March 6, 2023, Oslo, Norway: In conjunction with PGS ASA and/or its subsidiaries' contemplated bond issue announced today PGS is pleased to announce that the international credit rating agencies Moody's Investors Services and S&P Global Ratings have published updated information regarding PGS' credit rating, as well as an instrument rating for the Bonds. Reference is made to the respective releases from the agencies [...]
March 6, 2023, Oslo, Norway: PGS ASA and/or its subsidiaries has mandated DNB Markets, a part of DNB Bank ASA, and Pareto Securities AS to arrange a series of fixed income investor meetings scheduled to commence today. A new 4-year senior secured bond of USD 450 million may follow, subject to inter alia market conditions. Net proceeds from the contemplated bond issue will, together with cash on balance sheet, be used to [...]
March 3, 2023, Oslo, Norway: PGS has signed a 3D exploration acquisition contract* for work offshore Namibia. Ramform Titan is mobilizing for the survey and acquisition is expected to complete in late May 2023. "We are very pleased with this contract award, as it follows nicely after the previous project and secures visibility for the vessel into the 2023 summer season," says President & CEO in PGS, Rune Olav Pedersen [...]
Strong Revenue Growth in a Recovering Seismic Market Highlights 2022 Produced Revenues of $817.2 million, compared to $590.0 million in 2021 Produced EBITDA of $446.7 million, compared to $320.2 million in 2021 Revenues and Other Income according to IFRS of $825.1 million, compared to $703.8 million in 2021, with an EBITDA of $454.6 million, compared to $434.0 million in 2021 EBIT according to IFRS of $117.0 million [...]
January 25, 2023, Oslo, Norway: PGS has been awarded its first ultra-high resolution windfarm site characterization project, sealing its entry into a strategically important new energy market. PGS New Energy offers solutions to the ongoing energy transition by building on the subsurface and operational expertise of PGS' employees and using the Company's assets. PGS aims to develop New Energy into a significant business [...]
January 24, 2023, Oslo, Norway: PGS will publish its Q4 2022 earnings release and capital markets day presentation on Thursday January 26, 2023 at approximately 07:00am Central European Time . The documents will be published on www.newsweb.no and on PGS' website www.pgs.com. Presentation of the Q4 2022 results and Capital Markets Day material will begin the same day at 09:00am CET at Felix Conference Center, Bryggetorget [...]
January 24, 2023, Oslo, Norway: Equinor has exercised an option to extend the framework agreement entered in March 2021 by two additional years. The two-year framework agreement covers 4D monitoring surveys on the Norwegian and the UK continental shelf. As a part of the agreement, Equinor has two 2-year options, of which one option has now been exercised. From the current agreement, PGS will acquire a 4D survey over the [...]
January 23, 2023, Oslo, Norway: PGS is awarded a 3D exploration acquisition contract in the Mediterranean by an international energy company. Ramform Hyperion is mobilizing for the survey and expects to complete in late April. "We are very pleased with this contract award which is the third sequential survey for Ramform Hyperion in the highly active Mediterranean geo-market where we have built a solid acquisition campaign [...]
January 19, 2023, Oslo, Norway: PGS will publish its Q4 2022 earnings release and capital markets day presentation on Thursday January 26, 2023 at approximately 07:00am Central European Time . The documents will be published on www.newsweb.no and on PGS' website www.pgs.com. Presentation of the Q4 2022 results and Capital Markets Day material will begin the same day at 09:00am CET at Felix Conference Center, Bryggetorget [...]
January 10, 2023, Oslo, Norway: Based on a preliminary review, PGS expects to report Revenues and Other Income according to IFRS for Q4 2022 of approximately $217 million, compared to $210.4 million in Q4 2021. The Company expects Revenues and Other Income on a percentage-of-completion basis for Q4 2022 of approximately $251 million, compared to $174.3 million in Q4 2021. PGS will in connection with the Q4 2022 financial [...]
January 6, 2023, Oslo, Norway: PGS will publish its Q4 2022 earnings release and capital markets day presentation on Thursday January 26, 2023 at approximately 07:00am Central European Time . The documents will be published on www.newsweb.no and on PGS' website www.pgs.com. Presentation of the Q4 2022 results and Capital Markets Day material will begin the same day at 09:00am CET at Felix Conference Center, Bryggetorget 3 [...]
December 27, 2022, Oslo, Norway: PGS has secured industry pre-funding for a large MultiClient survey in the Norwegian Sea. The survey will be acquired by a Ramform Titan-class vessel over two seasons with mobilization for the first season in Q2 2023. The survey will be completed during summer 2024. "We acquired the first phase of NWS GeoStreamer X this summer and have now secured pre-funding for a larger second phase. The [...]
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