ION Geophysical Corporation (NYSE: IO) today announced that the Company’s climate-smart platform, Marlin SmartPort™, was featured in Gateways to Growth, a British Ports Association program highlighting ports’ vital contribution to society and the innovations shaping their pathway to net zero. Developed in collaboration with ports, Marlin SmartPort enables operations to be smarter, safer, and greener .
Q2 2021 preliminary financial results announcement
On July 15, 2021, ION Geophysical Corporation announced a preliminary financial outlook for the second quarter of 2021.
The Company expects second quarter 2021 revenues to be approximately $20 million, which is a 40% improvement if we compared it with Q2 2020.
The company’s total liquidity will be approximately $33 million consisted of $27 million of cash (including net revolver borrowings of $20 million) and approximately $6 million of remaining available borrowing capacity under the revolving credit facility at the end of the 2
nd quarter of 2021.
New Board members
On June 30, 2021, ION Geophysical Corporation announced the election of Mr. Mark Doran and Mr. Gary Pittman to its Board of Directors, effective June 28, 2021. Each was also appointed to the Audit Committee of the Board.
ION awarded exclusive agreement for 3D multi-client programs offshore Kenya
April 08, 2021 16:15 ET | Source: ION Geophysical Corporation ION Geophysical Corporation Houston, Texas, UNITED STATES
HOUSTON, April 08, 2021 (GLOBE NEWSWIRE) ION Geophysical Corporation (NYSE: IO) today announced that the Company was awarded an exclusive agreement for 3D multi-client programs offshore Kenya. The agreement includes both 3D new acquisition offshore the Lamu Basin and reimaging vintage data offshore Kenya. Offshore Kenya is an attractive area with a proven petroleum system; however, it has remained underexplored, in part due to lack of available 3D data. The final shape and size of new 3D programs will be dictated by client input and underwriting.
milindMay 3, 2021
Findings from Facts and Factors report
“Seismic Survey Market By Service (Data Acquisition, Data Processing, and Data Interpretation), By Technology (2D Imaging, 3D Imaging, and 4D Imaging), and By Application (Geological, Geophysical, Geotechnical, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026”
Global Seismic Survey market in 2019 was approximately USD 1.5 billion. The market is expected to grow at a CAGR of 4% and is anticipated to reach around USD 2 billion by 2026.
Increasing demand for oil and gas is likely to encourage the market players to explore new fields. Oil and gas explorers use seismic surveys to yield comprehensive pictures of the numerous rock categories and their position under the Earth’s surface and they use this information to determine the location and size of oil and gas