FORM 5
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
[ ] Form 3 Holdings Reported
[ ] Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

                                                                                  

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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Avista Capital Partners GP, LLC

2. Issuer Name and Ticker or Trading Symbol

GEOKINETICS INC [GOK]

5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      __ X __ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)

(Last)          (First)          (Middle)

65 EAST 55 STREET, 18TH FLOOR

3. Statement for Issuer's Fiscal Year Ended (MM/DD/YYYY)
12/31/2011 
(Street)

NEW YORK, NY 10022

(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form Filed by One Reporting Person
___ Form Filed by More than One Reporting Person


Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Amount (A) or (D) Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YYYY)
7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Series B Dividend   (1) $ 15.95   (6) 3/15/2011     J   (3) 5596       12/15/2006     (8) Common Stock   87712     (3) 0   (4) I   (4) See Footnote 4, 7   (4) (7)
Series B Dividend   (2) $ 15.95   (6) 3/15/2011     J   (3) 1475       12/15/2006     (8) Common Stock   23119     (3) 0   (5) I   (5) See Footnote 5, 7   (5) (7)
Series B Dividend   (1) $ 15.95   (6) 6/15/2011     J   (3) 5733       12/15/2006     (8) Common Stock   89859     (3) 0   (4) I   (4) See Footnote 4, 7   (4) (7)
Series B Dividend   (2) $ 15.95   (6) 6/15/2011     J   (3) 1511       12/15/2006     (8) Common Stock   23683     (3) 0   (5) I   (5) See Footnote 5, 7   (5) (7)
Series B Dividend   (1) $ 15.95   (6) 9/15/2011     J   (3) 5873       12/15/2006     (8) Common Stock   92053     (3) 0   (4) I   (4) See Footnote 4, 7   (4) (7)
Series B Dividend   (2) $ 15.95   (6) 9/15/2011     J   (3) 1548       12/15/2006     (8) Common Stock   24263     (3) 0   (5) I   (5) See Footnote 5, 7   (5) (7)
Series B Dividend   (1) $ 15.95   (6) 12/15/2011     J   (3) 6016       12/15/2006     (8) Common Stock   94295     (3) 0   (4) I   (4) See Footnote 4, 7   (4) (7)
Series B Dividend   (2) $ 15.95   (6) 12/15/2011     J   (3) 1586       12/15/2006     (8) Common Stock   24859   (6)   (3) 0   (5) I   (5) See Footnote 5, 7   (5) (7)

Explanation of Responses:
( 1)  This line reports the issuance of payment in kind dividends for Series B Senior Convertible Preferred Stock ("Series B Stock") by Geokinetics, Inc. ("Company") to Avista Capital Partners, L.P. ("Avista") and is reported by Avista Capital Partners GP, LLC ("Avista GP") on behalf of Avista in accordance with remarks below
( 2)  This line reports the issuance of payment in kind dividends for Series B Stock by the Company to Avista Capital Partners (Offshore), L.P. ("Avista Offshore") and is reported by Avista GP on behalf of Avista Offshore in accordance with remarks below.
( 3)  Pursuant to the Second Amended and Restated Certificate of Designation of Series B Senior Convertible Preferred Stock, filed as Exhibit 1 to the Form 8-K filed by the Company on February 18, 2009, at the option of the Company, dividends payable on shares of Series B Stock on any quarterly dividend payment date through October 31, 2011, may be paid in additional shares of Series B Stock, instead of cash.
( 4)  As a result of the dividends of Series B Stock reported hereunder, Avista directly owns 252,836 shares of Series B Stock, and any shares of Series B Stock owned directly by Avista may be deemed to be indirectly owned by Avista GP.
( 5)  As a result of the dividends of Series B Stock reported hereunder, Avista Offshore directly owns 66,666 shares of Series B Stock, and any shares of Series B Stock owned directly by Avista Offshore may be deemed to be indirectly owned by Avista GP.
( 6)  The conversion price is determined by dividing the liquidation preference amount of $250 for the Series B Stock by the applicable conversion price, which may be adjusted for dilutive issuances, splits, combinations or the like.
( 7)  The filing of this Statement shall not be deemed as admission that, for purposes of Section 16 of the Securities Exchange Act of 1934 or otherwise, any Reporting Person is the beneficial owner of any securities covered by this Statement.
( 8)  Not applicable.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Avista Capital Partners GP, LLC
65 EAST 55 STREET, 18TH FLOOR
NEW YORK, NY 10022

X


Signatures
/s/ Ben Silbert, General Counsel 2/7/2012
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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