TGS: 2D Cubed Creating a 3D Image from 2D Data
2D seismic data still provides key information for companies evaluating new permits on offer or entering new basins. However, working on multi-vintage 2D data can be time-consuming for a number of reasons, including getting correct navigation, variability of physical parameters like amplitude, time and phase between different vintages, and then …
TGS and EnergyIQ Announce Collaboration to Launch EIQ TGS Data Loader
TGS, a leading provider of multi-client geoscience and engineering data for Exploration & Production companies, today announced the EIQ TGS Data Loader, developed in collaboration with EnergyIQ. Now, companies can automatically blend industry leading data with proprietary customer data in an enterprise well master data management platform for advanced analysis …
Shearwater GeoServices Brings 10th Vessel Into Active Operation as Marine Seismic Acquisition Market Gains Traction
Shearwater is pleased to announce that the company will have a total of 10 vessels in operation for the 2019 northern hemisphere summer season. This extensive fleet is brought into operation on the back of solid backlog and provides marine seismic acquisition services spanning towed and seabed activities in response …
TGS Acquiring Spectrum to Cement its Position as a Leading Provider of Multi-Client Seismic Data
TGS-NOPEC Geophysical Company ASA announced today that it has agreed on the principle terms for the acquisition of Spectrum ASA, creating a leading provider of 2D and 3D seismic data. The transaction is expected to be completed as a statutory merger pursuant to Norwegian corporate law between TGS and Spectrum, …
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 Completes Acquisition of Polarcus’ Library
Reference is made to the stock exchange release on 29 June 2015 regarding the acquisition of Polarcus’ multi-client library. As of today, the parties have completed the main component of the transaction. The closing of the remaining projects in West Africa is expected within Q3 2015, subject to the relevant …
TGS Announces Q2 Revenues of USD 140 million
TGS reports net revenues of USD 140 million in Q2 2015, compared to USD 205 million in Q2 2014. Earnings before interest and taxes (EBIT) totaled USD 36 million, corresponding to an EBIT margin of 26%. Despite the industry’s market challenges and uncertain outlook, TGS reports a backlog of USD 242 million and a cash balance of USD …
TGS: Signs Letter of Intent to Acquire Polarcus’ Multi Client Library
TGS has today entered into a Letter of Intent to acquire Polarcus’ multi-client library, with the exception of Australia, for a price of USD 27.5 million on a cash and debt free basis. The transaction is subject to due diligence and final definitive documents with target closing date on or …