TGS announces expansion of its 2018 onshore seismic activity with third project in the Anadarko Basin

HOUSTON, TX (12 April 2018) - TGS further expands its 2018 onshore seismic activity with the announcement of the Gloss Mountain 3D seismic survey. Gloss Mountain is a significant addition to our industry leading geoscience data position in the SCOOP/STACK area of the Anadarko Basin. This project will encompass a minimum of 900 sq. km in Major and Woods counties Oklahoma, just north of TGS' previously announced Canton 3D and our existing Loyal Complex 3D.

Permitting of the survey is in progress, with data acquisition expected to begin in Q3 2018. Preliminary data will be available Q1 2019, with final data in Q2 2019. The data will be processed by TGS utilizing its modern land imaging technology to provide clients with high resolution imaging of high potential Mississippian Chester, Osage and Meramec intervals in the center of the prolific SCOOP/STACK play fairway. Gloss Mountain 3D is complemented by TGS' extensive geologic products database in the SCOOP/STACK, comprising data from over 100,000 wells and multiple interpretive products, including Basin Temperature Modeling.

"The increased appetite from clients to fund new projects onshore North America demonstrates the value that E&P companies place in seismic as a tool to increase productivity and well results.  The addition of the Gloss Mountain 3D seismic survey, combined with our vast database of well data and interpretive products in the SCOOP/STACK play fairway, optimally positions TGS, to provide our clients with complete coverage of contiguous modern geoscientific data in this prolific area", commented Kristian Johansen, CEO for TGS.

This project is 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, 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: [phone]
Email: [e-mail]

Will Ashby
VP HR & Communication
Tel: [phone] 
Email: [e-mail]

 

 

 

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

Gloss Mountain 3D

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Source: TGS via Globenewswire