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TGS NOPEC Geophysical Company ASA (TGS.OL)

TGS.OL on Oslo Stock Exchange

231.70NOK
19 Jul 2019
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Latest Key Developments (Source: Significant Developments)

Share Repurchase
Monday, 17 Jun 2019 10:43am EDT 

TGS NOPEC Geophysical Company ASA ::SHARE REPURCHASE.PURCHASED 45,000 OWN SHARES ON OSLO STOCK EXCHANGE AT AN AVERAGE PRICE OF NOK 224.5247 PER SHARE..  Full Article

TGS Announces The Atlantic Margin 2019 Survey In The Norwegian Sea
Tuesday, 4 Jun 2019 01:49am EDT 

June 4 (Reuters) - TGS NOPEC Geophysical Company ASA ::REG-TGS ANNOUNCES THE ATLANTIC MARGIN 2019 SURVEY IN THE NORWEGIAN SEA.SURVEY WILL COVER APPROXIMATELY 8,000KM(2) AND WILL BE ACQUIRED BY SHEARWATER USING VESSEL POLAR DUCHESS.2019 ACQUISITION WILL MAINLY COVER OPEN ACREAGE AVAILABLE IN YEARLY APA LICENSING ROUNDS.FAST-TRACK DATA WILL BE AVAILABLE BY Q4 2019 AND FINAL PRODUCT DELIVERY IS PLANNED FOR Q3 2020.ENTIRE ATLANTIC MARGIN PROJECT WILL NOW COVER MORE THAN 50,000KM(2) OF NORWEGIAN SEA, AND WILL PROVIDE INDUSTRY WITH HIGHEST QUALITY DATA IN ADVANCE OF SCHEDULED LICENSING ROUNDS IN NORWAY - CEO.  Full Article

TGS And Spectrum Executes Merger Agreement And Merger Plan
Monday, 20 May 2019 06:00pm EDT 

May 20 (Reuters) - TGS NOPEC Geophysical Company ASA ::REG-TGS AND SPECTRUM EXECUTES MERGER AGREEMENT AND MERGER PLAN.BOARD OF DIRECTORS OF CO AND SPECTRUM HAVE UNANIMOUSLY APPROVED AND DECIDED UPON A FINAL MERGER AGREEMENT.  Full Article

PGS And TGS Announce Torngat 3D Survey Offshore East Canada
Monday, 20 May 2019 01:50am EDT 

May 20 (Reuters) - PGS ASA ::REG-PGS AND TGS <<>> ANNOUNCE TORNGAT 3D SURVEY OFFSHORE EAST CANADA.PROJECT IS EXPECTED TO COMMENCE IN LATE JULY 2019.TORNGAT 3D ENCOMPASSES SECTIONS OF OPEN ACREAGE INCLUDED IN LABRADOR SOUTH NOVEMBER 2021 BID ROUND..TORNGAT 3D WILL BE FIRST 3D SEISMIC SURVEY TO BE ACQUIRED OFFSHORE LABRADOR.PROJECT IS SUPPORTED BY INDUSTRY FUNDING.  Full Article

TGS reports Q1 net segment revenues $110 mln
Monday, 8 Apr 2019 01:50am EDT 

April 8 (Reuters) - TGS NOPEC Geophysical Company ASA ::TGS Q1 PRELIMINARY NET REVENUES AT $110 MILLION (REFINITIV EIKON FORECAST $145.7 MILLION).TGS MANAGEMENT EXPECTS NET SEGMENT REVENUES FOR Q1 OF 2019 TO BE APPROXIMATELY USD 110 MILLION, WHEREOF APPROXIMATELY 12% IS MADE UP BY PRE-FUNDING.NET SEGMENT REVENUES: SEGMENT REPORTING WITH REVENUES FROM PROJECTS IN PROGRESS RECOGNIZED ACCORDING TO PERCENTAGE OF COMPLETION, AS OPPOSED TO IFRS REPORTING, WHERE REVENUES AS A MAIN RULE IS NOT RECOGNIZED UNTIL PROJECT HAS BEEN DELIVERED TO CUSTOMERS.WHILE OPERATIONAL INVESTMENTS AND PRE-FUNDING REVENUES CAME IN BEHIND PLAN DUE TO POSTPONED START-UP OF PROJECTS, THIS WAS OFFSET BY LATE SALES COMING IN ABOVE INTERNAL EXPECTATIONS.FOLLOWING ANNOUNCEMENT OF SEVERAL NEW PROJECTS SO FAR THIS YEAR, WE HAVE NOW COMMITTED APPROXIMATELY USD 240 MILLION OF INVESTMENTS FOR 2019 AND WE ARE WELL ON TRACK FOR MEETING GUIDANCE OF APPROXIMATELY 20% INVESTMENT GROWTH.WITH STRONG CASH FLOW IN Q1, OUR CASH BALANCE IS NOW ALMOST USD 400 MILLION, WHICH PUTS US IN A STRONG POSITION TO GROW SHAREHOLDER RETURNS FURTHER..  Full Article

GC Rieber Shipping: Shearwater To Cooperate With TGS In Brazil
Thursday, 21 Feb 2019 02:00am EST 

