Subsequent Events

6 Months Ended

Jun. 30, 2016

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

On August 4, 2016, the Company announced it plans to realign its four business segments into three. The new segments will be E&P Operations Optimization, E&P Technology and Services, and Ocean Bottom Services. Beginning in the third quarter of 2016, the Company changed its reportable segments as described below:

• E&P Operations Optimization will now be comprised of Systems (to be renamed Devices), and Software. The manufacturing, engineering, research and development of ocean bottom systems will no longer be a part of Devices, and they will be within Ocean Bottom Services as noted below.

• E&P Technology and Services, formerly Solutions, will continue to be comprised of the groups that support our New Venture and Data Library (together multi-client) revenues and Imaging Services group (Data Processing revenues).

• Ocean Bottom Services (currently OceanGeo) will also include: the manufacturing, engineering, research and development of ocean bottom systems.

This realignment of the business segments will allow the Company to better direct its resources and simplify its operations. The Company will recast 2015 segment results on a quarterly basis for comparability purposes starting in the third quarter of 2016.