NEOS GeoSolutions Inc. has acquired ION Geophysical Corp.’s (NYSE: IO) Denver, Colorado, land seismic data processing operation. The addition of this business line expands NEOS’s multi-physics service lines to now include seismic data processing and imaging. The rest of ION’s data processing business, including ION’s land data processing capabilities in support of its 3D ResSCAN land programs, is unaffected by this transaction.
ION’s Denver processing group has completed nearly 400 subsurface imaging projects since 2003 for customers that include international and independent exploration and production (E&P) companies. The Denver team specializes in “hard rock” processing in structurally complex geologic environments ranging from Bolivia to the North Slope of Alaska.
With this acquisition, NEOS will now have the capability to process, integrate, and simultaneously interpret both seismic and non-seismic geo-datasets to render complete “basement-to-surface” images.
NEOS helps governments, energy ministries, and exploration teams in the natural resources industries make informed decisions about where to explore, lease, and drill. In partnership with its clients, NEOS acquires and simultaneously interprets multiple geological, seismic, non-seismic, and geochemical datasets to identify resources in the subsurface, including hydrocarbons, minerals and groundwater.
ION provides technology-driven solutions to the global oil and gas industry. ION’s offerings are designed to help companies reduce risk and optimize assets throughout the E&P life cycle.