, 2012, the Company further amended the Revolving Credit Facility (the “Third Amendment”), with Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer, Credit Suisse AG, Cayman Islands Branch, as Syndication Agent and a Lender, Barclays Bank PLC, and Citibank, N.A (collectively, the “Lenders” and individually, a “Lender”). Under the Third Amendment, the maximum amount of permitted borrowings under the Revolving Credit Facility was increased to $85.0 million until the initial Maturity Date of April 30, 2013, at which point the maximum amount of permitted borrowings was reduced to $67.5 million and the Maturity Date of the Revolving Credit Facility was extended to April 30, 2014 (the “Extended Maturity Date”). Under the Third Amendment, the Company, as Borrower, has the right to request an increase in lending commitments by an additional $10.0 million subject to the requirements of the Revolving Credit Facility until the Extended Maturity Date.

On April 24, 2013, the Company entered into the fourth amendment (the “Fourth Amendment”) to the Company’s Revolving Credit Facility with Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer, Barclays Bank PLC, and Citibank, N.A. The Company has requested and certain of the Lenders have agreed to assume a portion of certain expiring commitments and extend such Lenders’ respective Commitments and/or the expiration thereof on the terms and conditions set forth in the Amendment. Under the Fourth Amendment, the permitted borrowings under the Revolving Credit Facility was reduced to $80.0 million until the initial Maturity Date of September 30, 2013, at which point the maximum permitted borrowings under the Revolving Credit Facility is reduced to $67.5 million through the Maturity Date of the Revolving Credit Facility on April 30, 2014. As of June 30, 2013, borrowings outstanding under the Revolving Credit Facility aggregated $79.9 million. The Company currently intends to refinance the Revolving Credit Facility prior to its maturity. The Company may also fund the scheduled reduction in commitments under the Revolving Credit Facility through cash generated from operations.

Promissory Notes: From time to time, the Company issues short term promissory notes to various foreign financial institutions to finance equipment purchases and working capital needs for foreign operations.  The balance outstanding under these promissory notes as of June 30, 2013 and December 31, 2012 was $10.2 million and $10.4 million, respectively, at weighted average interest rates of 9.3% and 9.1%, respectively.

In January 2011, the Company issued a non-interest bearing promissory note related to the acquisition of STRM LLC. The balance outstanding under the promissory note as of June 30, 2013 and December 31, 2012 was $0.6 million and $0.8 million, respectively.

Notes Payable - Insurance: In exchange for insurance services provided, the Company from time to time issues negotiable promissory notes. The balance outstanding under these promissory notes as of June 30, 2013 and December 31, 2012 was $2.1 million and $0.8 million, respectively, at weighted average interest rates of 3.4% and 3.4%, respectively.

Letter of Credit Facility:  In February 2007, the Company entered into a $10.0 million revolving line of credit which was secured by restricted cash.  The terms of the letter of credit facility as currently written only allow for letters of credit to be drawn on the available credit; however, the cash balance in excess of the total outstanding letters of credit may be withdrawn by the Company at any time.  As of June 30, 2013 and December 31, 2012, the letters of credit outstanding were $1.4 million and $1.8 million, respectively.

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Consolidated Statements Of Cash Flows (Unaudited) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss), attributable to common shareholders	$ (27,328)	$ 9,476
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation (net) and amortization expense	89,511	63,158
Non-cash revenue from Multi-client data exchange		(4,442)
Deferred tax expense (benefit)	(9,677)	3,344
Gain on sale of assets	(2,925)	(9,881)
Other	4,502	3,586
Effects of changes in operating assets and liabilities
Accounts receivable, net	8,613	10,020
Inventory	(1,731)
Prepaid expenses and other current assets	(5,564)	(2,234)
Accounts payable and accrued expenses	(4,988)	(14,458)
Deferred revenue	(9,387)	(1,105)
Other	(865)	2,352
NET CASH PROVIDED BY OPERATING ACTIVITIES	40,161	59,816
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	(6,559)	(18,949)
Investment in Multi-client library	(51,355)	(79,770)
Investment in unconsolidated affiliate	(250)	(500)
Change in restricted cash investments	390	2,818
Purchase of intangibles	(1,637)	(2,849)
Proceeds from involuntary conversion of assets	2,100
Proceeds from sale of assets	4,599	14,107
NET CASH USED IN INVESTING ACTIVITIES	(52,712)	(85,143)
CASH FLOWS FROM FINANCING ACTIVITIES
Debt issuance costs	(250)	(1,364)
Proceeds from sale and leaseback transaction	1,940
Principal payments on capital lease obligations	(3,911)	(3,665)
Purchase of treasury stock	(2)	(1)
Issuances of stock	335	432
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	(127)	27,742
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(12,678)	2,415
CASH AND CASH EQUIVALENTS, beginning of period	23,359	21,525
CASH AND CASH EQUIVALENTS, end of period	10,681	23,940
Debt Long Term [Member]
CASH FLOWS FROM FINANCING ACTIVITIES
Net (payment) proceeds from long-term debt and revolving credit facility	906	49,280
Credit Facility Revolving [Member]
CASH FLOWS FROM FINANCING ACTIVITIES
Net (payment) proceeds from long-term debt and revolving credit facility	$ 855	$ (16,940)

