Q2 2018 Revenue Update

09 July 2018OSE

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 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.

All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS' reliance on a cyclical industry and principal customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data product at costs commensurate with profitability. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.



Sven Børre Larsen
Chief Financial Officer
Tel: +47 90 94 36 73

Will Ashby
SVP Investor Relations, HR & Communication
Tel: +1 713 860 2184