News Releases

Baker Botts Represents Dawson Geophysical Company in Seismic Data Asset Acquisition


Deal Description: On March 24, 2023, Dawson Geophysical Company (NASDAQ: DWSN) (“Dawson”) announced that it entered into an asset purchase agreement with Wilks Brothers, LLC and Breckenridge Geophysical, LLC ("Breckenridge"), pursuant to which Dawson purchased substantially all of the Breckenridge assets related to seismic data acquisition services (other than its multi-client data library). The transaction signed and closed simultaneously, and the parties have begun the integration of the acquired assets, employees and business into Dawson's operations.

Total consideration for the transaction consists of 7,000,000 shares of Dawson common stock. 

At closing, 1,188,235 shares were issued to Wilks, with the remaining 5,811,765 shares in the form of a convertible promissory note, with such shares automatically converting following shareholder approval at a special meeting contemplated to be held in early Q3 of 2023.

Baker Botts represented Dawson in the transaction. Dawson also engaged Houlihan Lokey Capital, Inc. as financial advisors and Porter Hedges LLP as outside counsel to the independent special committee.

Dawson Geophysical Company is a leading provider of North American onshore seismic data acquisition services with operations throughout the continental United States and Canada. Dawson acquires and processes 2-D, 3-D and multi-component seismic data solely for its clients, ranging from major oil and gas companies to independent oil and gas operators, as well as providers of multi-client data libraries. 

For more information, please see Dawson’s news release by clicking here.

Baker Botts Lawyers/Office Involved:

Corporate: Grant Everett (Partner, Dallas); Zach Fedorko (Associate, Dallas), Derek Gabriel (Associate, Dallas)

Tax: Steve Marcus (Partner, Dallas); Jordan Hahn (Associate, Dallas)

Employee Benefits: Jason Loden (Partner, Dallas)

Baker Botts is an international law firm whose lawyers practice throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit

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