Press Releases

TGS and PGS Announce Partnership with Bain Geophysical to Create Crustal Study Offshore East Canada

Houston, Texas (24 June 2019) – Building on their decade-long partnership for Eastern Canada seismic/gravity surveys, TGS and PGS have announced a partnership with Bain Geophysical Services to create a new regional study of the crust offshore Newfoundland and Labrador. 

Their Eastern Canada Crustal Study will build 3-D models including depth to magnetic/crystalline basement, depth to Curie isotherm, depth to Moho and crustal thickness, from the integration of seismic mapping and gravity and magnetic inversion and modeling.  The study was launched in Q1 of 2019 with early industry participation.

TGS’ Will Ashby, SVP North America, said, “We are pleased to announce this exciting new look at the crust beneath these highly prospective areas of Newfoundland and Labrador.  We are particularly pleased that the delivery schedule will provide our early participants results in time to impact their exploration evaluation for the upcoming lease sales.  This type of regional study helps to better understand the basic geologic framework for the area, and test alternative geologic interpretations, particularly beneath the shallower, more easily imaged horizons, so as to fully assess the crustal thickness and its effect on the petroleum system of this vast region.”

The Eastern Canada Crustal Study builds upon the recently completed Gulf of Mexico / Gigante Crustal Study, produced by TGS and BainGeo, which has been delivered to industry, and is rapidly improving understanding of the offshore Mexico petroleum system.

For additional information about this media release, please contact:

Tom Neugebauer: Tom.Neugebauer@tgs.com

John Bain: JBain@BainGeo.com

About TGS

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, and data integration solutions.

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 product 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.

Sven Børre Larsen

Sven Børre Larsen

Chief Financial Officer

Tel: +47 90 94 36 73

Ellen Munkvold

Ellen Munkvold

IR Coordinator

Tel: +47 97 76 26 25