02:26 PM EDT, 06/17/2025 (MT Newswires) -- (Update with stock price movement in the headline and first paragraph.)

Geospace Technologies ( GEOS ) shares surged 31.6% in recent Tuesday trading, a day after it was awarded a permanent reservoir monitoring contract for Mero Fields 3 and 4 from Petrobras, operator of the Mero field consortium.

The multi-year contract, which commences in June, includes the engineering, procurement, construction, and operation of the OptoSeis permanent reservoir monitoring system, the firm said.

The monitoring system will help oversee and optimize oil production from the Mero field, it added.

Price: 9.07, Change: +2.18, Percent Change: +31.64