Latest news with #TGS.com
Yahoo
4 days ago
- Business
- Yahoo
TGS announces Q2 2025 results
Financial highlights: Multi-client revenues impacted by several library data purchases being postponed and low client commitment to ongoing projects Challenging operational conditions for a large contract project and lower than expected JV partner participation for certain multi-client programs negatively affected contract revenues Order inflow of USD 133 million during Q2 2025 – total order backlog of USD 425 million Net cash flow of USD 11 million in Q2 2025, compared to USD -13 million in Q2 2024 Maintaining a stable dividend payment of USD 0.155 per share to be paid in Q3 2025 Gross operating costs for 2025 expected to be approximately USD 950 million compared to previous guidance of approximately USD 1,000 million – reduction driven by further efficiency gains and vessel scheduling 'The Q2 2025 results were negatively impacted by several factors. End-of-quarter data licensing came in below expectations, with several data licensing deals being postponed. Further, we encountered challenging operational conditions on one of our streamer projects, negatively impacting revenue recognition. Finally, lower-than-expected partner participation in certain multi-client projects resulted in lower recognition of contract revenues and higher multi-client investments. The guidance for gross operating expenses has been reduced further, as we continue to review our cost base and optimize asset allocation. We are in the process of selling the Ramform Explorer and the Ramform Valiant, and stacking the Ramform Vanguard. Although significant macroeconomic uncertainty and high oil price volatility during Q2 caused our clients to be more cautious in the short term, the long-term need for more exploration remains intact. With falling remaining reserve life, many large E&P companies will face declining production rates unless more reserves are added and brought on stream. As a result, we remain optimistic for the long-term opportunities for TGS,' says Kristian Johansen, CEO of TGS Management presentation CEO Kristian Johansen and CFO Sven Børre Larsen will present the results today at 09:00 a.m. CEST. The presentation is webcasted live. Access and registration for webcast attendees are available by copying and pasting the link below into your browser, or use the link on the front page of A recorded version of the presentation will be available on ( after the live event. The Q2 2025 earnings release and presentation are available on and For more information, visit ( or contact: Bård Stenberg Vice President IR & Communication Tel: +47 992 45 235 E-mail: investor@ About TGS TGS provides advanced data and intelligence to companies active in the energy sector. With leading-edge technology and solutions spanning the entire energy value chain, TGS offers a comprehensive range of insights to help clients make better decisions. Our broad range of products and advanced data technologies, coupled with a global, extensive and diverse energy data library, make TGS a trusted partner in supporting the exploration and production of energy resources worldwide. For further information, please visit ( Forward Looking Statement All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict and are based upon assumptions as to future events that may not prove accurate. These factors include volatile market conditions, investment opportunities in new and existing markets, demand for licensing of data within the energy industry, operational challenges, and reliance on a cyclical industry and principal customers. Actual results may differ materially from those expected or projected in the forward- looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason. Attachments Q2 2025 Earnings Release Q2 2025 Presentation
Yahoo
23-04-2025
- Business
- Yahoo
TGS Webcast Details for Q1 2025 Presentation
Oslo, Norway (23 April 2025) - TGS, a leading global provider of energy data and intelligence will release its Q1 2025 results at approximately 07:00 a.m. CEST on 9 May 2025. CEO Kristian Johansen and CFO Sven Børre Larsen will present the results at 09:00 a.m. CEST at House of Oslo, Ruseløkkveien 34 in Oslo, Norway. The presentation is open to the public and will be webcasted live. Access and registration for webcast attendees are available by copying and pasting the link below into your browser, or use the link on the front page of The Q1 2025 earnings release and presentation will be available on and For more information, visit ( or contact: Bård Stenberg, VP IR & Communication Mobile: +47 992 45 235E-mail: investor@ About TGSTGS provides advanced data and intelligence to companies active in the energy sector. With leading-edge technology and solutions spanning the entire energy value chain, TGS offers a comprehensive range of insights to help clients make better decisions. Our broad range of products and advanced data technologies, coupled with a global, extensive and diverse energy data library, make TGS a trusted partner in supporting the exploration and production of energy resources worldwide. For further information, please visit ( Sign in to access your portfolio
Yahoo
07-04-2025
- Business
- Yahoo
TGS awarded OBN 3D contract offshore Trinidad
