Houston, TX (8 June, 2009) - The Geological Products and Services division of TGS-NOPEC Geophysical Company (TGS) has entered into an agreement to add the well log data assets of EQT to TGS' growing commercial well log database. The deal with EQT is the first in a series of initiatives TGS is undertaking to increase the commercial availability of well log data in the Eastern US.
In the onshore United States, requirements for releasing well log and other borehole data into the public domain are set at the state level. For several key Eastern states, the reporting requirements are such that little data is commercially available to E&P companies. In response, TGS is working with operators such as EQT to make key well information from their log data collections available as part of its online database, LOG-LINE Plus!®. For participating, EQT gains access to their data in an online system where it has been scanned, quality controlled and cataloged, reducing overall data management costs and improving efficiency. Upcoming announcements will outline other components of the overall plan to increase access to well data in the region.
"With each new participant in TGS' current initiative to broaden its Eastern US well log inventory, the industry as a whole benefits," commented Mike Canich, VP Geosciences for EQT. "This is a good deal for EQT, a smart way to get more value out of our existing resources."
Data from the project is now available via LOG-LINE Plus!®, TGS' online database of more than 5.6 million logs from two dozen countries worldwide. Initially, the project will focus on data from West Virginia, Virginia, Kentucky, Pennsylvania and New York.