GXT Completes IndiaSpan Acquisition

GX Technology Corporation (GXT) on Monday announced the completion of its latest basin-scale seismic program, IndiaSpan. The program provides high-resolution images of all the major basins off the east and west coasts of India, many of which have produced giant gas discoveries over the last five years.

V.K. Sibal of the Directorate General of Hydrocarbons in New Delhi commented, "As E&P activity in India continues to gain momentum, the country has a desire to attract and apply cutting-edge technology for oil & gas exploration in India's deep offshore waters. IndiaSpan provides a comprehensive structural framework for our key marine petroleum systems and is vital for global E&P companies participating in the region."

Mick Lambert, President of GX Technology, added, "GXT is focused on delivering our Span programs in major hydrocarbon-producing areas worldwide and is proud to add IndiaSpan to our data library. Working closely with regional experts, the program was custom designed to offer E&P companies valuable insights into this under-explored offshore region. We look forward to continuing to work in the region to help our customers extract the maximum value from IndiaSpan and to provide them with advanced processing services related to this dataset and other seismic datasets they may acquire in offshore India."

IndiaSpan is comprised of approximately 17,000 km of 2D marine data, of which approximately 10,500 km is along India's east coast. The seismic data acquisition involved long offsets of 10,000 meters, record lengths of 18 seconds, and a specially designed seismic source to illuminate the basin and rift architecture of the Indian Margin. GXT will use its advanced processing and depth imaging technologies to deliver the structural framework in the depth domain. With each data set, clients will receive an interpretation report prepared by regional experts and designed to help identify potential play types and exploration prospects in the area.

About Spans

GXT Spans are basin-wide, ultra-deep seismic data libraries that are acquired and imaged using the most advanced geological and geophysical technology available. Spans are custom designed to provide a holistic understanding of petroleum systems including source rock deposition, migration paths, sediment fairways, and reservoir trapping mechanisms. GXT Spans exist for the Gulf of Mexico, the margin of West Africa and for offshore basins in Colombia, India, Canada and the Caribbean. More Spans are planned for key petroleum provinces around the world.

GX Technology (GXT), a subsidiary of I/O, is a leading provider of advanced seismic imaging solutions to oil & gas companies worldwide. GXT's Image-Driven(TM) solutions include: seismic data processing services, such as state-of-the-art depth migration, reverse time migration, and full-wave imaging; multi-client seismic data libraries, including basin-wide Span(TM) seismic programs; software and services for seismic survey design, geophysical analysis, and reservoir modeling; and start-to-finish seismic imaging programs that encompass survey planning, field acquisition, and final image rendering. GXT is a Houston-based company that operates 8 regional service centers worldwide.

I/O is a leading, technology-focused seismic solutions provider. The company provides cutting-edge seismic acquisition equipment, software, planning and seismic processing services and data libraries 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.

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