OSLO, Norway (7 April 2025) – TGS, a leading provider of energy data and intelligence, is pleased to announce the award of a shallow water OBN acquisition contract in Trinidad. The 3D baseline contract is scheduled to commence in early Q3. The total duration of the survey is approximately 80 days. Kristian Johansen, CEO of TGS, commented, "Our OBN technology continues to be the preferred choice of the industry and exposes TGS to clients' production budgets and asset optimization initiatives. We are pleased to secure this new 3D shallow water OBN contract. The client values our OBN technology combined with our proven track record of project execution, ensuring efficient delivery of high-quality data and insights." For more information, visit or contact: Bård StenbergVP IR & Communication Mobile: +47 992 45 235investor@ About TGSTGS provides advanced data and intelligence to companies active in the energy sector. With leading-edge technology and solutions spanning the entire energy value chain, TGS offers a comprehensive range of insights to help clients make better decisions. Our broad range of products and advanced data technologies, coupled with a global, extensive and diverse energy data library, make TGS a trusted partner in supporting the exploration and production of energy resources worldwide. For further information, please visit ( Forward Looking StatementAll statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict and are based upon assumptions as to future events that may not prove accurate. These factors include volatile market conditions, investment opportunities in new and existing markets, demand for licensing of data within the energy industry, operational challenges, and reliance on a cyclical industry and principal customers. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any in to access your portfolio
Yahoo
01-04-2025
- Business
- Yahoo
TGS Launches New Multi-Client Ultra Long Offset OBN Project in the Gulf of America
OSLO, Norway (1 April 2025) – TGS, a leading global provider of energy data and intelligence, announces the commencement of a new Multi-Client Ultra Long Offset Ocean Bottom Node (OBN) data acquisition campaign in the Gulf of America. The Amendment 4 project will expand node coverage in TGS' Multi-Client library, adding over 1,100 square kilometers in the Mississippi Canyon, Ewing Banks, and Grand Isle South areas. Amendment 4 will feature TGS' Gemini enhanced frequency source, offering lower frequency and improved signal-to-noise for ultra-long offset OBN seismic compared to conventional seismic sources. This advanced frequency source will enhance input data for TGS' elastic full waveform inversion (eFWI) algorithm, resulting in more accurate subsurface imaging of the complex subsalt geology in the region. The acquisition phase of this program is scheduled for completion in Q2 2025, with final deliverables available in Q2 2026. Kristian Johansen, CEO of TGS, commented: "This ongoing acquisition campaign underscores the critical role of OBN acquisition in providing our clients with superior seismic data. We are pleased to continue our efforts in the Gulf of America and look forward to supporting our clients' needs with our advanced data acquisition and imaging solutions." The project, supported by industry funding, is anticipated to deliver industry-leading subsurface imaging, enabling oil and gas operators to make more informed decisions and mitigate drilling risks. About TGSTGS provides advanced data and intelligence to companies active in the energy sector. With leading-edge technology and solutions spanning the entire energy value chain, TGS offers a comprehensive range of insights to help clients make better decisions. Our broad range of products and advanced data technologies, coupled with a global, extensive and diverse energy data library, make TGS a trusted partner in supporting the exploration and production of energy resources worldwide. For further information, please visit ( Forward Looking StatementAll statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict and are based upon assumptions as to future events that may not prove accurate. These factors include volatile market conditions, investment opportunities in new and existing markets, demand for licensing of data within the energy industry, operational challenges, and reliance on a cyclical industry and principal customers. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason. For more information, visit or contact: Bard StenbergVP, IR & Business IntelligenceMobile +47 992 45 235investor@ in to access your portfolio
Yahoo
21-03-2025
- Business
- Yahoo
TGS 2024 Annual Report
OSLO, Norway (21 March 2025) - TGS, a leading global provider of energy data and intelligence, published its 2024 annual report today. In addition, TGS has published its 2024 Management Remuneration Report (MRR) according to the Norwegian Public Limited Liability Companies Act, section 6-16b (2). The 2024 annual report and the MRR are available on the TGS' website The Annual Report has also been published in European Single Electronic Format (ESEF) and can be downloaded from ( or TGSTGS provides advanced data and intelligence to companies active in the energy sector. With leading-edge technology and solutions spanning the entire energy value chain, TGS offers a comprehensive range of insights to help clients make better decisions. Our broad range of products and advanced data technologies, coupled with a global, extensive and diverse energy data library, make TGS a trusted partner in supporting the exploration and production of energy resources worldwide. For further information, please visit ( Forward Looking StatementAll statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict and are based upon assumptions as to future events that may not prove accurate. These factors include volatile market conditions, investment opportunities in new and existing markets, demand for licensing of data within the energy industry, operational challenges, and reliance on a cyclical industry and principal customers. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason. For more information, visit or contact: Bård StenbergVP IR & Communication Mobile: +47 992 45 235investor@ Attachments TGS Annual report 2024 Final 549300NUPLAXPB0WYH90-2024-12-31-enSign in to access your portfolio
