TGS and PGS jointly acquire Dolphin's multi-client library
(Thomson Reuters ONE) -
ASKER, NORWAY (14 September 2016) - TGS announced today that it has, together
with Petroleum Geo-Services ASA (PGS), agreed principal terms and conditions for
jointly acquiring the majority of the multi-client library of Dolphin UK Ltd.
The parties expect to enter into a definitive agreement for the acquisition in
the near future.
"The Dolphin library is a good strategic fit for TGS and will add to our already
strong position in areas such as the Barents Sea, the North Sea, NW Africa and
Australia, including several surveys where TGS currently holds a joint interest
with Dolphin. With this acquisition we are continuing to execute on our active
consolidation strategy. This transaction will be the second strategic library
acquisition TGS has concluded in this down cycle, following the purchase of
most of the Polarcus library last year," stated Kristian Johansen, CEO of TGS.
"We are excited to enter into this transaction together with PGS, and it
positions us well for further cooperation in these prospective areas," he
added.
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, 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 principle 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:
Sven Børre Larsen
Chief Financial Officer
Tel: +47 90 94 36 73
Email: sven.larsen(at)tgs.com
Will Ashby
VP HR and Communication
Tel: +1 713 860 2184
Email: will.ashby(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 Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: TGS via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 14.09.2016 - 07:15 Uhr
Sprache: Deutsch
News-ID 494611
Anzahl Zeichen: 3747
contact information:
Town:
Asker
Kategorie:
Business News
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"TGS and PGS jointly acquire Dolphin's multi-client library"
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