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Note 13 - Supplemental Cash Flow Information (Details) - Supplemental Cash Flow Information (unaudited) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Supplemental Cash Flow Information (unaudited) [Abstract]
Interest paid	$ 15,567	$ 13,475
Income taxes paid	$ 2,689	$ 3,249

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Consolidated Balance Sheets (June 30, 2013 Unaudited) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2012
CURRENT ASSETS
Cash and cash equivalents	$ 10,681	$ 23,359
Restricted cash investments	1,440	1,830
Accounts receivable, net	43,153	51,766
Inventory	5,025	11,864
Income and other taxes receivable	815	1,472
Prepaid expenses and other current assets	28,644	21,480
TOTAL CURRENT ASSETS	89,758	111,771
MULTI-CLIENT LIBRARY, net	291,005	309,067
PROPERTY AND EQUIPMENT, net	91,502	100,172
GOODWILL	12,381	12,381
INTANGIBLE ASSETS, net	11,745	13,083
OTHER ASSETS	6,061	6,401
TOTAL ASSETS	502,452	552,875
CURRENT LIABILITIES
Accounts payable and accrued expenses	37,609	42,597
Current portion of long-term debt	92,431	22,970
Current portion of capital lease obligations	4,410	5,639
Income and other taxes payable	2,491	3,563
Deferred revenue	13,111	22,498
Other payables	1,666	3,059
TOTAL CURRENT LIABILITIES	151,718	100,326
DEFERRED INCOME TAXES, net	17,396	27,073
LONG-TERM DEBT, net of current portion and unamortized discount	244,191	311,250
CAPITAL LEASE OBLIGATIONS, net of current portion	3,494	4,176
NON-CONTROLLING INTERESTS	758	997
OTHER LIABILITIES	958	1,505
TOTAL LIABILITIES	418,515	445,327
STOCKHOLDERS’ EQUITY
Common stock, $0.01 par value, 100.0 million shares authorized, 48.2 million shares and 47.6 million shares issued and 38.1 million shares and 37.6 million shares outstanding at June 30, 2013 and December 31, 2012, respectively	482	476
Additional paid-in capital	257,128	253,415
Accumulated deficit	(77,143)	(49,815)
	180,467	204,076
Less: treasury stock, at cost, 10.1 million shares and 10.0 million shares at June 30, 2013 and December 31, 2012, respectively	96,530	96,528
TOTAL STOCKHOLDERS’ EQUITY	83,937	107,548
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 502,452	$ 552,875

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Note 10 - Fair Value Of Financial Instruments (Details) - Fair Value Level One Liabilities (June 30, 2013 unaudited) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2012
Long-Term Debt One [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	$ 174,000	$ 178,000
Long-Term Debt One [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount	196,194	195,801
Long-Term Debt Two [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	43,500	44,500
Long-Term Debt Two [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount	$ 47,597	$ 47,349

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Note 10 - Fair Value Of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2013

Fair Value Disclosures [Abstract]

Fair Value, by Balance Sheet Grouping [Table Text Block]

	June 30, 2013				December 31, 2012
	(unaudited)
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
$200.0 million senior notes	$	196,194	$	174,000	$	195,801	$	178,000
$50.0 million senior notes	$	47,597	$	43,500	$	47,349	$	44,500

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Note 17 - Subsequent Events

6 Months Ended

Jun. 30, 2013

Subsequent Events [Abstract]

Subsequent Events [Text Block]

NOTE 17 - SUBSEQUENT EVENTS

The Company evaluates events and transactions that occur after the balance sheet date but before the consolidated financial statements are issued. The Company evaluated such events and transactions through the date the consolidated financial statements were filed electronically with the Securities and Exchange Commission.

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Note 5 - Property And Equipment (Details) - Analysis of Depreciation Expense (unaudited) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Analysis of Depreciation Expense (unaudited) [Abstract]
Gross depreciation expense	$ 9,454	$ 9,519	$ 18,486	$ 19,584
Less: capitalized depreciation for Multi-client library	895	3,117	2,591	6,076
Depreciation (net)	$ 8,559	$ 6,402	$ 15,895	$ 13,508

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Note 11 - Stock-based Compensation (Details) - Option Activity (USD $)	90 Months Ended	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2013 Employee Stock Option [Member]	Jun. 29, 2013 Employee Stock Option [Member]	Dec. 30, 2012 Employee Stock Option [Member]
Note 11 - Stock-based Compensation (Details) - Option Activity [Line Items]
Balance as of December 31, 2012 (in Shares)				1,893,200
Balance as of December 31, 2012				$ 22.87
Balance as of December 31, 2012				$ 5.30
Granted (in Shares)			1,000,000
Granted			$ 3.51
Granted			$ 3.51
Forfeited (in Shares)	3,209,400		(272,200)
Forfeited			$ 22.80
Forfeited			$ 5.81
Balance at June 30, 2013 (in Shares)			2,621,000	1,893,200
Balance at June 30, 2013			$ 15.49	$ 22.87
Balance at June 30, 2013			5 years 21 days
Balance at June 30, 2013			$ 4.56	$ 5.30
Exercisable as of June 30, 2013 (in Shares)		1,505,075
Exercisable as of June 30, 2013		$ 22.61
Exercisable as of June 30, 2013		5 years 14 days
Exercisable as of June 30, 2013		$ 4.97

