TGS Provides 2014 Investment Visibility with Three New Multi-client Seismic Surveys
(Thomson Reuters ONE) -
HOUSTON (23 October 2013) - TGS announces three new multi-client surveys; a 3D
survey in the Atwater Valley area of the central Gulf of Mexico, a 3D onshore
survey in Alberta, Canada and a 2D survey offshore Newfoundland.
The Francisco 3D multi-client survey in the Atwater Valley area of the central
Gulf of Mexico expands upon the previously announced survey. Upon completion,
the survey will total more than 6,667 km(2) of seismic data in this frontier
area of the Gulf of Mexico. Data processing will be performed by TGS using
Clari-Fi(TM) technology, a proprietary broadband processing technique. Final
data will be available to clients in Q4 2014.
Pendryl, a new 3D multi-client onshore survey covering 320 km(2) in Central Deep
Basin in Alberta, Canada will expand TGS' existing coverage in the emerging
Duvernay play. The survey is located Southwest of Edmonton and is designed to
evaluate multiple zones from Cretaceous to Devonian, including currently
producing formations such as Cardium, Glauconite, Nordegg, Pekisko and
Duvernay. The seismic data will be processed by TGS' Calgary-based subsidiary,
Arcis Seismic Solutions, and final data will be available to clients late Q1
2014.
The Northeast Newfoundland Shelf 2D survey covering 5,000 km expands on the
previously announced survey offshore Newfoundland. Upon completion, the survey
will cover 25,000 km in this region of prolific oil discoveries including
Hibernia, Terra Nova, Hebron, White Rose and the more recent Mizzen, Harpoon and
Bay du Nord discoveries. The survey will be acquired in partnership with PGS
and utilizes PGS GeoStreamer® technology. Final data will be available to
clients during Q3 2014.
All three surveys are supported by industry 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).
TGS sponsored American Depositary Shares trade on the U.S. over-the-counter
market under the symbol "TGSGY".
For additional information about this press release please contact:
Kristian Johansen
Chief Financial Officer
Cell: +47 47 60 33 34
Email: kristian.johansen(at)tgs.com
Will Ashby
Director Investor Relations and M&A
Tel: +1 713 860 2184
Email: will.ashby(at)tgs.com
Rod Starr
Senior VP Western Hemisphere
Tel: +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#1737503]
Unternehmensinformation / Kurzprofil:
Datum: 23.10.2013 - 07:50 Uhr
Sprache: Deutsch
News-ID 308392
Anzahl Zeichen: 4871
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