SOURCE: TGS-NOPEC Geophysical Company

TGS-NOPEC Geophysical Company

April 19, 2012 08:00 ET

TGS Signs Agreement to Provide Access to Canadian Well Data via Geo Webworks

CALGARY, AB--(Marketwire - Apr 19, 2012) - TGS has entered into an agreement with Geo Webworks of Calgary to provide access to TGS' online library of digital well log data across Western Canada. TGS currently has data available for 450,000 Canadian wells.

"We feel that our database is a natural addition to the content of Geo Webworks, especially since the challenging resource plays in Canada demand the improved accuracy provided by our LAS Plus and Directional Survey Plus data types," commented John Adamick, Senior Vice President of Geological Products and Services at TGS.

Geo Webworks contains multiple GIS layers and includes a Frac Knowledge database, Well Spacing Module and an Acquisition and Divestment solution. TGS' global well data library includes 6.6 million well logs from 32 countries that are available online via LOG-LINE Plus!®

Company summary

TGS-NOPEC Geophysical Company (TGS) provides multi-client geoscience data and services to oil and gas Exploration and Production companies around the globe. TGS' geophysical and geological data products include multi-client seismic libraries, permanent reservoir monitoring, magnetic and gravity data, the industry's largest global database of digital well logs and regional interpretive products. TGS also provides high-end depth imaging services to help resolve complex seismic imaging problems. 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 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 reason.

TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange (OSLO: TGS).

Contact Information

  • For additional information about this press release please contact:

    Kristian Johansen
    Chief Financial Officer
    Office: +47 667 69931
    Cell: +47 47 60 33 34
    Email: Email Contact

    Karen El-Tawil
    VP, Business Development
    Office: +1 713 860 2102
    Cell: +1 713 806 2420
    Email: Email Contact

    John Adamick
    SVP, Geological Products and Services
    Office: +1 713 860 2100
    Email: Email Contact