In addition to our extensive global geophysical and geological data libraries, we also offer advanced processing and imaging services, interpretation products, and robust data-application integration. Access the industry’s largest volume of geoscience data through TGS’ cloud-based web portal, R360.R360 Login
TGS places great emphasis on providing accurate and timely information to the market and shareholders. Our flexible, asset-light business model and ability to adjust costs rapidly continue to allow us to deliver significant shareholder value—even in a difficult market.Learn More
It is our vision to become the leading energy information company with the best people, quality and service. Our unique culture, people and quality library will ensure that when E&P companies think geoscientific data, they think TGS.Discover How
At TGS, we place great emphasis on providing accurate and timely information on our performance and projects to the market and shareholders. Here you can access our latest news, download articles or technical papers from our library, or learn more about our upcoming conferences and events.Discover How
Our most important competitive advantage is our people. The outstanding work of our project developers, geologists, geoscientists, data processors, sales and support people has made TGS the leading multi-client player. They’re the reason TGS delivers superior project quality and financial performance year after year.Discover How
Products & Services featured content CTA would go in this area, promoting some of the company’s latest accomplishments.Products & Services featured content CTA would go in this area, promoting some of the company’s latest accomplishments.Discover How
ASKER, NORWAY (29 June 2015) - TGS has today entered into a Letter of Intent to acquire Polarcus' multi-client library, with the exception of Australia, for a price of USD 27.5 million on a cash and debt free basis. The transaction is subject to due diligence and final definitive documents with target closing date on or before July 31, 2015. Polarcus will continue to have rights to revenue share from the library after TGS has realized a predetermined return on its initial investment.
The multi-client library in Northwest Europe and West Africa consists of 22 3D seismic surveys comprising a total area of 40,000 sq. km and one 2D survey comprising 5,000 linear km. The data covers prime locations within the established hydrocarbon provinces of six countries along the western Atlantic margin corridor since 2011.
"We are pleased to announce a Letter of Intent to acquire a high-quality multi-client library in key areas of future growth for TGS. This acquisition significantly strengthens our 3D-position in established areas in UK, Norway and West Africa and is very complementary to our existing database with minimal overlap," stated Robert Hobbs, CEO, TGS.
The transaction will be financed with cash and in order to maintain its strong balance sheet and liquidity position, TGS has received a commitment from its existing lender to expand the current credit facility to USD 75 million. This will enable the company to continue to pursue attractive investment opportunities in a challenging market.