TGS Announces LOA for 2D Surveys over Mexico and US Atlantic
(Thomson Reuters ONE) -
ASKER (20 November 2014) - TGS announces that it has signed a Letter of Award
(LOA) with Seabird Exploration to acquire up to 300,000 km of 2D seismic data
over Mexico and US Atlantic waters. The LOA provides TGS access to charter up to
six seismic vessels over a period of approximately 36 months. This activity is
expected to commence in 2015 subject to the issuance of seismic acquisition
permits from the relevant authorities.
"TGS is pleased to have secured customer funding and access to seismic vessels
for the regional 2D activity that is targeted for 2015," stated Rod Starr,
Senior VP Western Hemisphere for TGS. "There is a high level of oil company
interest in Mexico and US Atlantic and we believe that these will be important
regions for future exploration".
This announcement is further to a Letter of Intent issued 1 April 2014 for
Mexico which was announced 2 April 2014.
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 of Finance Western Hemisphere & Investor Relations
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 GlobeNewswire on behalf of
GlobeNewswire 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 GlobeNewswire
[HUG#1872931]
Unternehmensinformation / Kurzprofil:
Datum: 20.11.2014 - 07:50 Uhr
Sprache: Deutsch
News-ID 354198
Anzahl Zeichen: 3903
contact information:
Town:
Asker
Kategorie:
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"TGS Announces LOA for 2D Surveys over Mexico and US Atlantic"
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