Press Releases

TGS enters new play in U.S onshore, with Railgun 3D Seismic Survey in the Powder River Basin

HOUSTON (12 February 2019) – TGS announces a new multi-client onshore 3D seismic survey, Railgun 3D, located within the Powder River Basin.

Railgun 3D will encompass approximately 680 km2 in Converse and Campbell Counties, Wyoming. The high-resolution survey is ideally located in the high potential trend core of the basin where the prospective stratigraphic section of stacked reservoirs exceeds 5000 ft in thickness.  Unconventional targets include two world class source rocks, the Niobrara and Mowry, along with numerous historically productive tight sand formations including the Turner, Sussex, Shannon, Parkman, Frontier and Teapot, that are now being exploited successfully with unconventional technologies.

Recording will commence in Q3 2019 and will be completed before the end of the year. The data will be processed by TGS utilizing its modern land imaging technology to provide clients with greater reservoir understanding. The Railgun 3D is complemented by TGS' extensive geologic products which include a fully interpreted regional basin stratigraphic model that is analytics-ready, derived from an extensive library of high-quality well data.  More than 41,000 LAS logs and over 145,000 raster logs are immediately available for the Powder River Basin.

"TGS’ entry into the Powder River Basin is consistent with our strategy to identify prolific and high potential onshore plays where the application of modern seismic can deliver significant benefits to the exploration and production of hydrocarbons,” stated Kristian Johansen, CEO for TGS.  “Through the Railgun 3D, TGS establishes a solid position in this known hydrocarbon producing province that will enhance our current library offerings and provide additional opportunities for growth in this important basin.”

This project is supported by industry funding.

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