PGS

Petroleum Geo-Services ASA has developed a concept for efficient, large scale collection of plastic from the oceans. The solution uses the inherent benefits of seismic vessels and takes advantage of their air compressors and capabilities for handling large towing configurations. Each year, eight million tons of plastic ends up in the world’s …

The third of four Ramform Titan-class vessels, the Ramform Tethys, was celebrated in a naming ceremony at the Mitsubishi Heavy Industries Shipbuilding Co. yard in Nagasaki, Japan today. PGS’ two first Ramform Titan-class vessels, the Ramform Titan and the Ramform Atlas were delivered in 2013 and 2014 and have delivered …

PGS Highlights 2015 Revenues of $961.9 million, compared to $1,453.8 million in 2014 EBITDA of $484.5 million, compared to $702.6 million in 2014 EBITDA margin of 50% in 2015, compared to 48% in 2014, enabled by substantial cost reductions of $318.5 million EBIT, excluding impairments and other charges, of $15.8 …

Petroleum Geo-Services ASA (“PGS” or “the Company”) expects to report a full year 2015 EBITDA of approximately $485 million. For Q4 2015, the Company expects to report consolidated revenues of approximately $230 million and an EBITDA close to $120 million, excluding the charges and provisions described below. The Company achieved …

PGS is a leading global provider of marine seismic and electromagnetic services, data acquisition, imaging, reservoir services and multi-client library data. Fugro, the world’s leading provider of precise satellite positioning to the offshore oil and gas industry, will supply PGS vessels with a number of completely independent Global Navigation Satellite …

Highlights Q2 2015 Revenues of $255.8 million, compared to $337.0 million in Q2 2014 EBITDA of $125.1 million, compared to $170.6 million in Q2 2014 EBIT, excluding impairments and other charges, of $15.9 million, compared to $55.0 million in Q2 2014 Cash flow from operations of $83.1 million, compared to …

Petroleum Geo-Services ASA has entered into a sale and leaseback agreement of PGS Apollo, the only non-Ramform designed 3D vessel in the PGS fleet, and the best suited vessel for such a transaction. The sale and leaseback agreement is established between PGS and Offshore Merchant Partners (“OMP”) on a 10-year …

Highlights Q1 2015 Revenues of $251.1 million, compared to $292.5 million in Q1 2014 EBITDA of $124.8 million, compared to $138.5 million in Q1 2014 EBIT of $10.9 million, compared to $45.2 million in Q1 2014 Strong cash flow from operations of $212.4 million, compared to $182.1 million in Q1 …

Petroleum Geo-Services ASA concluded its election for Directors to the Board among the employees yesterday. The three employee elected Directors are: Anette Valbø – Corporate Controller, Marine Contract Espen Grimstad – Senior Supervisor, Operations Berit Osnes – Senior Vice President, MultiClient. Alternate directors are: Atle Aamodt – Senior Vice President, …

The Board of Directors of Petroleum Geo-Services ASA has on March 18, 2015 approved the 2014 annual financial statements prepared in accordance with International Financial Reporting Standards (“IFRS”). The Company reported its IFRS unaudited fourth quarter and preliminary full year 2014 results on February 12, 2015. Compared to the preliminary …