January 19, 2010 (FinancialWire) — Geokinetics Inc. (AMEX: GOK) said it has closed the sale of 207,200 shares of its common stock pursuant to the underwriters’ partial exercise of the over-allotment option, which Geokinetics granted in connection with a public offering of four million shares of its common stock.

RBC Capital Markets (NYSE: RY) and Raymond James & Associates (NYSE: RJF) served as joint book-running managers for the public offering.

The partial exercise of the over-allotment option brings the expected total net proceeds of the offering to around $36.6 million, according to Geokinetics.

Geokinetics plans to use the net proceeds from the offering and over-allotment exercise to fund a portion of the cash purchase price of the acquisition of the on-shore seismic and multi-client seismic library business of Petroleum Geo-Services ASA, and any remaining net proceeds for general corporate purposes, which could include the costs to mobilize Geokinetics’ seismic crews.

Houston-based Geokinetics is a provider of seismic acquisition and seismic data processing services to the oil and gas industry.

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