22 June, 2022 - PGS ASA has decided to initiate a share buy-back program to cover settlement of Performance based Restricted Stock Units granted under the Company's 2019 Long Term Incentive Plan for employees. The buy-back program will be conducted in accordance with the authorization to purchase treasury shares provided to the Board of Directors by the Company's Annual General Meeting held on 27 April 2022. The program [...]
June 21, 2022, Oslo, Norway: PGS is awarded a significant acquisition contract, consisting of several 4D surveys, by an international oil company offshore West Africa. Acquisition is scheduled to start early November 2022 and expected to complete early May 2023. "We are very pleased with this contract award, which secures work for Ramform Vanguard until next summer season. Combining the Ramform acquisition platform and [...]
June 17, 2022, Oslo, Norway: PGS has received a conditional award for an acquisition contract over the Smeaheia carbon storage site in the North Sea, operated by Equinor. Acquisition is scheduled to start in August 2022 and expected to complete in September same year. "We are very pleased with another carbon storage acquisition contract by Equinor. Earlier this year we acquired data for the Northern Lights JV DA, one of [...]
New data released by the NPD and the University of Bergen provides unique and rich multiphysics information on seafloor minerals in Norway. OFG participated in data acquisition for three of four of the studies. Imaging of this data can be invaluable for guiding the development of a sustainable minerals sector. Since 2018, the Norwegian Petroleum Directorate has carried out annual research surveys on and around the Mohns [...]
June 2, 2022, Oslo, Norway: Reference is made to the announcement issued on March 9, 2022, regarding PGS strengthening its New Energy portfolio. Ocean Floor Geophysics, Inc , a company in which PGS owns approximately 43%, has now completed the acquisition of NCS SubSea and thereby controls the market-leading P-Cable system, which provides ultra-high resolution 3D seismic data to the oil and gas and new energy markets [...]
June 1, 2022, Oslo, Norway: Based on information currently available, PGS expects to report MultiClient late sales revenues in excess of $100 million in Q2 2022. MultiClient pre-funding revenues, according to IFRS 15 measurement, are expected to be between $80 million and $100 million in Q2 2022. Reference is made to the statement in PGS Q1 2022 Earnings Presentation that the Company expected significant transfer fees in [...]
May 31, 2022 Reference is made to the stock exchange announcements by PGS ASA on 4 and 5 May 2022 regarding a successfully placed private placement of 216,216,216 new shares in the Company , raising gross proceeds of approximately NOK 800 million. The Private Placement consists of one tranche of 74,200,000 New Shares and a second tranche of 142,016,216 New Shares , allocated among applicants on a pro-rata basis based on [...]
May 27, 2022 Reference is made to the stock exchange announcements by PGS ASA on 4 and 5 May 2022 regarding a successfully placed private placement of new shares in the Company, raising gross proceeds of approximately NOK 800 million, a potential subsequent offering of new shares, and the calling for an extraordinary general meeting in the Company to approve the Private Placement and the Subsequent Offering. The EGM was [...]
PGS Secures Commitment for Senior Secured Debt May 24, 2022, Oslo, Norway: Reference is made to the announcement issued on May 4, 2022 regarding the Private Placement and the Subsequent Offering. The Private Placement is, among other things, subject to the Company obtaining commitments to the satisfaction of the Company for approximately $50 million in new, senior secured debt by the time of the Extraordinary General [...]
May 13, 2022, Oslo, Norway: PGS announces that the 2022 long term incentive plan, as approved by the Annual General Meeting on April 27, 2022, has now been implemented by allocating 6 669 000 Performance based Restricted Stock Units . The awards are based on amongst other considerations the position in the Company and a review on the individual participant's performance prior to award. Any PRSU awarded will, subject to [...]
May 5, 2022, Oslo, Norway: PGS has secured solid industry pre-funding for a large MultiClient survey on the Northwest shelf of the Norwegian Sea. The Ramform Atlas is currently mobilizing for the survey, with scheduled acquisition start around May 10. "This is the first large-scale MultiClient survey we are acquiring offshore Norway since 2020, as we experience increasing demand for high-fidelity MultiClient data from [...]
Reference is made to the stock exchange announcement by PGS ASA on 4 May 2022 regarding a successfully placed private placement of new shares in the Company . The Board of Directors has resolved to propose to the Company's extraordinary general meeting that the Company conducts a subsequent offering with gross proceeds of up to NOK 141,176,471.1 by issuing up to 38,155,803 new shares at NOK 3.70 per share, equal to the [...]
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