Oslo, 1 November 2022 today announces that it is contemplating a private placement of new ordinary shares for gross proceeds of up to USD 150 million . PGS is currently seeing an ongoing market recovery with strengthening demand for its marine geophysical services, and expects that markets will improve further in 2023. It is known in the market that PGS is in the lead position for award of a significant 4D acquisition [...]
Improving Utilization and Contract Rates Strong Cash Flow Generation Takeaways Q3 2022 Revenues and Other Income of $198.5 million, compared to $141.7 million in Q3 2021 EBITDA of $98.1 million, compared to $65.6 million in Q3 2021 EBIT of $33.8 million, compared to a loss of $28.9 million in Q3 2021 Cash flow from operations of $177.9 million, compared to $114.5 million in Q3 2021 Cash and cash equivalents of $179.1 [...]
October 24, 2022, Oslo, Norway: PGS is awarded a 3D exploration acquisition contract* in Namibia by a major energy company. Ramform Titan will mobilize for this survey and acquisition is expected to complete mid-February 2023. "PGS has many years of experience operating in Namibia and we are proud to be part of this exciting new chapter in the country's offshore development. The contract secures visibility for the Ramform [...]
October 11, 2022, Oslo, Norway: Based on a preliminary review, PGS expects to report Revenues and Other Income according to IFRS* for Q3 2022 of approximately $199 million, compared to $141.7 million in Q3 2021. Contract revenues ended at approximately $101 million in Q3 2022, compared to $66.4 million in Q3 2021. MultiClient late sales revenues were approximately $72 million in Q3 2022, compared to $24.8 million in Q3 [...]
October 11, 2022, Oslo, Norway: PGS will release its Q3 2022 results on Wednesday October 26, 2022 at approximately 08:00am 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 the same day at 09:00 am CEST at PGS' headquarters [...]
September 28, 2022, Oslo, Norway: PGS has secured solid industry pre-funding for a MultiClient survey* in West Africa. The Ramform Atlas is scheduled to mobilize for the survey late October and acquisition is expected to complete early January. "This is the first MultiClient project in West Africa since early 2021 as we experience increasing demand for high-fidelity MultiClient data from our clients," says President & CEO [...]
President & CEO Rune Olav Pedersen will present today at 14:35 CEST at the Pareto Energy Conference. The presentation can be downloaded from www.pgs.com and www.newsweb.no. For details, contact: Bård Stenberg, VP IR & Corporate Communication Mobile: +47 992 45 235 Attachment Pareto Securities Energy Conference...
September 5, 2022, Oslo, Norway: PGS has made an updated presentation for the investor conferences the Company will attend in September. The presentation can be downloaded from www.newsweb.no and www.pgs.com. EVP & CFO Gottfred Langseth will present at the Barclays CEO Energy-Power Conference in New York on September 7 at 08:05 EST. The presentation can be followed live by using the link [...]
PGS, TGS and CGG Announce Schlumberger Joining Versal - a Unified Multi-client Data Ecosystem 29 August 2022 Oslo, Norway - PGS, TGS and CGG, industry leaders of multi-client geoscience data, announce that Schlumberger has become a part of Versal, increasing its coverage to the vast majority of the world's multi-client seismic data. Versal was created by PGS, TGS and CGG in 2020 and launched in 2021 to provide a [...]
26 August 2022, Oslo, Norway: PGS and Shell have entered into a multi-year agreement for access to a significant part of PGS' MultiClient Data Library. Over the last two years, PGS has developed and invested in a strategic cloud-based solution architecture that can serve MultiClient subsurface data to clients. This capability, enabling enterprise access, is unique within the industry and will improve exploration workflows [...]
16 August 2022 Reference is made to the stock exchange announcement on 11 August 2022 made by PGS ASA regarding the conversion of NOK 75,712,893 into 25,237,631 new shares in the Company at a conversion price of NOK 3.00 per share. pursuant to the convertible bond loan with ISIN NO0010920697 issued in Q1 2021 . The share capital increase pertaining to the Conversion has now been registered with the Norwegian Register of [...]
11 August 2022, Oslo, Norway: Reference is made to PGS ASA convertible bond loan with ISIN NO0010920697 issued in Q1 2021 . As the shares in the Company have traded above NOK 6.00 for a period of more than 30 consecutive trading days, the Company has today exercised its issuer conversion option under the Bond Loan whereby all outstanding bonds under the Bond Loan with a current aggregate nominal amount of NOK 75,712,893 [...]
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