Oslo, 18 September 2023 refers to the announcements on 18 September 2023 regarding a merger with TGS ASA and a contemplated private placement of 45,760,726 new ordinary shares . PGS is pleased to announce that the Private Placement has been successfully completed, raising gross proceeds of NOK 439,302,970 , through the allocation of 45,760,726 Offer Shares, each at a price per Offer Share of NOK 9.60 . The Private [...]
Oslo, 18 September 2023 refers to the announcement regarding a merger with TGS ASA earlier today, and announces now that it is contemplating a private placement of 45,760,726 new ordinary shares in the Company . The net proceeds to the Company from the Private Placement will be used to increase liquidity and enable a financially robust combined entity following the proposed merger with TGS, protect the Company against [...]
Creating a stronger and more diversified geophysical company and data provider to the energy value chain, driven by technology and innovation The combined entity will offer a robust position in all verticals: Multi-Client, acquisition, imaging and new energy Significant economies of scale, preliminary estimate of more than USD 50 million annually in cost synergies Enhancing the value and technology offering to clients [...]
Reference is made to PGS' stock exchange release published August 25, 2023 regarding settlement of 2020 long-term incentive plan. The payment has been determined based on a selling price of NOK 7.3604 per share. Primary insider notifications pursuant to the Market Abuse Regulation article 19 are attached. For details, contact: Bård Stenberg, VP IR & Corporate Communication Mobile: +47 99 24 52 35 Attachment Stock Exchange [...]
August 30, 2023, Oslo, Norway: PGS together with JV consortium partners TGS and SLB has secured pre-funding to expand MultiClient 3D seismic coverage in the prospective Sarawak Basin offshore Malaysia. The survey will cover approximately 5,300 square kilometers for which the Ramform Sovereign is currently mobilizing with completion of acquisition expected late November. The survey is the third phase of a multi-year [...]
August 25, 2023 Reference is made to the announcement made on August 24, 2020 by PGS ASA . There, PGS announced the award of 2 389 500 Performance based Restricted Stock Units to employees and primary insiders in the Company and its subsidiaries under the PGS ASA 2020 Long Term Incentive Plan . Each vested PRSU under the 2020 LTI Plan give the holder the right to receive one share in the Company. Ahead of the settlement [...]
August 24, 2023, Oslo, Norway: PGS is awarded a 3D exploration acquisition contract offshore Africa. A Ramform Titan Class vessel is expected to mobilize for the survey in the fourth quarter, subject to final approvals, and the program has a total duration of 4-5 months. "We are very pleased with this contract award, which improves our visibility into H1 2024. There is increasing exploration interest in Africa and this [...]
August 18, 2023, Oslo, Norway: PGS has entered a one-year strategic collaboration with inApril for the hybrid towed streamer and ocean bottom node market. "The strategic collaboration with inApril expands our service offering and capabilities in the contract and MultiClient acquisition segments, and further enhances PGS' position in a recovering seismic market", says Rune Olav Pedersen, President & CEO of PGS. "inApril [...]
August 16, 2023 - Reference is made to the stock exchange release by PGS ASA on August 14, 2023 regarding the initiation of a share buy-back program to cover settlement of Performance based Restricted Stock Units under the Company's 2020 Long Term Incentive Plan for employees. On August 14 and 15, 2023, PGS ASA has purchased a total of 1,575,000 own shares at the Oslo Stock Exchange at an average price of NOK 8.2194 per [...]
August 14, 2023 - 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 2020 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 April 26, 2023. The [...]
August 1, 2023, Oslo, Norway: PGS, TGS and CGG, industry leaders of MultiClient geoscience data, today announced the launch of new tiered offerings for Versal, the groundbreaking MultiClient data ecosystem. This update gives the entire industry free access to Versal, representing the world's most comprehensive MultiClient data coverage - all in one centralized location. Industry professionals can also benefit from a more [...]
July 20, 2023, Oslo, Norway: PGS ASA and/or its subsidiaries has secured commitments for a separate $75 million term loan facility to partly refinance its existing March 2024 Term Loan B maturity. PGS refinanced earlier this year leaving $138 million of the existing Term Loan B to be repaid in March 2024, which the Company expects to be manageable with available liquidity reserve and cash flow generation. However, to [...]
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