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SEITEL EXPANDS INTO SEISMIC DATA BROKERAGE & MANAGEMENT; FORMS SUBSIDIARY TO SERVE AS EXCLUSIVE MARKETING AGENT

 SEITEL EXPANDS INTO SEISMIC DATA BROKERAGE & MANAGEMENT;
 FORMS SUBSIDIARY TO SERVE AS EXCLUSIVE MARKETING AGENT
 HOUSTON, Sept. 14 /PRNewswire/ -- Seitel, Inc. (NYSE: SEI and SEI.F), one of the leading developers and marketers of seismic data in the petroleum industry, announced that it has also expanded into the exclusive marketing and management of proprietary seismic libraries owned by oil and gas companies.
 Seitel said it has formed a wholly owned subsidiary, Datatel, Inc., which has commenced operations as the exclusive marketing/management agent for Texaco Inc.'s large domestic library of seismic surveys, totaling over 400,000 miles of data offshore and onshore the United States.
 Seismic surveys are geoscientific information fundamental to the exploration and development of natural gas and crude oil.
 Datatel said it plans to represent other prominent petroleum producers, which have quality seismic libraries, as their exclusive marketing/management agent.
 "Our entering the data brokerage and management business represents another step in Seitel's strategy of being the most complete resource available for quality seismic data," said Paul A. Frame, president and chief executive officer of Seitel.
 Directing the Datatel operation is Jesse R. Marion, who is executive vice president of the new subsidiary as well as vice president of sales of Seitel. Prior to joining Seitel this past spring, Marion was executive vice president - marketing of First Seismic Corp. (NASDAQ: FSEI), whose primary business is seismic data brokerage.
 Datatel, in addition to having offices at Seitel's new corporate headquarters in Houston, will maintain sales offices in New Orleans and Denver.
 Seitel's core business is the creation of seismic surveys and the marketing of data from its library. Seitel owns more than 400,000 miles of seismic surveys, one of the largest independent seismic data bases in the world. Up until this year, the company concentrated on high-quality two-dimensional seismic data.
 This year, Seitel has entered the burgeoning field of three- dimensional seismic surveys, which provide a more detailed depiction of the Earth's subsurface than 2D data. The company is currently conducting its first 3D data-creation program, an onshore seismic survey in Louisiana that is being underwritten by several leading oil and gas companies, which is the only 3D seismic being done on a "group- participation" basis in the U.S. Gulf Coast today.
 Seitel serves more than 140 clients, including all 20 of the major U.S. petroleum producers, many large and small independent oil and gas explorationists, and a growing number of foreign companies.
 -0- 9/14/92
 /CONTACT: Jay M. Green, director of investor relations of Seitel, 203-629-0633/
 (SEI FSEI) CO: Seitel, Inc. ST: Texas IN: OIL SU: PDT


SH -- NY013 -- 8913 09/14/92 08:55 EDT
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Publication:PR Newswire
Date:Sep 14, 1992
Words:444
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