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Monday, 01 December, 2008, 23:50 GMT | more >>

TGS corks seismic deal



By Upstream staff 

Norwegian seismic player TGS-Nopec’s offshoot TGS Geological Products and Services said today that it has sealed another multi-million dollar underwriting commitment to its US Log Ascil Standard (LAS) programme.

The undisclosed underwriter will receive license to about 400,000 LAS and over 4 million smartRASTER well logs from TGS over a three and half year term. About one-third of the data is available for immediate delivery said TGS.

LAS well logs are fully digitised well logs that are used in a variety of geological, geophysical and petrophysical applications, plus they typically have a commercial value of around ten times the value of standard well log images.

SmartRASTER is a format developed by TGS to depth calibrate rasterised well log images.

"This transaction is even larger than the record well log deal we announced in 2007. With this latest addition, the onshore US LAS underwriter program now has six underwriters and includes commitments to nearly 850,000 wells covering much of the Rocky Mountains and the onshore Gulf Coast regions. In addition, we already have extensive LAS coverage in the offshore Gulf of Mexico region,” TGS’s boss, Robert Hobbs, said in a statement today.


Monday, 07 April, 2008, 07:45 GMT  | last updated: Monday, 07 April, 2008, 07:48 GMT

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