Petroleum Geo Services ASA (PGS.OL)
22 Feb 2017
Latest Key Developments (Source: Significant Developments)
Petroleum Geo Services ASA:Sees FY 2015 EBITDA to be in the lower range of the guided interval $550-700 million. Full Article
Petroleum Geo Services ASA:Sale and leaseback agreement is established between PGS and Offshore Merchant Partners ("OMP") for PGS Apollo on a 10-year bareboat charter, with an option for a 5-year extension at a reduced rate.Proceeds from transaction amount to $80 million, before transaction costs, and will strengthen the financial position of PGS further, making the Company even better positioned to navigate in the current challenging market.OMP is a portfolio company of HitecVision L.P VI, which primarily targets investments in global oil & gas related offshore asset markets.Navis Finance acted as advisor to the transaction. Full Article
Petroleum Geo Services ASA:TGS announces two new multi-client 2D surveys offshore Eastern Canada, with plans to acquire approximately 30,000 km of seismic data.Both surveys are in partnership with PGS, utilizing two vessels during the 2015 acquisition season.The M/V Atlantic Explorer utilizing the PGS GeoStreamer technology, will acquire approximately 18,000 km of seismic data in the Southeast Grand Banks. Data acquisition will commence during June 2015.The M/V Sanco Spirit, also utilizing the PGS GeoStreamer technology, will acquire approximately 12,000 km of seismic in the South Labrador, Northeastern and Eastern Newfoundland area.Data acquisition will commence during July 2015. Full Article
Petroleum Geo Services ASA:Expects FY 2015 EBITDA to be in the range of $550-$700 million. Full Article
OSLO, Feb 16 Seismic surveying company PGS posted a bigger loss than forecast for its fourth quarter on Thursday due to weaker than expected sales of its data, but said it expects demand for its services to grow as the oil market picks up.