ION awarded extension of Gemini source deployment by Super Major
March 22 2021 - 4:15PM
ION Geophysical Corporation (NYSE: IO) today announced that the
Super Major currently deploying the Company’s Gemini™ extended
frequency source on a proprietary survey has elected to extend the
successful technology deployment. The Company reported the original
Middle East deployment in January. The extension will nearly double
the duration and area of the original commercial program,
validating the technology’s commercial readiness, data quality, and
operational and environmental benefits.
In today’s rapidly evolving energy landscape,
E&P customers are seeking the most effective technologies to
help rebalance their portfolios and achieve optimal ROI from their
assets throughout the energy transition. Many of the attractive
geographies for continued E&P investment coincide with some of
the world's most complex geological settings, where more accurate
imaging is essential for effective resource delineation and
extraction. Gemini uniquely supports innovative acquisition methods
that deliver the requisite improved data quality, with better
environmental compliance, for enhancing critical client
decision-making in these areas.
“We are delighted with our new offering’s robust
performance on this survey, which demonstrated low technical
downtime and achieved tight specifications for sailing speeds,”
said Chris Usher, ION’s President and Chief Executive Officer. “The
survey extension is a significant vote of confidence by the Super
Major and is now expected to wrap up in late May. In response to
strong industry demand, we plan to increase Gemini capacity
four-fold for programs this summer.”
To learn more, visit iongeo.com/Gemini.
About ION
Leveraging innovative technologies, ION delivers
powerful data-driven decision-making to offshore energy and
maritime operations markets, enabling clients to optimize
investments and results through access to our data, software and
distinctive analytics. Learn more at iongeo.com.
Contacts
ION (Investor relations)
Executive Vice President and Chief Financial
OfficerMike Morrison, +1 281.879.3615 mike.morrison@iongeo.com
ION (Media relations)
Vice President, CommunicationsRachel White, +1
281.781.1168rachel.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; agreements made or adhered to by
members of OPEC and other oil producing countries to maintain
production levels; the COVID-19 pandemic; our ability to complete
the Restructuring Transactions and other related matters in a
timely manner, if at all; and political, execution, regulatory, and
currency risks. For additional information regarding these various
risks and uncertainties, see our Form 10-K for the year ended
December 31, 2020, filed on February 12, 2021, and our Forms S-1
and S-4, filed on January 29, 2021, and amended on February 12,
2021 and March 3, 2021. 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.
ION Geophysical (NYSE:IO)
Historical Stock Chart
From Aug 2024 to Sep 2024
ION Geophysical (NYSE:IO)
Historical Stock Chart
From Sep 2023 to Sep 2024