TGS has added Production Data from nine key Rocky Mountain states to its well database, the first phase in a national rollout to be completed during 2009. The combination of log and production data into a single, integrated, online delivery channel represents a significant step forward in data acquisition efficiency and cost reduction for our clients.
Production data tracks the output of oil, gas and water produced by a well, lease or formation, along with other information related to the location and nature of the well. TGS has developed systems to source the production data directly from the states responsible for collecting the information from well operators. The Oil and Gas industry uses this data in a variety of applications, to help measure and forecast the performance of reservoirs and to determine the value of assets.
Leveraging its expertise in data sourcing, quality control and online delivery gained from the ongoing expansion of what is already the world's largest well log database, TGS will be a strong player in the market for this data, so critical to E&P operators. Production Data from TGS will be available both as part of a subscription plan, wherein the data will be constantly updated, and as static Snapshot Reports, providing a quick-look option for individual wells.
"For years the market has sought a viable alternative for this key dataset," commented John Adamick, Senior Vice President, TGS Geological Products and Services. "TGS is offering flexibility in providing not just a traditional subscription approach, but Snapshot Reports fully integrated with our well log library to enhance the value of both data types."
Data from Montana, North Dakota, South Dakota, Wyoming, Utah, Colorado, New Mexico and Arizona is available now. In addition, legacy information from non-producing Idaho wells is included in the library. The next phase of the rollout will add data from the Gulf of Mexico and Gulf Coast states, including Oklahoma, Texas, Louisiana, Alabama, Georgia and Florida.
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