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Johnson Rice Energy Confernce – Ion Geophysical Corp

Ion Geophysical Corp · Oct 7, 2009 · 49 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 1
    Positioning For Growth While Weathering The Storm Johnson Rice Energy Conference New Orleans October 7th, 2009 Bob Peebler Chief Executive Officer
  2. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 2
    Forward-looking Statement Todays presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements as to expectations,…
  3. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 3
    An Overview of ION Business: Advanced geophysical hardware, software, imaging services, and data libraries across the seismic workflow Mission: To solve the most challenging geophysical imaging problems with highly productive…
  4. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 4
    ION Served Market Approximately 3.8 Billion 2008 Land Systems Marine Systems ION Competition Data Processing 2D Regional Multi-client Programs 0 500 1000 1500 Marine systems does not include permanent OBC [4]
  5. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 5
    Revenues and Business Mix 5 Since the Inception of Our New Strategy in 2003 Consolidated Revenues Mix of Business by Segment ( Millions) (Percentage of 2008 Revenues) 900 100% = 680 million 800 03-08 CAGR = 35% 700 600 259M…
  6. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 6
    Business Increasingly International Location of Discoveries 100 MMBOE 2001 2001 2005 2005Discoveries Discoveries 100 249 mmboe 250 499 mmboe 500 999 mmboe 1000 UP mm boe Source: CERA. [6]
  7. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 7
    2009 Plan Assumptions and Short Term Strategy Assumptions Oil prices in the 40-60/ bbl range during 2009-Expect Rebound in the 60- 80/bbl range in 2010. Underlying fundamentals have not changed, i.e. long term supply problem.…
  8. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 8
    Industry Faces Significant Future Demand Challenges Worldwide Decline Rate 6.8% [8]
  9. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 9
    Our Long Term Strategy Solving the most complex reservoir imaging problems A leader in geophysical imaging technology and services that aims at solving the toughest problems. Balanced portfolio from early adopter technology for…
  10. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 10
    Diversified Technology Portfolio with Products in Various Stages of the Product Lifecycle A Portfolio Approach ARAM products complem ent our 2008 Land product portfolio 2004 Vibrators with robust Syste m Four margin products…
  11. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 11
    Marine Imaging Systems Segment Towed Streamer Marine Positioning Ocean Bottom Acquisition Systems Systems Acquisition Systems DigiBIRD and DigiFIN Marine VectorSeis Ocean DigiST REAM ER Positioning Redeployable Marine Streamer…
  12. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 12
    Summary on Total Vessels/etc Towed Streamer Fleet 180 9000 160 8000 Capacit y Range: 11 140 7000 120 6000 Vessel count Streamer km Hi 3D 100 5000 Hi 2D/Low 3D 2D 80 4000 Streamer Km Low Capacit y Range: 11…
  13. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 13
    A Matter of Perspective 16 x 12km Spread Configuration Overlaid on Manhattan 16 x 12 towed streamer spread configuration [ 13 ]
  14. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 14
    Analogy: Commercial Air Travel vs. Towed Streamer Operational Planning Commercial Air Travel Towed Streamer [IA] Flight Plan Survey Plan [ 14 ]
  15. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 15
    Analogy: Commercial Air Travel vs. Towed Streamer Operational Command & Control Intelligence Commercial Air Travel Towed Streamer [IA] Auto Pilot Orca [ 15 ]
  16. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 16
    Analogy: Commercial Air Travel vs. Towed Streamer Dynamic Operational Execution Commercial Air Travel Towed Streamer [IA] Dynamic Horizontal Control Tail rudder DigiFIN Dynamic Vertical Control Wing flaps…
  17. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 17
    [IA] in Action Orca Software Controlling the Streamer Spread via DigiFIN [ 17 ]
  18. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 18
    Land Imaging Systems Segment Land Acquisition Vibrators and Geophone Systems Energy Sources Firefly Worlds First digital X-VIB / ADV-IV SM-24 Geophone Full Wave Cable-less Vibrator Vehicles Analog Sensor Recording System Highly…
  19. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 19
    Majority of Global Resource Base is Onshore Hydrocarbon Distribution in the Top 25 Basins Known Reserves + Mean Undiscovered Resources Billions of Barrels of Oil Equivalent 40 538 126 85 34* 94 72 33 61 76 41 80 702 129…
  20. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 20
    2008 Estimated Global Seismic Crew Count Estimates for 2008(1) EAME & Russia & North Latin Total(2) China/AP ISC CIS America America WGN working 280 104 43 39 78 24 EY 2008 of Crews 872 176 240 305 118 33 Dynamite/Vibe 55%…
  21. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 21
    Land technology trends High Density Shooting for higher resolution Shallow plays such as Heavy Oil are 10X trace density of more conventional basins Benefits seen above leading to a move towards denser sampling in mature basins to…
  22. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 22
