OSLO, Norway (8 July 2026) - TGS, a leading provider of energy data and intelligence, today announced that it has closed the sale of its North American well data products business to Enverus, Inc. for a purchase price in excess of USD 100 million. The transaction consists of USD 100 million payable at closing, with an additional USD 15 million earn-out conditioned on milestones agreed between the parties.

A2D, a subsidiary of TGS acquired in 2002, operates TGS’ well data products business, including the North American well log library and associated data products. The business has formed part of the company’s North American onshore data offering and had revenues of USD 27 million in 2025, representing 2.9% of TGS’ reported multi-client revenues.

The divestment reflects TGS’ continued focus on portfolio optimization and capital discipline. With acquisitions of PGS, Magseis and ION Geophysical during 2022-2024, TGS has successfully built a strong market position in offshore basins around the world, with an integrated offering of leading offshore OBN and streamer technologies, the world’s leading multi-client library and advanced data processing. As a result, the company’s North American onshore geological business has become less strategic to TGS’ long-term priorities.

The sale enables the A2D well data products business to transition to an owner appropriately positioned to support its next phase of growth, including through a gradual evolution toward software-as-a-service offerings. TGS retains a license to use the A2D North American well log library for internal purposes, allowing for the continued enhancement of its seismic data products.

“This transaction represents an important step in sharpening TGS’ strategic focus and strengthening our balance sheet,” said Kristian Johansen, CEO of TGS. “We built the A2D well data products business into something the industry depends on, and we are pleased that it will be a good fit with Enverus’ business offerings and allow it to grow further. The transaction provides TGS a solid commercial valuation for this business, allowing us to enhance our focus on our integrated offshore geophysical service offering and improve our strong balance sheet, further supporting shareholder capital allocation strategies.”

Manuj Nikhanj, CEO of Enverus, commented: “A2D is the subsurface dataset the industry has relied on for 30 years. It now sits alongside the deepest operational, economic and commercial data in energy — including exchange networks through which an estimated 80% of U.S. production volumes are shared and more than $500 billion in annual transaction activity flows. Every major decision in energy touches the subsurface. Now that data connects to everything else we do.”

TGS intends to use the proceeds from the transaction to reduce net debt, providing increased flexibility to pursue higher capital returns to shareholders over time, in line with the company’s financial priorities and capital allocation strategy.

TPH&Co., the energy business of Perella Weinberg Partners, acted as financial advisor to TGS, and Gibson, Dunn & Crutcher LLP acted as legal counsel to TGS.

For more information, contact:

TGS – Bård Stenberg
VP IR & Business Intelligence 
Mobile: +47 992 45 235
investor@tgs.com

Enverus - Jon Haubert
Director of Communications
Phone: +1 303.396.5996
jon.haubert@enverus.com

About TGS
TGS provides advanced data and intelligence to companies active in the energy sector. With leading-edge technology and solutions spanning the entire energy value chain, TGS offers a comprehensive range of insights to help clients make better decisions. Our broad range of products and advanced data technologies, coupled with a global, extensive and diverse energy data library, make TGS a trusted partner in supporting the exploration and production of energy resources worldwide. For further information, please visit www.tgs.com (https://www.tgs.com/).

About Enverus
Enverus is the energy industry’s AI and data platform, serving more than 8,000 energy companies across 50 countries. Built on 25+ years of proprietary intelligence, 2.7 petabytes of continuously updated data, 350 million+ courthouse records and $500 billion+ in annual transaction value across the full energy value chain — upstream, midstream, power, renewables, utilities and capital markets. Enverus is 100% dedicated to energy. Learn more at Enverus.com.

Forward Looking Statement
All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict and are based upon assumptions as to future events that may not prove accurate. These factors include volatile market conditions, investment opportunities in new and existing markets, demand for licensing of data within the energy industry, operational challenges, and reliance on a cyclical industry and principal customers. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.