Feb 21 (Reuters) - GC Rieber Shipping ASA ::REG-GC RIEBER SHIPPING: SHEARWATER GEOSERVICES AND TGS PARTNER FOR MAJOR BRAZIL SURVEY.PROJECT WILL BE EXECUTED BY AMAZON WARRIOR USING PROPRIETARY Q TECHNOLOGY STARTING IN Q1 2019..PROJECT WILL BE EXECUTED BY AMAZON WARRIOR USING PROPRIETARY Q TECHNOLOGY STARTING IN Q1 2019.11,200 KM2 SURVEY IS EXPECTED TO LAST APPROXIMATELY 8 MONTHS INCLUDING TRANSITS.  Full Article

Seismic surveyor TGS Q4 lags forecast, dividend higher than expected
Thursday, 7 Feb 2019 01:00am EST 

Feb 7 (Reuters) - TGS NOPEC Geophysical Company ASA ::TGS PROPOSES QUARTERLY DIVIDEND OF $0.27 PER SHARE (REUTERS POLL $0.24).TGS Q4 REVENUES $188 MILLION VERSUS PRELIMINARY $188 MILLION.TGS Q4 OPERATING RESULT $68 MILLION (REUTERS POLL $77.8 MILLION).TGS SEES 2019 PRE-FUNDING OF NEW MULTI-CLIENT INVESTMENTS AT ABOUT 40-45 PERCENT.TGS SAYS TOTAL 2019 AMORTIZATION COST TO BE AT APPROXIMATELY SAME LEVEL AS 2018.TGS SEES 2019 GROWTH IN MULTI-CLIENT INVESTMENTS OF APPROXIMATELY 20%.TGS: WHILE THERE CONTINUES TO BE SOME UNCERTAINTY RELATED TO IMPORTANT FACTORS SUCH AS U.S ONSHORE PRODUCTION, OIL PRICE AND E&P BUDGETS, WE ARE CONFIDENT THAT THE POSITIVE TREND FROM 2018 WILL CONTINUE THIS YEAR.  Full Article

TGS Nopec Q4 preliminary revenues below forecast
Wednesday, 9 Jan 2019 01:01am EST 

Jan 9 (Reuters) - SEISMIC FIRM TGS NOPEC Geophysical Company ASA ::TGS Q4 PRELIMINARY NET REVENUES AT $188 MILLION (REFINITIV EIKON FORECAST $204.6 MILLION).WITH OIL PRICES CURRENTLY TRADING BELOW $60 PER BARREL, THERE CONTINUES TO BE SOME UNCERTAINTY ON 2019 E&P SPENDING, PARTICULARLY OFFSHORE.HOWEVER, I'M CONFIDENT THAT OUR QUALITY DATA LIBRARY AND PIPELINE OF NEW PROJECTS POSITION TGS FOR ANOTHER SUCCESSFUL YEAR.  Full Article

TGS in strategic collaboration for Ocean Bottom node projects in the North Sea
Monday, 12 Nov 2018 01:00am EST 

Nov 12 (Reuters) - TGS NOPEC Geophysical Company ASA ::REG-TGS ANNOUNCES STRATEGIC COLLABORATION WITH AXXIS GEO SOLUTIONS (AGS)FOR OCEAN BOTTOM NODE PROJECTS IN NORTH SEA.TGS NOPEC GEOPHYSICAL COMPANY ASA: AREA OF MUTUAL INTEREST COVERS CORE PART OF CENTRAL NORTH SEA UP TO AND INCLUDING UTSIRA AREA.AGS IS A NORWEGIAN COMPANY FOCUSING ON THE OCEAN BOTTOM SEISMIC MARKET. THE COMPANY HAS A PROPRIETARY TECHNOLOGY-AGNOSTIC NODE HANDLING SYSTEM AND IS CURRENTLY OPERATING FOUR VESSELS WITH MORE THAN 9,000 NODES.UNDER THIS AGREEMENT, THE PARTIES WILL WORK TOGETHER TO DEVELOP OPPORTUNITIES TO CO-INVEST IN MULTI-CLIENT OCEAN BOTTOM NODE PROJECTS. TGS WILL HAVE A RIGHT TO PROCESS ALL NEW NODE DATA ACQUIRED UNDER THIS COLLABORATION.  Full Article

TGS CEO sees seismic survey prices rising
Thursday, 1 Nov 2018 04:53am EDT 

Nov 1 (Reuters) - SEISMIC FIRM TGS NOPEC::TGS CEO SAYS BRAZIL'S PRESIDENTIAL ELECTION RESULTS ARE "VERY POSITIVE" FOR THE OIL AND GAS INDUSTRY.TGS CEO SEES SIGNIFICANT GROWTH COMING FROM HIGHER PRICES WHEN THE ACTIVITY PICKS UP, "THERE WILL HAVE TO BE SOME KIND OF INFLATION GOING FORWARD".TGS CEO SEES MULTI-CLIENT INVESTMENTS IN NORWAY IN 2019 FLAT OR LOWER VERSUS 2018, OFFSET BY INCREASE IN INVESTMENTS IN U.S. ONSHORE AND OFFSHORE.TGS CEO ALSO SEES MARGINAL INCREASE IN SEISMIC VESSEL CHARTER RATES.CEO KRISTIAN JOHANSEN GAVE THE COMMENTS ON THE Q3 EARNINGS PRESENTATION.  Full Article