Electromagnetic Geoservices ASA (the “Company” or “EMGS”) releases information on vessel activity and multi-client sales during the quarter approximately 4-5 working days after the close of each quarter. The Company defines vessel utilisation as the percentage of the vessel charter period spent on proprietary or multi-client data acquisition. Downtime (technical or maritime), mobilisation, steaming, and some standby activities are not included in the utilisation rate.
At the end of the first quarter 2025 the Company had one vessel on charter, the Atlantic Guardian. The Atlantic Guardian completed a proprietary survey in India in the quarter and started mobilisation for a second proprietary survey in India.
The utilization for the first quarter was 35% compared with 27% for the first quarter 2024.
EMGS had one vessel in operation and recorded 3.0 vessel months in the quarter. In the first quarter 2024, the Company recorded 3.0 vessel months.
Multi-client revenues in the first quarter
The Company expects to record approximately USD 150 thousand in multi-client late sales in the first quarter of 2025.
EMGS will publish its first quarter 2025 financial results on Wednesday 14 May 2025 prior to 07:30 local time (Norway). A recorded presentation will also be made available over the Internet. To access the presentation, please go to the Company’s homepage (www.emgs.com) and follow the link.
