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IO - ION Geophysical Finds Growth Drivers But Sits On Quicksand
Ion Geophysical Corporation
IO Looks To Cash In On New Opportunities
The crude oil price downturn triggered a significant strategic change as ION Geophysical (IO) has made a re-entry into the 3D re-imaging market. It has also been expanding the reach of its Marlin software for both E&P and other industries. The company's Marlin architecture, which allows offshore operations from remote locations, can turn out to be preferred customer choice in the post-pandemic world.
IO inked several large multi-client contracts in the past couple of quarters. Although the company's top-line and bottom-line improved in Q1, it