Company Profile For Petroleum Geo-Services ASA

Petroleum Geo-Services ASA (PGS.OL) (Oslo Stock Exchange)

sector: Energy · industry: Oil Related Services & Equipment ·

As of 3:54pm IST

60.35NOK

Price Change

-1.15

Percent Change

-1.87%

Analyst Recommendations

Overview

Petroleum Geo-Services ASA (PGS) reports its business in two segments: marine, which consists of streamer seismic data acquisition, marine MultiClient library, data processing, technology and reservoir consulting, and onshore, which consists of all seismic operations on land, in shallow water and transition zones, including onshore MultiClient library. During the year ended December 31, 2008, the Company launched a 3 dimensional (3D) GeoStreamer survey. Atlantic Explorer started on a MultiClient 3D survey, which covered approximately 300 Offshore Continental Shelf (OCS) deepwater blocks. The Company owns, 20 offshore seismic vessels, 10 onshore crews on three continents, 23 data processing centers and EM acquisition on land, in shallow and deep water. PGS has offices in 30 countries with regional centers in London, Houston and Singapore.

Quick Financial Synopsis

BRIEF: For the nine months ended 30 September 2009, Petroleum Geo-Services ASA's revenue decreased 19% to $1.18B. Net income from continuing operations for the period decreased 62% to $142M. Revenue reflects decreased sales from Onshore business segment, due to lower activities in North America and North Africa. Net income from continuing operations suffered from higher research and development costs.