HOUSTON, Jan. 13, 2020 /PRNewswire/ -- ION
Geophysical Corporation (NYSE: IO) today announced a new 3D
multi-client reimaging program offshore Uruguay. Leveraging the Company's
existing regional UruguaySPAN data and subsurface knowledge, ION is
reimaging 22,000 sq km of data over the country's deep water blocks
to create a contiguous volume for a holistic exploration
perspective of the margin. This program builds on ION's
excellent 3D merge and reimaging track record established on our
quarter of a million square kilometer data library, and adds
important geographical diversity to this unique product
offering.
"There has been renewed interest in exploring the South Atlantic
margin following a number of notable discoveries," said
Joe Gagliardi, Senior Vice President
of ION's Ventures group. "Uruguay recently launched a permanent bidding
round for offshore and onshore acreage, known as Open Uruguay
Round, which will be held bi-annually in May and November. To
revitalize exploration in this frontier basin, the government
changed their terms to be more commercial in the global
market. Exploration wells have documented aspects of a
working petroleum system. There are a number of promising
offshore opportunities that have not been tested and the new merged
volume will help reduce uncertainty in future pursuits."
To learn more, visit iongeo.com/Uruguay3D.
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, 2017, filed on February 8, 2018. Additional risk factors, which
could affect actual results, are disclosed by the Company in its
filings 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