On January 5, 2023, Magseis Fairfield, an industry leader in OBN acquisition and technology, was acquired by TGS, a global provider of energy data and intelligence, following the completion and settlement of the Offer.

Over the last several years, TGS has made several transitions to broaden and diversify its scope to offer data solutions and offerings across the energy mix. This acquisition creates an opportunity for two companies with a shared commitment to innovation and customer service to unite to enhance their partnership with clients and partners.

Kristian Johansen, CEO at TGS, said: “We are extremely excited about the acquisition of Magseis Fairfield, and integration planning is well on its way. Magseis Fairfield will become a separate business unit within the TGS group, and the expanded organization will continue to build on TGS’ values of quality and service. As a result, our customers will see continued safe and efficient execution of existing and future work, increased data processing and more opportunities in energy markets, including renewables.

The added TGS workforce, skill sets, and data equity will strengthen the already successful OBN business, bringing a more comprehensive range of knowledge and expertise under the same roof.

As a combined company, TGS will create a unique offering of superior imaging quality and operational efficiency across the energy value chain, with leading OBN and multi-client capabilities.”

Ongoing technology and data expansion initiatives, including 4D, production seismic and converted contracts solutions to the TGS portfolio, are underway.

Over the next several months, TGS will make these enhancements to its global organization through the integration process.