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Petroleum Geo Services ASA (PGS.OL)

PGS.OL on Oslo Stock Exchange

21.82NOK
20 Mar 2019
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Latest Key Developments (Source: Significant Developments)

PGS board member bought 8,000 shares
Thursday, 31 Jan 2019 

Jan 31 (Reuters) - Petroleum Geo Services ASA ::ANNE GRETE DALANE, BOARD MEMBER OF PGS HAS ON JANUARY 31, 2019 BOUGHT 8,000 SHARES IN PGS AT A PRICE OF NOK 18.97 PER SHARE.FOLLOWING TRANSACTION, ANNE GRETE DALANE OWNS 18,000 SHARES IN PGS.  Full Article

PGS bookings point to materially higher 2019 contract prices -CEO
Thursday, 31 Jan 2019 

Jan 31 (Reuters) - Seismic firm Petroleum Geo Services ASA ::PGS CEO: WE EXPECT CONTRACT PRICES TO BE MATERIALLY HIGHER IN 2019 THAN WHAT WE HAVE SEEN IN 2018, THE MAIN DRIVER FOR THAT IS WHAT WE HAVE ALREADY BOOKED.  Full Article

PGS sells seismic vessel for $100 mln to Japan Oil, Gas and Metals National Corp
Wednesday, 9 Jan 2019 

Jan 9 (Reuters) - Petroleum Geo Services ASA ::REFERENCE IS MADE TO PGS PRESS RELEASE DATED NOVEMBER 15, 2018.PGS HAS NOW SIGNED VESSEL SALE AGREEMENT FOR RAMFORM STERLING TO JAPAN OIL, GAS AND METALS NATIONAL CORPORATION.SALES PRICE IS APPROXIMATELY $100 MILLION. PGS WILL RECEIVE ABOUT 75% OF CASH PROCEEDS AT DELIVERY.REMAINING WILL BE PAID IN 2020.VESSEL SALE DOES NOT INCLUDE SEISMIC STREAMERS.  Full Article

PGS: Due To Unresolved Issues In South America Survey, Two Vessels Have Been On Paid Standby From Dec. 23
Monday, 7 Jan 2019 

Jan 7 (Reuters) - Petroleum Geo Services ASA ::REG-PGS: UPDATE ON SEISMIC ACQUISITION CONTRACT IN SOUTH AMERICA.CONTRACT HAD AN ESTIMATED TOTAL DURATION OF APPROXIMATELY 13 VESSEL MONTHS AND AN ESTIMATED VALUE IN EXCESS OF $75 MILLION.DUE TO UNRESOLVED ISSUES AFFECTING SURVEY, BOTH VESSELS HAVE BEEN ON PAID STANDBY FROM DECEMBER 23, 2018.  Full Article

PGS wins tender for Japan vessel deal
Thursday, 15 Nov 2018 

Nov 15 (Reuters) - Petroleum Geo Services ASA ::PREFERRED TENDERER FOR VESSEL SALE AND LONG-TERM COOPERATION WITH JOGMEC IN JAPAN.HAS AS PART OF A TENDER PROCESS OFFERED TO SELL RAMFORM STERLING TO JAPAN OIL, GAS AND METALS NATIONAL CORPORATION ("JOGMEC") AN INCORPORATED ADMINISTRATIVE AGENCY OF MINISTRY OF ECONOMY TRADE AND INDUSTRY.IS PREFERRED TENDERER, AND NEGOTIATIONS WILL BE INITIATED WITH AIM OF CONCLUDING NECESSARY CONTRACTS.A FINAL AWARD TO PGS WILL ONLY TAKE PLACE IF AND WHEN ALL CONTRACTS HAVE BEEN CONCLUDED. PGS ANTICIPATES THAT THIS WILL HAPPEN DURING Q1 OF 2019.TENDER PROCESS ALSO INCLUDES UP TO 10 YEAR SERVICE AGREEMENT WITH ANNUAL RENEWALS.FOR THIS PART OF TENDER PGS HAS FORMED A JOINT VENTURE WITH NIPPON YUSEN KABUSHIKI KAISHA ("NYK") AND HITACHI, LTD ("HITACHI").JOINT VENTURE WILL ESTABLISH A SPECIAL PURPOSE COMPANY ("SPC") WHICH WILL AIM TO CONCLUDE FINAL CONTRACTS WITH JOGMEC.VESSEL SALE EXCLUDES SEISMIC STREAMER PACKAGE. SPC WILL CONCLUDE A SEPARATE LEASE CONTRACT WITH PGS ON BEHALF OF JOGMEC.SUBJECT TO FINAL AGREEMENTS, JOGMEC IS SCHEDULED TO TAKE DELIVERY OF RAMFORM STERLING AT START OF Q2 OF 2019.INTENDS TO MAINTAIN SAME OPERATED FLEET SIZE IN 2019 AS COMPANY CURRENTLY HAS.IF RAMFORM STERLING IS SOLD TO JOGMEC, PGS WILL REINTRODUCE RAMFORM VANGUARD FROM SUMMER OF 2019.CAPEX TO REINTRODUCE VESSEL PRIMARILY RELATES TO IN SEA EQUIPMENT AND IS ESTIMATED NOT TO EXCEED USD 25 MILLION.  Full Article

