ION Geophysical Corp Share Price (NYSE: IO)

Founded in 1968, Ion Geophysical Corp mainly caters to the oil and gas industry by providing equipment for the acquisition, software, seismic processing services, and seismic data libraries. Ion Geophysical Corp has its headquarters in Texas, United States, and was incorporated as a highly specialised seismic source synchronisation equipment provider. The technologies and services of the company are used for generating high-resolution images of the subsurface during exploration, exploitation, and production operations by E&P operators and seismic acquisition contractors. The company has around 500 employees serving in different locations globally. Ion Geophysical Corp generated annual revenue of $123 million in the financial year 2020. Chris Usher serves as the CEO for Ion Geophysical Corp, along with other board members. ION offers marine image systems for both the towed streamer and ocean-bottom seismic markets. It includes both streamer and seabed acquisition systems, positioning and streamer control systems, and source & source control systems. One of the largest seismic data libraries in the industry is owned by ION’s GeoVentures business unit. These are custom-designed BasinSPANS that are basin-wide and ultra-deep data libraries for providing a holistic understanding of hydrocarbon migration paths in petroleum systems that include source rock deposition, reservoir trapping mechanisms, and sediment fairways. In 1991, ION started to be publicly traded on NASDAQ and in November 1994 into the New York Stock Exchange as ‘IO’ into the Russell 2000 component. Currently ION Geophysical Corp has a market cap of $0.01 Billion. It has a P.E ratio of -0.25. The shares of ION Geophysical Corp are trading at $0.35. .