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Note 2 - Selected Balance Sheet Accounts (Details) - Other Assets (June 30, 2013 unaudited) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2012
Other Assets (June 30, 2013 unaudited) [Abstract]
Debt issuance costs, net	$ 5,224	$ 5,689
Investment in unconsolidated affiliate	463	441
Other	374	271
Total other assets	$ 6,061	$ 6,401

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Note 1 - Basis Of Presentation (Details)	6 Months Ended
	Jun. 30, 2013
Disclosure Text Block [Abstract]
Entity Registrant Name	Global Geophysical Services Inc

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Note 2 - Selected Balance Sheet Accounts (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2013	Jun. 30, 2012
Disclosure Text Block Supplement [Abstract]
Provision for Doubtful Accounts	$ 0.1	$ 1.1	$ 2.9

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Note 7 - Income Taxes

6 Months Ended

Jun. 30, 2013

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

NOTE 7 - INCOME TAXES

The Company provides for income taxes during interim periods based on an estimate of the effective tax rate for the year.  Discrete items and changes in the estimate of the annual effective tax rate are recorded in the period in which they occur.

The Company assesses the likelihood that deferred tax assets will be recovered from the existing deferred tax liabilities or future taxable income in each jurisdiction. To the extent the Company believes that recovery will not meet the more likely than not threshold, it establishes a valuation allowance. The Company has recorded valuation allowances in several non-US jurisdictions for its net deferred tax assets since management believes it is more likely than not that these assets will not be realized because the future taxable income necessary to utilize these losses cannot be established or projected or the Company no longer has activities in these jurisdictions.

The effective income tax rate for the three months ended June 30, 2013 and 2012 was 25.4% and 40.6%, respectively. The effective income tax rate for the six months ended June 30, 2013 and 2012 was 20.2% and 44.7%, respectively. The Company’s effective income tax rate in 2013 and 2012 differs from the federal statutory rate primarily due to state income taxes, non-deductible expenses, foreign tax credit limitations, tax rate differential from non-US activities, and valuation allowances related to non-US jurisdictions.

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Note 16 - Guarantees Of Registered Securities (Details) - Separate Condensed Consolidating Balance Sheets (unaudited) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2012
ASSETS
Current assets	$ 89,758	$ 111,771
Multi-client library, net	291,005	309,067
Property and equipment, net	91,502	100,172
TOTAL ASSETS	502,452	552,875
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities	151,718	100,326
TOTAL LIABILITIES	418,515	445,327
Stockholders' equity	83,937	107,548
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	502,452	552,875
Guarantors [Member]
ASSETS
Current assets	137,377	150,864
Multi-client library, net	289,663	309,031
Property and equipment, net	89,499	97,129
Investment in subsidiaries	1	1
Intercompany accounts	15,191	20,589
Other non-current assets	29,958	31,728
TOTAL ASSETS	561,689	609,342
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities	151,299	102,568
Long-term debt and capital lease obligations, net of current portion and unamortized discount	247,685	315,426
Deferred income tax and other non-current liabilities	19,112	29,575
TOTAL LIABILITIES	418,096	447,569
Stockholders' equity	143,593	161,773
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	561,689	609,342
Non Guarantors [Member]
ASSETS
Current assets	15,697	21,761
Multi-client library, net	1,342	36
Property and equipment, net	2,003	3,043
Intercompany accounts	(15,191)	(20,589)
Other non-current assets	229	137
TOTAL ASSETS	4,080	4,388
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities	63,735	58,612
TOTAL LIABILITIES	63,735	58,612
Stockholders' equity	(59,655)	(54,224)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	4,080	4,388
Eliminations [Member]
ASSETS
Current assets	(63,316)	(60,854)
Investment in subsidiaries	(1)	(1)
TOTAL ASSETS	(63,317)	(60,855)
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities	(63,316)	(60,854)
TOTAL LIABILITIES	(63,316)	(60,854)
Stockholders' equity	(1)	(1)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	(63,317)	(60,855)
Consolidated [Member]
ASSETS
Current assets	89,758	111,771
Multi-client library, net	291,005	309,067
Property and equipment, net	91,502	100,172
Other non-current assets	30,187	31,865
TOTAL ASSETS	502,452	552,875
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities	151,718	100,326
Long-term debt and capital lease obligations, net of current portion and unamortized discount	247,685	315,426
Deferred income tax and other non-current liabilities	19,112	29,575
TOTAL LIABILITIES	418,515	445,327
Stockholders' equity	83,937	107,548
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 502,452	$ 552,875

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Note 11 - Stock-based Compensation (Tables)

6 Months Ended

Jun. 30, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	Six Month Period Ended June 30, 2013
Risk-free interest rate		1.19	%
Expected lives (in years)		7
Expected dividend yield		0.00	%
Expected volatility		78.76	%

