Profile: ION Geophysical Corp (IO)
18 Jun 2019
ION Geophysical Corporation, incorporated on August 13, 2007, is a technology-focused company. The Company provides geophysical technology, services and solutions to the global oil and gas industry. The Company's offerings are designed to enable oil and gas exploration and production (E&P) companies to obtain images of the Earth's subsurface, which are used in hydrocarbon exploration and development. The Company offers services and products through three segments: E&P Technology & Services, E&P Operations Optimization, and Ocean Bottom Services (OBS). It acquires, processes and interprets seismic data from seismic surveys on a multi-client basis. The Company offers various technologies, which include Orca and Gator command and control software systems, WiBand broadband data processing technology, Calypso OBS acquisition system, Marlin simultaneous operations solution and other technologies.
E&P Technology & Services segment
The Company's E&P Technology & Services business segment provides three service activities. Its E&P Technology & Services business focuses on providing services and products for complex and hard-to-image geologies, such as deepwater subsalt formations in the Gulf of Mexico and offshore East and West Africa and Brazil; unconventional reservoirs, such as those found onshore in shale, tight gas and oil sands formations, and offshore basin-wide seismic data and imaging programs. Its Ventures group provides services designed to manage the entire seismic process, from survey planning and design to data acquisition and management through subsurface imaging and reservoir characterization. Its Ventures group focuses on the geologically intensive components of the image development process, such as survey planning and design, and data processing and interpretation, outsourcing the logistics components (such as field acquisition) to experienced seismic and other geophysical contractors. Its Imaging Services group offers data processing and imaging services. As of December 31, 2016, it maintained more than 17 petabytes of seismic data digital information storage in four global data centers, including two data centers located in Houston and in the United Kingdom. Its E&P Advisors group partners with E&P operators, energy industry regulators and capital institutions to capture and monetize E&P opportunities across the world. This group provides technical, commercial and strategic advice across the E&P value chain, working at basin, prospect and field scales.
E&P Operations Optimization segment
The Company's E&P Operations Optimization segment combines its Optimization Software and Services and Devices offerings. The Company's Optimization Software and Services business provides command and control software systems, related software and services for towed marine streamer and ocean bottom seismic operations, as well as survey design. Its Orca software system is installed on towed streamer vessels across the world, and its Gator software is used on various ocean bottom seismic surveys. Its Marlin solution focuses on optimizing simultaneous operations during all phases of an offshore asset's lifecycle, from exploration, through appraisal, development and production. Its Devices business is engaged in the manufacture and repairs of marine towed streamer acquisition and positioning systems and analog geophone sensors.
Ocean Bottom Services segment
The Company's Ocean Bottom Services segment consists of OceanGeo, an ocean bottom data acquisition services company along with the manufacturing, engineering, research and development of ocean bottom systems. The Company, through its OceanGeo, offers an integrated OBS solution. The integrated OBS solution include survey design, planning and optimization, data captured using multicomponent acquisition systems available to OceanGeo; data acquisition at OceanGeo, and data processing, interpretation and reservoir services. In addition, OceanGeo is engaged in the manufacture of redeployable ocean bottom cable seismic data acquisition systems.
The Company competes with CGG, Schlumberger, TGS-NOPEC Geophysical Company ASA, Spectrum ASA, China National Petroleum Corporation, WesternGeco L.L.C., Fairfield Nodal, Seabed GeoSolutions, Magseis, Petroleum GeoServices ASA and Geospace Technologies.
ION Geophysical Corp
2105 Citywest Blvd Ste 100
HOUSTON TX 77042-2855