TGS and Oseberg Join Forces for Enhanced Energy Data Solutions
TGS, a renowned name in energy data analytics, has partnered with Oseberg, a leader in lease and regulatory data, to enhance its Well Data Analytics platform. This strategic collaboration aims to incorporate Oseberg's lease data attributes, significantly improving the analytical capabilities available to customers.
Enhancing the Well Data Analytics Platform
With the integration, users of the Well Data Analytics platform now have immediate access to crucial lease ownership data from regions such as Texas, New Mexico, and Oklahoma. This integration not only combines various subsurface well data but also empowers exploration and production (E&P) companies to conduct their planning and decision-making with greater insight. By understanding leasehold constraints and land ownership, companies can minimize legal complexities and optimize operational strategies.
Optimized Planning and Decision-Making
Effective well planning is crucial in the energy sector, and TGS’s enhanced platform aims to streamline this process. Users will benefit from improved workflows for mergers and acquisitions, site planning, investment evaluations, and managing resource inventories. The integrated data fosters collaborative decision-making and enhances overall efficiency in planning and execution.
Voices Behind the Partnership
Carl Neuhaus, TGS’s Vice President of Well Data Products, emphasized the value of the partnership, stating that merging Oseberg's comprehensive lease data with TGS’s geological and well database creates an unrivaled subsurface data service. This integration allows users to verify land ownership swiftly and leverage TGS’s well data to assess resource deliverability and development planning precision.
Oseberg's Unique Approach to Data
Oseberg's CEO and Co-Founder, Evan Anderson, highlighted the company’s commitment to providing clean, structured, and context-rich information. By focusing on transforming unstructured lease filings into actionable data, Oseberg aims to furnish critical insights pertaining to drilling rights and proration units, a decision-making cornerstone for stakeholders in the energy sector.
Combining Strengths for Market Advantage
The partnership between TGS and Oseberg not only combines technological strengths but also integrates two fundamental aspects of the upstream oil and gas business. As TGS offers a vast subsurface and well log library, the integration allows for unprecedented access to data that can significantly affect drilling and production strategy.
About TGS and Oseberg
TGS has built an enviable reputation in the energy data space with a well data library that spans over a century, encompassing both public and proprietary data sources. Their Well Data Analytics tool is designed to be user-friendly, supplying advanced visualizations, search capabilities, and dashboard customization within a cloud framework.
Oseberg, on the other hand, leverages innovative technology, including NLP engines, to refine oil and gas public filings. This next-generation data strategy helps in delivering continuously updated structured data streams, which equip teams with the foresight required to stay ahead in a rapidly changing market.
Media Inquiries
For further questions or media inquiries regarding this partnership, please reach out to:
Bård Stenberg
IR & Business Intelligence
investor@tgs.com
Frequently Asked Questions
What does the partnership between TGS and Oseberg entail?
The partnership will integrate Oseberg's lease data attributes into TGS's Well Data Analytics platform, enhancing data analysis for E&P companies.
Which regions' lease data will be accessible through this integration?
Users will gain access to lease ownership data for Texas, New Mexico, and Oklahoma.
How will this integration benefit E&P companies?
It will enable better planning, risk reduction, and optimization of drilling strategies, aligning them with land ownership constraints.
What is the main aim of TGS's Well Data Analytics tool?
The tool integrates high-quality well data with advanced visualizations and customizable workflows to assist users effectively.
How can I contact TGS for more information?
For inquiries, contact Bård Stenberg at investor@tgs.com.