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

	Number of Optioned Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term in Years		Weighted Average Optioned Grant Date Fair Value
Balance as of December 31, 2012		1,893,200		$	22.87			$	5.30
Expired		-			-				-
Granted		1,000,000			3.51				3.51
Exercised		-			-				-
Forfeited		(272,200	)		22.80				5.81
Balance at June 30, 2013		2,621,000		$	15.49		5.06	$	4.56
Exercisable as of June 30, 2013		1,505,075		$	22.61		5.04	$	4.97

Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]

	Number of Nonvested Restricted Share Awards			Weighted Average Grant Date Fair Value
Balance as of December 31, 2012		976,976		$	6.72
Granted		490,147			3.45
Vested		(165,255	)		11.20
Forfeited		(185,321	)		9.60
Balance at June 30, 2013		1,116,547		$	4.14

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Note 5 - Property And Equipment (Details) (USD $)				6 Months Ended
	Jun. 30, 2013	Dec. 31, 2012	May 30, 2013 Fire Loss [Member] Building [Member]	Jun. 30, 2013 Fire Loss [Member] Equipment [Member]	Jun. 30, 2013 Fire Loss [Member]
Note 5 - Property And Equipment (Details) [Line Items]
Property, Plant and Equipment, Net	$ 91,502,000	$ 100,172,000	$ 4,400,000
Gain (Loss) on Disposition of Assets				2,100,000
Insurance Settlements Receivable	2,269,000				2,300,000
Proceeds from Insurance Settlement, Investing Activities					$ 900,000

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Note 10 - Fair Value Of Financial Instruments

6 Months Ended

Jun. 30, 2013

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

NOTE 10 – FAIR VALUE OF FINANCIAL INSTRUMENTS

The Company follows ASU 2011-04 “Fair Value Measurement” as it relates to financial assets and financial liabilities, which defines fair value, establishes a framework for measuring fair value under GAAP and expands disclosures about fair value measurements.  The provisions of this standard apply to other accounting pronouncements that require or permit fair value measurements.

This guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.   Hierarchical levels, as defined in this guidance and directly related to the amount of subjectivity associated with the inputs to fair valuations of these assets and liabilities are as follows:

Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Level 3 – Inputs that are both significant to the fair value measurement and unobservable.

The reported fair values for financial instruments that use Level 2 and Level 3 inputs to determine fair value are based on a variety of factors and assumptions. Accordingly, certain fair values may not represent actual values of the financial instruments that could have been realized as of June 30, 2013 or that will be realized in the future and do not include expenses that could be incurred in an actual sale or settlement.

In the normal course of operations, the Company is exposed to market risks arising from adverse changes in interest rates.  Market risk is defined for these purposes as the potential for change in the fair value of debt instruments resulting from an adverse movement in interest rates.

The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and current debt approximate their fair value due to the short maturity of those instruments, and therefore, have been excluded from the table below.  The fair value of the Notes is determined by multiplying the principal amount by their market price.  The following table sets forth the level 1 fair value of the Company’s financial assets and liabilities as of June 30, 2013 and December 31, 2012 (in thousands):

	June 30, 2013				December 31, 2012
	(unaudited)
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
$200.0 million senior notes	$	196,194	$	174,000	$	195,801	$	178,000
$50.0 million senior notes	$	47,597	$	43,500	$	47,349	$	44,500

The Company is not a party to any hedge arrangements, commodity swap agreements or other derivative financial instruments.

The Company utilizes foreign subsidiaries and branches to conduct operations outside of the United States. These operations expose the Company to market risks from changes in foreign exchange rates.

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Note 6 - Goodwill And Other Intangibles

6 Months Ended

Jun. 30, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 6 - GOODWILL AND OTHER INTANGIBLES

Goodwill and other intangibles included the following (in thousands):

	June 30, 2013		December 31, 2012
	(unaudited)
Customer list	$	3,984	$	3,984
Trademark		1,759		1,759
Patents		3,913		3,913
Non-compete agreements		1,057		1,057
Intellectual property		9,154		8,883
		19,867		19,596
Less: accumulated amortization		8,122		6,513
Total intangible assets, net		11,745		13,083
Goodwill		12,381		12,381
Total goodwill and other intangibles, net	$	24,126	$	25,464

Intangible assets subject to amortization are amortized on a straight-line basis over their estimated useful lives, which are between two and fifteen years. Amortization expense for the three months ended June 30, 2013 and 2012 was $0.8 million and $0.8 million, respectively, and $1.6 million and $1.5 million for the six months ended June 30, 2013 and 2012, respectively. For the three months ended June 30, 2013 and 2012, the Company capitalized $0.2 million and $0.3 million, respectively, of development costs related to internal use software as a component of intellectual property. For the six months ended June 30, 2013 and 2012, the Company capitalized $0.3 million and $1.4 million, respectively, of development costs related to internal use software as a component of intellectual property.

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Note 1 - Basis Of Presentation

6 Months Ended

Jun. 30, 2013

Disclosure Text Block [Abstract]

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

NOTE 1 - BASIS OF PRESENTATION

The accompanying consolidated financial statements include the accounts of Global Geophysical Services, Inc. and its controlled subsidiaries (collectively, the “Company” unless the context otherwise requires). All significant intercompany accounts and transactions have been eliminated in consolidation.

