PGS Announces Q2 2021 Update

Source: www.gulfoilandgas.com 7/9/2021, Location: Europe

PGS expects to report Revenues and Other Income As Reported according to IFRS for Q2 2021 of approximately $186 million, compared to $90.3 million in Q2 2020.

Segment Revenues and Other Income for Q2 2021 are expected to be approximately $152 million, compared to $138.7 million in Q2 2020.

Contract revenues ended at approximately $51 million ($31.3 million in Q2 2020). Segment MultiClient pre-funding revenues were approximately $29 million ($66.2 million in Q2 2020), and MultiClient late sales revenues approximately $66 million ($35.5 million in Q2 2020).

The difference between As Reported revenues and Segment revenues relates to MultiClient pre-funding where the As Reported MultiClient pre-funding revenues for Q2 are expected to be approximately $63 million ($17.8 million in Q2 2020).

I am pleased to see that we continue to deliver solid sales from our geographically diversified MultiClient data library. Sales from Europe were particularly strong in the quarter. We also secured healthy pre - funding for our ongoing MultiClient surveys. Vessel operations were dominated by production (4D) seismic, which were negatively impacted by challenging weather conditions during mobilization for projects offshore Norway. We still see a growing demand for new seismic acquisition , and we are increasingly confident in achieving higher Segment revenues in 2021, compared to 2020 , says President & CEO Rune Olav Pedersen.


Trinidad and Tobago >>  5/24/2022 - Trinity, the independent E&P company focused on Trinidad and Tobago, announces its final results for the year ended 31 December 2021 ("the Period" or ...
Vietnam >>  5/24/2022 - Norsk Solar Vietnam has secured non-recourse project financing of up to USD 12 million from responsAbility Investments. Norsk Solar Vietnam is owned b...

Australia >>  5/23/2022 - Calima Energy Limited is pleased to advise on the following capital management program to be implemented.

Dividend
Calima is pleased...

United Kingdom >>  5/23/2022 - Union Jack Oil, a UK focused onshore hydrocarbon production, development and exploration company, has announced that material landmark net revenues of...

United Kingdom >>  5/23/2022 - Chariot (CHAR), the African focused transitional energy company, is pleased to confirm that, further to the Company's announcements on 18 and 19 May 2...
Norway >>  5/20/2022 - Equinor announced on 9 February 2022 an ordinary dividend per share of USD 0.20 and an extraordinary dividend per share of USD 0.20 for fourth quarter...




Gulf Oil and Gas
Copyright 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.