April 17, 2024, Oslo, Norway: Reference is made to the joint stock exchange announcement on 18 September 2023 by TGS ASA and PGS ASA regarding the combination of the two companies to establish the premier energy data company, as well as subsequent announcements on 25 October 2023 and 1 December 2023 regarding, respectively, the execution of the definitive merger agreement and approval by the extraordinary general [...]
April 9, 2024, Oslo, Norway: Based on a preliminary review, PGS expects to report Revenues and Other Income according to IFRS for Q1 2024 of approximately $217 million, compared to $143.1 million in Q1 2023. The Company expects Produced Revenues* for Q1 2024 of approximately $223 million, compared to $172.2 million in Q1 2023. Contract revenues ended at approximately $116 million in Q1 2024, compared to $94.1 million in [...]
April 8, 2024, Oslo, Norway: PGS has received a letter of award for a large 3D contract offshore South Atlantic margin from a multiclient company. A Ramform Titan-class vessel is scheduled to commence mobilization in June, with a forecast acquisition duration of up to 300 days. "Seismic activity offshore South Atlantic margin is increasing as a result of recent exploration success, and we are very pleased with this letter [...]
April 4, 2024, Oslo, Norway: PGS is awarded a 4D contract in Northern Europe for an independent energy company. The Ramform Tethys is scheduled to mobilize for the survey in late April and the project has a total duration of approximately 30 days. "We are very pleased with this contract award, marking the start of the Northern Europe summer season for the Ramform Tethys. By combining the Ramform acquisition platform with [...]
April 3, 2024, Oslo, Norway: PGS, a fully integrated marine geophysical company, together with its joint venture consortium partners, TGS and SLB have successfully commenced a MultiClient 3D seismic project located in the Penyu Basin, offshore Peninsular Malaysia. The Ramform Sovereign vessel was mobilized to the acquisition area in March 2024 and the area coverage is approximately 7,800 square kilometers. Acquisition [...]
February 22, 2024, Oslo, Norway: PGS is awarded a 3D project in the Mediterranean for a major energy company. The Ramform Hyperion is scheduled to start the survey early March and the project has a total duration of approximately 30 days. "We are very pleased with this acquisition project award, extending the Ramform Hyperion's campaign in the Mediterranean until the end of March. After completing this project, the [...]
Reassuring Late Sales and Attractive Contract Rates Highlights Q4 2023 Produced Revenues of $227.3 million, compared to $250.7 million in Q4 2022 Produced EBITDA of $126.7 million, compared to $145.2 million in Q4 2022 Produced EBIT of $33.3 million, compared to $57.7 million in Q4 2022 Revenues and Other Income according to IFRS of $265.1 million, compared to $216.7 million in Q4 2022 Cash flow from operations of $115.8 [...]
14 February 2024, Oslo, Norway - Reference is made to the joint stock exchange announcement on 18 September 2023 by TGS ASA and PGS ASA regarding the combination of the two companies to establish the premier energy data company, as well as subsequent announcements on 25 October and 1 December 2023 regarding, respectively, the execution and approval of the definitive merger plan for the Merger. The Merger is currently [...]
February 13, 2024, Oslo, Norway: PGS is awarded an offshore wind site characterization contract in Europe. Mobilization is scheduled for early July and the contract has a total duration of approximately 2 months. The project will be acquired with PGS' ultra-high-resolution 3D streamer, providing significantly more detailed subsurface data for shallower targets compared to traditional seismic acquisition systems. "We are [...]
January 30, 2024, Oslo, Norway: PGS will publish its Q4 2023 results on Thursday, February 15 at approximately 07:00 am Central European Time . The earnings release and the presentation will be published on www.newsweb.no and PGS' website www.pgs.com. Rune Olav Pedersen, President & CEO, and Gottfred Langseth, EVP & CFO will present the results the same day at 10:30 am CET at House of Oslo Conference Center, Ruseløkkveien [...]
January 9, 2024, Oslo, Norway: Based on a preliminary review, PGS expects to report Revenues and Other Income according to IFRS for Q4 2023 of approximately $265 million, compared to $216.7 million in Q4 2022. The Company expects Produced Revenues* for Q4 2023 of approximately $227 million, compared to $250.7 million in Q4 2022. Contract revenues ended at approximately $84 million in Q4 2023, compared to $111.2 million in [...]
January 8, 2023, Oslo, Norway: PGS together with JV consortium partners TGS and SLB, have secured pre-funding to expand MultiClient 2D seismic data coverage in the Sabah Basin offshore Malaysia. The seventh phase of this multi-year project off the coast of Sabah encompasses over 5,000 kilometers of new 2D seismic data acquisition, over 2,600 kilometers of legacy seismic data processing and 2,800 square kilometers of [...]
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