The Company provides an integrated suite of seismic data solutions to the global oil and gas industry.

The consolidated financial statements of the Company as of and for the three and six months ended June 30, 2013 are unaudited and have been prepared on the same basis as the audited consolidated financial statements as of and for the year ended December 31, 2012. In the opinion of management, the accompanying unaudited financial information includes all adjustments necessary for a fair presentation of the interim financial information. Operating results for the interim periods are not necessarily indicative of the results of any subsequent periods. Certain information in the footnote disclosures normally included in annual consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) has been condensed or omitted for the interim periods presented under the United States Securities and Exchange Commission (“SEC”) rules and regulations. As such, these interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. Certain amounts in the 2012 consolidated financial statements have been reclassified to conform to the classifications in the 2013 consolidated financial statements.

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Note 11 - Stock-based Compensation (Details) (USD $)	3 Months Ended	6 Months Ended		90 Months Ended	3 Months Ended	6 Months Ended		3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2013 Employee Stock Option [Member]	Jun. 29, 2013 Employee Stock Option [Member]	Jun. 30, 2013 Employee Stock Option [Member]	Jun. 30, 2013 Restricted Stock [Member]	Jun. 30, 2012 Restricted Stock [Member]	Jun. 30, 2013 Restricted Stock [Member]	Jun. 30, 2012 Restricted Stock [Member]	Jun. 30, 2013 Non Vested Stock Options [Member]	Jun. 30, 2012 Non Vested Stock Options [Member]	Jun. 30, 2013 Non Vested Stock Awards [Member]	Jun. 30, 2012 Non Vested Stock Awards [Member]
Note 11 - Stock-based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares)		9,203,058		9,203,058
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term		7 years					84 months
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate		0.00%					0.00%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares)				5,830,400
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period (in Shares)				3,209,400		(272,200)
Share-based Compensation	$ 300,000	$ 800,000	$ 700,000		$ 500,000			$ 900,000	$ 1,200,000	$ 2,600,000	$ 2,300,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value	412,250	1,115,925	412,250	1,115,925
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized												$ 3,000,000	$ 2,100,000	$ 4,800,000	$ 7,400,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition		4 years								3 years
Employee Stock Ownership Plan (ESOP), Plan Description		Employee Stock Purchase Plan: The Company maintains an Employee Stock Purchase Plan ("ESPP"), under which employees can choose to have a portion of their earnings withheld, subject to certain restrictions, to purchase the Company's common stock. The purchase price of the stock is 85% of the lower of the stock price at the beginning or end of the plan period at three-month intervals. The expense related to the ESPP for the three and six months ended June 30, 2013 and 2012 was immaterial to the consolidated financial statements.

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Note 7 - Income Taxes (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Percent	25.40%	40.60%	20.20%	44.70%

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Note 14 - Segment Information (Tables)

6 Months Ended

Jun. 30, 2013

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	As of and for the Three Month Period Ended June 30, 2013 (Unaudited)
	Proprietary Services			Multi-Client Services		Corporate			Total
Revenues	$	26,774		$	36,578	$	-		$	63,352
Segment income (loss) before taxes	$	(9,760	)	$	5,223	$	(16,766	)	$	(21,303	)
Segment assets	$	30,778		$	311,153	$	160,521		$	502,452

	As of and for the Three Month Period Ended June 30, 2012 (Unaudited)
	Proprietary Services		Multi-Client Services		Corporate			Total
Revenues	$	58,578	$	38,794	$	-		$	97,372
Segment income (loss) before taxes	$	4,719	$	7,851	$	(8,368	)	$	4,202
Segment assets	$	54,078	$	299,731	$	184,560		$	538,369

	As of and for the Six Month Period Ended June 30, 2013 (Unaudited)
	Proprietary Services			Multi-Client Services		Corporate			Total
Revenues	$	54,210		$	92,551	$	-		$	146,761
Segment income (loss) before taxes	$	(15,188	)	$	5,065	$	(24,416	)	$	(34,539	)
Segment assets	$	30,778		$	311,153	$	160,521		$	502,452

	As of and for the Six Month Period Ended June 30, 2012 (Unaudited)
	Proprietary Services		Multi-Client Services		Corporate			Total
Revenues	$	123,413	$	70,070	$	-		$	193,483
Segment income (loss) before taxes	$	17,629	$	12,826	$	(13,784	)	$	16,671
Segment assets	$	54,078	$	299,731	$	184,560		$	538,369

