A Calgary-based energy company just made headlines after it was announced the signing of a $6.4-million seismic data licensing sales contract. As the price of both crude and natural gas continue to climb, it is expected that E&P companies will potentially undergo substantial growth. Shares of Pulse Seismic Inc. (TSX:PSD) rallied on the news.
Pulse Seismic is a Canadian company which acts as a provider of seismic data to the energy sector in western Canada. The company is engaged in the acquisition, marketing, and licensing of 2D and 3D seismic data to the energy sector. It offers the full suite of project management services including On-site professional project management, experienced cost estimation services, daily reporting to clients and detailed project cost tracking, procurement of subcontractors to ensure regulatory compliance, and others.
Traders were bullish on the news as shares popped to $2.00/share (+3.63%). This move is a strong continuation of the success the stock has had over the last year coming from a 52-week low of just $0.61/share. The uptrend has been unstoppable as traders continue to blast through previous resistance levels.
