TGS Commences Two 3D Multi-client Onshore Surveys in Saskatchewan, Canada
(Thomson Reuters ONE) -
CALGARY, CANADA (15 August 2012) - TGS, through its newly acquired wholly-owned
subsidiary Arcis Seismic Solutions, is pleased to announce commencement of two
3D multi-client surveys onshore Canada, totaling 308 km(2) in size. These high-
resolution, wide aperture surveys are designed to image multiple prospective
zones focusing on illumination of the Bakken and Birdbear light oil plays and
represent Arcis' continuing investment to multi-client data in Western Canada.
The Neptune South 3D project is an expansion of Arcis' recent activity in the
Williston Basin in the prolific Lower Mississippian - Upper Devonian oil
fairway. It represents a southern extension of Arcis' Neptune 3D acquired with
primary prospectivity in the northern most extent of the Bakken/ Sanish/ Three
Forks Formations. Secondary potential within the survey area exists in
Ordovician (Red River oil) and Silurian aged rocks. The Unity North 3D project
is focused on expansion of the emerging Devonian Birdbear (Nisku equivalent)
play in Western Saskatchewan, with secondary potential in the Cretaceous
Mannville.
"TGS is enthusiastic about the opportunity to acquire onshore seismic data in
Canada, through the acquisition of Arcis Seismic Solutions. The entry into the
Canadian market and announcement of these two surveys is a key step in TGS'
strategic growth plan," commented Rod Starr, Senior VP Western Hemisphere for
TGS.
The seismic data will be processed by Arcis. Intermediate products will be
available to the industry in Q4 2012 with final data available in Q1 2013.
These multi-client surveys are supported by industry pre-funding.
Company summary
TGS-NOPEC Geophysical Company (TGS) provides multi-client geoscience data to oil
and gas Exploration and Production companies worldwide. In addition to
extensive global geophysical and geological data libraries that include multi-
client seismic data, magnetic and gravity data, digital well logs, production
data and directional surveys, TGS also offers advanced processing and imaging
services, interpretation products, permanent reservoir monitoring and data
integration solutions.
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:
Kristian Johansen
Chief Financial Officer
Office: +47 66 76 99 00
Cell: +47 47 60 33 34
Email: kristian.johansen(at)tgs.com
Karen El-Tawil
VP, Business Development
Office: +1 713 860 2102
Email: karen.el-tawil(at)tgs.com
Rod Starr
SVP, Western Hemisphere
Office: +1 713 860 2100
Email: rod.starr(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#1633917]
Unternehmensinformation / Kurzprofil:
Datum: 15.08.2012 - 07:50 Uhr
Sprache: Deutsch
News-ID 174930
Anzahl Zeichen: 4580
contact information:
Town:
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Kategorie:
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"TGS Commences Two 3D Multi-client Onshore Surveys in Saskatchewan, Canada"
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