The search for oil and gas will also continue unabated, which is good news and good business for ION Geophysical, an energy services company that maps out deposits of the resources for exploration companies. CAPS member viking122 says ION Geophysical's new joint venture is worth looking into, while mypieceofpie says the company is a step ahead of its competition.
As the limited natural resource of oil becomes harder to pull, locating substantial reserves is most important. Ion Geophysical is on the leading edge of this technology. They have recently expanded their business and have exposure to the Asian market. While reading the most recent conference call, I like some of [management's] decisions concerning debt repayment and R & D.
The deal gives the company a big influx of cash that slashes its debt load and improves its maneuverability, while also providing a worldwide platform for providing seismic data on land-based petroleum prospects.