Equities

PGS

NO0010199151

Oil Related Services and Equipment

Market Closed - Oslo Bors Other stock markets 10:45:00 2024-04-26 am EDT			5-day change	1st Jan Change
8.78 ^NOK	+3.05%		+1.36%	+2.50%

Apr. 18	Norwegian Antitrust Regulator Greenlights TGS-PGS Merger	MT
Apr. 12	UK Competition Watchdog to Probe TGS-PGS Merger	MT

Petroleum Geo Services ASA : Vessel Allocation Q2 2016

July 01, 2016 at 02:10 am EDT

July 1, 2016: Oslo, Norway, PGS routinely releases information about 3D vessel utilization after the end of each quarter.

Summary of vessel utilization:

Approximate allocation of PGS operated 3D towed streamer capacity	Quarter ended June 30,		Quarter ended March 31,
	2016	2015	2016
Contract seismic	58%	35%	68%
MultiClient seismic	21%	42%	22%
Steaming	19%	13%	10%
Yard	2%	0%	0%
Standby	0%	10%	0%

The Q1 2016 vessel allocation excludes the four cold-stacked 3D vessels Ramform Challenger, Ramform Explorer, Ramform Valiant and Ramform Viking. The vessel allocation also excludes Sanco Sword which has not yet been rigged.

The new build Ramform Tethys has been included in the vessel statistics 90% of the quarter and recorded 35 days of steaming from Japan before commencing operations in the North Sea mid-May. Rigging of the chartered vessel Sanco Swift was completed late April and the vessel is included in the vessel statistics 75% of the quarter.

PGS will release its Q2 2016 financial results on Thursday July 21, 2016, at approximately 8:00 am Central European Summer Time (CEST). A corresponding presentation and conference call are scheduled for 9:00 am CEST the same day, followed by an additional conference call at 2:00 pm CEST.

FOR DETAILS, CONTACT:

Bård Stenberg, VP IR & Corporate Communications
Mobile: +47 99 24 52 35

****

Petroleum Geo-Services is a focused marine geophysical company providing a broad range of seismic and reservoir services, including acquisition, imaging, interpretation, and field evaluation. The Company's MultiClient data library is among the largest in the seismic industry, with modern 3D coverage in all significant offshore hydrocarbon provinces of the world. PGS operates on a worldwide basis with headquarters at Lilleaker, Oslo, Norway.

For more information on Petroleum Geo-Services visit www.pgs.com.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

PGS - Petroleum Geo-Services ASA published this content on 01 July 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 01 July 2016 06:10:05 UTC.

Original documenthttps://www.pgs.com/investor-relations/ir-news-stock-announcements/vessel-allocation-q2-2016/

Public permalinkhttp://www.publicnow.com/view/A12F3FC0F29D52B3DD905B11BE266C028A7C094E

Latest news about PGS ASA

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Company Profile

PGS ASA specializes in providing geophysical services and in the production of oil and gas. Net sales break down by activity as follows: - geophysical services (56.5%): acquisition, processing and marketing non-exclusive seismic data to oil and gas companies for prospecting and developing reserves, as well as the management of production fields; - seismic data acquisition services under exclusive contracts (40.8%); - seismic data processing and interpretation services (2.7%). The group also offers services enabling companies to improve their knowledge of the structure and monitoring of their reserves. Net sales are distributed geographically as follows: Norway (16.5%), the United Kingdom (5.3%), Europe (7%), Brazil (13.1%), Canada (8.4%), the Americas (13%), Angola (11.5%), Africa (9.1%), Asia/Pacific (12.5%) and other (3.6%).

Sector

Oil Related Services and Equipment

Calendar

2024-05-08 - Q1 2024 Earnings Release

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