ION Geophysical Corporation (NYSE: IO) today announced a new 2D multi-client reimaging program off the Pacific coast of Central America.
The Maya Reprocessing program covers unexplored open acreage that has not had E&P activity in 40 years. Previous exploration wells along the margin suggest the presence of an active petroleum system in the Pacific forearc basins. E&P companies can use these data to evaluate the prospective areas identified from the reimaged data. The program covers ~9,000 km of data that extend from the Tehuantepec Basin of Southern Mexico to the Sandino Basin of Western Nicaragua and creates a calibrated data set. The program is expected to be completed before the end of the year.
“We have repeatedly proven the value we can deliver by seamlessly integrating and reimaging existing data sets,” said Joe Gagliardi, Senior Vice President of ION’s E&P Business Development. “This approach provides a cost-effective way for our clients to evaluate prospectivity of new areas. A broad range of E&P companies are looking to add new low cost reserves to their portfolios and are interested in exploring some new frontiers.”
Source: Company Press Release