ION Geophysical Corporation provides data-driven decision-making to offshore energy, and ports, and defense industries worldwide. The company operates through two segments, E&P Technology & Services and Operations Optimization. The E&P Technology & Services segment creates digital data assets and delivers services to help E&P companies improve decision-making and reduce risk. This segment includes two synergistic groups, imaging and reservoir services, and ventures. The company's Imaging and Reservoir Services group provides data processing, imaging, and reservoir services that improve image quality and subsurface insights, helping E&P companies reduce exploration and production risk, evaluate and develop reservoirs, and increase production. Its Imaging and Reservoir Services group develops and applies proprietary processing algorithms through its imaging engine to data owned or licensed by its customers to translate raw data into subsurface images. The Operations Optimization segment develops mission-critical subscription offerings and provides engineering services that enable operational control and optimization offshore. This segment includes the company's Optimization Software & Services and Devices offerings. The company's Optimization Software & Services group provides survey design, command, and control software systems and related services for marine towed streamer and seabed operations. Its Devices offerings group develops intelligent equipment controlled by its software to optimize operations. The company sells its services and products through a direct sales force consisting of employees and international third-party sales representatives. ION Geophysical Corporation was formerly known as Input/Output, Inc. and changed its name to ION Geophysical Corporation in 2007. The company was founded in 1968 and is headquartered in Houston, Texas.
IPO Year:
Exchange: NYSE
Website: iongeo.com
HOUSTON, May 23, 2022 (GLOBE NEWSWIRE) -- ION Geophysical Corporation (NYSE:IO) announced today that it has been awarded a contract for its Gemini Enhanced Frequency Source technology to be utilized in a proprietary, Wide Azimuth 3D acquisition in the Mediterranean Sea. The Wide Azimuth 3D acquisition will deploy Gemini 8,000 cubic inch sources in dual source configurations on both the primary and secondary streamer vessels over approximately 60 days. "We are delighted by the news that Gemini has been selected by a supermajor for their latest acquisition project," said Ken Williamson, EVP Innovation and Strategic Marketing. "Deploying Gemini as a replacement for conventional source techno
HOUSTON, May 18, 2022 (GLOBE NEWSWIRE) -- ION Geophysical Corporation (NYSE:IO) announced today that is has received a notice from the New York Stock Exchange ("NYSE", the "Exchange") that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of ION Geophysical Corporation (the "Company") — ticker symbol IO — from the Exchange. NYSE Regulation reached its decision to delist the common stock pursuant to Listed Company Manual Section 802.01B, because the Company had fallen below the NYSE's continued listing standard requiring listed companies to maintain a minimum average global market capitalization over a consecutive 30 trading day period of at leas
HOUSTON, May 03, 2022 (GLOBE NEWSWIRE) -- ION Geophysical Corporation (NYSE:IO) announced today that it has completed reprocessing of the prestack time and depth imaging of over 62,000 km of legacy data acquired from the National Hydrocarbon Agency of Colombia (ANH) for its Colombia Caribe 2D reprocessing program. This multi-client reprocessing provides consistent parameterization of 18 surveys with vintages ranging from 1982 through 2014. In combination with PanamaSPAN and AntillesSPAN, the program provides basin-wide coverage of the Caribbean. "We recognized the value of reprocessing vintage seismic data as not only a proven means for operators to revisit and de-risk frontier basins suc
HOUSTON, April 22, 2022 (GLOBE NEWSWIRE) -- ION Geophysical Corporation (NYSE:IO) today announced that on April 18, 2022 it received a letter from the New York Stock Exchange (the "NYSE") notifying the Company that it is not in compliance with the NYSE's continued listing standards given the Company failed to timely file its Form 10-K for the year ended December 31, 2021. The filing delinquency is due to the Company's filing for voluntary Chapter 11 relief on April 12, 2022. The NYSE will monitor the status of the Company's late filing and related public disclosures for up to a six-month period from its due date. If the Company fails to file its delayed filing and any subsequent delayed
HOUSTON, April 20, 2022 (GLOBE NEWSWIRE) -- ION Geophysical Corporation (NYSE:IO) announced today that it has been awarded a five-year contract by Brunei Shell Petroleum Co. (BSP), a joint venture between the Government of Brunei and Shell, for a digital solution to manage Marine Logistics. The solution will be delivered utilizing the MarlinTM software suite and will include vessel monitoring, berth management, and visual reporting tools for material supply workflows. The solution will digitize a number of manual processes and will also interface with existing tools, enhancing BSP's ability to make informed decisions whilst managing its fleet of more than 70 vessels servicing over 200 offs
