PGS ASA: Third Quarter 2022 Results
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 (ex. impairments and other charges, net) of $33.8 million, compared to a …
PGS: Signs Milestone Data Management as a Service Agreement for MultiClient Seismic
PGS has signed a multi-year Data Management as a Service (DMaaS) agreement with a major customer. Cloud enablement of its MultiClient subsurface data library is an integral part of PGS’ digital transformation journey, enabling new services and business models that generate new revenue streams. Under this agreement, PGS will provide …
CGG, PGS and TGS Announce Versal, a Unified Ecosystem for Accessing Multi-Client Seismic Data across Multiple Vendors
Further to the announcement on 15 December 2020, CGG, PGS and TGS, industry leaders of multi-client geoscience data, today announce Versal – a unified seismic data ecosystem giving access to three of the world’s largest multi-client libraries via a single log-in. Versal is an independent, secure, cloud-based, multi-client seismic data …
PGS Enters Strategic Collaboration with Magseis Fairfield for the Hybrid Towed Streamer and OBN Market
PGS has entered a strategic collaboration with Magseis Fairfield to address the growing hybrid towed streamer and OBN seismic market. The strategic collaboration has a global scope with initial focus on the North Sea, and a duration of one year with options to extend by two plus two years. The …
PGS Digitalization Initiative Improves 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 …
PGS Completes Sale of CSEM Technology to OFG
PGS has today completed sale of the hardware, software and intellectual property associated with the Company’s towed streamer Controlled Source Electro Magnetic (“CSEM”) system to Ocean Floor Geophysics, Inc (“OFG”). The towed-streamer CSEM technology is a state-of-the-art system, which allows for the acquisition of high-quality marine CSEM data in a …
PGS and Cognite have Systemized Data to Increase PGS Vessel Speed without Jeopardizing the Seismic Acquisition Operation or the Vessel Integrity
PGS is using Industrial DataOps provided by Cognite, including Cognite Data Fusion™, to give seismic vessel operators a clear overview of the factors determining a vessel’s optimal operating speed. The solution cuts production time for PGS current fleet by more than 15 days, saves the Company more than $2 million …
PGS ASA: Q1 2021 Update
Based on a preliminary review, PGS expects to report Revenues and Other Income As Reported* according to IFRS for Q1 2021 of approximately $166 million, compared to $128.8 million in Q1 2020. Segment* Revenues and Other Income for Q1 2021 are expected to be approximately $132 million, compared to $168.3 …
CGG, PGS and TGS Announce Strategic Partnership for shared Multi-Client Data Offerings
CGG, PGS and TGS, industry leaders of multi-client geoscience data, today announced a pioneering strategic partnership to offer a shared ecosystem providing direct access to their subsurface multi-client data libraries. The independent, cloud-based ecosystem will offer a single search point to access all three companies’ multi-client data and allow customers …
PGS Sells Towed Streamer CSEM Capability to OFG
PGS and Ocean Floor Geophysics, Inc (“OFG”) have today signed an agreement under which OFG has acquired the exclusive rights to use the hardware, software and intellectual property associated with the PGS towed streamer CSEM system. PGS receives shares in OFG as settlement for the transaction. The towed-streamer CSEM technology …