Measurements of Earth Data for Environmental Analysis

CGG Announces its Q1 2023 Results

Retrieved on: 
Wednesday, May 3, 2023
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PARIS, France – May 3, 2023 – CGG (ISIN: FR0013181864), a global technology and high-performance computing (HPC) leader, announced today its first quarter 2023 non-audited results.

Key Points: 
  • PARIS, France – May 3, 2023 – CGG (ISIN: FR0013181864), a global technology and high-performance computing (HPC) leader, announced today its first quarter 2023 non-audited results.
  • Looking ahead, our clients are ramping up their longer-term exploration efforts with increasing emphasis on efficiency, effectiveness, and lowering their carbon footprint.
  • Cash liquidity of $301m as of March 31, 2023, excluding $95m undrawn RCF.
  • Net debt before IFRS 16 at $905m as of March 31, 2023.

CGG, TGS and BGP Complete Phase IV of 3D Multi-Client Survey Offshore Suriname

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Tuesday, March 21, 2023
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CGG, a global technology and HPC leader, in a consortium with TGS and BGP, today announced the completion of Phase IV of the deepwater 3D seismic survey offshore Suriname.

Key Points: 
  • CGG, a global technology and HPC leader, in a consortium with TGS and BGP, today announced the completion of Phase IV of the deepwater 3D seismic survey offshore Suriname.
  • Fast-track products for this recently completed Phase IV will be ready for review towards the middle of this year, with the final products for the entire program available in late 2023.
  • Covering 1,800 sq km, Phase IV completes the programmed 14,500 sq km survey of newly acquired 3D data in deep and shallow water in the promising Guyana-Suriname basin.
  • Dechun Lin, EVP, Earth Data, CGG, said: “We are pleased to have completed Phase IV of this major survey with our consortium partners, TGS and BGP.

CGG Provides Q4 & Full Year 2022 Financial Update

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Tuesday, January 10, 2023
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CGG anticipates Q4 2022 segment revenue at around $321 million, up 48% sequentially and up 8% proforma year-on-year, driven by strong aftersales, especially in the US Gulf of Mexico and Scandinavia, and higher deliveries of equipment in December 2022.

Key Points: 
  • CGG anticipates Q4 2022 segment revenue at around $321 million, up 48% sequentially and up 8% proforma year-on-year, driven by strong aftersales, especially in the US Gulf of Mexico and Scandinavia, and higher deliveries of equipment in December 2022.
  • CGG anticipates full year 2022 segment revenue at around $931 million, up 3% proforma year-on-year, and full year 2022 segment EBITDAs is expected to be above CGG’s guidance updated on November 2, 2022.
  • CGG anticipates Q4 2022 positive Net Cash Flow around $61 million, including the sale of US land seismic library, and full year 2022 Net Cash Flow around $(4) million.
  • CGG anticipates year-end 2022 Net Debt (before IFRS 16) to be around $859 million, and Net Debt (after IFRS 16) to be around $951 million.

CGG: CGG and Kent Announce Strategic Carbon Capture & Hydrogen Partnership to Accelerate Global Decarbonisation

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Tuesday, April 5, 2022
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CGG , a global technology leader in geoscience, has announced a strategic partnership with Kent , a leading energy services engineering company, to work together on realizing decarbonisation opportunities through CCUS development and hydrogen production and supply.

Key Points: 
  • CGG , a global technology leader in geoscience, has announced a strategic partnership with Kent , a leading energy services engineering company, to work together on realizing decarbonisation opportunities through CCUS development and hydrogen production and supply.
  • CGG and Kent will be providing customers in the energy and industrial sectors with end-to-end services across the life cycle of the projects.
  • Kent also have more than 50 years experience on hydrogen projects, including most recently HyNet in the UK.
  • Kent and CGG will use their industry-leading experience to develop realistic feasibility studies and concept designs to support client stage gating processes.