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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report
December 1, 2000
(Date of Earliest Event Reported)
SEITEL, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
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<S> <C>
76-0025431
0-14488 ----------
(Commission File Number) (IRS Employer Identification No.)
50 Briar Hollow Lane, West 7th Floor
Houston, Texas 77027
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(Address of principal executive offices) (Zip code)
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Registrant's telephone number, including area code
(713) 881-8900
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Item 4. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT.
Effective as of December 1, 2000, Seitel, Inc. (Seitel) has replaced
Arthur Andersen LLP (Arthur Andersen) as its independent accounting firm with
Ernst & Young LLP (Ernst & Young). The change of Seitel's independent public
accountants was approved by both the Audit Committee of the Board of Directors
and the Board of Directors of Seitel.
In connection with the audits of Seitel's financial statements for the
two fiscal years ended December 31, 1999, and the subsequent interim period
through December 1, 2000, Seitel and Arthur Andersen did not have any
disagreement on any matter of accounting principles or practices, financial
statement disclosure or auditing scope or procedure, which disagreement, if not
resolved to the satisfaction of Arthur Andersen would have caused it to make
reference in connection with its report on Seitel's financial statements to the
subject matter of the disagreement.
The reports of Arthur Andersen on Seitel's financial statements for the
fiscal years ended December 31, 1999 and 1998 did not contain an adverse opinion
or a disclaimer of opinion, and was not qualified or modified as to uncertainty,
audit scope, or accounting principles. During that period, there were no
"reportable events" within the meaning of Item 304(a)(1)(v) of Regulation S-K
promulgated under the Securities Act of 1933, as amended.
During Seitel's two fiscal years ended December 31, 1999, and the
subsequent interim period through December 1, 2000, Seitel did not consult Ernst
& Young regarding the application of accounting principles to a specified
transaction, either completed or proposed, or the type of audit opinion that
might be rendered on Seitel's financial statements.
Attached as Exhibit 16.1 to this Report on Form 8-K is a letter
addressed to the Securities and Exchange Commission stating that Arthur Andersen
agrees with the above statements.
Item 7. Exhibits
16.1 Letter from Arthur Andersen regarding its concurrence with the
statements in this Form 8-K.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.
Date: December 7, 2000
SEITEL, INC.
BY: /s/ Paul A. Frame
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PAUL A. FRAME
President and Chief Executive Officer
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