ION launches the second phase of the 3D multi-client in the North Sea
HOUSTON, June 03, 2021 (GLOBE NEWSWIRE) – ION Geophysical Corporation (NYSE: IO) today announced the start of a much larger second phase of its approximately 11,000 km² 3D multi-client program at sea from North. The proximity of the Mid North Sea High to the coast and to existing infrastructure translates into lower development costs, making the area particularly attractive to incumbents and new entrants. The second phase builds on a successful first phase last year, where modern acquisition technology from Shearwater and leading ION imagery produced exceptional underground images that revealed new information about this province. promising and under-explored British. ION is pleased to partner with Shearwater again for Phase Two, which, when completed in mid-October, will six-fold the program’s study area.
ION uses digital technologies to acquire the survey in a more environmentally friendly way. Use of the company’s Marlin ™ and Orca® software, ION incorporated the impacts of ocean currents into the survey design to maximize the efficiency of data collection during the short summer North Sea season while minimizing emissions. Additionally, using the company’s Marlin software, ION and Shearwater are working with fisheries to minimize disruption to both operations by coordinating the movements of vessels and equipment. ION and Shearwater are also supporting the industry’s Ghost Net initiative to create a healthier ocean environment by removing plastic and other marine debris.
“We are excited to start the second phase of Mid North Sea High, which has been in the works for some time and will start contributing to our profits this summer,” said Joe Gagliardi, senior vice president of the group. Ventures of ION. “The UK remains an attractive area for investment with one of the world’s highest yields per barrel. Until recently, Zechstein’s game had been largely overlooked because seismic technology was unable to properly resolve this complex and variable game. This program demonstrates how new, high-quality data can illuminate and unlock the potential of promising new coins. “
To learn more, visit iongeo.com/MidNorthSeaHigh3D.
Leveraging innovative technologies, ION provides powerful data-driven decision-making to offshore energy and marine operations markets, enabling clients to optimize investments and results through access to our data. , software and distinctive analyzes. Learn more at iongeo.com.
ION (Investor Relations)
Executive Vice President and Chief Financial Officer
Mike Morrison, +1 281.879.3615
ION (Media Relations)
Rachel White, +1 281.781.1168
The information contained in this document 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 which do not are not historical facts. Actual results may differ materially from those described in these forward-looking statements. All forward-looking statements reflect many assumptions and involve a number of risks and uncertainties. These risks and uncertainties include risks associated with the timing and development of ION Geophysical Corporation’s products and services; pressure on prices; declining demand; changes in oil prices; agreements made or entered into by OPEC members and other oil-producing countries to maintain production levels; the COVID-19 pandemic; the ultimate benefits of our completed restructuring operations; and political, enforcement, regulatory and currency risks. For more information regarding these various risks and uncertainties, see our Form 10-K for the year ended December 31, 2020, filed on February 12, 2021. Additional risk factors, which could affect actual results, are disclosed by the Company in its documents. with the Securities and Exchange Commission, including its Forms 10-K, 10-Q, and 8-K filed during the year. The Company expressly disclaims any obligation to revise or update any forward-looking statement.