HOUSTON, Aug. 6, 2015 /PRNewswire/ — ION Geophysical Corporation (NYSE: IO) today announced the availability of fast-track pre-stack time migrated (PSTM) data from the first phase of its MexicoSPAN™ program. Currently being acquired, phase one encompasses more than 22,000 km of deep-imaged two-dimensional (2D) seismic data. Fast-track data delivery is being prioritized to coincide with the remaining lease sale of Mexico’s Round 1 bid round.
Combined with ION’s YucatanSPAN™, GulfSPAN™ and FloridaSPAN™ programs, MexicoSPAN will deliver the industry’s only complete, basin-wide regional view of the Gulf of Mexico. For the first time, explorationists will be able to fully integrate seismic, well and even outcrop information from onshore U.S. to the Deepwater Gulf.
Joe Gagliardi, Senior Vice President of ION’s Ventures vertical, commented, “We are convinced that this fast-track migrated data from the most modern regional seismic dataset of the region will give our clients a distinct competitive advantage in the time leading up to the remaining lease sale of Round 1.”
ION plans to complete acquisition of phase one in September and commence phase two immediately thereafter. For more information, visit iongeo.com/MexicoSPAN.
ION is a leading provider of technology-driven solutions to the global oil & 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.
ION (Investor relations)
Executive Vice President and Chief Financial Officer
Steve Bate, +1 281.552.3011
ION (Media relations)
Vice President, Marketing & Communications
Karen Abercrombie, +1 713.366.7281
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, the competitiveness of offers, 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-Q 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