Reference is made to the stock exchange notice by PGS ASA on 4 May 2022 regarding the successfully placed private placement of 216,216,216 new shares in the Company . The following primary insiders in the Company were allocated shares in the Private Placement: Walter Qvam, Chairperson of the Board, was allocated 100,000 shares in the Private Placement; Anne Grethe Dalane, Director, was allocated 25,000 shares in the [...]
Oslo, 4 May 2022 Reference is made to the stock exchange announcement by PGS ASA on 3 May 2022 regarding a contemplated private placement of new shares. The book-building for the Private Placement has been successfully completed, raising gross proceeds of NOK 800 million , through the allocation of 216,216,216 new shares in the Company , each at a subscription price of NOK 3.70 per New Share , representing a 3.1% discount [...]
Oslo, 3 May 2022 today announces that it is contemplating a private placement of new ordinary shares for gross proceeds of up to USD 75 million . The Company also intends to subsequently raise approximately USD 50 million in new, senior secured debt under the Term Loan B Credit Agreement . This Super Senior will rank senior to the existing Term Loan B loans in respect of their collateral. PGS is currently seeing an [...]
May 3, 2022, Oslo, Norway: PGS is awarded a Wide Azimuth 3D acquisition contract offshore Cyprus. Mobilization is scheduled to start mid-June and acquisition is expected to complete mid-August. "We are very pleased with this contract award, which is an important contribution to our vessel utilization during the summer season. The Eastern Mediterranean is a prolific gas region, and a well-known area to PGS. With our [...]
Challenging Q1 - Encouraging Market Outlook Takeaways Q1 2022 Revenues and Other Income of $136.2 million, compared to $165.7 million in Q1 2021 Increased contract and MultiClient late sales revenues compared to Q1 2021 MultiClient pre-funding revenues significantly reduced due to a low volume of MultiClient projects finalized and delivered to clients in the quarter EBITDA of $51.8 million, compared to $117.6 million in [...]
April 27, 2022, Oslo, Norway: PGS held its Annual General Meeting today. The Annual General Meeting resolved to approve all matters as proposed in the Calling Notice. The minutes from the Annual General Meeting can be downloaded from www.newsweb.no and www.pgs.com. Attachment Genforsprotokoll-AGM 2022 protocol...
April 26, 2022, Oslo, Norway: PGS leverages the multiyear frame agreement with Equinor, announced last year, to secure contracts for the 2022 summer season. PGS is awarded 4D GeoStreamer monitoring surveys over the Visund field in the North Sea and the Snøhvit field in the Barents Sea. Further, the Company was recently awarded a 3D exploration survey over the Prinsen and Hassel Ferdinand prospects in the Barents Sea [...]
The SNS Vision data rejuvenation project from PGS will target a mature gas province in the central SNS area, with a parallel focus on post-salt carbon storage potential in the Bunter formation. Data will be ready in spring 2023. Size and Targets The 10 000 sq. km PSDM reprocessing will deliver a single data volume and will bring new insights into the prospectivity in this prolific gas production area. It will also provide [...]
April 19, 2022: Oslo, Norway, PGS ASA has made minor revisions to Appendices II and V to the Calling Notice for the Annual General Meeting scheduled for April 27, 2022. The further details of the revisions are set forth in the calling notice with revised appendices, which can be downloaded from www.newsweb.no and www.pgs.com. The meeting agenda, proposed resolutions and proxy forms remain unamended. --END-- Attachments 1 [...]
April 11, 2022, Oslo, Norway: Based on a preliminary review, PGS expects to report Revenues and Other Income according to IFRS* for Q1 2022 of approximately $136 million, compared to $165.7 million in Q1 2021. As informed earlier, from January 1, 2022 PGS discontinued its previous Segment Reporting measurement to simplify external and internal reporting. From Q1 2022 the Company's financial disclosures are in accordance [...]
April 7, 2022: Oslo, Norway; PGS will release its Q1 2022 results on Thursday April 28, 2022 at approximately 08:00 am Central European Summer Time . The earnings release and the earnings presentation will be published on www.newsweb.no and on PGS' website www.pgs.com. President & CEO Rune Olav Pedersen and EVP & CFO Gottfred Langseth will present the results via an audiocast the same day at 09:00 am CEST. To join the [...]
First data is ready on phase one of the Cyprus Vision data rejuvenation product and work has started on phase two. This project, to create a 20 000 sq. km contiguous, modern seismic data volume in the Cyprus EEZ, is carried out in partnership with the Cypriot Ministry for Energy, Commerce and Industry. Phase one, which began in May 2021, creates a seamless 3D seismic volume of 14 750 sq. km KPSDM for Cyprus offshore [...]
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