HOUSTON, April 12, 2022 (GLOBE NEWSWIRE) -- ION Geophysical Corporation (NYSE:IO) and certain affiliates ("ION" or the "Company") today announced that, after evaluating a variety of strategic alternatives, it has filed for voluntary Chapter 11 relief in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division (the "Bankruptcy Court") as it explores a value-maximizing transaction that will strengthen the Company's balance sheet and position ION for sustained future success. In connection with the Chapter 11 filing, ION entered into a Restructuring Support Agreement (the "RSA") with the lenders under its Credit Agreement and holders of approximately 80% of its 2025 Note
HOUSTON, April 11, 2022 (GLOBE NEWSWIRE) -- ION Geophysical Corporation (NYSE:IO) announced today that the lenders under its Credit Agreement have agreed to extend the current forbearance through April 12, 2022. ION also announced that holders of more than 79% of its 2025 Notes agreed to continue their forbearance through April 12, 2022. ION remains in continuing discussions with its lenders and the holders of its 2025 Notes and other indebtedness regarding various strategic alternatives to strengthen its financial position and maximize stakeholder value. These strategic alternatives include, among others, a sale or business combination transaction or sales of assets, any of which may be
HOUSTON, April 05, 2022 (GLOBE NEWSWIRE) -- ION Geophysical Corporation (NYSE:IO) announced today that it has entered into a Second Amendment to the Second Forbearance extension with the lenders under its Seventh Amendment to the Credit Agreement dated March 8, 2022, pursuant to which the lenders have agreed to extend the current forbearance through April 10, 2022. ION also announced that it had entered into Amendment No. 3 to the Forbearance Agreement with holders of more than 79% of its 2025 Notes to continue their forbearance through April 10, 2022. The forbearances are subject to the terms and conditions of the relevant agreements, which are described in more detail in our current repo
HOUSTON, March 09, 2022 (GLOBE NEWSWIRE) -- ION Geophysical Corporation (NYSE:IO) announced today that PNC Bank, National Association ("PNC"), has sold and assigned its commitment and outstanding loans under ION's Revolving Credit and Security Agreement dated August 22, 2014 (as amended, the "Credit Agreement") to certain holders of ION's 2025 Notes (the "purchasing lenders"). In addition, ION entered into a First Amendment to the Second Forbearance and Seventh Amendment to the Credit Agreement with the purchasing lenders pursuant to which, among other things, the purchasing lenders have agreed to extend the current forbearance through April 4, 2022. ION also announced that it had entered
HOUSTON, Feb. 15, 2022 (GLOBE NEWSWIRE) -- ION Geophysical Corporation (NYSE:IO) announced today that it has entered into a Second Forbearance and Sixth Amendment extension with PNC Bank, National Association ("PNC"), under its Revolving Credit and Security Agreement dated August 22, 2014 (as amended, the "Credit Agreement"), pursuant to which PNC has agreed to waive, through and including March 8, 2022, a cross default that would have occurred under the Credit Agreement by virtue of ION's missing and still not having paid, the interest payment on the 2025 Notes that was due on December 15, 2021. In addition, ION also announced that it had entered into Amendment No. 1 to the Forbearance Ag
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HOUSTON, May 18, 2022 (GLOBE NEWSWIRE) -- ION Geophysical Corporation (NYSE:IO) announced today that is has received a notice from the New York Stock Exchange ("NYSE", the "Exchange") that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of ION Geophysical Corporation (the "Company") — ticker symbol IO — from the Exchange. NYSE Regulation reached its decision to delist the common stock pursuant to Listed Company Manual Section 802.01B, because the Company had fallen below the NYSE's continued listing standard requiring listed companies to maintain a minimum average global market capitalization over a consecutive 30 trading day period of at leas
HOUSTON, Nov. 01, 2021 (GLOBE NEWSWIRE) -- ION Geophysical Corporation (NYSE:IO) today announced that it will release its third quarter 2021 financial results on Wednesday, November 3, 2021 after the market closes. In conjunction with the release, ION has scheduled a conference call, which will be broadcast live over the Internet, on Thursday, November 4, 2021 at 10:00 a.m. Eastern Time (9:00 a.m. Central Time). What:ION Third Quarter 2021 Earnings Conference CallWhen:Thursday, November 4, 2021 - 10:00 a.m. Eastern TimeHow:Live via phone - By dialing (833) 362-0195 and asking for the ION call a few minutes prior to the start time.Live over the Internet - by logging on to the webcast at the
HOUSTON, Aug. 09, 2021 (GLOBE NEWSWIRE) -- ION Geophysical Corporation (NYSE:IO) today announced that it will release its second quarter 2021 financial results on Wednesday, August 11, 2021 after the market closes. In conjunction with the release, ION has scheduled a conference call, which will be broadcast live over the Internet, on Thursday, August 12, 2021 at 10:00 a.m. Eastern Time (9:00 a.m. Central Time). What: ION Second Quarter 2021 Earnings Conference CallWhen: Thursday, August 12, 2021 - 10:00 a.m. Eastern TimeHow: Live via phone - By dialing (833) 362-0195 and asking for the ION call a few minutes prior to the start time.Live over the Internet - by logging on to the webcast at
Alliance Global Partners initiated coverage of ION Geophysical with a rating of Buy and set a new price target of $4.20
HC Wainwright & Co. reiterated coverage of ION Geophysical with a rating of Buy and set a new price target of $10.00 from $4.00 previously
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Alliance Global Partners analyst Jeffrey Campbell downgrades ION Geophysical (NYSE:IO) from Buy to Sell.