TGS Says Wavefield Not Participating in Wide Azimuth Project
TGS-NOPEC Geophysical refers to the press release related to the cooperation agreement on the Gulf of Mexico wide azimuth project.
TGS regrets that its merger partner Wavefield Inseis declined to participate in this wide azimuth project, having notified TGS that Wavefield Inseis was unable to satisfy the operational requirements of the project within the time constraints of TGS's customers and having informed TGS that it was unwilling to contribute its vessels absent a revision to the terms of the merger agreed between the two parties.
TGS remains committed to the creation of the merged company TGS-Wavefield and continues to believe that the merger provides for very material value creation for all the stakeholders of both companies.
- TGS Expects E&P Spend to Dip by up to 10% in 2017 (Oct 28)
- Schlumberger, TGS Begin 300-Block Gulf of Mexico Data Acquisition Program (Aug 04)
- PGS: Improving Sentiment in Offshore Seismic Market (Jul 21)
Company: Wavefield Inseis AS more info
- CGGVeritas Sets the Date for Acquisition of Wavefield Inseis (Feb 04)
- CGGVeritas' Settlement for Wavefield's Shares Expected to Close Tomorrow (Feb 03)
- CGGVeritas Closes Mandatory Offer for All Wavefield Shares (Jan 28)