ION is a Delaware corporation. Our predecessor entity was incorporated in 1979.
We are a global, technology-focused company that provides geoscience products,
services and solutions to the global oil and gas industry. Our offerings are
designed to allow oil and gas exploration and production (“E&P”)
companies to obtain higher resolution images of the Earth’s subsurface
to reduce their risk in hydrocarbon exploration and development. We acquire,
process and interpret seismic data from seismic surveys on a multi-client or
proprietary basis. Seismic surveys for our multi-client data library business
are pre-funded, or underwritten, in part by our customers, and, with the exception
of our ocean bottom seismic (“OBS”), an ocean bottom data acquisition
services company, OceanGeo B.V. (“OceanGeo”), we contract with third
party seismic data acquisition companies to acquire the seismic data, all of
which is intended to minimize our risk exposure. We serve customers in most
major energy producing regions of the world from strategically located offices
in 28 cities on six continents.
Seismic imaging plays a fundamental role in hydrocarbon exploration and reservoir
development by delineating structures, rock types and fluid locations in the
subsurface. Our technologies, services and solutions are used by E&P companies
to generate high-resolution images of the Earth’s subsurface to identify
hydrocarbons and pinpoint drilling locations for wells.
We provide our services and products through three business segments –
E&P Technology & Services, E&P Operations Optimization, and Ocean
Bottom Services. Our Ocean Bottom Services segment is comprised of OceanGeo,
in which we increased our ownership to 100% in 2014. In addition, we have a
49% ownership interest in our INOVA Geophysical Equipment Limited joint venture
(“INOVA Geophysical,” or “INOVA”).
For decades we have provided innovative seismic data acquisition technology,
such as multicomponent imaging with VectorSeis® products, the ability to
record seismic data from basins below ice in the Arctic, and cableless seismic
techniques. The advanced technologies we currently offer include our Orca®
and Gator™ command and control software systems, WiBand® broadband
data processing technology, Calypso™ OBS acquisition system, Marlin™
simultaneous operations solution and other technologies, each of which is designed
to deliver improvements in image quality, productivity and/or safety. We have
approximately 500 patents and pending patent applications in various countries
around the world. Approximately 48% of our employees are involved in technical
roles and over 25% of our employees have advanced degrees.
E&P Technology & Services. Our E&P Technology & Services business
provides three distinct service activities that often work together.
Our 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.
Since 2002, our basin exploration seismic data programs have resulted in over
500,000 km of data library that covers significant portions of many of the basins
in the world, including offshore East and West Africa, South America, the Arctic,
the Gulf of Mexico and Australia.
Our Ventures group (formerly known as our GeoVentures 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. Our 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.
Our Imaging Services group (formerly known as our GX Technology (GXT) group)
offers data processing and imaging services designed to help our E&P customers
reduce exploration and production risk, evaluate and develop reservoirs, and
increase production. We maintain more than 17 petabytes of seismic data digital
information storage in 4 global data centers, including two core data centers
located in Houston and in the U.K.
Our E&P Advisors group partners with E&P operators, energy industry
regulators and capital institutions to capture and monetize E&P opportunities
worldwide. 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. Our E&P Operations Optimization business
combines our Optimization Software & Services and Devices offerings.
Our Optimization Software & 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. Our Orca software
system is installed on towed streamer vessels worldwide, and our Gator software
is used on many ocean bottom seismic surveys.
Our Marlin solution is aimed at optimizing simultaneous operations during all
phases of an offshore asset’s lifecycle, from exploration, through appraisal,
development and production.
Our Devices business is engaged in the manufacture and repairs of marine towed
streamer acquisition and positioning systems and analog geophone sensors.
Ocean Bottom Services (“OBS”). In 2014, we increased our ownership
interest in OceanGeo to 100%. Through the addition of OceanGeo, ION offers a
fully integrated OBS solution designed to maximize seismic image quality, operational
efficiency and safety. The integrated OBS solution includes expert survey design,
planning and optimization, superior data captured using multicomponent acquisition
systems available exclusively to OceanGeo; data acquisition by the experienced
team at OceanGeo; and data processing, interpretation and reservoir services,
by our Imaging Services experts. In addition, OceanGeo is engaged in the manufacture
of redeployable ocean bottom cable seismic data acquisition systems.
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