ION expands West African 2D data library with new acquisition offshore Gabon

HOUSTON, June 21, 2017 /PRNewswire/ -- ION Geophysical Corporation (NYSE: IO) today announced a new 2D multi-client program offshore Gabon, EquatorSPAN™ II, in cooperation with the Gabon Ministry of Petroleum and Hydrocarbons, Direction Général des Hydrocarbures of Gabon (DGH).  The program includes over 1,900 km of new high-quality, deeply-imaged seismic data and is supported with industry prefunding.

EquatorSPAN II addresses the need for greater understanding of geologic conditions and basin evolution in support of future offshore license rounds.  The program will image the deep basin architecture, define the limits of the various basins along the equatorial margin and identify potential petroleum systems.  In addition, EquatorSPAN II integrates available offshore well data to regionally calibrate key stratigraphic horizons.

EquatorSPAN II is the newest addition to ION's data library, which includes over 500,000 km of 2D data and over 100,000 sq km of 3D data in exploration and production hot spots around the world.  The program will tie to existing ION data sets including EquatorSPAN™ I, CongoSPAN™ and NigeriaSPAN™ to enhance the West African regional framework.

Joe Gagliardi, SVP of ION's Ventures group, commented, "Deepwater oil exploration offshore West Africa has thrived over the last 20 years and this region remains an important component of many E&P companies' exploration portfolios.  In conjunction with existing and planned BasinSPAN surveys in adjacent countries, EquatorSPAN II will enhance the knowledge of the entire basin."

To learn more, visit iongeo.com/EquatorSPAN.

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
[email protected]

ION (Media relations)

Vice President, Communications
Rachel White, +1 281.781.1168
[email protected]

Direction Général des Hydrocarbures of Gabon (DGH)

Directeur Général des Hydrocarbures
Jacob Tsioba Thaty, +241 01 77 58 96
[email protected]

Directeur Général Adjoint Amont
Edgard Mbina-Kombila, +241 01 77 31 68 Ext. 2144
[email protected]  

Directeur de l'Exploration
Fanny-Flore Bissielo ép. Moukoumbi +241 01 77 31 68 Ext. 2154
[email protected]  

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.

SOURCE ION Geophysical Corporation

Related Links

http://www.iongeo.com

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