Geokinetics Inc. (NYSE Alternext: GOK) announced that its Board of Directors has approved a capital expenditure budget for 2009 of $37.3m, which is a reduction of over 50% from capital expenditures in 2008. The company expects investments in 2009 to be targeted toward maintenance and selective additions of vessels and other equipment to improve the efficiency of the company's shallow water operations, support equipment for long-term projects in South America and West Africa and the continued implementation of new information technology systems. In addition, the company's Board of Directors approved a $12.7m investment in an interest in data that the company will retain in conjunction with a data acquisition survey that will be completed by the company.