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TGS NOPEC Geophysical Company ASA (TGS.OL)

TGS.OL on Oslo Stock Exchange

270.00NOK
19 Jun 2018
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Latest Key Developments (Source: Significant Developments)

Norway's TGS Q1 operating result below forecast, keeps 2018 guidance
Wednesday, 9 May 2018 

May 9 (Reuters) - TGS NOPEC Geophysical Company ASA ::TGS Q1 REVENUES $135 MILLION (REUTERS POLL $135 MILLION) VS $86 MLN IN Q1 2017.QUARTERLY DIVIDEND WILL BE MAINTAINED AT USD 0.20 PER SHARE.TGS EXPECTS NEW MULTI-CLIENT INVESTMENTS OF APPROXIMATELY $ 260 MILLION IN 2018 VERSUS EARLIER VIEW $260 MILLION.TGS Q1 OPERATING RESULT $25 MILLION (REUTERS POLL $34.5 MILLION) VS $2 MLN IN Q1 2017.TGS EXPECTS 2018 PRE-FUNDING OF NEW MULTI-CLIENT INVESTMENTS TO BE ABOUT 45-50 PERCENT VERSUS EARLIER 45-50 PERCENT.TGS - ADDITIONAL MULTI-CLIENT INVESTMENTS EXPECTED FROM SALES OF EXISTING SURVEYS WITH RISK SHARING ARRANGEMENTS.TGS' PERFORMANCE IN PAST TWO QUARTERS, DRIVEN BY STRONG LATE SALES ACROSS ALL REGIONS, INDICATES THAT THERE HAS BEEN AN IMPROVEMENT IN UNDERLYING FUNDAMENTALS OF GLOBAL MARKET FOR SEISMIC DATA.FREE CASH FLOW OF USD 71 MILLION RESULTED IN AN INCREASED CASH BALANCE OF USD 302 MILLION.TGS EXPECTS 2018 AMORTIZATION TO BE ABOUT USD 310 MILLION VERSUS EARLIER $310 MILLION.  Full Article

TGS to expand U.S. onshore seismic
Thursday, 12 Apr 2018 

April 12 (Reuters) - TGS NOPEC Geophysical Company ASA ::TGS ANNOUNCES EXPANSION OF ITS 2018 ONSHORE SEISMIC ACTIVITY WITH THIRD PROJECT IN THE ANADARKO BASIN.ANNOUNCEMENT OF GLOSS MOUNTAIN 3D SEISMIC SURVEY.THIS PROJECT WILL ENCOMPASS A MINIMUM OF 900 SQ. KM IN MAJOR AND WOODS COUNTIES OKLAHOMA, JUST NORTH OF TGS' PREVIOUSLY ANNOUNCED CANTON 3D AND OUR EXISTING LOYAL COMPLEX 3D.PERMITTING OF SURVEY IS IN PROGRESS, WITH DATA ACQUISITION EXPECTED TO BEGIN IN Q3 2018.PRELIMINARY DATA WILL BE AVAILABLE Q1 2019, WITH FINAL DATA IN Q2 2019.INCREASED APPETITE FROM CLIENTS TO FUND NEW PROJECTS ONSHORE NORTH AMERICA DEMONSTRATES VALUE THAT E&P COMPANIES PLACE IN SEISMIC AS A TOOL TO INCREASE PRODUCTIVITY AND WELL RESULTS.THIS PROJECT IS SUPPORTED BY INDUSTRY FUNDING.  Full Article

Polarcus Extends Collaboration And Vessel Agreement With TGS
Friday, 5 Jan 2018 

Jan 5 (Reuters) - Polarcus Ltd ::REG-POLARCUS EXTENDS MULTI-CLIENT COLLABORATION AND VESSEL AGREEMENT WITH TGS.‍EXTENDED AGREEMENT WITH TGS FOR AN ADDITIONAL YEAR​.  Full Article

Polarcus Secures XArray Contract In Gulf Of Mexico
Thursday, 21 Dec 2017 

Dec 21 (Reuters) - Polarcus Ltd ::REG-POLARCUS SECURES XARRAY CONTRACT IN GULF OF MEXICO.‍RECEIVED A LETTER OF AWARD FROM TGS-NOPEC GEOPHYSICAL COMPANY ASA.‍RECEIVED A LETTER OF AWARD FOR ACQUIRING 6,172 SQ.KM. OF 3D SEISMIC DATA IN GULF OF MEXICO.​.‍SURVEY WILL COMMENCE IN Q1 2018 FOR A PERIOD OF THREE MONTHS​.‍FOLLOWING THIS AWARD, ALL ACTIVE POLARCUS VESSELS WILL BE ON CONTRACT IN Q1 2018​.  Full Article

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

NORWEGIAN STOCKS-TGS keeps surging after Q1 recovery

** Oslo's benchmark index rose 0.04 pct, or 0.33 points, to 830.16 points and was up by 1.89 pct year-to-date