TGS has signed an agreement with a major international oil company to perform cloud-based data management services leveraging TGS’s first-in-class Data Lake platform, the company said on May 1.
This service will allow E&P companies to reduce cycle times from purchase to value creation through on-demand data delivery, while also streamlining their data management processes. This is the first step of the E&P industries’ digital transformation and a necessary condition before large-scale artificial intelligence (AI) can be applied to sub-surface datasets.
TGS has developed a breakthrough machine learning algorithm for Salt Model Building, called SaltNet. SaltNet is a combined product, the result of the recent TGS Kaggle Salt Challenge and internal development. The application of SaltNet will significantly reduce the imaging cycle time for complex salt basins. SaltNet will be applied commercially in the imaging of TGS’s ongoing outboard Campos 3D project.
TGS is set to launch a new section on the company’s corporate website that will host its AI initiatives on May 2. This cloud-native platform for analytics and data management will provide both insight into TGS' analytics solutions, as well as a portal through which customers can leverage those algorithms into their workflows.
Here’s a snapshot of energy deals from the past week including Occidental’s $1.5 billion Permian Basin JV and a $700 million dropdown deal from Diamondback Energy.
Here’s a quicklist of oil and gas assets on the market including new packages of Permian Basin assets in Howard and Loving counties, Texas.
Here’s a quicklist of oil and gas assets on the market including EOG Resources Marcellus Shale assets and a Permian Basin minerals position from AE&J Royalties.