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TGS NOPEC Geophysical Company ASA (TGS.OL)

TGS.OL on Oslo Stock Exchange

181.60NOK
20 Oct 2017
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Latest Key Developments (Source: Significant Developments)

TGS says seismic market slowly getting better
Wednesday, 13 Sep 2017 06:28am EDT 

Sept 13 (Reuters) - Tgs Nopec Geophysical Company Asa CEO Kristian Johansen told a conference on Wednesday::"After q3 our prefunding percentage should be well within of our guidance range" for the year of 40-45 percent.says the market is slowly getting better.  Full Article

TGS sees oil majors exploring more as cash flows improves
Thursday, 3 Aug 2017 04:06am EDT 

Aug 3 (Reuters) - TGS NOPEC GEOPHYSICAL COMPANY ASA CEO KRISTIAN JOHANSEN TOLD ANALYSTS DURING THE Q2 EARNINGS CALL: :KNOWS NO OIL COMPANIES THAT EXPECT OIL PRICES TO RISE TO $75/BARREL SOON, ALL EXPECTING OIL PRICES AT $50-60/BARREL.EXPECTS OIL MAJORS TO INCREASE FOCUS ON EXPLORATION, SEISMIC ACQUISITION GOING FORWARD AS COST CUTTING EFFORTS HELPED TO IMPROVE CASH FLOWS.SAYS DISCUSSIONS WITH CLIENTS IS CERTAINLY MORE POSITIVE THAN A YEAR AGO, BUT THE SITUATION IS STILL VERY CHALLENGING.SAYS HAS PLANS TO STRENGTHEN ITS POSITION IN BRAZIL.  Full Article

TGS Q2 operating result in line with forecast, guidance unchanged
Thursday, 3 Aug 2017 01:00am EDT 

Aug 3 (Reuters) - Tgs Nopec Geophysical Company Asa :Tgs q2 revenues $ 108 million (Reuters poll $115.0 million).Quarterly dividend will be maintained at usd 0.15 per share..Tgs q2 operating result $18 million (Reuters poll $17.3 million).Financial guidance unchanged.Tgs says in q3 the activity with respect to data acquisition volumes will be at historically high levels and the investment and pre-funding levels are set to increase significantly from the levels experienced so far this year.  Full Article

TGS and PGS to expand Canada seismic data collection
Tuesday, 23 May 2017 01:50am EDT 

May 23 (Reuters) - TGS Nopec Geophysical Company Asa :TGS and PGS ramp up 3D activity offshore eastern Canada.TGS and PGS announce two new multi-client 3d seismic projects offshore eastern canada.Joint venture is now ramping up its 3d seismic acquisition in newfoundland labrador with these additional projects, reflecting high customer interest in this region.Following completion of these surveys jointly-owned library will have more than 175,000 km of 2d geostreamer data and 19,400 km2 of 3d geostreamer data.The projects are supported by industry funding.  Full Article

BRIEF-Seismic firm TGS raises 2017 investment guidance
Tuesday, 23 May 2017 01:50am EDT 

Repeats to attach to additional alert:Increases 2017 investment guidance to approximately usd 260 million.New investment guidance represents an increase of approximately 20% over 2016 multi-client investments, while the company had earlier predicted flat year-on-year investment nFWN1IC013.Has successfully secured prefunding commitments from clients to support additional multi-client investments in 2017.Additional multi-client investments expected from sales of existing surveys with risk sharing arrangements.Pre-Funding of new multi-client investments expected to be approximately 40-45 pct, in line with previous statement. (new multi-client investments forecast excludes investments related to surveys with risk sharing arrangements).  Full Article

Seismic firm TGS raises 2017 investment guidance
Tuesday, 23 May 2017 01:50am EDT 

May 23 (Reuters) - Tgs Nopec Geophysical Company Asa :Increases 2017 investment guidance to approximately usd 260 million.New investment guidance represents an increase of approximately 20% over 2016 multi-client investments, while the company had earlier predicted flat year-on-year investment nFWN1IC013.Has successfully secured prefunding commitments from clients to support additional multi-client investments in 2017.Additional multi-client investments expected from sales of existing surveys with risk sharing arrangements.Pre-Funding of new multi-client investments expected to be approximately 40-45 pct, in line with previous statement. (new multi-client investments forecast excludes investments related to surveys with risk sharing arrangements).  Full Article

TGS CEO, other insiders buy shares in TGS
Friday, 10 Mar 2017 01:57am EST 

TGS Nopec Geophysical Company Asa : Says TGS CEO Kristian Johansen has bought 9,500 shares in TGS at a price of NOK 183.2026 per share . Following this transaction, Mr Johansen holds 11,000 shares, 51,500 stock options and 88,000 Performance Share Units in TGS . Says TGS Chief Financial Officer Sven Boerre Larsen, through his company Saturnia Invest AS, has bought 3,000 shares in TGS at a price of NOK 185.990 per share . Following this transaction, Mr Larsen holds 3,600 shares and 52,000 Performance Share Units in TGS . Says other insiders, including John Adamick, Senior VP Geological Products and Services, Katja Akentieva, Senior VP Onshore, Will Ashby, VP HR & Communication and Knut Agersborg, VP Operations also bought shares .TGS-NOPEC Geophysical Company (TGS) provides multi-client geoscience data to oil and gas Exploration and Production companies worldwide.  Full Article

TGS backlog now around $100 million vs $51 million at year-end
Thursday, 2 Feb 2017 06:39am EST 

Seismic firm Tgs Nopec Geophysical Company Asa : CEO says "as we speak, backlog is around $100 million versus $51 million at year-end" Further company coverage: [TGS.OL] (Reporting by Ole Petter Skonnord, editing by Terje Solsvik) ((terje.solsvik@thomsonreuters.com;)).  Full Article

TGS plans to keep quarterly dividend at $0.15/shr in 2017
Thursday, 2 Feb 2017 04:30am EST 

Tgs Nopec Geophysical Company's CFO Sven Boerre Larsen told an investor conference: Company's base case plan is to keep quarterly dividend at $0.15 per share through 2017 Further company coverage: [TGS.OL] (Reporting By Ole Petter Skonnord, editing by Terje Solsvik) ((terje.solsvik@thomsonreuters.com;)).  Full Article

TGS Q4 operating profit below forecast, sees another challenging year
Thursday, 2 Feb 2017 01:20am EST 

Seismic firm TGS Nopec: Tgs to propose quarterly dividend of $0.15 per share (versus $0.15 per share in q3) . Tgs q4 operating result $42 million (Reuters poll $49.2 million) vs $-140 mln in Q4 2015 . TGS q4 net revenues $165 mln, in line with guidance from Jan 9, and vs $132 mln in Q4 2015 . TGS sees new multi-client investments 2017 at approximately the same level as in 2016 . TGS: additional multi-client investments in 2017 expected from sales of existing surveys with risk sharing arrangement . TGS says pre-funding of new multi-client investments in 2017 expected to be approximately 40-45% . TGS: with oil companies’ e&p spending expected to remain around 2016 levels, 2017 is likely to be another challenging year for the seismic industry, with low visibility and high volatility from quarter to quarter .tgs: outlook for a recovery of exploration activity and seismic spending in the longer-term is gradually improving.  Full Article

BRIEF-TGS and PGS to expand multi-client library off Eastern Canada

* Petroleum Geo-Services (PGS) and TGS-NOPEC announce the expansion of their jointly owned MultiClient library offshore Eastern Canada