HOUSTON, May 3, 2016 /PRNewswire/ -- ION Geophysical Corporation (NYSE: IO) today announced that its Ocean Bottom Seismic (OBS) company, OceanGeo, is mobilizing its vessels and crew to conduct an OBS survey offshore Nigeria. A letter of commitment for the project has been issued by an International Oil Company, and ION expects the contract to be finalized within the next few weeks.
ION President and Chief Executive Officer Brian Hanson commented, "We are pleased to be putting our OBS crew back to work. We will immediately begin mobilizing to the project site, expect to begin acquiring data in late June or early July, and to complete full demobilization by late in the third quarter. Our technology is well suited for additional opportunities in Nigeria and West Africa, and we continue to pursue active tenders and leads for projects in the area. We remain optimistic about our ability to keep the crew deployed upon completion of this project."
For more information about ION's Ocean Bottom Services, visit www.iongeo.com/OBS.
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