TGS Acquires Volant Solutions
(Thomson Reuters ONE) -
HOUSTON (11 May 2012) - TGS announced today that its Geological Products
division purchased all the outstanding shares of Volant Solutions Inc.
Volant is a small, six-employee technology company based in Houston that
provides integration solutions for E&P companies to address the challenges of
managing ever increasing quantities of geotechnical data. This integration of
internal and external data sources with geoscience applications used by the
industry enables scientists and engineers to reduce interpretation cycle time
and increase efficiency.
"Volant Solutions is adept at helping clients connect many types of well data to
multiple geoscience applications", stated John Adamick, Senior Vice President of
Geologic Products. "Their EnerConnect(TM) and ENVOY(TM) software solutions are
unique products that provide tremendous benefits to oil and gas companies. We
are excited by the opportunity to help Volant grow their business and to
simultaneously increase the connectivity of TGS well data sets."
Scott Schneider, CEO of Volant Solutions also commented, "We look forward to
working with TGS to integrate TGS' broad suite of data products with our
integration technology in order to provide customers with more efficient access
to and usage of TGS data products within their interpretation processes. Volant
has developed a robust software solution that facilitates the integration of the
leading geoscience databases and applications - the key ingredient that we've
been missing is the tight integration with vendor data. With the combination of
TGS and Volant, we are now capable of providing geoscientists with complete
visibility into a vast array of data products directly from their desktops.
Volant is extremely excited about the growth potential of the combined
companies."
Company summary
TGS-NOPEC Geophysical Company (TGS) provides multi-client geoscience data and
services to oil and gas Exploration and Production companies around the globe.
TGS' geophysical and geological data products include multi-client seismic
libraries, permanent reservoir monitoring, magnetic and gravity data, the
industry's largest global database of digital well logs and regional
interpretive products. TGS also provides high-end depth imaging services to help
resolve complex seismic imaging problems. For more information visit TGS online
at www.tgs.com.
Forward-looking statements and contact information
All statements in this press release other than statements of historical fact
are forward-looking statements, which are subject to a number of risks,
uncertainties and assumptions that are difficult to predict, and are based upon
assumptions as to future events that may not prove accurate. These factors
include TGS' reliance on a cyclical industry and principal customers, TGS'
ability to continue to expand markets for licensing of data, and TGS' ability to
acquire and process data products at costs commensurate with profitability.
Actual results may differ materially from those expected or projected in the
forward-looking statements. TGS undertakes no responsibility or obligation to
update or alter forward-looking statements for any reason.
TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange
(OSLO:TGS).
For additional information about this press release please contact:
John Adamick
Senior VP, Geological Products and Services
Tel: +1 713 860 2114
Email: john.adamick(at)tgs.com
Kristian Johansen
Chief Financial Officer
Office: +47 667 69931
Cell: +47 47 60 33 34
Email: kristian.johansen(at)tgs.com
Karen El-Tawil
VP, Business Development
Office: +1 713 860 2102
Cell: +1 713 806 2420
Email: karen.el-tawil(at)tgs.com
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: TGS via Thomson Reuters ONE
[HUG#1611254]
Unternehmensinformation / Kurzprofil:
Datum: 11.05.2012 - 08:03 Uhr
Sprache: Deutsch
News-ID 145458
Anzahl Zeichen: 4831
contact information:
Town:
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Kategorie:
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"TGS Acquires Volant Solutions"
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