HOUSTON, Dec. 21 - GX Technology Corporation (GXT), a leading seismic imaging service provider and a subsidiary of Input/Output, Inc. (NYSE: IO), announced today the full commercial release of its Reverse Time Migration (RTM) technology. RTM, a highly compute-intensive algorithm, has been developed to improve imaging in areas where complex salt conditions have provided serious imaging challenges to the oil & gas companies. Sub-salt plays are prevalent in many exploration arenas, including the Gulf of Mexico, West Africa, and the coast of Brazil.
"At GXT, we understand the challenges faced by the E&P companies in searching for hydrocarbons in these highly complex areas and we continue to develop our portfolio of Image-Driven(TM) technologies, with RTM forming one of the cornerstones for our sub-salt and salt-flank imaging solutions," stated Mick Lambert, President of GX Technology. "We anticipate strong market demand for this imaging technology and will be expanding our clustered computing capacity to meet the demand of our clients and deliver results in time for the upcoming lease sales in the GOM."
In the last four weeks, GXT has been awarded their first commercial contracts to implement RTM, and is currently imaging the projects at the main advanced imaging center in Houston, Texas.
About GXT
GX Technology (GXT), a subsidiary of Input/Output, Inc., is a leading provider of Image-Driven(TM) seismic solutions. Oil and gas companies apply GXT's advanced imaging solutions to produce the highest fidelity land and marine subsurface images and reduce the risk and cost of finding and producing hydrocarbons. The company's solutions include start-to-finish seismic acquisition programs, time processing, pre-stack depth and time imaging, anisotropic imaging, wavelet-based AVO analysis, 4-D and multi-component services, and fracture detection and modeling. GXT also provides software and services for seismic acquisition planning, survey design and modeling. GXT is a Houston-based company that operates regional service centers in Denver, London, Calgary, Aberdeen, Caracas, and Port Harcourt. Additional information is available at http://www.i-o.com .
About I/O
I/O is a leading, technology-focused seismic solutions provider. The company provides cutting-edge seismic acquisition equipment, software, and planning and seismic processing services to the global oil and gas industry. I/O's technologies are applied in both land and marine environments, in traditional 2D and 3D surveys, and in rapidly growing areas like time-lapse (4D) reservoir monitoring and full-wave imaging. Headquartered in Houston, Texas, I/O has regional offices in Canada, Latin America, Europe, China, Russia, Africa and the Middle East. Additional information is available at http://www.i-o.com .
"Image-Driven" is a trademark of GX Technology Corporation
For More Information Contact:
Kelly Smith
I/O Corporate
+1 281 879 3593
Piers Gormly
GX Technology
+1 713 789 7250
The information included herein contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results may vary fundamentally from those described in these forward-looking statements. All forward-looking statements reflect numerous assumptions and involve a number of risks and uncertainties. These risks and uncertainties include risk factors that are disclosed by I/O from time to time in its filings with the Securities and Exchange Commission.
