HOUSTON, May 1, 2006 /PRNewswire-FirstCall via COMTEX News Network/ — Input/Output, Inc. (NYSE: IO)
announced today that Apache Corporation (NYSE: APA), a leading independent oil
& gas producer, will deploy and test the FireFly(TM) seismic acquisition
system on key E&P assets around the world. Apache joins BP in becoming a
launch partner for a multi-year field trial of a 10,000 station, cableless
FireFly land imaging system from I/O.
Mike Bahorich, Executive Vice President of E&P Technology at Apache,
commented on the agreement, “Since we announced our full-wave technology
acceleration alliance with I/O in 2003, Apache has been using full-wave
technology on several strategic assets around the world. FireFly is a natural
progression to obtaining higher resolution seismic images, since the system
supports the cost-effective recording of full-wave data with far greater
sampling density than other land seismic technologies. We are excited to be
working with I/O to validate the gains in image quality and productivity that
we anticipate from using a cableless recording system. We expect to deploy
the system in parts of the world with sensitive acquisition conditions, since
a key goal for Apache is minimizing our impact on the environment.”
Announced at the SEG (Society of Exploration Geophysicists) annual meeting
in November 2005, FireFly is the latest full-wave recording platform in the
I/O portfolio. FireFly combines proven wireless communication, data storage,
and power technologies from other industries in a seismic recording system
that operates without cables. With its cableless architecture, FireFly offers
dramatic improvements in system weight, operational productivity, and health,
safety, and environmental (HSE) performance.
Jim Hollis, VP of New Ventures – FireFly at I/O, commented, “Apache is
increasingly known as one of the thought-leaders in developing and adopting
innovative exploration and production technologies. The FireFly agreement
extends our close collaboration with them in the area of seismic technology.
We are pleased to have Apache as a FireFly launch partner and look forward to
working with their technical and operational leaders to maximize Apache’s
economic benefit from this revolutionary system.”
Over the next several months, Apache and I/O will be finalizing the
imaging program for Apache’s first deployment of FireFly, currently planned
for the first quarter of 2007.
For more information on FireFly, please visit http://www.i-o.com/firefly .
I/O is a leading, technology-focused seismic solutions provider. The
company provides cutting-edge seismic acquisition equipment, software, and
planning and seismic processing services to the global oil and gas industry.
I/O’s technologies are applied in both land and marine environments, in
traditional 2D and 3D surveys, and in rapidly growing areas like time-lapse
(4D) reservoir monitoring and full-wave imaging. Headquartered in Houston,
Texas, I/O has regional offices in Canada, Latin America, Europe, China,
Russia, Africa and the Middle East. Additional information is available at
The information included herein contains 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. Actual results may vary fundamentally
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 risk factors that are
disclosed by I/O from time to time in its filings with the Securities and
Contact: Kelly Smith, Director – Corporate Marketing Communications
1 281 879 3593 or firstname.lastname@example.org
FireFly(TM) is a trademark of Input/Output, Inc.
SOURCE Input/Output, Inc.