HOUSTON, Oct. 30, 2018 /PRNewswire/ -- ION Geophysical Corporation (NYSE: IO) today announced a new 3D multi-client program onshore Mexico, which is fully supported by industry funding. The Tabasco 3D reimaging program will seamlessly integrate and reimage 46 data sets with the latest technology into a contiguous volume that ties the onshore and offshore plays at the prospect and regional scale. The initial 6,500 sq km phase of the 19,000 sq km program has commenced and is expected to be completed during Q1 2019.
"While the Sureste basin has been extensively explored, we believe newly reimaged data will reveal insights that will unlock additional exploration potential at a low evaluation cost," said Joe Gagliardi, Senior Vice President of ION's E&P Business Development. "This data set builds on our reimaging success in the area and will allow clients to tie and compare offshore 3D data and potential exploration targets to existing onshore production. ION has repeatedly demonstrated its unique ability to rapidly and cost-effectively deliver a cohesive regional perspective using existing 3D seismic and well data."
To learn more, visit iongeo.com/Tabasco.
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.
ION (Investor relations)
Executive Vice President and Chief Financial Officer
Steve Bate, +1 281.552.3011
ION (Media relations)
Vice President, Communications
Rachel White, +1 281.781.1168
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, 2017, filed on February 8, 2018. 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.
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SOURCE ION Geophysical Corporation