EMGS nets $2.4M worth of data licensing deals

Electromagnetic Geoservices (EMGS) has entered into various agreements with oil companies involving data licensing related to 3D EM data in the Norwegian Sea and Barents Sea in Norway.

According to EMGS’ Oslo Stock Exchange filing on Friday, the data licensing agreements include both prefunding and late sales.

The company added that the deals would represent revenues of $2.4 million.

This is the second batch of deals for the Norwegian Sea and Barents Sea data in less than a month.

Namely, EMGS announced in May that it entered into several agreements involving late sales data licensing related to 3D CSEM data from its library.

The company said that the 3D CSEM data library agreements brought revenues of approximately $3.5 million.