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Benzinga
Benzinga
Business
Adam Eckert

Why ION Geophysical Stock Is Soaring

ION Geophysical Corp (NYSE:IO) shares are soaring Wednesday after the company announced it was awarded a five-year contract by Brunei Shell Petroleum for a digital solution to manage marine logistics.

The solution will be delivered utilizing the Marlin software suite and will include vessel monitoring, berth management and visual reporting tools for material supply workflows. The solution will digitize a number of manual processes and will also interface with existing tools.

ION Geophysical delivers powerful data-driven decision-making to offshore energy and maritime operations markets, enabling clients to optimize investments and results through access to its data, software and distinctive analytics. 

See Also: Why AlloVir Stock Is Surging Today

IO 52-Week Range: $0.35 - $2.67

According to data from Benzinga Pro, the stock was up 85.7% at 68 cents at time of publication.

Photo: PublicDomainPictures from Pixabay.

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