HOUSTON, Nov. 12, 2019 /PRNewswire/ -- ION Geophysical
Corporation (NYSE: IO) today announced the Company was awarded a
large two-year ocean bottom nodal data processing and imaging
contract by ARGAS. ION will deliver high-end time and depth
imaging to facilitate exploration and production of the acquired
area. Full waveform inversion (FWI) will be a key component
in the workflow to achieve a high resolution velocity model for
depth imaging and seismic inversion for reservoir
characterization.
"We are pleased to continue expanding our seabed imaging work in
the Middle East through successful
collaboration with ARGAS and Saudi Aramco," said Ken Williamson, Executive Vice President and
Chief Operating Officer of ION's E&P Technology and Services
group. "Recognized as imaging leaders in ocean bottom seismic
and FWI, ION has closely collaborated with several customers on
exploration and production projects and delivered valuable insights
to impact their decisions and plans. Cutting-edge model
building and imaging tools, such as FWI, can help reduce risk and
enable more effective decisions. ION was selected for this
project due to our exceptional customer service, relevant local
experience and advanced seabed imaging technology."
To learn more, visit iongeo.com/Imaging.
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