ION Geophysical Corp.

ION Geophysical Corp.

ION Geophysical Corp.

Overview
Date Founded

2007

Headquarters

2105 City West Boulevard,Suite 100,Houston, TX 77042-2855

Type of Company

Public

Employees (Worldwide)

519

Industries

Computer Software
Pension Funds & Sovereign Wealth
Industrial Machinery & Manufacturing

Company Description

ION Geophysical Corp. is a technology focused company, which engages in the provision of geoscience technology, services, and solutions to the oil and gas industry. It operates through the following segments: E&P Technology and Services and E&P Operations Optimization. The E&P Technology and Services segment creates digital data assets and delivers services that improve decision-making, mitigate risk, and maximize portfolio value for E&P companies. The Operations Optimization segment develops mission-critical subscription offerings and engineering services that enable operational control and optimization offshore. The company was founded in 1968 and is headquartered in Houston, TX.

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Executives & Employees

Director, President & Chief Executive Officer

Executive Vice President & Interim Chief Financial Officer

Executive Vice President, General Counsel & Corporate Secretary

Executive Vice President-Global Human Resources

Executive Vice President & Chief Operating Officer, E&P Technology & Services

Executive Vice President, Technology

Controller

Order Fulfillment Coordinator

Director

Board of Directors

President & Chief Executive Officer at Laitram LLC

Former Vice President & Chief Financial Officer at Cal Dive International, Inc.

Former President & Chief Executive Officer at Enerplus Corp.

Chairman & Chief Executive Officer at Sherwood Energy LLC

Director, President & Chief Executive Officer at ION Geophysical Corp.

Founder at Endeavour International Corp.

Controller at Next Wave Energy Partners LP

Director at ION Geophysical Corp.

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ION Geophysical Corp.
Owners & Shareholders
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Footprints Asset Management & Research (FAMR) focuses on discovering absolute value investment opportunities. They look for opportunities that minimize price risk and that have the potential to create wealth over the long term. FAMR identifies companies that are out of favor, distressed or unpopular under current market conditions and are selling at or near their book value. They then determine if the company is being unfairly valued, which would provide a buying opportunity at a reduced price.To determine if a company is undervalued, FAMR considers a company's absolute value from a multitude of variables, including management's competency and experience, earnings potential, free cash flow, current debt, replacement cost and sector fundamentals. After assessing a company's absolute value, the firm then determines if enough disparity exists between their assessed absolute value and the current market price. This gap represents their margin of safety. FAMR's investment decisions are based on the margin of safety.

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Empery Asset Management manages an event-driven, special situations fund that invests in small- to mid-sized growth companies. They make direct investments in US publicly-traded companies without respect to industry, although some of the companies are based in China.

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Empery Asset Management manages an event-driven, special situations fund that invests in small- to mid-sized growth companies. They make direct investments in US publicly-traded companies without respect to industry, although some of the companies are based in China.

Recent Transactions
Details Hidden

ION Geophysical Corp. issued USD Common Stock and Warrants

Details Hidden

Equinix, Inc. purchases Io Uk Ltd. /Operating Business Slough from ION Geophysical Corp.

Details Hidden

ION Geophysical Corp. purchases Global Dynamics, Inc. (Canada)

Transaction Advisors
Accountant

Advised onION Geophysical Corp. purchases Digicourse, Inc. from Laitram LLC

Accountant

Advised onION Geophysical Corp. purchases GX Technology Corp.

Investment Advisor

Advised onION Geophysical Corp. purchases ARAM Systems Ltd.

Associate

Advised onION Geophysical Corp. issued USD Common Stock and Warrants

Investment Advisor

Advised onION Geophysical Corp. purchases ARAM Systems Ltd.

Legal Advisor

Advised onION Geophysical Corp. purchases ARAM Systems Ltd.

Advisors & Consultants
Legal Advisor

Partner at Bennett Jones LLP

Advisor

General Counsel & Corporate Secretary at Covetrus, Inc.

Advisor

Former Executive Vice President & Chief Financial Officer at ION Geophysical Corp.

Clients

MIND Technology, Inc. engages in the provision of equipment to the geophysical, oceanographic, hydrographic and defence industries. It operates through the following segments: Marine Technology products and Equipment Leasing. The Marine Technology products segment is comprised of the design, manufacture, and sale of specialized marine seismic equipment, side scan sonar, water-side security systems, and the equipment sales activities of its Australian subsidiary, Seismic Asia Pacific Pty Ltd. The Equipment Leasing segment offers leasing of seismic equipment to companies in the oil and gas industry. The company was founded on January 29, 1987 and is headquartered in Woodlands, TX.

