TGS Awarded Data Processing For 30,000 Mexico Wells

TGS announces that it has obtained commercial authorization from the Mexican regulator, Comisión Nacional de Hidrocarburos (CNH), to process its entire library of more than 30,000 wells in Mexico.  This award grants TGS the right to process and deliver high-quality, high-value well data products to companies exploring in offshore and onshore Mexico.

The first phase of processing is focused on all onshore and offshore exploration and appraisal wells, plus key development wells for bid rounds.

TGS’ Mexico well data packages are available for delivery through the TGS R360 web portal.  The workstation ready packages of subsurface data include Digitized Well Logs in LAS+ format, SmartRasters, and Validated Well Headers, with optional Checkshots and Directional Survey Plus, Checkshot Plus, Mud LAS and Lithology LAS.

All data products come with full coverage of the wellbore system from surface to total depth.  TGS will perform quality control to ensure all attributes such as depth, direction, height, and elevation meet the most stringent guidelines for accuracy.

The packages provide key coverage of all offshore and onshore basins including exploration and appraisal wells in Perdido Fold Belt and Salina basin with additional focus on high interest areas such as Sureste and Veracruz, where recent discoveries have received industry-wide attention.  The packages also focus on Tampico-Misantla, with dense coverage across Chicontepec, and deep data for Agua Nueva and Pimienta unconventionals extending through the Burgos Sabrina Basins.  Processing has already commenced and with first delivery expected in February 2018.

“With this combination of well data packages, comprising over 30,000 exploration, appraisal and critical wells from across Mexico, alongside our existing Gigante regional offshore 2D seismic survey and our recently reprocessed onshore Mexico 2D seismic dataset, TGS is optimally positioned to provide our clients with a comprehensive, high quality Mexican database.  Our Mexican library will help E&P companies to evaluate petroleum potential from deep water to conventional and unconventional plays onshore, optimizing efforts in pursuing new lease rounds and investment opportunities in this region,” commented Kristian Johansen, CEO for 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.

Reference: tgs.com