HOUSTON (15 October 2013) - TGS announces a new 3D multi-client onshore survey, Rush Creek, covering 161.5 mi2 in Roger Mills County, Oklahoma and Hemphill County, Texas that will build on an existing 62 mi2 3D survey recently purchased by TGS. Once the volumes are merged, the Rush Creek survey will total 210 mi2 and illuminate subsurface targets in the Granite Wash, Hogshooter, Cleveland Sands, Atoka and Tonkawa geological trends.
Acquisition will begin late Q4 2013 utilizing a high channel count vibroseis crew. Data processing will be performed by TGS and final data will be available to clients Q2 2014.
This survey 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, permanent reservoir monitoring 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 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).
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:
Kristian Johansen
Chief Financial Officer
Cell: +47 47 60 33 34
Email: kristian.johansen@tgs.com
Will Ashby
Director Investor Relations and M&A
Tel: +1 713 860 2184
Email: will.ashby@tgs.com
Rod Starr
Senior VP Western Hemisphere
Tel: +1 713 860 2100
Email: Rod.Starr@tgs.com
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Source: TGS via Thomson Reuters ONE
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