China National Petroleum Corp. engages in the production and supply of oil and gas products. Its businesses include petroleum exploration and production, natural gas and pipelines, refining and marketing, oilfield services, engineering construction, petroleum equipment manufacturing and new energy development, as well as capital management, finance, and insurance services. The company was founded on February 9, 1990 and is headquartered in Beijing, China.

Arabian Geophysical & Surveying Co. provides geophysical data acquisition, processing, and reservoir analysis services. It offers land data acquisition, marine seismic acquisition, non-seismic geophysical surveys, data analysis and imaging services, and equipment rentals and sales. The company was founded in 1966 and is headquartered in Al Khobar, Saudi Arabia.

Key Stats and Financials As of 2019
Market Capitalization
$34M
Total Enterprise Value
$255M
Earnings Per Share
$-3.41
Enterprise Value EBITDAOperating
7.67x
Total Equity
$-34.6M
Total Debt
$163M
Debt TEV
0.64x
TEVNet Income
-5.29x
Enterprise Value / Sales
1.46x
EBITDAMargin
15.92%
EBITDA
$27.8M
Net Profit
$-48.2M
Revenue
$175M
Three Year Compounded Annual Growth Rate Of Revenue
0.36%
Non-Profit Donations & Grants
Investments
Details Hidden

Octio AS provides equipment and services for monitoring of subsea oilfields. It provides survey and installation planning, equipment installation, data recording and system operation, and seismic source operation and seismic processing services. The company was founded by Magne Oldervoll and Leon Løvheim in 2006 and is headquartered in Bergen, Norway.

Suppliers
Parkway, Inc. Pension Funds & Sovereign Wealth | Houston, TX

Parkway, Inc. operates as a real estate investment trust company. It engages in the ownership, acquisition, development, and leasing of class A office properties in Houston, Texas. The company was founded on June 3, 2016 and is headquartered in Houston, TX.

Competitors
Schlumberger Ltd. Oil & Gas - Houston, TX

Corporate profile: Schlumberger Knowledge, technical innovation and teamwork are at the center of who we are. For more than 80 years, we have focused on leveraging these assets to deliver solutions that improve customer performance. Today, our real-time technology services and solutions enable customers to translate acquired data into useful information, then transform this information into knowledge for improved decision making-anytime, anywhere. Harnessing information technology in this way offers enormous opportunities to enhance efficiency and productivity. This is a quantum leap from providing traditional 'just-in-case' information to delivering 'just-in-time' knowledge that meets the changing needs of our customers

TGS-NOPEC Geophysical Co. ASA Other Business & Consulting Services - Asker, Nor

TGS-NOPEC Geophysical Co. ASA engages in the provision of geoscientific data products and services to oil and gas exploration companies. It operates through the following geographical segments: North & South America (NSA), Europe and Russia (EUR), Africal, Middle-East and Asia or Pacific (AMEAP), and Other or Corporate Costs. The NSA segment includes onshore seismic projects in North America. The Other or Corporate Costs segment offers Geological Products & Services (GPS) Well Logs, GPS Interpretations, Global Services, Imaging, Data and Analytics, G&A and Corporate. The company was founded in 1981 and is headquartered in Asker, Norway.

CGG Oil & Gas - Paris, France

CGG is an integrated geosciences company, which provides geological geophysical and reservoir capabilities to its broad base of customers primarily from the global oil and gas industry. It manufactures geophysical equipment, as a provider of marine, land and airborne data acquisition services. The company operates its business through the following segments: Contractual Data Acquisition, Geology, Geophysics & Reservoir and Non-Operated Resources. The Contractual Data Acquisition segment comprises of Marine: offshore seismic data acquisition and Land and Multi-Physics and other seismic data acquisition. The Geology, Geophysics & Reservoir segment comprises the Multi-Client Business Line and the Subsurface Imaging and Reservoir business line. The Non-Operated Resources segment comprises the costs of the non-operated marine resources as well as all of the costs of its Transformation Plan .CGG was founded by Conrad Schlumberger on July 23, 1931 and is headquartered in Paris, France.

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