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Note 13 - Supplemental Cash Flow Information (Details) - Supplemental Disclosure of Non-Cash Investing and Financing Activities (unaudited) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Note 13 - Supplemental Cash Flow Information (Details) - Supplemental Disclosure of Non-Cash Investing and Financing Activities (unaudited) [Line Items]
Property and equipment additions transferred from inventory	$ 8,571
Property and equipment disposal recoverable through insurance proceeds	4,599	14,107
Property and equipment additions financed through capital leases		1,202
Non-cash Multi-client data swap asset recorded as deferred revenue		146
Original issue discount on notes payable		3,000
Purchase price not paid at close of acquisition		2,993
Disposal Recoverable Through Insurance Proceeds [Member]
Note 13 - Supplemental Cash Flow Information (Details) - Supplemental Disclosure of Non-Cash Investing and Financing Activities (unaudited) [Line Items]
Property and equipment disposal recoverable through insurance proceeds	2,269
Equipment Additions With Swap Of Property And Equipment [Member]
Note 13 - Supplemental Cash Flow Information (Details) - Supplemental Disclosure of Non-Cash Investing and Financing Activities (unaudited) [Line Items]
Non-cash property and equipment additions		7,500
Data Swap [Member]
Note 13 - Supplemental Cash Flow Information (Details) - Supplemental Disclosure of Non-Cash Investing and Financing Activities (unaudited) [Line Items]
Non-cash property and equipment additions		$ 1,751

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Note 13 - Supplemental Cash Flow Information

6 Months Ended

Jun. 30, 2013

Supplemental Cash Flow Elements [Abstract]

Cash Flow, Supplemental Disclosures [Text Block]

NOTE 13 - SUPPLEMENTAL CASH FLOW INFORMATION

The following provides supplemental cash flow information (in thousands):

	Six Month Period Ended June 30,
	2013		2012
	(unaudited)
Interest paid	$	15,567	$	13,475
Income taxes paid	$	2,689	$	3,249

The following provides supplemental disclosure of non-cash investing and financing activities (in thousands):

	Six Month Period Ended June 30,
	2013		2012
	(unaudited)
Property and equipment additions transferred from inventory	$	8,571	$	-
Property and equipment disposal recoverable through insurance proceeds	$	2,269	$	-
Property and equipment additions financed through capital leases	$	-	$	1,202
Non-cash Multi-client data swap asset recorded as deferred revenue	$	-	$	146
Original issue discount on notes payable	$	-	$	3,000
Non-cash property and equipment additions associated with swap of property and equipment	$	-	$	7,500
Non-cash property and equipment additions associated with data swap	$	-	$	1,751
Purchase price not paid at close of acquisition	$	-	$	2,993

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Note 9 - Capital Lease

6 Months Ended

Jun. 30, 2013

Leases [Abstract]

Sale Leaseback Transaction Disclosure [Text Block]

NOTE 9 – CAPITAL LEASE

From time to time, the Company enters into leases and sale and leaseback transactions to acquire certain seismic equipment, computer equipment and vehicles that are accounted for as capital leases. The balance outstanding under these capital leases as of June 30, 2013 and December 31, 2012 was $7.9 million and $9.8 million, respectively, at weighted average interest rates of 5.7% and 5.3%, respectively.

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Note 16 - Guarantees Of Registered Securities

6 Months Ended

Jun. 30, 2013

Guarantees [Abstract]

Guarantees [Text Block]

NOTE 16 – GUARANTEES OF REGISTERED SECURITIES

The Senior Notes are fully and unconditionally guaranteed, on a joint and several basis, by all subsidiaries of the Company organized in the United States. The non-guarantor subsidiaries are comprised of all subsidiaries organized outside of the United States.

Separate condensed consolidating financial statement information for the guarantor subsidiaries and non-guarantor subsidiaries as of June 30, 2013 and December 31, 2012 and for the three and six months ended June 30, 2013 and 2012 is as follows (in thousands):

	As of June 30, 2013 (Unaudited)
	Guarantors		Non-guarantors			Eliminations			Consolidated
BALANCE SHEET
ASSETS
Current assets	$	137,377	$	15,697		$	(63,316	)	$	89,758
Multi-client library, net		289,663		1,342			-			291,005
Property and equipment, net		89,499		2,003			-			91,502
Investment in subsidiaries		1		-			(1	)		-
Intercompany accounts		15,191		(15,191	)		-			-
Other non-current assets		29,958		229			-			30,187
TOTAL ASSETS	$	561,689	$	4,080		$	(63,317	)	$	502,452
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities	$	151,299	$	63,735		$	(63,316	)	$	151,718
Long-term debt and capital lease obligations, net of current portion and unamortized discount		247,685		-			-			247,685
Deferred income tax and other non-current liabilities		19,112		-			-			19,112
TOTAL LIABILITIES		418,096		63,735			(63,316	)		418,515
Stockholders' equity		143,593		(59,655	)		(1	)		83,937
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	561,689	$	4,080		$	(63,317	)	$	502,452

	As of December 31, 2012
	Guarantors		Non-guarantors			Eliminations			Consolidated
BALANCE SHEET
ASSETS
Current assets	$	150,864	$	21,761		$	(60,854	)	$	111,771
Multi-client library, net		309,031		36			-			309,067
Property and equipment, net		97,129		3,043			-			100,172
Investment in subsidiaries		1		-			(1	)		-
Intercompany accounts		20,589		(20,589	)		-			-
Other non-current assets		31,728		137			-			31,865
TOTAL ASSETS	$	609,342	$	4,388		$	(60,855	)	$	552,875
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities	$	102,568	$	58,612		$	(60,854	)	$	100,326
Long-term debt and capital lease obligations, net of current portion and unamortized discount		315,426		-			-			315,426
Deferred income tax and other non-current liabilities		29,575		-			-			29,575
TOTAL LIABILITIES		447,569		58,612			(60,854	)		445,327
Stockholders' equity		161,773		(54,224	)		(1	)		107,548
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	609,342	$	4,388		$	(60,855	)	$	552,875

