ION Geophysical Corporation

ION Geophysical Corporation

IO

IOION Geophysical Corporation US flag

New York Stock Exchange

0.35

USD

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ION Geophysical Corporation

IO

(New York Stock Exchange)

Recent

price

0.35

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ratio

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div

yld

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ROIC.AI

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Business: ION Geophysical Corporation ION Geophysical Corporation (NYSE:IO), founded in 1968 and headquartered in Houston, Texas, provides advanced geophysical technology, services, and solutions to the global oil and gas industry, including offshore energy, ports, and defense sectors; core offerings encompass seismic data acquisition equipment and software such as marine imaging systems for towed streamer and ocean-bottom node markets, including positioning and streamer control systems, source control systems, and seabed acquisition systems; seismic data processing services through proprietary algorithms for depth migration, reverse time migration, full-wave imaging, and reservoir characterization; extensive multi-client seismic data libraries like BasinSPAN programs covering major basins in the Gulf of Mexico, West Africa, Latin America, and other regions; geophones and sensors via its Sensor group; command and control software including Orca for streamer navigation, Gator for ocean-bottom node navigation, Mesa for seismic crew optimization, and Marlin for simultaneous marine operations; with operations spanning the United States, Canada, Latin America, Europe, Africa, Russia, China, Middle East, and Central Asia, serving exploration and production companies, national oil firms, independents, and seismic contractors. In recent major developments, ION filed for Chapter 11 bankruptcy in spring 2022 amid financial pressures from low energy prices and cautious client spending, completing reorganization and exiting bankruptcy by September 2022; sold its multi-client data library, processing business, intellectual property, and Gemini Extended Frequency Source assets to TGS in August 2022 as part of the process; divested its software business—including Orca, Gator, Mesa, and Marlin—to Sercel's Sensing & Monitoring division in September 2022; formed INOVA Geophysical Equipment Limited joint venture with BGP (China National Petroleum subsidiary) in 2010 for land seismic systems, sources, and sensors like FireFly cableless systems and VectorSeis digital sensors, retaining its Sensor geophone operations; and ceased primary operations post-asset sales while its bankruptcy case closed via final decree on October 17, 2024.

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