Devon Energy renews well log data services contract with A2D
05 May 2005
Agreement to provide nation-wide subscription and related services
Houston, Texas (May 5, 2005) - A2D Technologies announced today that it has renewed and extended its multi-year agreement with US-based Devon Energy Corporation to provide complete access to well log data products and related data management services. Under terms of the renewal, Devon's access expands to include a subscription for unlimited use of A2D's depth-calibrated smartRASTER® image data in the United States, along with new access in Canada. In addition, A2D will continue to host Devon's proprietary log data via LOG-LINE Plus!®.
A2D Technologies, a wholly-owned subsidiary of TGS-NOPEC Geophysical Company (TGS), 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). LOG-LINE Plus!® and smartRASTER® are trademarks of A2D Technologies.