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TGS NOPEC Geophysical Company ASA (TGS.OL)

TGS.OL on Oslo Stock Exchange

187.60NOK
28 Apr 2017
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Latest Key Developments (Source: Significant Developments)

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

TGS: EPS below forecast
Thursday, 2 Feb 2017 01:00am EST 

Tgs Nopec Geophysical Company Asa : Tgs announces q4 2016 results and 2017 guidance at capital markets day . Q4 earnings per share $0.23 (Reuters poll $0.36) vs $-1.19 in Q4 2015 . 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

Polarcus secures multi-year XArray contract award
Thursday, 19 Jan 2017 09:20am EST 

Polarcus Ltd : Says has received a letter of award from TGS-NOPEC Geophysical Company ASA (TGS) for acquiring 30,000 sq.km. of 3D multi-client data in Europe .Project will commence early in Q2 2017.  Full Article

TGS operating below forecast, cuts 2016 multiclient investments
Friday, 28 Oct 2016 01:28am EDT 

Seismic company TGS Nopec Geophysical: TGS q3 net revenues USD 113 mln (in line with preliminary figures from Oct 7), compared to USD 169 million in Q3 2015 . TGS q3 operating result $11 million (Reuters poll $15.2 million) . Tgs Nopec geophysical company asa says quarterly dividend is maintained at usd 0.15 per share. . TGS says new operational 2016 multi-client investments of approximately usd 220 million (down from musd 230) . TGS says multi-client investments are expected to be prefunded 40 pct to 45 pct . TGS says despite the continued challenging market conditions we are pleased to announce strong operating performance, stable revenues and a positive development in cash flow . Following a challenging first quarter for the seismic industry, we have experienced two consecutive quarters with increased interest for seismic data .TGS says positive free cash flow in Q3 strengthens the balance sheet further and enables TGS to continue to pursue counter cyclical opportunities.  Full Article

TGS sees largely flat E&P spending by oil firms in 2017 vs 2016
Thursday, 4 Aug 2016 03:50am EDT 

Tgs Nopec Geophysical Company Asa : CEO Kristian Johansen said during the company's Q2 earnings presentation: . "We plan for a market that bottoms out ... we plan for a similar activity level as we have seen this year." . "I'd be surprised if we see a significant change in investment activity for 2017 versus 2016. I'd be surprised if we see E&P spending change significantly." . "Our base case is that it will pretty much remain at the same level or hopefully slightly better." . At 0745 GMT, TGS' shares traded 1.6 percent higher for the day in Oslo Further company coverage: [TGS.OL] (Reporting By Terje Solsvik) ((terje.solsvik@thomsonreuters.com;)).  Full Article

Seismic surveyor TGS Q2 beats forecast, lifts 2016 multi-client investments
Thursday, 4 Aug 2016 01:05am EDT 

TGS : Quarterly dividend is maintained at $0.15 per share . Q2 operating result $22 million (Reuters poll $18.4 million) vs $36 million in Q2 2015 . Cash balance at end of Q2 2016 was $162 million . Updated 2016 guidance: New operational multi-client investments of approximately $230 million (previous guidance $220 million), multi-client investments are expected to be prefunded 40 to 45 percent . Additional multi-client investments expected from sales of existing surveys with risk sharing arrangements . "Despite seeing some signs of improvement in oil companies’ willingness to invest in seismic data during Q2 2016, the market is expected to remain challenging and volatile in the near term" . However, long-term future of asset-light, focused multi-client business remains strong . Backlog amounted to $103.0 million at the end of Q2 2016, a decrease of 57 percent from Q2 2015 . Aims to keep a stable quarterly dividend through the year . Says actual quarterly dividend level paid will be subject to continuous evaluation of market outlook, cash flow expectations and balance sheet development .In a separate statement, TGS said it is to launch seismic data acquisition with Schlumberger [nFWN1AK1D0].  Full Article

TGS NOPEC and Petroleum Geo Services to conduct 2D multi-client survey offshore Canada
Monday, 2 May 2016 01:55am EDT 

TGS NOPEC Geophysical Co ASA:Announces the expansion of its multi-client library offshore Eastern Canada with plans to acquire more than 36,000 km of 2D seismic data, in partnership with PGS, utilizing two vessels during the 2016 acquisition season.The M/V Sanco Spirit and M/V Atlantic Explorer, utilizing the PGS GeoStreamer technology, will acquire seismic and gravity data in the Labrador Sea, Newfoundland Orphan-Flemish Pass basins and Grand Banks areas. Data acquisition will commence during late May 2016.Pre-processing of the initial GeoStreamer signal will be performed by PGS following which TGS will perform data processing with final data available to clients in Q3 2017.This new data will complement the existing TGS-PGS joint venture library which already comprises over 112,000 km of modern 2D data and 9,172 km2 of 3D data in addition to 83,700 km of TGS vintage data.  Full Article

More From Around the Web

BRIEF-TGS and Schlumberger announce joint program

* TGS-Nopec and Schlumberger today announced a new multi- and wide-azimuth (m-waz) multiclient reimaging program in highly prospective central U.S. Gulf of Mexico