HOUSTON, June 3, 2019 /PRNewswire/ -- ION Geophysical
Corporation (NYSE: IO) today announced the completion of all 4Sea™
system components designed to revolutionize the safety, efficiency,
quality and turnaround time of seabed data acquisition and
imaging. Next generation ocean bottom technology provides an
opportunity to drastically improve the economics of today's very
expensive surveys to significantly expand the number of fields or
scope of programs where this superior imaging technology can be
applied.
4Sea's transformational architecture enables a paradigm shift in
performance by centralizing operational data to power analytics and
optimize decision-making using intelligent software and novel
hardware. The following 4Sea components are designed to
optimize ocean bottom surveys from initial planning to final
processing, and while they can be used individually, maximum value
is achieved as an integrated system:
- Gator™ is ION's leading ocean bottom command and control system
providing intelligent connectivity and optimization for all 4Sea
components.
- MESA® SimSurvey™ is a software tool that optimizes
survey parameters by rapidly modeling multiple acquisition
scenarios to achieve imaging objectives as safely and cost
effectively as possible.
- Marlin™ is an application that, similar to air traffic control,
integrates activities across time and space with operational rules
to improve situational awareness, safety and efficiency.
- The automated back deck is designed to significantly improve
the safety and efficiency of seabed surveys by de-manning
operations and tripling typical node deployment and retrieval
speeds.
- New sensors capture a broader spectrum of frequencies to
produce higher resolution images.
- SailWing™ is a light foil-based alternative to conventional
bulky marine diverters for smarter, faster source vessel
performance, reducing turn times by up to two-thirds and reducing
repair time.
- The QA/QC system establishes an integrated and automated data
flow from the sources and receivers that eliminates user-intensive
workflows in an environment of ever increasing acquisition rates
and data densities while providing ship-to-shore diagnostics to
ensure data integrity and accelerated data delivery through the
subsequent data processing cycle.
"ION has over a decade of experience developing and deploying
ocean bottom systems around the world," said Chris Usher, ION's President and Chief Executive
Officer. "E&P companies greatly value higher resolution
seabed data to optimize reservoir development and production
decisions, but the high cost has historically limited its
application. With advances in digitalization, we took a fresh
look at what would deliver a step-change in performance to make
this technology feasible for broader applications. We
envisioned a modern data-centric approach combined with intelligent
software and innovative hardware that could enable smarter
planning, improved execution and holistic decision-making across
seabed operations. After extensive development and testing,
I'm pleased that 4Sea components are delivering, and often
exceeding, target goals to enable our customers to capture benefits
spanning improved safety, efficiency, image quality and turnaround
time for ocean bottom data."
To learn more, visit iongeo.com/4Sea.
About ION
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.
Contacts
ION (Investor relations)
Executive Vice President and Chief Financial Officer
Steve Bate, +1 281.552.3011
steve.bate@iongeo.com
ION (Media relations)
Vice President, Communications
Rachel White, +1 281.781.1168
rachel.white@iongeo.com
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
forward-looking statements.
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SOURCE ION Geophysical Corporation