PGSVY - ION Geophysical: Balance Sheet Concerns Are Still Prevalent
Short-Term Risk Factors Are Still Strong
ION Geophysical (IO) continues to stay under pressure due to several project delays, new venture program non-starts, and policy obstacles in Latin America. However, in recent times, a 3-D multi-client program in Mauritania and a strategic partnership with PGS for marketing a combined data library have lifted its prospect. The most significant change in the company's stance is its expansion in the 3D reimaging market. Also, the ION AnyWare technology, which allows offshore operations from remote locations, can turn out to be preferred customer choice in