Contact Information: For more information, contact: Shawn Hanson Well Log Sales Manager TGS Geologic Products and Services +1 (713) 860-2100 John Adamick Senior Vice President TGS Geological Products and Services +1 (713) 860-2100
With Customer Participation, TGS Expands Online Access to Eastern US Well Log Data
| Source: TGS-NOPEC Geophysical Company
HOUSTON, TX--(Marketwire - June 8, 2009) - The Geological Products and Services division
of TGS-NOPEC Geophysical Company (TGS) has entered into an agreement to add
the well log data assets of EQT to TGS' growing commercial well log
database. The deal with EQT is the first in a series of initiatives TGS is
undertaking to increase the commercial availability of well log data in the
Eastern US.
In the onshore United States, requirements for releasing well log and other
borehole data into the public domain are set at the state level. For
several key Eastern states, the reporting requirements are such that little
data is commercially available to E&P companies. In response, TGS is
working with operators such as EQT to make key well information from their
log data collections available as part of its online database, LOG-LINE
Plus!. For participating, EQT gains access to their data in an online
system where it has been scanned, quality controlled and cataloged,
reducing overall data management costs and improving efficiency. Upcoming
announcements will outline other components of the overall plan to increase
access to well data in the region.
"With each new participant in TGS' current initiative to broaden its
Eastern US well log inventory, the industry as a whole benefits," commented
Mike Canich, VP Geosciences for EQT. "This is a good deal for EQT, a smart
way to get more value out of our existing resources."
Data from the project is now available via LOG-LINE Plus!, TGS' online
database of more than 5.6 million logs from two dozen countries worldwide.
Initially, the project will focus on data from West Virginia, Virginia,
Kentucky, Pennsylvania and New York.
TGS-NOPEC Geophysical Company (TGS) is a principal resource for global
geoscientific data products and services in the E&P industry. TGS
specializes in the design, acquisition and processing of
multi-client seismic surveys worldwide and delivers advanced high
performance seismic imaging and software solutions. The Company also
provides the world's largest online well-log database, well data management
services, multi-client interpretive products and subsurface consulting
services to industry. The suite of integrated exploration data products
available from TGS is distinctive and unmatched. The Company philosophy is
to create unique high-quality data collected in the right place at the
right time.
TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange
(OSLO : TGS ).
Visit TGS-NOPEC Geophysical Company online at www.tgsnopec.com