ION Geophysical (IO) awarded first proprietary commercial deployment of Gemini for Super Major

ION Geophysical Corporation (NYSE: IO) today announced the first proprietary commercial deployment of the Company’s Gemini™ extended frequency source technology for a Super Major. Following the technology’s commercialization in September, energy companies have specified Gemini in a number of proprietary tenders, the first of which is expected to begin in January. Gemini uniquely supports the industry’s shift to increasingly novel acquisition methodologies for enhanced subsurface imaging and decision-making across the E&P life cycle.

Since its development, the technology has demonstrated broader functionality and appeal, expanding its market applicability. For example, in this long offset 3D towed streamer survey, Gemini’s broad source spectrum will improve subsurface characterization of a moderately complex geologic area with greater operational efficiency and considerably less environmental impact. The innovative source significantly extends low frequencies, while limiting higher frequencies to a more ecologically friendly range.

“This award demonstrates the value of our innovative Gemini technology to help energy companies optimize exploration and development decisions for the most promising prospects in their portfolios,” said Ken Williamson, Executive Vice President and Chief Operating Officer of ION’s E&P Technology and Services group. “The sector is rapidly adopting creative acquisition techniques to enhance image quality in both towed streamer and seabed surveys. Gemini is proving to be an integral enabling technology that efficiently supports substantially improved data quality and lower environmental impact desired by the industry. This project also expands the geographies in which permits have been issued, further validating the technology’s environmental credentials and ease of permitting. In order to meet market demand, we are rapidly expanding our capacity and seeking regulatory approval in additional jurisdictions.”

To learn more, visit iongeo.com/Gemini.

You May Also Be Interested In

• Spotify (SPOT) jumps 10% as Q1 revenue, gross margins beat Street's estimates
• Hibbett (HIBB) soars 18% on deal to sell to JD Sports for $1.08 billion
• TransUnion (TRU) Provides Update on Operations Reorganization