TGS, through its newly acquired wholly-owned subsidiary Arcis Seismic Solutions, announced commencement of two 3D multi-client surveys onshore Canada totaling 119 square miles (308 square kilometers) in size. These high-resolution, wide aperture surveys are designed to image multiple prospective zones focusing on illumination of the Bakken and Birdbear light oil plays and represent Arcis' continuing investment to multi-client data in Western Canada.
The Neptune South 3D project is an expansion of Arcis' recent activity in the Williston Basin in the prolific Lower Mississippian - Upper Devonian oil fairway. It represents a southern extension of Arcis' Neptune 3D acquired with primary prospectivity in the northern most extent of the Bakken/ Sanish/ Three Forks Formations. Secondary potential within the survey area exists in Ordovician (Red River oil) and Silurian aged rocks. The Unity North 3D project is focused on expansion of the emerging Devonian Birdbear (Nisku equivalent) play in Western Saskatchewan, with secondary potential in the Cretaceous Mannville.
"TGS is enthusiastic about the opportunity to acquire onshore seismic data in Canada, through the acquisition of Arcis Seismic Solutions. The entry into the Canadian market and announcement of these two surveys is a key step in TGS' strategic growth plan," commented Rod Starr, Senior VP Western Hemisphere for TGS.
The seismic data will be processed by Arcis. Intermediate products will be available to the industry in 4Q 2012 with final data available in 1Q 2013. These multi-client surveys are supported by industry pre-funding.
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