ION Geo: nearly quadruples 2D multi-client data offshore Argentina
ION Geophysical Corporation (NYSE: IO) today announced it is offering a 2D multi-client data package offshore Argentina in advance of the 2018 license round. ION has delivered a regional framework consisting of approximately 30,000 km of data over the Austral and Malvinas basins’ relatively under-explored petroleum region. For almost 10 years, ION’s 11,500 km of ArgentineSPAN was the only dataset available in the Argentine offshore. The knowledge gained from working these data enabled us to confidently incorporate and interpret the 30,000 km of vintage data into our extensive regional understanding offshore Argentina. ION secured the seismic data and well reports with exclusive licensing rights.
ION will provide a full interpretation report detailing the exploration history, the geologic framework and an inventory of potential leads to jumpstart exploration efforts there in advance of the anticipated license round in 2018. The complete seismic database is available now and the full interpretation report will be completed in December 2017.
Joe Gagliardi, SVP of ION’s Ventures group, said, “ION continues to be a leader in frontier exploration and fit-for-purpose solutions. Acquiring access to this unique dataset has provided the opportunity for ION to get information into the hands of our clients at an early stage, which can be used for both acreage evaluation and assessment if other data is necessary for operators to build and execute a rapid evaluation strategy for the region in advance of the license round.”