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SOURCE ION Geophysical Corporation
Narwhal for Ice Management Recognized by Panel of E&P Industry Experts
HOUSTON, Feb. 6, 2014 /PRNewswire/ -- ION Geophysical Corporation (NYSE:IO) today announced that its new NarwhalTM for Ice Management software received a Spotlight on Arctic Technology award, to be presented at the Arctic Technology Conference in Houston on Monday, February 10.
The Arctic Technology Conference (ATC) shines the spotlight on the latest innovations in the Arctic E&P industry with its annual event. A panel of qualified E&P professionals reviewed entries and selected recipients based on five criteria: New, Innovative, Proven, Broad Interest and Significant Impact. Developed by ION's Concept Systems group, Narwhal was one of three award winners.
Narwhal is 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. Utilized either for planning future operations or during current operations, Narwhal enables operators to gather, monitor, and analyze data from various sources, including satellite imagery, ice charts, radar, manual observations, wind, and ocean currents. In addition, it provides the ability to forecast and predict ice movements in these harsh environments using proprietary modeling algorithms. 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, commented, "We are honored that Narwhal has been recognized as an innovative, proven Arctic technology by the ATC panel. There were many technologies nominated for this award, and it's a testament to the vision and technical prowess of the Narwhal team within ION that we have received this award amongst many deserving peer companies.
"Since acquiring our first seismic survey in the Arctic in 2006, ION has developed innovative technologies and solutions to help E&P companies eliminate barriers to successful exploration and production in the Arctic, one of the world's most challenging environments. Narwhal is the newest addition to our Arctic toolkit."
Built on a robust and proven industry leading software platform, Narwhal was commercially utilized last season in the Canadian Northwest Passage and offshore Baffin Island.
ION (Investor relations)
Senior Vice President and Chief Financial Officer
Greg Heinlein, +1 281.552.3011
ION (Media relations)
Vice President - Corporate Marketing
Karen Abercrombie, +1 713.366.7281
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.
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