Further Contract Market Improvement Muted Late Sales Takeaways Q3 2021 Segment Revenues and Other Income of $131.7 million, compared to $116.1 million in Q3 2020 Segment EBITDA of $55.6 million, compared to $88.4 million in Q3 2020 Segment EBIT loss of $39.5 million, compared to profit of $0.5 million in Q3 2020 Segment MultiClient pre-funding revenues of $35.3 million, with a corresponding pre-funding level of 101 [...]
October 11, 2021: Oslo, Norway, based on a preliminary review, PGS expects to report Revenues and Other Income As Reported* according to IFRS for Q3 2021 of approximately $142 million, compared to $85.1 million in Q3 2020. Segment* Revenues and Other Income for Q3 2021 are expected to be approximately $132 million, compared to $116.1 million in Q3 2020. Contract revenues ended at approximately $66 million . Segment [...]
This week at IMAGE21 PGS presented a game-changing realization of several decades of industry ambition. PGS Ultima is a move away from traditional sequential processing to a simultaneous inversion combining velocity model building and least-squares imaging. With PGS Ultima, accurate models and images can be derived faster, as the simultaneous inversion resolves both using the same raw seismic data. Ultima can bypass most [...]
September 30, 2021: Oslo, Norway, PGS will release its third quarter 2021 results on Thursday, October 21, 2021 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' web site www.pgs.com. President & CEO Rune Olav Pedersen and EVP & CFO Gottfred Langseth will present the results the same day at 09:00 am CEST at PGS [...]
PGS has 3D seismic data, acquired in partnership with Agência Nacional de Petróleo, Gás e Biocombustíveis , covering most of the available opportunities in the Angola 2021 bid round for offshore Kwanza and Lower Congo Basin, announced this month. The round, under Angola's Petroleum Activities Law, seeks to award eight areas. The PGS data library coverage uses a combination of 3D GeoStreamer technology and modern imaging [...]
September 29, 2021: Oslo, Norway, PGS on behalf of the PGS-TGS joint venture acquired over 10 000 sq.km of 3D GeoStreamer data offshore Newfoundland and Labrador between May and September this year. Fast-track results will be delivered in December 2021 and final imaging products will be ready Q1 2022. The data from this year's program expands the footprint of the PGS-TGS joint venture offshore Newfoundland and Labrador to [...]
In late-May PGS mobilized for a simultaneous node and streamer acquisition contract for Lundin Energy Norway in the Barents Sea. The project was completed mid-August and during the survey PGS set several acquisition records. ??????? ????Meeting the technology requirements was essential to winning the contract. PGS provided an innovative solution, including an ultra-wide hexa-source configuration towed behind the Sanco [...]
PGS is digitalizing its HSEQ incident management reporting system to improve crew safety. PGS has an ambition of zero injury to people, including employees, contractors, anyone involved in operations, and people visiting the Company's sites. As part of PGS' focus on safety, crew members log actual and potential safety issues in a card-reporting system. Since the observations are recorded as free text, and since crew [...]
August 30, 2021; Oslo, Norway, reference is made to PGS ASA convertible bond loan with ISIN NO0010920697 in the aggregate amount of NOK 116,162,097 issued in Q1 2021. The Company has received conversion notices from convertible bondholders representing NOK 6,788,637 in this bond issue to convert 6,788,637 bonds into shares with a conversion price of NOK 3. Pursuant to standard terms set out in the bond terms, the bonds [...]
August 26, 2021 The latest PGS MegaSurvey data reveals Tano Basin prospectivity from shelf to deep water and supplements our continuous data coverage from Côte d'Ivoire to Nigeria. This data package from PGS enables regional exploration across the West African Transform Margin. Phase two of our CDI MegaSurvey data adds 9 897 sq. km of 3D and 24 632 km 2D in the Tano Basin. The CDI MegaSurvey now offers 32 310 sq. km of [...]
PGS has completed the acquisition of a new GeoStreamer X survey in the UK sector of the North Sea over the Kraken field, East of Shetland. Ramform Vanguard acquired the MultiClient survey, covering two new azimuths of 200 sq. km, in July 2021. First GeoStreamer X data will be available Q2 2022. GeoStreamer X is an advanced high-density multi-azimuth solution that can be complementary to existing GeoStreamer coverage. It [...]
An additional 1000 sq. km of reprocessed 3D data from OPL 248 is now available. This completes the PGS Niger Delta 2020 Reprocessing package and is well-timed for a reassessment of Nigerian offshore exploration opportunities. On Monday 16 August, Nigerian President Muhammadu Buhari signed into law the much-awaited Petroleum Industry Bill , 2021, with new preferential tax provisions for deep offshore projects that [...]
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