	Three Month Period Ended June 30, 2013 (Unaudited)
	Guarantors			Non-guarantors			Eliminations			Consolidated
STATEMENTS OF OPERATIONS
Revenues	$	49,965		$	15,075		$	(1,688	)	$	63,352
Operating expenses		44,065			12,770			(1,537	)		55,298
Selling, general and administrative expenses		17,393			3,367			(151	)		20,609
Loss from operations		(11,493	)		(1,062	)		-			(12,555	)
Interest expense, net		(8,387	)		(43	)		-			(8,430	)
Other income (expense), net		44			(362	)		-			(318	)
Loss before income taxes		(19,836	)		(1,467	)		-			(21,303	)
Income tax expense (benefit)		(5,966	)		564			-			(5,402	)
Loss after income taxes		(13,870	)		(2,031	)		-			(15,901	)
Net loss, attributable to noncontrolling interests		(115	)		-			-			(115	)
Net loss, attributable to common shareholders	$	(13,755	)	$	(2,031	)	$	-		$	(15,786	)

	Three Month Period Ended June 30, 2012 (Unaudited)
	Guarantors			Non-guarantors			Eliminations			Consolidated
STATEMENTS OF OPERATIONS
Revenues	$	59,787		$	40,667		$	(3,082	)	$	97,372
Operating expenses		41,181			33,568			(2,774	)		71,975
Selling, general and administrative expenses		7,669			4,725			(308	)		12,086
Income from operations		10,937			2,374			-			13,311
Interest income (expense), net		(7,935	)		1			-			(7,934	)
Other income (expense), net		817			(1,992	)		-			(1,175	)
Income before income taxes		3,819			383			-			4,202
Income tax expense		995			711			-			1,706
Income (loss) after income taxes		2,824			(328	)		-			2,496
Net loss, attributable to noncontrolling interests		(50	)		-			-			(50	)
Net income (loss), attributable to common shareholders	$	2,874		$	(328	)	$	-		$	2,546

	Six Month Period Ended June 30, 2013 (Unaudited)
	Guarantors			Non-guarantors			Eliminations			Consolidated
STATEMENTS OF OPERATIONS
Revenues	$	126,323		$	23,465		$	(3,027	)	$	146,761
Operating expenses		109,785			20,564			(2,681	)		127,668
Selling, general and administrative expenses		30,296			6,699			(346	)		36,649
Loss from operations		(13,758	)		(3,798	)		-			(17,556	)
Interest expense, net		(16,648	)		(151	)		-			(16,799	)
Other income (expense), net		72			(256	)		-			(184	)
Loss before income taxes		(30,334	)		(4,205	)		-			(34,539	)
Income tax expense (benefit)		(8,198	)		1,226			-			(6,972	)
Loss after income taxes		(22,136	)		(5,431	)		-			(27,567	)
Net loss, attributable to noncontrolling interests		(239	)		-			-			(239	)
Net loss, attributable to common shareholders	$	(21,897	)	$	(5,431	)	$	-		$	(27,328	)

	Six Month Period EndedJune 30, 2012 (Unaudited)
	Guarantors			Non-guarantors			Eliminations			Consolidated
STATEMENTS OF OPERATIONS
Revenues	$	120,790		$	78,792		$	(6,099	)	$	193,483
Operating expenses		67,807			70,270			(5,409	)		132,668
Selling, general and administrative expenses		14,917			13,399			(690	)		27,626
Income (loss) from operations		38,066			(4,877	)		-			33,189
Interest income (expense), net		(15,052	)		3			-			(15,049	)
Other income (expense), net		390			(1,859	)		-			(1,469	)
Income (loss) before income taxes		23,404			(6,733	)		-			16,671
Income tax expense		5,320			2,135			-			7,455
Income (loss) after income taxes		18,084			(8,868	)		-			9,216
Net loss, attributable to noncontrolling interests		(260	)		-			-			(260	)
Net income (loss), attributable to common shareholders	$	18,344		$	(8,868	)	$	-		$	9,476

	Six Month Period Ended June 30, 2013 (Unaudited)
	Guarantors			Non-guarantors			Eliminations		Consolidated
STATEMENTS OF CASH FLOWS
Net cash provided by (used in) operating activities	$	42,338		$	(2,177	)	$	-	$	40,161
Net cash used in investing activities		(50,652	)		(2,060	)		-		(52,712	)
Net cash provided by (used in) financing activities		(706	)		579			-		(127	)
Net decrease in cash and cash equivalents	$	(9,020	)	$	(3,658	)	$	-	$	(12,678	)

	Six Month Period EndedJune 30, 2012 (Unaudited)
	Guarantors			Non-guarantors			Eliminations		Consolidated
STATEMENTS OF CASH FLOWS
Net cash provided by operating activities	$	59,328		$	488		$	-	$	59,816
Net cash used in investing activities		(85,057	)		(86	)		-		(85,143	)
Net cash provided by (used in) financing activities		28,983			(1,241	)		-		27,742
Net increase (decrease) in cash and cash equivalents	$	3,254		$	(839	)	$	-	$	2,415

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Note 14 - Segment Information

6 Months Ended

Jun. 30, 2013

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

NOTE 14 – SEGMENT INFORMATION

In accordance with the way management views the business, the Company has two reportable segments: Proprietary Services and Multi-client Services.

