TGS Acquires Production Data Firm
TGS said it has purchased all outstanding shares and completed the acquisition of Lasser, Inc., a Fort Worth-based company which provides historical and monthly oil and gas production data.
Lasser owns, maintains and licenses a nationwide U.S. offshore and onshore well production database. The data will be added to TGS’ current Well Performance Database and provides TGS clients access to previously unavailable historical production data. All production data undergoes proprietary operational processes to standardize and allocate production to the well level. Clients can expect complete production histories, high quality data and forecasts, alongside completion data, which is allocated to each wellbore.
Katja Akentieva, EVP Onshore and Well Data at TGS, said, “Lasser’s vast well performance data library will further solidify TGS’ production data offering. Now our customers will have the information they need, all in one place, to help estimate reserves and forecast reservoir performance, leading to better production overall. Our ability to apply the latest technology and analytics algorithms to our expansive library of seismic, well and production data positions TGS to become the primary source for subsurface intelligence.”
TGS’ well database also includes more than 1.7 million LAS digital wells in North America and 35 other countries worldwide. TGS’ Analytics Ready LAS (ARLAS) coverage extends to more than 300,000 wells in the Permian basin and more than 170,000 wells in the Anadarko basin.