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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
Business Upturn
09-05-2025
- Business
- Business Upturn
TGS Successfully Commenced an Active North Europe Summer Season
By GlobeNewswire Published on May 9, 2025, 10:15 IST Oslo, Norway (May 9 2025) – TGS, a leading provider of energy data and intelligence, is pleased to announce a significant increase in acquisition activity in Northern Europe this summer. TGS has deployed a total of four acquisition vessels in the region; three seismic vessels and one offshore wind vessel, doubling the Company's capacity compared to 2024. All the three seismic streamer vessels have successfully mobilized, according to plan, and are currently engaged in production on 4D seismic contracts. These vessels will continue with additional 4D programs. TGS has been awarded a total of seven 4D contracts in Northern Europe this summer, amounting to approximately 280 acquisition days. Towards the end of the season TGS will acquire multi-client data. In addition to the ongoing 4D acquisition projects, the Ramform Vanguard mobilized for an offshore wind site characterization contract offshore the UK in late Q1 for a repeat customer. The project is progressing as planned. Following completion of the current project, Ramform Vanguard will undertake another offshore wind site characterization contract, also offshore UK. As announced in November 2024, TGS' node-on-a-rope crew was scheduled to mobilize for a contract in Northern Europe early April and the crew successfully completed the project in May according to plan. Carel Hooijkaas, EVP Operations in TGS, commented, 'We are excited about TGS high acquisition activity level in Northern Europe this summer. The successful mobilization of our vessels and the strong contract portfolio underscore our commitment to supporting the energy companies and meeting the evolving needs of the industry. With our Ramform acquisition platform, GeoStreamer technology and our Ultra High Resolution 3D technology for offshore wind site characterization I am confident we will deliver high-quality geoscience data to our clients.' For more information, visit or contact: Bård StenbergVP IR & Communication Mobile: +47 992 45 235 [email protected] 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 Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
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
15-04-2025
- Business
- Yahoo
Notice of Annual General Meeting 2025
OSLO, NORWAY (15 April 2025) - The annual general meeting of TGS ASA ("TGS" or the "Company") will be held on 8 May 2025 as a virtual meeting through the facilities of Lumi at 17:00 hours (Oslo time). The notice for the annual general meeting is attached hereto (English and Norwegian), together with relevant appendices. The notice will be sent to all registered shareholders on 15 April 2025. To register your attendance, grant proxy or cast votes electronically in advance through VPS Investor Services, please use the following link: (also available on ( The pin code and reference number, which are sent out with the notice, will be needed. Shareholders that have received the notice electronically will find information by logging in through VPS Investor services; available at or through own account keeper (bank/broker). Earlier in April TGS held an election by and among the TGS employees to the TGS board of directors. Subject to the shareholders approving the agreement on global employee representation (item 6 in the calling notice), the following three TGS employees will serve as employee elected regular board members on the board of TGS ASA for a period of two years from the 2025 Annual General Meeting: Christine Roche, Cristina-Reta Tang and Michael Vale, whereas Emma Taylor, Carl Neuhaus and Cerys James are deputies. For more information, visit ( email generalmeeting@ 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 reason. Attachments Notice of Annual General Meeting 2025 - English Notice of Annual General Meeting 2025 - NorwegianSign 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
