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Press release from PR Newswire

ION Introduces Narwhal for Ice Management in Seismic and Drilling Operations

Monday, September 23, 2013

ION Introduces Narwhal for Ice Management in Seismic and Drilling Operations

08:30 EDT Monday, September 23, 2013

HOUSTON, Sept. 23, 2013 /PRNewswire/ -- ION Geophysical Corporation (NYSE: IO) today announced the launch of NarwhalTM, the first fully integrated ice management system designed to reduce risk and improve efficiency in seismic data acquisition and drilling operations in or near ice, such as in the Arctic. 

The Arctic contains an estimated 25% of the world's undiscovered hydrocarbon resources, but harsh, icy conditions pose hazards to seismic contractors and E&P operators.  The Narwhal system enables operators to gather, monitor, and analyze data from various sources, including satellite imagery, ice charts, radar, manual observations, wind, and ocean currents, to forecast weather and predict ice movements in these harsh environments.  With the ability to track, forecast, and monitor potential ice threats, operators can make informed, proactive decisions to ensure the safety of people, assets, and the environment, while minimizing operational downtime.

Des Flynn, Vice President of ION's Concept Systems group, responsible for the development of Narwhal, added, "One of the unique aspects of Narwhal is the way it manages 'trafficability' -- the ability to use all of the ice information to define go/no-go areas, plan routes, optimize  vessel operations, and identify escape routes ? in multi-vessel and platform operations.  The system's unique enterprise capability allows multiple vessels, platforms, and onshore operations to share and visualize all available information in a common operational picture, thereby improving efficiencies and providing the entire operation with greater situational awareness."

Joe Gagliardi, Vice President, Marine, for ION's GeoVentures group and leader of ION's Arctic initiatives, added, "ION's mission is to develop and deliver geophysical technologies that enable E&P companies to locate and produce hydrocarbons safely and efficiently, in the most challenging environments.  We have been pushing operational boundaries in the Arctic since acquiring our first regional seismic survey there in 2006.  With 15 projects and eight seasons of Arctic data acquisition under our belts, yielding approximately 65,000 km of data, including over 30,000 acquired under the ice, we understand the unique operational challenges posed by Arctic ice.  Narwhal is an exciting new addition to our comprehensive, integrated Arctic toolkit."

Built on a robust and proven industry leading software platform, Narwhal is currently in commercial use in the Canadian Northwest Passage and offshore Baffin Island.

For more information, go to iongeo.com/Narwhal.

About ION

ION Geophysical Corporation is a leading provider of geophysical technology, services, and solutions for the global oil & gas industry. ION's offerings are designed to allow E&P companies to obtain higher resolution images of the subsurface to reduce the risk of exploration and reservoir development, and to enable seismic contractors to acquire geophysical data safely and efficiently. Additional information about ION is available at www.iongeo.com.

ContactsION (Investor relations)Senior Vice President and Chief Financial OfficerGreg Heinlein, +1 281.781.1046

ION (Media relations)Vice President - Corporate Marketing & CommunicationsKaren Abercrombie, +1 713.366.7281karen.abercrombie@iongeo.com

The information included herein contains 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. Actual results may vary fundamentally 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 risk factors that are disclosed by ION from time to time in its filings with the Securities and Exchange Commission.

 

SOURCE ION Geophysical Corporation

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