The New Dawson
Geophysical
Forward Looking Statements
Statements in this presentation that relate to forecasts, estimates or other expectations regarding future
events, including without limitation, statements regarding our recently completed transaction, technological
advancements and the companies’ financial position, business strategy and plans and objectives of
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. When
used in this presentation, words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” and
similar expressions are intended to identify forward-looking statements. Such forward-looking statements
are based on the beliefs of management as well as assumptions made by and information currently
available to management. Actual results could differ materially from those contemplated by the forwardlooking statements as a result of certain factors, including but not limited to the risk that the benefits from
our recent strategic business combination with TGC Industries, Inc. (TGC) may not be fully realized or may
take longer to realize than expected; the ability to promptly and effectively integrate the businesses of
Dawson and TGC; the reaction of the companies’ customers, employees and counterparties to the
transaction; diversion of management time on transaction-related issues; the volatility of oil and natural gas
prices; dependence upon energy industry spending; disruptions in the global economy; industry
competition; reduced utilization; delays, reductions or cancellations of service contracts; high fixed costs of
operations and high capital requirements; external factors affecting our crews such as weather interruptions
and inability to obtain land access rights of way; the type of contracts we enter into; crew productivity;
limited number of customers; credit risk related to the companies’ customers; the availability of capital
resources and operational disruptions. A discussion of these and other factors, including risks and
uncertainties with respect to Dawson is set forth in Dawson’s Form 10-K for the fiscal year ended
September 30, 2014, and with respect to TGC, is set forth in TGC’s Form 10-K for the fiscal year ended
December 31, 2013. Dawson and TGC disclaim any intention or obligation to revise any forward-looking
statements, whether as a result of new information, future events or otherwise.
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Nasdaq: DWSN
The New Dawson Geophysical
Company

On October 8, 2014 Dawson Geophysical and TGC Industries
entered into a definitive agreement for the strategic business
combination. Transaction closed on February 11, 2015

Under the new structure the combined company continues to
operate as Dawson Geophysical with Eagle Canada as Dawson’s
Canadian operating brand

Board of Directors – 5 previous Dawson Board members and 3
previous TGC Board members

Total shares outstanding increased from 8.07MM to 21.60MM
after 3 to 1 reverse TGE stock split and issuance of 1.76 TGC shares
for each DWSN share

Fiscal Year-end changed from September 30 to December 31

Continue to trade on NASDAQ under DWSN
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Nasdaq: DWSN
About Dawson Geophysical

In business 62 years
Calgary

More than 100 years combined Company experience

A leading provider of U.S. onshore and Canadian
seismic data acquisition services (2-D and 3-D)
Denver
Pittsburgh

Expanded equipment base and improved logistics
designed to increase utilization and lower costs
Oklahoma City
Midland

Increased level of internal support services designed to
reduce outsourcing

Combined client base and order book to relieve pressure
on utilization rates
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Nasdaq: DWSN
Houston
New Dawson Management
and Board of Directors


The New Board of Directors

Stephen C. Jumper – Chairman of the Board, President and Chief Executive Officer

Wayne Whitener – Executive Vice Chairman

Craig W. Cooper – Lead Director, Retired Geophysicist

Gary M. Hoover, Ph.D – Retired Geophysicist

Ted R. North – Certified Public Account

Mark A. Vander Ploeg – Retired Investment Banker

William J. Barrett – President of W.J. Barrett Associates, Inc.

Allen T. McInnes, Ph.D – Emeritus Dean, Texas Tech University
Executive Management Team
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
Stephen C. Jumper – Chairman of the Board, President and Chief Executive Officer

Wayne Whitener – Executive Vice Chairman
Nasdaq: DWSN
Investment Highlights

Expanded geographical presence


Strengthened balance sheet




Increases operational efficiencies and logistics
Improves utilization rates and lowers costs
Improved processes drives efficiencies



Enhances operational and financial flexibility
Enables the Company to respond more quickly to client needs and market
conditions
Compatible equipment bases


Positioned to better serve clients through regional deployments
Leads to lower expenses and increased revenue
Reduce dependence on third party providers
Expanded client base and order book

6
Relieves pressure on utilization rates
Nasdaq: DWSN
Maintaining our Commitment
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
Remain a full-service provider of data acquisition and data
processing services

