IO - ION Geophysical Will Not Take Off Until The Right Catalysts Are In Place
IO Is Still In Troubled Water
ION Geophysical (IO) provides geoscience products, services, and solutions that allow upstream energy companies to obtain earth’s subsurface images. In recent times, the company has been hit by a series of project delays and new venture program non-starts. The crude oil price volatility and policy obstacles in Mexico and Panama have kept the potential limited. Although higher offshore tendering activities in 2019 boosted investors’ expectations, it has not yet translated into any significant project activities in the near term. I do not find strong drivers than can