TGS Announces New Onshore Multi-Client Program in the Midland BasinSource: OMX
OSLO, Norway (20 February 2023) – TGS, a global provider of energy data and intelligence, today announced Pontiac 3D, a new onshore seismic program in the Midland Basin. This project will encompass ~167 square miles in Ector, Midland, Crane, and Upton counties, Texas.
Pontiac 3D sits on the western edge of the Midland Basin and encompasses historical production from Sprayberry and Wolfcamp intervals, along with significant accumulations in deep seated structures in the Devonian and Ellenburger formations. The survey is designed to assist in the evaluation and horizontal development of multiple zones, including the emerging the Barnett Shale, Mississippi Lime, and Devonian horizons, which are highly prospective, with analogous play concepts having been proven just north of Pontiac in Andrews County. Data acquisition is expected to begin in Q3 2023 with final data available to clients in early Q2 2024. TGS' extensive geologic products database complements Pontiac 3D, which includes interpretive products and data from over ~250,000 wells in the Midland Basin.
Kristian Johansen, CEO at TGS, commented, “We are pleased to add the Pontiac 3D survey to our expanding Permian Basin library. We continue to leverage our knowledge and expertise to aid our clients in their exploration and development activities in the Midland Basin. The data will be processed by TGS utilizing its modern land imaging technology, including TGS’ Dynamic Matching Full Wave Inversion, to provide clients with greater reservoir understanding."
This project is supported by industry funding.
TGS provides scientific data and intelligence to companies active in the energy sector. In addition to a global, extensive and diverse energy data library, TGS offers specialized services such as advanced processing and analytics alongside cloud-based data applications and solutions.
Forward Looking Statement
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 volatile market conditions, investment opportunities in new and existing markets, demand for licensing of data within the energy industry, operational challenges, and reliance on a cyclical industry and principal customers. 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.
For more information, visit TGS.com or contact:
Sven Børre Larsen
Chief Financial Officer