Tuesday 22 May 2018

ION Geophysical Corporation announced a new 2D multi-client program offshore Grand Banks in Newfoundland, Canada. In the first phase of GrandSPAN, ION will acquire approximately 10,000 km of data with an expectation to sanction a second phase of approximately 5,000 km of data further south in 2019. The industry-supported program is designed to investigate the architecture, evaluate the petroleum potential of proven basins and understand the geologic differences between producing and non-producing areas. GrandSPAN will integrate with two other ION BasinSPAN programs in the area, providing a contiguous regional seismic data set in excess of 20,000 km offshore northeast Canada. ION expects acquisition to begin this summer with initial deliverables available in Q3 2018.