ASKER, NORWAY - Based on preliminary reporting from operating units, TGS management expects net revenues for the third quarter of 2018 to be approximately USD 141 million.
"TGS continued its good late sales momentum in Q3 2018 with a growth of 35% Y/Y. Once again, our financial results benefited from activity related to acreage turnover in areas where we have a strong library position. With the market fundamentals continuing to improve, our customers are under increased pressure to replenish reserves and start growing again. As a result, we believe exploration budgets will have to increase from the current unsustainable, low level", commented Kristian Johansen, CEO, TGS.