HOUSTON, July 29, 2019 /PRNewswire/ -- ION Geophysical
Corporation (NYSE: IO) today announced a new 3D multi-client
reimaging program offshore Denmark. The initial 2,200 sq km
phase of the 10,250 sq km program is aligned with the Danish Energy
Agency's objective to boost exploration activity by providing a
modern, affordable 3D depth-imaged data set. The program is
ideally suited for upcoming biannual license rounds, the ninth of
which is expected to open in 2020. Initial deliverables are
expected to be available in September
2019 with final deliverables in January 2020.
"The North Sea is one of the most prolific hydrocarbon basins in
the world and the Danish sector has been producing oil and gas for
nearly five decades," said Joe
Gagliardi, Senior Vice President of ION's Ventures
group. "As a stable and attractive oil and gas investment
area with an estimated 3 billion barrels of reserves, the fresh
turnover of blocks and new players provides an exciting opportunity
for a regional depth-imaged 3D survey to help drive a new wave of
exploration success. We are leveraging our proprietary
imaging experience and advanced model building and imaging tools,
including full waveform inversion, to tackle the imaging challenges
associated with the area. We are confident this product will
support E&P operators as they seek to maximize the value of
these remaining reserves."
To learn more, visit iongeo.com/Denmark.
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 7,
2019. 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