TGS Announces Two New Onshore Multi-Client 3D Seismic Surveys in the Utica Play
HOUSTON, TX -- (Marketwired) -- 02/25/14 -- TGS announces two new
multi-client onshore 3D surveys, Freeport and Waterford, located
within the central Appalachian Basin in Ohio. These high resolution,
wide aperture surveys will provide critical data for geotechnical
evaluations of the emerging Utica-Point Pleasant fairway while
enabling further exploration and development of secondary zones
within the Cambrian to Devonian interval.
Freeport covers 1,217 km(2) across Carroll, Harrison, Tuscarawas,
Guernsey, Belmont and Noble counties in central Ohio and is located
south of TGS' existing Firestone (1,054 km(2)) survey. Waterford
covers 210 km(2) in Washington County, Ohio within the current
southern core of the Utica-Point Pleasant wet gas window.
TGS will support these new investments with data from its expansive
well log library and new advanced products that will improve play,
trend and prospect delineation. In addition to over 7,000 LAS well
logs in the Ohio portion of the Appalachian Basin, TGS also offers
its proprietary formation tops database, updated well performance
data through its Longbow(TM) solution and Basin Temperature Modeling
"With the addition of Freeport and Waterford, TGS will have more than
2,480 km(2) of high quality 3D seismic data and an extensive amount
of geological data over the Utica formation," stated Rod Starr,
Senior VP Western Hemisphere for TGS. "No other company offers a more
comprehensive geoscience data library over the emerging liquid rich
Acquisition of both surveys will begin Q4 2014 utilizing high channel
count wireless equipped 3D crews. Data processing will be performed
by TGS' Calgary-based subsidiary, Arcis Seismic Solutions, and
available to clients late Q4 2015.
This survey is supported by industry funding.
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.
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
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:
Chief Financial Officer
Cell: +47 47 60 33 34
Director Investor Relations and M&A
Tel: +1 713 860 2184
Senior VP Western Hemisphere
Tel: +1 713 860 2100
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