HOUSTON, July 26, 2017 /PRNewswire/ -- ION
Geophysical Corporation (NYSE: IO) today announced that its imaging
services supported the historic Zama-1 discovery offshore
Mexico made by Talos Energy, LLC
(Talos) and their partners. Zama-1 is the first offshore
exploration well drilled by the private sector in Mexico's history and is estimated to hold 1.4
to 2.0 billion barrels of oil in place.
ION closely collaborated with Talos to reprocess and reimage
data over all their blocks offshore Mexico. The Gulf of Mexico is one of the most complex oil
and gas provinces and requires advanced techniques to truly
understand the challenging subsurface. The combination of
ION's extensive imaging experience in the Gulf of Mexico and proprietary processing
technologies cost-effectively maximized data quality, delivering
high resolution images that improved and de-risked prospect
identification for the consortium.
John Parker, Executive Vice
President of Exploration, Talos, commented, "The successful
evaluation of the Zama prospect is a result of the tremendous
collaboration between Talos, our consortium partners, Sierra Oil
and Gas S. de R.L de C.V. and Premier Oil Plc, and ION. Talos
launched this proprietary reprocessing project in March 2016, confident that ION could achieve
significant improvement in imaging compared to the original
data. ION's proprietary reprocessing of seismic data over
Blocks 2 and 7 delivered significant uplift with superior images of
multiple prospects, including Zama. ION completed the project
on time and on budget. The Zama-1 results make a number of
these additional prospects, both shallow and deep, look very
attractive."
"As the first exploration well and discovery drilled by the
private sector in Mexico in 79
years, Zama-1 is both a historic and significant discovery for
Mexico and our clients. We
are honored to have played a role in their journey to success,"
said Ken Williamson, Executive Vice
President and Chief Operating Officer of ION's E&P Technology
and Services group. "Tight collaboration with the consortium,
almost 10 years of experience imaging the basin, and the
application of the right technologies were key to accomplishing the
consortium's imaging objectives. ION continues advancing its
processing capabilities to gain significantly greater value from
seismic data to reduce the risk and cost of exploration and enable
new discoveries."
To learn more, visit iongeo.com/Zama1.
About ION
ION is a leading provider of technology-driven solutions to the
global oil & gas industry. ION's offerings are designed to help
companies reduce risk and optimize assets throughout the E&P
lifecycle. For more information, visit iongeo.com.
About Talos Energy
Talos is a technically driven independent exploration and
production company focused on the exploration, development and
acquisition of oil and natural gas properties primarily in the Gulf
of Mexico Developed Deepwater and Shelf and on the Texas and Louisiana Gulf Coast, with year-end
net proved reserves of over 100 million BOE and production of
approximately 30,000 BOE/day net to the Company's interest. During
2015, we leveraged our technical and operational expertise in the
Gulf of Mexico and expanded our
acreage position into two shallow water exploration blocks off the
coast of Mexico. The Company's
website is located at www.talosenergyllc.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
Talos Energy
Brian
Kennedy, +1.713.353.5402
brian.kennedy@fticonsulting.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 risks associated with the timing
and development of the Company's products and services, the
competitiveness of offers, pricing pressure, decreased demand, and
changes in oil prices; and political, execution, regulatory, and
currency risks. 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-Q 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