Ferd AS Has Sold 20 Mln Shares In Petroleum Geo-Services ASA
Tuesday, 31 Jul 2018 

July 30 (Reuters) - Petroleum Geo Services ASA ::FERD AS HAS SOLD 20 MILLION SHARES IN PETROLEUM GEO-SERVICES ASA.PETROLEUM GEO SERVICES - FOLLOWING PLACING, FERD WILL OWN 15.82 MILLION SHARES OF CO, REPRESENTING 4.67% OF ISSUED AND OUTSTANDING SHARES AND VOTES OF CO.PETROLEUM GEO SAYS FERD SOLD 5.9% OF ISSUED AND OUTSTANDING SHARES OF COMPANY AT A PRICE OF NOK 40 PER PLACING SHARE.PETROLEUM GEO SERVICES- FOLLOWING PLACING, FERD WILL OWN 15.8 MILLION SHARES OF CO, REPRESENTING 4.67% OF ISSUED AND OUTSTANDING SHARES AND VOTES OF CO.PETROLEUM GEO SERVICES- FERD REPRESENTED AT BOARD BY MORTEN BORGE, AND NO CHANGE OF HIS CURRENT DIRECTORSHIP IS INTENDED BY HIM AS A RESULT OF PLACING.  Full Article

Bookrunner Says Books Covered On Petroleum Geo Services ASA Secondary ABO
Monday, 30 Jul 2018 

July 30 (Reuters) - Bookrunner::BLOCK TRADE - PETROLEUM GEO SERVICES ASA SECONDARY ABO: BOOKRUNNER SAYS BOOKS COVERED.  Full Article

Seismic surveyor PGS says on track for positive cash flow in 2018
Thursday, 19 Jul 2018 

July 19 (Reuters) - Petroleum Geo Services ASA ::PGS Q2 REVENUES $239.7 MILLION (REUTERS POLL $214 MILLION).PGS Q2 EBITDA $136.0 MILLION (REUTERS POLL $144 MILLION).PGS SEES 2018 GROSS CASH COST OF $600 MILLION VERSUS PREVIOUS FORECAST OF $600 MILLION.PGS SEES 2018 MULTICLIENT CASH INVESTMENTS OF $300 MILLION VERSUS PREVIOUS FORECAST OF ABOUT $275 MILLION.PGS SEES 2018 CAPITAL EXPENDITURE OF $50 MILLION VERSUS PREVIOUS FORECAST OF ABOUT $50 MILLION.WE ARE ON TRACK TO BE CASH FLOW POSITIVE AFTER DEBT SERVICING THIS YEAR.MARINE CONTRACT MARKET IS IMPROVING, BUT STILL CHALLENGING, AND IT IS ENCOURAGING THAT OUR ESTIMATE OF TOTAL VALUE OF BIDS AND LEADS FOR CONTRACT WORK IS AT ITS HIGHEST LEVEL FOR MORE THAN THREE YEARS.  Full Article

Petroleum Geo Services: Schroders PLC cuts ownership to 4.94 pct
Friday, 11 May 2018 

May 11 (Reuters) - Petroleum Geo Services ASA ::SCHRODERS PLC, AS A GROUP NOW HOLDS 4.942 PCT (16,732,178 SHARES) AFTER SALE OF 1.04 MILLION SHARES ON MAY 9.  Full Article

Norway's PGS sees Q4 EBITDA above $100 mln
Thursday, 4 Jan 2018 

Jan 4 (Reuters) - Petroleum Geo Services Asa ::PETROLEUM GEO-SERVICES ASA: Q4 2017 MULTICLIENT REVENUES OF APPROXIMATELY $170 MILLION - EBITDA ABOVE $100 MILLION.‍HAS SEEN GOOD SALES FROM ITS GLOBAL MULTICLIENT LIBRARY ACROSS REGIONS, IN PARTICULAR FROM ITS EXISTING LIBRARY IN BRAZIL AND RECENT AND ONGOING SURVEYS IN MALAYSIA​.‍COMPANY WILL REPORT ITS Q4 AND PRELIMINARY FULL YEAR 2017 RESULTS ON FEBRUARY 1​.  Full Article

UPDATE 2-TGS Q4 revenue growth lags on oil price volatility

* Co sees uncertainty around 2019 spending by oil firms (Adds background, details)