PGS has rejected an offer from TGS-NOPEC Geophysical Company whereby TGS proposed to acquire multi-client data library of PGS. PGS board of directors is of the view that the value of the company’s multi-client data library is significantly greater to PGS than that represented by the TGS proposal, an
Shell has delivered the processed 3D seismic data over the Pensacola Zechstein Reef prospect located in the UK sector of the Southern North Sea.
The low oil price has led energy companies to scale back near-term investment plans significantly, and 2020 will be very challenging for the marine seismic industry. Adding COVID-19 pandemic and energy transition from fossil fuels to this scenario has made the situation even worse, forcing seismic p
Ocean bottom node seismic player Axxis Geo Solutions (AGS) said on Friday it has appointed Ronny Bøhn as its new CEO. Bøhn, who takes over from Lee Parker, has more than 20 years of experience from the seismic industry. He has held management positions as vice president of marine operations at CGG a
TGS-NOPEC Geophysical Company has submitted a conditional offer for the purchase of the multi-client data library of PGS. Under the offer, PGS would, upon consummation of the sale, receive a cash consideration of USD 600 million. In addition, TGS has proposed that the parties enter into a post-closi
TGS will return to Argentina, where it operates as NOPEC Geophysical, to complete the previously announced Malvinas 3D multi-client survey. The survey covers an area of 17,800 square kilometre. Acquisition is set to resume in Q4 2020 on the highly- funded survey and will continue to grow the 3D libr
Ocean bottom node seismic player Axxis Geo Solutions (AGS) said on Monday that it will reduce operations due to significant uncertainty in the market as a result of the COVID-19 crisis. According to the Oslo-listed AGS, this should take place following its current surveys in the North Sea and Egypt.
Marine seismic player Polarcus has received a letter of intent for 3D seismic data acquisition services in Asia Pacific. The project should commence in the third quarter 2020, subject to relevant approvals. According to the Oslo-listed firm, the acquisition campaign will have a duration of one month
Magseis Fairfield has together with its partner, CGG, secured pre-funding from an oil major for the extension of the ocean bottom node (OBN) Cornerstone multi-client survey in the North Sea. This both confirms the industry interest in the area and reduces Magseis Fairfield’s relative exposure in the
ION has announced the first 3D multi-client program in Mauritania with the Ministry of Petroleum, Mines and Energy (MPME). ION will seamlessly integrate and reimage some 24,000 square kilometres of MPME-held 3D data. It can also further expand the scope to include approximately 15,000 kilometres of
Norwegian geophysical services company EMGS has seen its second-quarter loss widened as revenues slipped almost 50 per cent The Oslo-listed firm booked Q2 2020 loss of $6.6 million or 5 cents, versus loss of $2 million in Q2 2019. Revenues for the quarter fell at $7.5 million from $14.5 million same
PGS has seen its Q2 2020 loss widened, as revenues fell more than 50 percent. The Oslo-listed seismic player reported quarterly loss of $111.4 million, or 29 cents per share on revenues of $90 million. This result compares against loss of $49 million, or 14 cents per share on $192 million revenues i
Marine seismic player Polarcus has slipped deeper into the red in Q2 2020 as revenues dropped close to 66 per cent compared to prior year. The Oslo-listed company reported second quarter 2020 loss of $20.7 million, versus loss of $0.6 million in Q2 2019. Polarcus generated quarterly revenues of $22.
PGS has completed the second GeoStreamer X seismic survey in the Viking Graben. The GeoStreamer X Viking Graben 2020 extension project once again applied PGS’s latest technology innovations for advanced offset-and azimuth-rich data. The project builds on the 2019 GeoStreamer X pilot project in the s
