ASKER, NORWAY (9 July 2018) - Based on preliminary reporting from operating units, TGS management expects net revenues for the second quarter of 2018 to be approximately USD 158 million, 47% higher than Q2 2017.
"Our strong Q2 revenue performance, driven by late sales from our data library, is further evidence of improvement in the global market for seismic data. Customer activity is significantly higher than one year ago, although E&P companies are still being selective and disciplined with respect to new data purchases. As such, the market is expected to remain volatile in the near-term," commented Kristian Johansen, CEO, TGS.
TGS-NOPEC Geophysical Company (TGS) provides multi-client geoscience data to oil and gas Exploration and Production companies worldwide. In addition to extensive global geophysical and geological data libraries that include multi-client seismic data, magnetic and gravity data, digital well logs, production data and directional surveys, TGS also offers advanced processing and imaging services, interpretation products, and data integration solutions.
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