HOUSTON, March 25, 2019 /PRNewswire/ -- ION
Geophysical Corporation (NYSE: IO) today announced a new 2D
multi-client reimaging program off the Pacific coast of Central
America. The Maya Reprocessing program covers unexplored open
acreage that has not had E&P activity in 40 years.
Previous exploration wells along the margin suggest the presence of
an active petroleum system in the Pacific forearc basins.
E&P companies can use these data to evaluate the prospective
areas identified from the reimaged data. The program covers
~9,000 km of data that extend from the Tehuantepec Basin of Southern Mexico to the Sandino Basin of
Western Nicaragua and creates a
calibrated data set. The program is expected to be completed
before the end of the year.
"We have repeatedly proven the value we can deliver by
seamlessly integrating and reimaging existing data sets," said
Joe Gagliardi, Senior Vice President
of ION's E&P Business Development. "This approach
provides a cost-effective way for our clients to evaluate
prospectivity of new areas. A broad range of E&P
companies are looking to add new low cost reserves to their
portfolios and are interested in exploring some new frontiers."
To learn more, visit iongeo.com/Maya.
ION develops and leverages innovative technologies, creating
value through data capture, analysis and optimization to enhance
critical decision-making, enabling superior returns. For more
information, visit iongeo.com.
ION (Investor relations)
Executive Vice President and Chief Financial Officer
Steve Bate, +1 281.552.3011
ION (Media relations)
Vice President, Communications
Rachel White, +1 281.781.1168
The information herein contains certain forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
These forward-looking statements may include information and other
statements that are not of historical fact. Actual results may vary
materially from those described in these forward-looking
statements. All forward-looking statements reflect numerous
assumptions and involve a number of risks and uncertainties. These
risks and uncertainties include the risks associated with the
timing and development of ION Geophysical Corporation's products
and services; pricing pressure; decreased demand; changes in oil
prices; and political, execution, regulatory, and currency risks.
These risks and uncertainties also include risks associated with
the WesternGeco litigation and other related proceedings. We cannot
predict the outcome of this litigation or the related proceedings.
For additional information regarding these various risks and
uncertainties, including the WesternGeco litigation, see our Form
10-K for the year ended December 31,
2018, filed on February 8,
2019. Additional risk factors, which could affect actual
results, are disclosed by the Company in its fillings with the
Securities and Exchange Commission ("SEC"), including its Form
10-K, Form 10-Qs and Form 8-Ks filed during the year. The Company
expressly disclaims any obligation to revise or update any
SOURCE ION Geophysical Corporation