HOUSTON, TX (7 February 2018) – TGS announces expansion of its 2018 onshore seismic activity with the Canton 3D seismic survey in the Anadarko Basin. This project will encompass a minimum of 452 square miles north of TGS' Loyal Complex, targeting the high potential Mississippian Chester, Osage and Meramec intervals in the heart of the prolific SCOOP/STACK play fairway.Permitting of the survey has already commenced and data acquisition is expected to begin in Q2 2018, with preliminary data available Q4 2018 and final data in Q1 2019. The data will be processed by TGS utilizing its modern land imaging technology to provide clients with high resolution imaging of prospective reservoir intervals. The seismic survey 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.“TGS continues to see momentum in our onshore seismic business. The Anadarko Basin is recognized as a top US shale play and it is generating high interest from producers nationwide. This new survey helps to strengthen our leading position in the SCOOP/STACK play fairway and demonstrates continued support from our customers as they pursue exploration and development targets using our data. Along with the recently announced Hackberry Complex and existing Loyal Complex surveys, TGS now offers contiguous modern seismic data coverage in this prolific area”, commented Kristian Johansen, CEO for TGS. This project is supported by industry funding.Company SummaryTGS-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 informationAll 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:Will Ashby
VP HR & Communication
Tel: +1 713 860 2184 begin_of_the_skype_highlighting end_of_the_skype_highlighting
Email: [email protected]This information is subject of the disclosure requirements acc. to Â§5-12 vphl (Norwegian Securities Trading Act)Attachments:http://www.globenewswire.com/NewsRoom/AttachmentNg/7469d33f-f619-4a4c-b901-cfbfc6257db3
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