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TGS NOPEC Geophysical Company ASA (TGS.OL)

TGS.OL on Oslo Stock Exchange

13 Dec 2017
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Latest Key Developments (Source: Significant Developments)

TGS Q3 operating below forecast, keeps 2017 guidance ‍​
Thursday, 26 Oct 2017 

Oct 26 (Reuters) - Seismic firm Tgs Nopec Geophysical Company Asa :Q3 revenues $ ‍142​ million (Reuters poll $141.0 million).Q3 operating result $‍26​ million (Reuters poll $31 million).Financial guidance unchanged from 23 may 2017​.New multi-client investments* of approximately usd 260 million​.Pre-funding of new multi-client investments* expected to be approximately 40-45%​.Quarterly dividend will be maintained at usd 0.15 per share​.Early indications of modest e&p spending growth in 2018 ‍​.Tgs nopec geophysical company asa: most market analysts expect e&p spending growth of 0 to 10% in 2018 ‍​.  Full Article

TGS sees largely flat E&P spending by oil firms in 2017 vs 2016
Thursday, 4 Aug 2016 

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 

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 

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

TGS gives Q1 2016 revenue outlook below analysts' estimates
Friday, 8 Apr 2016 

TGS NOPEC Geophysical Co ASA:Expects net revenues for Q1 2016 to be about $64 million.Q1 2016 revenue $88.8 million-Thomson Reuters I/B/E/S.  Full Article

TGS NOPEC Geophysical Co ASA appoints COO as new CEO
Wednesday, 9 Mar 2016 

TGS NOPEC Geophysical Co ASA:Kristian Johansen will succeed Robert Hobbs as Chief Executive Officer on March 11, 2016.After eight years with TGS, including nearly seven years as CEO, Robert Hobbs has decided to retire.  Full Article

TGS to pay dividend of $0.15 per share in Q1 2016​
Tuesday, 2 Feb 2016 

TGS NOPEC Geophysical Co ASA:Says ‍from 2016, TGS will start paying quarterly dividends in accordance with resolution made by AGM on May 6, 2015.Has resolved to pay a dividend of $0.15 per share in Q1 2016.Says Q2–Q4 2016 dividends are subject to AGM authorization on May 10, 2016​.  Full Article


Earnings buoy European shares but DAX hurt by Siemens

MILAN European shares inched up on Thursday as solid company earnings more than offset a weak energy sector and a slump in German industrial giant Siemens on delays to a planned unit listing.