    Demand for Increasing Channel Count Need for better reservoir description driving demand [ 22 ]
  23. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 23
    Land Survey Schematic Cable-based Recording System (Scorpionor ARIES) [ 23 ]
  24. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 24
    Subsurface Illumination: Land vs. Marine More illumination = more information Current State of Art Current Full-wave Standard Acquisition geometries MARINE LAND WAZ Streamer Technology Narrow Azimuth 3-D Full Azimuth 3-D…
  25. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 25
    Land Acquisition Challenges Limitations of the Traditional Cable-based System Direct and indirect labor costs HSE issues Labor intensive Costly to scale Hard to compete against low-labor cost players Different ground…
  26. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 26
    Land Survey Schematic Cableless Recording System (FireFly) [ 26 ]
  27. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 27
    The FireFly Vision The Philosophy Behind the Design Improve the image quality using full-sampling and full-wave Eliminate cables & develop an ecosystem approach to facilitate high productivity and limitless scalability Reduce impact…
  28. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 28
    The FireFly Ecosystem A Comprehensive Approach Navigation and positioning Survey design for optimum image Node-based, full-wave recording system GIS planning and Comprehensive data management operations support [ 28 ]
  29. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 29
    FireFly Commercialization Update A combination of sales and rental/purchase agreements China Qaidam Basin 3D First commercial sale of FireFly Receiver stations: 10,808 Source points: 13,632 In progress Chopo Sur 3D Comesa and…
  30. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 30
    Qaidam Basin 3D Survey Geographical location Survey statistics Surface Area: 106 km Receiver stations: 11,957 Source points: 13,632 Active patch: 3,840 stns [ 30 ]
  31. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 31
    Qaidam Base Camp [ 31 ]
  32. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 32
    Contractor Modified Recording Truck [ 32 ]
  33. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 33
    East Texas Blocker Projects Survey size: 170 sq. Kms ION Haynesville Line 3000 Project start August 1 Source will be mostly Vibroseis with some 68 sq mi. - Blocker 3D dynamite and gunboat Power Plant operations (lake) 7 sq…
  34. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 34
    Blocker Survey East Texas, United States Challenges Demanding surface environment Minimizing HSE risk Customer objectives Characterization of the Haynesville shale target [ 34 ]
  35. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 35
    Varying HSE Challenges Nearby Power Plants and Energy Infrastructures [ 35 ]
  36. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 36
    Varying HSE Challenges Dense Forest and Water Hazards [ 36 ]
  37. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 37
    Difficult Navigation Vibroseis and Personnel Challenged by the Terrain [ 37 ]
  38. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 38
    Private and Restricted Areas FireFly Minimal Footprint FireFly FSUs were deployed on the land of a private resident without disturbance to their property [ 38 ]
  39. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 39
    Agricultural Intensive Region FireFly Minimal Footprint [ 39 ]
  40. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 40
    Pemex and FireFly 3 Projects Using Comesa as Contractor Area 2 Coyula IN PROGRESS Area 3 Tesechoacan Area 1 Chopo Sur - COMPLETED [ 40 ]
  41. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 41
    FireFly Operations Comesa Chopo Sur, Mexico Start: May 2009 8000 FireFly stations 297 sq km 3849 sources 11767 receivers Completed [ 41 ]
  42. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 42
    Coyula 3D Survey Area approx 180 Km [ 42 ]
  43. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 43
    Coyula - Farmland [ 43 ]
  44. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 44
    Coyula Dense Forest [ 44 ]
  45. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 45
    Coyula - Urban Acquisition [ 45 ]
  46. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 46
    2009 FireFly Projects Summary Super Major China Pemex Super Major Pemex East Texas Qaidam Chopo Sur East Texas* Coyula* Basin Survey Size 20.5 106 297 170 184 (sq. km) 197,000,000 33,000,000 Total Traces 24,549,900 74,852,321…
  47. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 47
    FireFly Release Schedule Q2 2009 - Q1 2010 Version 2.0.5 Deployed in China; East Texas and Mexico Support for dynamite, vibroseis and gun boat operations Version 2.1 Q4 release on schedule Key New Features Geophone Digitizer Unit…
  48. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 48
    Sequence of FireFly Deployments Cumulative Recording Since 2005 FireFly Recording Points 29,438 91,098 76,606 58,192 46,425 41,395 18,841 8,286 450 400 350 FireFly Trace Count (Millions) 300 250 200 150 100 50 0…
  49. Johnson Rice Energy Confernce – Ion Geophysical Corp – slide 49
    Summary The beginning of economic recovery will likely drive oil prices back to 60-70 bbl or higher. Supply will once again become the main driver. IONs short term goal is to weather the storm by focusing on cash management,…

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