HOUSTON (6 February 2012) - TGS has commenced acquisition of the Bucklin multi-client 3D onshore survey in the United States. The newest onshore project is 280 mi2 (725 km2) in size and is located in Ford and Kiowa Counties in Southern Kansas.
The Bucklin seismic program is designed to illuminate the Mississippi Lime Play and aid in the development of this shallow oil rich play. The Bucklin survey is being acquired utilizing a hi-channel count vibroseis crew. Final deliverable products will be processed using pre-stack time migration.
"This marks the second project in unconventional basins for TGS in 2012. Customers have been very supportive of our project ideas and we are looking forward to expansion into this promising play," said Stein Ove Isaksen, Senior VP North & South America.
Data will be available to clients Q4 2012. The survey is supported by industry funding.
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.tgsnopec.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).
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: kristian.johansen@tgsnopec.com
Karen El-Tawil
VP, Business Development
Office: +1 713 860 2102
Cell: +1 713 806 2420
Email: karen.el-tawil@tgsnopec.com
Stein Ove Isaksen
Senior VP, North & South America
Office: +1 713 860 2111
Email: steinove.isaksen@tgsnopec.com
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)
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(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: TGS via Thomson Reuters ONE
