Arcis Corporation

August 29, 2011 16:14 ET

Arcis Corporation Announces it has Successfully Completed the Purchase of All the Outstanding Shares of VGS Seismic Canada Inc.

CALGARY, ALBERTA--(Marketwire - Aug. 29, 2011) - Arcis Corporation is pleased to announce that it has successfully completed the purchase of all the outstanding shares of VGS Seismic Canada Inc.

This acquisition has materially expanded Arcis' 3D seismic data library from approximately 6,940 to 11,856 net square kilometers (a 71% increase), and adds approximately 4,772 net kilometers of 2D seismic data for a total of 6,003 net kilometers (a 387% increase). Arcis' President and CEO, Brad Torry, comments that "this transaction represents a significant step in Arcis' growth and includes strategic assets that complement Arcis' existing library". Torry, along with Holly Elrick Sr. VP Finance & CFO, went on to say "the transaction provides improved access for our clients to high quality seismic assets combined with enhanced technical solutions. Using Arcis' proprietary processing technologies, we are able to provide enhanced imaging solutions in new and emerging play fairways." The purchase includes assets in North East British Columbia, Alberta and Saskatchewan that are complementary to Arcis' existing database, reaffirming Arcis' position as a leading provider of high resolution, modern seismic data to the Canadian exploration industry.

CORPORATE PROFILE

Arcis is a market leader in the acquisition, marketing and licensing of 2D and 3D seismic data for the western Canadian energy sector, while providing its processing and reservoir technology leadership to the global petroleum industry. Arcis increases the value of seismic data through the application of proprietary data processing and reservoir applications that continue to be well regarded around the world.

For additional information contact Brad Torry or Holly Elrick.

www.arcis.com

Contact Information

  • Arcis Corporation
    Sandi Jarrett
    (403) 781-5866
    (403) 781-1710 (FAX)

    Arcis Corporation
    2600, 111 - 5th Avenue SW
    Calgary, AB T2P 3Y6
    www.arcis.com