TGS: Appoints Kristian Johansen as CEO
The Board of TGS has today announced that Kristian Johansen will succeed Robert Hobbs as Chief Executive Officer on March 11, 2016. After eight years with TGS, including nearly seven years as CEO, Mr. Hobbs has decided to retire. Kristian Johansen joined TGS in 2010 as Chief Financial Officer and …
TGS: 2015 Results – Revenues Down 33%, Q4 Down 56%
Based on a preliminary review of sales and investments, TGS provides the following update on Q4 2015: Q4 2015 net operating revenues of approximately 131 MUSD, down 56% from Q4 2014 Expected 2015 full year revenues of approximately 612 MUSD, down 33% from 2014 Q4 2015 operational multi-client investments of …
TGS: To Lay Off 130 Staff and Reduce the Cost of Some of their Multi Client Surveys
In order to further improve organizational efficiency and competitiveness TGS is implementing global cost reduction and efficiency plan. Furthermore, the value of selected MC surveys will be written down to reflect more cautious market assumptions. As advised in the 3Q report, TGS has in view of the weak market conditions …
TGS: Appoints Sven Børre Larsen As CFO
TGS is pleased to announce the appointment of Sven Børre Larsen as the Company’s new Chief Financial Officer. The effective date of Mr. Larsen’s employment is yet to be determined, but will be no later than December 1, 2015. Mr. Larsen will be based in TGS’ Asker office. Most recently, …
TGS: Record Fourth Quarter Helps to Achieve Annual Guidance
Following its update on 13 January, TGS now confirms net revenues of USD 298 million in Q4 2014, up 10% from USD 271 million in Q4 2013 and representing a record high for the Company. TGS achieved its 2014 guided revenues with full year net revenues of USD 915 million, …
TGS NOPEC: Announces Q3 Revenues of USD 190 million
TGS reports net revenues of USD 190 million in Q3 2014, compared to USD 191 million in Q3 2013. Earnings before interest and taxes (EBIT) totaled USD 71 million, corresponding to an EBIT margin of 38%. Cash flow from operations was USD 184 million, an increase of 57% from Q3 last …