Seitel and Schlumberger Announce New 2D Multiclient Reimaging Program Onshore Mexico

Program covers both conventional and unconventional lease blocks

HOUSTON–(BUSINESS WIRE)–Seitel and Schlumberger today announced a strategic multiclient alliance
to reimage and acquire new geophysical data in key areas across onshore
Mexico. Approximately 25,000 kilometers of 2D seismic data from Mexico’s
National Hydrocarbons Commission (CNH) data library will be reimaged
covering lease blocks in the current Bid Round 2, as well as future
onshore lease round blocks. In addition, new multiclient data
acquisition projects are already in development.

The newly reprocessed seismic data and any new acquisition projects will
provide subsurface images of proven oil and gas reservoirs in the
Sabina-Burgos, Tampico-Misantla, Veracruz and Sureste areas, as well as
the under-explored Chihuahua province, and other strategic areas. The
reimaging program covers both conventional and unconventional onshore
lease blocks in the areas.

The areas for reimaging were strategically selected to deliver regional
analysis of the prospective plays across onshore Mexico with both
organizations using high-end processing workflows,” said Maurice Nessim,
president, WesternGeco, Schlumberger. “This alliance capitalizes on each
organization’s strong commitment to Mexico exploration over some of the
largest onshore Mexico fields, including the onshore Cuenca del Sureste
Basin, which shares many hydrocarbon system elements with the prolific
Pilar Reforma-Akal in the shallow water Campeche area.”

In 2015, Seitel was one of the first companies to expand its data
library coverage into Mexico, and we have seen great enthusiasm from our
customers for the onshore data already available for license,” said
Seitel Chief Executive Officer, Robert D. Monson. “We are excited to
form this alliance with Schlumberger as we continue to expand our
library and continue to provide additional value to our customers.”

Leveraging both companies’ extensive experience in onshore imaging and
multiclient projects, the program offers clients the first modern
regional seismic images in these areas. Final products over the prolific
fields of the Tampico-Misantla Basin are available for license now.

About Seitel

Seitel is a leading provider of onshore seismic data to the oil and gas
industry in North America. Seitel’s data products and services are
critical in the exploration for and development of oil and gas reserves
by exploration and production companies.

Seitel has ownership in an extensive library of proprietary onshore and
offshore seismic data that it has accumulated since 1982 and that it
licenses to a wide range of exploration and production companies. Seitel
believes that its library of 3D onshore seismic data is one of the
largest available for licensing in North America and includes leading
positions in oil, liquids-rich and natural gas unconventional plays as
well as conventional areas. Seitel has ownership in over 45,000 square
miles of 3D onshore data, over 10,000 square miles of 3D offshore data
and approximately 1.1 million linear miles of 2D seismic data
concentrated in the major active North American oil and gas producing
regions. Seitel has also expanded into Mexico through reprocessing
existing 2D seismic data for licensing to oil and gas companies. Seitel
serves a market which includes over 1,500 companies in the oil and gas
industry. For more information, visit www.seitel.com.

About Schlumberger

Schlumberger is the world’s leading provider of technology for reservoir
characterization, drilling, production, and processing to the oil and
gas industry. Working in more than 85 countries and employing
approximately 100,000 people who represent over 140 nationalities,
Schlumberger supplies the industry’s most comprehensive range of
products and services, from exploration through production, and
integrated pore-to-pipeline solutions that optimize hydrocarbon recovery
to deliver reservoir performance.

Schlumberger Limited has principal offices in Paris, Houston, London and
The Hague, and reported revenues of $27.81 billion in 2016. For more
information, visit www.slb.com.

Contacts

Seitel
Marcia Kendrick, +1 713 881 8900
Chief Financial Officer
[email protected]
or
Schlumberger
Susan
Ganz, +1 713 939 2997
Public Relations Manager-Western Hemisphere
[email protected]