Last $2.83 USD
Change Today +0.03 / 1.07%
Volume 541.8K
IO On Other Exchanges
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As of 8:04 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

2105 Citywest Boulevard

Suite 400

Houston, TX 77042

United States

Phone: 281-933-3339

Fax: 281-879-3626

ION Geophysical Corporation provides geophysical technology, services and solutions to the oil and gas industry. The company’s offerings are designed to allow oil and gas exploration and production (E&P) companies to obtain higher resolution images of the earth’s subsurface during exploration, exploitation and production operations to reduce the risk in exploration and reservoir development, and to enable seismic contractors to acquire geophysical data safely and efficiently. The company acquires and processes seismic data from seismic surveys in regional data programs, which then become part of its seismic data library. The seismic surveys for its data library business are pre-funded, or underwritten, in part by its customers, and, with the exception of its new seabed acquisition joint venture, OceanGeo B.V. (OceanGeo), the company contracts with third party seismic data acquisition companies to shoot and acquire the seismic data, all of which is intended to minimize its risk exposure in offshore and onshore operations around the world. The company serves customers in all major energy producing regions of the world from strategically located offices in 21 cities on 6 continents. Segments The company provides its services and products through three business segments - Solutions, Systems and Software. In addition, the company has a 49% ownership interest in its INOVA Geophysical Equipment Limited joint venture (INOVA Geophysical or INOVA) and an ownership interest in its OceanGeo joint venture, which the company increased from 30% to 70% in January 2014. The advanced technologies the company offers include Orca, its WiBand data processing technology, Calypso, Narwhal and INOVA Geophysical’s cableless Hawk land system and new G3icabled system, and other technologies, each of which is designed to deliver improvements in both image quality and productivity. The company has approximately 550 patents and pending patent applications in various countries worldwide. Services and Products Solutions segment The Solutions segment includes the following: GeoVentures — The company’s GeoVentures group provides complete seismic data services, from survey planning and design through data acquisition to final subsurface imaging and reservoir characterization. The company works backwards through the seismic workflow, with the final image in mind, to select the optimal survey design, acquisition technology, and processing techniques. The company offers its services to customers on both a proprietary and multi-client (non-exclusive) basis. In both cases, the customers generally pre-fund a majority of the data acquisition costs. For proprietary services, the customer also pays for the imaging and processing, but has exclusive ownership of the data after it has been processed. The majority of the data licensed by GeoVentures consists of ultra-deep 2-D seismic data that E&P companies use to evaluate petroleum systems at the basin level, including insights into the character of source rocks and sediments, migration pathways, and reservoir trapping mechanisms. In many cases, the company extends beyond seismic data to include magnetic, gravity, well log, and electromagnetic information, to provide a more comprehensive picture of the subsurface. Known as ‘BasinSPAN’ programs, these geophysical surveys cover most major offshore basins worldwide and we’re continuing to build on them. In addition to its 2-D multi-client programs, the company acquired its first 3-D marine proprietary program and signed a strategic agreement with Polarcus Limited, a marine geophysical company, to jointly plan and executes 3-D marine multi-client surveys worldwide. For land applications, the company also develops 3-D onshore reservoir imaging and characterization programs to provide E&P companies with the ability to understand unconventional reservoirs to maximize production. Known as ‘ResSCAN’ programs, these 3-D multicomponent seismic data programs are designed, acquired and depth-imaged using advanced geophysical technology and proprietary processing techniques, resulting in high-definition images of the subsurface. In 2013, the com

 

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IO

Industry Average

Valuation IO Industry Range
Price/Earnings 6.4x
Price/Sales 0.8x
Price/Book 1.5x
Price/Cash Flow 6.4x
TEV/Sales 0.2x
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