French seismic player CGG has narrowed its quarterly loss despite revenues falling some 26 per cent compared to same time last year. For the quarter ended 30 September, CGG recognised loss of $93 million, against loss of $147 million in the prior year comparable period. Adjusted net loss from contin
Houston-based ION Geophysical booked net loss in the third quarter 2020 of $16.6 million, or a loss of $1.16 per share, compared to a net loss of $3.7 million, or a loss of $0.26 per share in the third quarter 2019. The company reported total net revenues of $16.2 million in the third quarter 2020,
Norwegian geophysical services company EMGS has booked its third loss this year as market continues to be very challenging for seismic players. The Oslo-listed firm posted Q3 2020 loss of $4.2 million, versus profit of $5.1 million in Q3 2019. Revenues for the quarter fell at $2.1 million from $26.9
Norwegian shipowner GC Rieber Shipping has slipped into the red in the third quarter of 2020 on its marine seismic market share. As a result, the Oslo-listed GC Rieber booked loss of NOK 27.5 million, against profit of NOK 17.3 million same time last year. The company had a fleet utilisation of 100
Oil major Shell has reaffirmed its commitment to drill an exploration well on the Pensacola gas prospect in the UK North Sea.
CGG and Shearwater have agreed to suspend negotiations around creating a marine streamer equipment JV until visibility in the streamer replacement cycle improves. The companies said that decision comes due to the downturn in the oil and gas industry, triggered by the Covid-19 pandemic. Both parties
Australia-based Searcher Seismic has announced a new multi-client 2D and 3D seismic rectification project offshore South Africa. The project is in collaboration with the Petroleum Agency of South Africa. The South Africa seismic data covers the Outeniqua Basin and its sub-Basins; the Bredasdorp, Inf
Oslo-listed Solstad Offshore has won two contracts within subsea and renewable energy representing around 500 vessel days in 2021. Normand Tonjer has secured a firm contract until November 2021, plus options for further extension of 2 x 12 months. The vessel has been on contract with Magseis Fairfie
Marine seismic player Polarcus has slipped into the red in Q3 2020 as revenue fell some 76 per cent compared to prior year due to the global slow-down on the back of the COVID-19 pandemic. The Oslo-listed company reported third quarter 2020 loss of $13.5 million, versus profit of $13.7 million in Q3
TGS has seen red numbers in the third-quarter 2020 with revenues down some 64 per cent amid challenging seismic market conditions. Norwegian seismic player reported net loss for the third quarter 2020 of $71 million, against $40 million profit same time last year. This corresponds to EPS of negative
Shearwater GeoServices has secured a five-month contract extension for CGG’s Brazil Nebula multi-client survey. The first phase of Nebula 3D is nearing completion and acquisition will soon commence on the phase-two. “The extension provides a solid addition to our firm backlog for the northern winter
The seismic consortium comprising PGS, TGS and WesternGeco has won a multi-year contract from Petronas to acquire and process up to 105,000 square kilometres of multi-sensor multi-client 3D data in the Sarawak Basin, offshore Malaysia. This contract award follows an ongoing campaign by the consortiu
Geoscience company CGG has recently renewed and expanded its contract to power all its operating sites in the UK with renewable energy. CGG is also one of the early adopters of renewable energy sources for its UK operations, making a switch eight years ago. The company has evaluated the green creden
PGS has seen red in the third quarter of 2020 as revenues fell close to 70 per cent. The Oslo-listed seismic player reported quarterly loss of $32.6 million, or 8 cents per share on revenues of $85 million. This result compares against profit of $31.5 million on $276.5 million revenues in the prior-