The following table sets forth significant information concerning the Company’s reportable segments as of and for the three and six months ended June 30, 2013 and 2012 (in thousands):

	As of and for the Three Month Period Ended June 30, 2013 (Unaudited)
	Proprietary Services			Multi-Client Services		Corporate			Total
Revenues	$	26,774		$	36,578	$	-		$	63,352
Segment income (loss) before taxes	$	(9,760	)	$	5,223	$	(16,766	)	$	(21,303	)
Segment assets	$	30,778		$	311,153	$	160,521		$	502,452

	As of and for the Three Month Period Ended June 30, 2012 (Unaudited)
	Proprietary Services		Multi-Client Services		Corporate			Total
Revenues	$	58,578	$	38,794	$	-		$	97,372
Segment income (loss) before taxes	$	4,719	$	7,851	$	(8,368	)	$	4,202
Segment assets	$	54,078	$	299,731	$	184,560		$	538,369

	As of and for the Six Month Period Ended June 30, 2013 (Unaudited)
	Proprietary Services			Multi-Client Services		Corporate			Total
Revenues	$	54,210		$	92,551	$	-		$	146,761
Segment income (loss) before taxes	$	(15,188	)	$	5,065	$	(24,416	)	$	(34,539	)
Segment assets	$	30,778		$	311,153	$	160,521		$	502,452

	As of and for the Six Month Period Ended June 30, 2012 (Unaudited)
	Proprietary Services		Multi-Client Services		Corporate			Total
Revenues	$	123,413	$	70,070	$	-		$	193,483
Segment income (loss) before taxes	$	17,629	$	12,826	$	(13,784	)	$	16,671
Segment assets	$	54,078	$	299,731	$	184,560		$	538,369

XML

Document And Entity Information	6 Months Ended
	Jun. 30, 2013	Aug. 12, 2013
Document and Entity Information [Abstract]
Entity Registrant Name	Global Geophysical Services Inc
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		38,090,479
Amendment Flag	false
Entity Central Index Key	0001311486
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Jun. 30, 2013
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q2

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Note 15 - Recently Issued Accounting Standards

6 Months Ended

Jun. 30, 2013

Table Text Block [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

NOTE 15 – RECENTLY ISSUED ACCOUNTING STANDARDS

During the six months ended June 30, 2013, there were no newly issued accounting standards that could have a material impact on the Company’s consolidated financial position, results of operations, or cash flows. Please refer to the discussion of recently issued accounting standards included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012.

XML

Note 14 - Segment Information (Details) - Significant Information Concerning The Company’s Reportable Segments (unaudited) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013 Proprietary Services [Member]	Jun. 30, 2012 Proprietary Services [Member]	Jun. 30, 2013 Proprietary Services [Member]	Jun. 30, 2012 Proprietary Services [Member]	Jun. 30, 2013 Multi-Client Services [Member]	Jun. 30, 2012 Multi-Client Services [Member]	Jun. 30, 2013 Multi-Client Services [Member]	Jun. 30, 2012 Multi-Client Services [Member]	Jun. 30, 2013 Corporate Segment [Member]	Jun. 30, 2012 Corporate Segment [Member]	Jun. 30, 2013 Corporate Segment [Member]	Jun. 30, 2012 Corporate Segment [Member]	Jun. 30, 2013 Total [Member]	Jun. 30, 2012 Total [Member]	Jun. 30, 2013 Total [Member]	Jun. 30, 2012 Total [Member]
Segment Reporting Information [Line Items]
Revenue	$ 63,352	$ 97,372	$ 146,761	$ 193,483	$ 26,774	$ 58,578	$ 54,210	$ 123,413	$ 36,578	$ 38,794	$ 92,551	$ 70,070					$ 63,352	$ 97,372	$ 146,761	$ 193,483
Segment income (loss) before taxes	(21,303)	4,202	(34,539)	16,671	(9,760)	4,719	(15,188)	17,629	5,223	7,851	5,065	12,826	(16,766)	(8,368)	(24,416)	(13,784)	(21,303)	4,202	(34,539)	16,671
Segment assets					$ 30,778	$ 54,078	$ 30,778	$ 54,078	$ 311,153	$ 299,731	$ 311,153	$ 299,731	$ 160,521	$ 184,560	$ 160,521	$ 184,560	$ 502,452	$ 538,369	$ 502,452	$ 538,369

XML

Note 14 - Segment Information (Details)	6 Months Ended
	Jun. 30, 2013
Segment Reporting [Abstract]
Number of Reportable Segments	2