Q4 2019 Update
(WorldNews Norway)

January 10, 2020: Oslo, Norway, based on a preliminary review, PGS expects to report Segment* revenues for Q4 2019 of $288 million. MultiClient revenues are expected to be $177 million and contract revenues $104 million. `It is five years since we had higher quarterly revenues than what we achieved in Q4 2019. Revenues benefitted from an improving seismic market, but were negatively impacted by challenging and delayed mobilization for several of our large projects offshore Africa,` says President & CEO Rune Olav Pedersen. 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...