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ION nearly quadruples 2D multi-client data offshore Argentina in advance of license round

HOUSTON, Dec. 4, 2017 /PRNewswire/ -- ION Geophysical Corporation (NYSE: IO) today announced it is offering a 2D multi-client data package offshore Argentina in advance of the 2018 license round.  ION has delivered a regional framework consisting of approximately 30,000 km of data over the Austral and Malvinas basins' relatively under-explored petroleum region.  For almost 10 years, ION's 11,500 km of ArgentineSPAN was the only dataset available in the Argentine offshore.  The knowledge gained from working these data enabled us to confidently incorporate and interpret the 30,000 km of vintage data into our extensive regional understanding offshore Argentina.  ION secured the seismic data and well reports with exclusive licensing rights. 

ION will provide a full interpretation report detailing the exploration history, the geologic framework and an inventory of potential leads to jumpstart exploration efforts there in advance of the anticipated license round in 2018.  The complete seismic database is available now and the full interpretation report will be completed in December 2017.

Joe Gagliardi, SVP of ION's Ventures group, said, "ION continues to be a leader in frontier exploration and fit-for-purpose solutions.  Acquiring access to this unique dataset has provided the opportunity for ION to get information into the hands of our clients at an early stage, which can be used for both acreage evaluation and assessment if other data is necessary for operators to build and execute a rapid evaluation strategy for the region in advance of the license round." 

To learn more, visit iongeo.com/AustralMalvinas.

About ION

ION is a leading provider of technology-driven solutions to the global oil and 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.

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 risks associated with the timing and development of the Company's products and services, 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-Qs and Form 8-Ks filed during the year. The Company expressly disclaims any obligation to revise or update any forward-looking statements.

 

View original content:http://www.prnewswire.com/news-releases/ion-nearly-quadruples-2d-multi-client-data-offshore-argentina-in-advance-of-license-round-300565718.html

SOURCE ION Geophysical Corporation