Maintain first-class Health, Safety and Environmental
Program

Retain continued commitment to superior land survey and
permitting services, expanded repair capabilities, trucking
services, data processing, research and development and
dynamite energy source drilling services

Sustain top rated platform of shared resources -- people,
equipment and services -- that flows through to our clients,
shareholders and employees
Nasdaq: DWSN
OPERATIONS
OVERVIEW
Measuring the Market

E&P company emphasis on exploration and developmental
activities

Seismic sector entering a new phase with a portfolio of both
exploration and developmental services

Demand for high-resolution images

Increased channel count

Enhances subsurface resolution

Complex geological structures

Helps reduce dry-hole risk and optimize production

Advancements in technology

Increased utilization of cable-less recording equipment

Increased emphasis on economic projects

Current commodity prices require companies to focus on
economic projects which seismic data helps to facilitate
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Nasdaq: DWSN
Demand Cycle
Seismic data acquisition and processing is needed at all
stages of the exploration and production process
Objective
Objective
CONVENTIONAL
PROSPECTING
IDENTIFY GEO-HAZARD
Exploration
Evaluation
Shoot It
Lease It
Map It
Shoot It
Exploitation
Lease It
Map It
Drill It
Drill It
Objective
MAXIMIZE PRODUCTION
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Shoot It
Map It
Drill It
Repeat
Nasdaq: DWSN
Primary Business Drivers

Data Acquisition








Data Processing


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Design
Permit
Survey
Field Operations
Maintenance
Support Functions
Dynamite energy
services
Midland, Houston,
Oklahoma City
In-field Services
Nasdaq: DWSN
Areas of Operation

12
14 Data Acquisition Crews Currently Spread Across Every
Major Basin in the Continental United States
Nasdaq: DWSN
Canadian Strength

Eagle Canada significantly
strengthens Dawson’s
Canadian presence

Leverage Eagle Canada’s
existing relationships and
strong brand name
recognition

Streamlined operations
increases efficiencies and
lowers costs

Eagle Canada to operate
four crews in 2014/2015
winter season
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Calgary
Nasdaq: DWSN
Canada
Robust Inventory Drives Results
Operating 14 Crews






4 ARAM ARIES Systems
8 GSR Systems
10,500 INOVA Hawk Channel
System
2,500 channels Wireless System
RT2000
80,000 channels of GSR multichannel boxes with 3-C
geophones
93,500 single-channel GSR Units
Vibrator Energy
Source Units
 240 energy source
units
 8 Envirovib units
Data Processing
Services
 Houston
Recording Channels

14
323,000
 Oklahoma City
 Midland
Nasdaq: DWSN
2015 Overview

Demand for Dawson services anticipated to be at reduced levels

Order book sufficient to sustain deployment of eleven to fourteen data
acquisition crews into second quarter of calendar 2015

Balance sheet strength remains strong with approximately $86,178,000 of
working capital and approximately $28,514,000 of debt – Pro forma S4 for
combination with TGC as of September 30, 2014

2015 Capex anticipated to be at maintenance levels

Expanded channel count to shorten cycle times and provide higher
resolution images
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Nasdaq: DWSN
Capital Structure



History of conservative
financial management
in a cyclical industry
Low debt – 36 month term
Loan Bank Debt
Well-positioned to respond
to future client demand
Balance Sheet Data
($ in thousands)
Pro forma At 09/30/14
Working Capital
Net Property, Plant
and Equipment
$195,066
Total Assets
$339,120
Debt

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$20 million undrawn
revolving line of credit
available
$86,178
Stockholders’
Equity
Nasdaq: DWSN
$28,514
$244,755
Corporate Profile

Current Stock Price: $5.99
(February 20, 2015)

Market Cap: $125 Million

Average Daily Volume: 95,000 shares

Shares Outstanding: 21.60 Million

Pre-transaction Fiscal Year-end
September 30; Post-transaction Fiscal
Year-end December 31
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Nasdaq: DWSN
A leading North American
land seismic data acquisition
company from coast-to-coast.
SEISMIC LEADERSHIP
NASDAQ:
DWSN
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Nasdaq: DWSN