A2D signs comprehensive well log data agreement with Anadarko Petroleum Corporation
02 May 2005
Houston, Texas (May 2, 2005) - A2D Technologies, a TGS-NOPEC Company, announced today that it has completed a comprehensive well log data agreement with Anadarko Petroleum Corporation. The multi-year contract grants Anadarko access to A2D's commercial well log library in US onshore and offshore areas of interest and provides global digitization services.
The terms of the agreement include unlimited usage of industry-standard depth-calibrated smartRASTER® and LAS data, directly from A2D's legacy well log library. Additionally, Anadarko will continue to partner with A2D to further expand the commercial digital LAS log library, including new petrophysically processed Workstation Ready digital logs.
"Our agreement with A2D is a very important part of Anadarko's digital data strategy," commented Mike Seeber, Manager of Geoscience Systems for Anadarko. "Making well log data from around the world readily available to our geoscientists is an important part of staying competitive in today's market."
"The new agreement continues a successful data partnership between our two companies that began in 2001", added Rod Starr, Executive Vice President Sales & Marketing for A2D. "A2D is committed to delivering readily-available log data to Anadarko to meet user-specific needs and accommodate any changes in the company's current exploration program."
A2D Technologies, a wholly-owned subsidiary of TGS-NOPEC Geophysical Company, is the energy industry's well log data marketplace offering the largest online database, immediate delivery, conversion services, data management services and worldwide well log data sourcing. TGS is a leading global provider of multi-client geoscientific data, associated products and services to the oil and gas industry. The TGS family of companies places a strong emphasis on providing high-quality data and the highest level of service to the industry. 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).