GXT Completes Acquisition of GulfSpan OBC

GX Technology, a leading seismic imaging services provider and a subsidiary of Input/Output, Inc. has complted GulfSpan OBC, an ocean bottom cable extension of GXT's acclaimed GulfSpan seismic data library for the Gulf of Mexico (GoM). GulfSpan OBC was designed to deliver high resolution images of the ultra-deep section of the GoM shelf and to map the continuity of subsurface reservoir horizons from the onshore Gulf coast offshore into the deepwater. This imaging program represents a number of firsts for GXT, including:

     *  GXT's first Span to be acquired without towed streamer technology
     *  GXT's first full-wave Span program, leveraging VectorSeis® Ocean
     *  GXT's first Span program to include onshore seismic data

Mick Lambert, President of GXT, stated, "The Gulf of Mexico remains an extremely active region as oil & gas companies continue to look to deeper waters and deeper horizons for new drillable prospects. Like all of our Spans, GulfSpan OBC was designed with the specific imaging objectives of the oil & gas companies in mind. In this case, our customers wanted a program that better resolved the deep geology of the Gulf of Mexico shelf and that tied prospective horizons to analogous zones onshore and in the deepwater. GulfSpan OBC customers are finding that this new look at the depositional history of the shallow water shelf has begun to change their conventional interpretations of the regional geology in the area. Both we and our customers are hopeful that GulfSpan OBC will generate a new wave of drilling and discoveries in the Gulf."

To improve the frequency content of the acquired data, GXT used I/O's VectorSeis Ocean (VSO) seabed acquisition system. VSO is designed to record broadband, high resolution, full-wave data from the low noise environment of the ocean bottom. When VSO data is processed using the advanced PreSDM algorithms and Image-Driven(TM) approach of GXT, the resulting image quality is often significantly improved, allowing geoscientists to better map structural and stratigraphic features in the subsurface including faults, salt flanks, and steeply-dipping sand bodies.

GulfSpan OBC also extends to tie in select traverses from existing SEI and GPI onshore seismic databases that are being reprocessed by GXT using advanced processing workflows. As a result, the comprehensive GulfSpan library will include upgraded land data that will be consistent with the regional objectives of the overall GulfSpan program and allow customers to extend their knowledge of the geology of the northern GoM through the transition zone and to the up-dip basin margins onshore.

GulfSpan is the only basin-scale seismic data library that was purpose- designed to deliver consistency of information across the entire northern Gulf of Mexico. GulfSpan delivers insight into the deep basin architecture of the GoM from the Florida Escarpment to Brownsville and from the uppermost reaches of the basin to the deepwater border with Mexico. Containing 1,100 miles of depth-migrated data, GulfSpan OBC fills a void in an area of intense industry interest.

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. In addition to the GoM, GXT Spans exist for 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 Input/Output, Inc., is a leading provider of Image-Driven(TM) seismic solutions. Oil & 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. GXT's solutions include start-to-finish seismic acquisition programs, time processing, pre-stack depth and time imaging, anisotropic imaging, wavelet-based AVO analysis, 4D and full-wave 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, Luanda and Port Harcourt.

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.